Is the EU Really Doomed? What You Need to Know!!!

Hello everyone and welcome to Geopolitical Trends. My name is David Oualaalou. So good to be with you as always. There is a sharp disagreement within the European Union over capping gas prices. In this video, I'm gonna provide you some insights, uh, why the Western media first of all is not even talking about it And second, as to what this will mean for not only the future of Europe economically speaking, but also from the global energy perspective. But before I'll delve deeper into this topic, please subscribe if you have not done so and smash that notification button so you'll be notified every time I upload a new video. I also want to take, uh, this opportunity to to give a shout out to the two new members of the channel. It's, uh, Koi Hoy, Koi Choi Hoy, and Joel, uh, you're, you're already— I hope I pronounced it correctly, guys. So thank you so much for your support, uh, for the membership. And of course, I am going to be detailing also what's in this membership is I will do— I will be doing Q&A members, but I also will do live stream, which speaking of live stream, I will be doing one at the end of the year. Might not be on 31st, but on the 30th. I do not know yet. I will give you a heads up as soon as I decide on the dates for that. So, so I want to say thank you all for your support. It means a lot. So let's dive in into this topic. So, so basically what's going on in Europe You know, what's going on in Europe? There is a disagreement in the parliament now that 12 countries— get this, guys— 12 countries out of the 27 members of the European Union have threatened now to block a deal to cap gas prices. Yeah, interesting enough is that Western media is not addressing this, of course. I made a phone call yesterday to Europe, one specific location. And I do ask questions about— and, and I found out even during my conversation that, oh, we didn't read about this here in Western media. That's what prompted me to come on the air and share this with you while providing you a brief analysis. So please make sure to watch this video in its entirety till the end because I'm gonna have a specific conclusion that is tied to much other bigger problems down the road. So, so here's the thing. This division that exists in, in, in Europe, or within Europe rather, over the cap on gas prices, and all this is happening ahead of the emergency meeting that's going to take next week, it's going to take place next week, of the ministers, of the energy ministers of the European Union. It's gonna be on the 20th, if I'm not mistaken, and I'm keeping an eye on that one. So, well, why is all this, you may ask yourself, why is this important for, for me to understand? Why it is important for you to understand? Because it impacts also the energy markets. What you're gonna be noticing soon, it's an increase in the oil prices at the gas pump, and I'm gonna tell you why as I proceed in these discussions, in this discussion rather. Also, this is significant because in Europe Those 12 countries, why they were opposing to this is because in light of the remarkable rise in gas prices in Europe, it's no secret, it's no surprise. So, so the proposal for blocking this by those 12 countries just came forward. And the countries that were involved, by the way, the 12 countries are Uh, let me get the countries here so I'll make sure. Yeah, we got Belgium, Bulgaria, Croatia, Greece, Italy, Latvia, Lithuania, Malta, Poland, Romania, Slovenia, and Slovakia. You know, they're all saying no, no price cap to, to the gas here. Well, the EU countries as a whole have been squabbling for months over whether to cap gas prices, but have so far failed, you know, to bridge that gap between their divergent views, because what is good for one country is not good for the other. So, so even some diplomats now within Europe— usually they won't disclose the name— they are now skeptical about a deal that will be reached next week. I've been arguing this before. Yes, there is the cap on the Russian oil, uh, uh, for $60 a barrel. Ain't gonna hold up, and I'll tell you why. So, but this one here is from within Europe. There is— I don't see a deal, uh, happening next week no matter what they say, let alone, as I said earlier, Western media is not disclosing that. Well, because countries are unhappy with the— some of them are unhappy with this latest proposal, but they said we've had enough, we can't be paying more than what we can afford. Okay, this is where you see the difference between the pro-cap countries saying that, well, the measure that the European Union, uh, putting a cap on the gas prices. Those pro-cap countries are saying that this will shield their economies from high energy costs. Yeah, right, you know, because here's the thing: even Germany itself, okay, which is Europe's biggest economy and gas market, in addition to Netherlands They are both opposing it. So that just shows you right there where that division exists in Europe. So when you hear about this unity in Europe, it's nonsense. I'm here to tell you, based on my conversation with locals in Europe, it is nonsense. So among those 12 countries, uh, including Belgium, Greece, and Italy and Poland, They have threatened to block the deal, you know, and rightly so. So, but here's what you need to know. Only a few weeks ago, and exactly, and I looked into this and I'll provide you of course the links into all this. Only a few weeks ago, on November 24th, okay, Greece, Poland, Malta, and and Belgium were among the EU countries to dismiss a proposal for capping gas prices at about €275 per megawatt-hour. You know, and was during the meeting of the EU energy ministers, which by the way, it didn't work at all. Because they end up— any proposal that was proposed end up not passing. So they failed, basically. You know, here is another argument that you need to look to think about with this, is that Greece, Poland, Malta, and Belgium, they are unhappy, of course, with this. But if you take 3 countries, Cyprus Greece and Malta. Those countries have large shipping industries that could suffer, economically speaking, suffer the heaviest losses if Russian oil cargo is disrupted. So, and their argument is that the cap to them is— the cap has to be too low. And want either compensation for the business losses or more time to adjust. So you can just see where this is going. So, and just for those who might be just joining us for the first time, if you like this video, please hit the like button and also subscribe if you have not done so. So, uh, here's the thing, the developments of all this come aimed concerns at the European Central Bank that the gas prices will affect the financial market. Duh, it's no-brainer. It's because they're gonna be paying high prices. That means they have to allocate more money from the, the government spending to meet the energy needs due to their own failed policies. No. So EU countries, the European countries that is, held urgent negotiations meeting just yesterday, if I'm not mistaken, to try to prepare a deal on the gas prices for the energy ministers meeting, which as I mentioned earlier, scheduled for, I believe, the, the 20th, next week. So, and this is why Europe had no clue what they were doing when they embarked on these sanctions of Russia's energy and all that stuff. And again, I'm saying it just from being pragmatic, you know. I care less for Russia, and I'm not speaking on behalf of Russia. I don't speak on behalf of anybody except my own country, you know. And when I speak about my own country for the mistakes it's making, I'm being labeled as, you know, I don't like America or I hate America, which is nonsense. Those people have no clue what I have done for this country. So it's just a weak argument. So, but here's the thing. An official from the EU, the European member, said that countries were narrowing their differences in their possessions. Others have said a little progress has been made. I'm here to tell you it's a lie. No, it is a lie. There is no progress. Those 12 countries are against what the European Central entities wants to do. So, you know, because they are not blind to the reality that gas prices in Europe have risen this year Of course, as you know, after Russia cuts off the gas shipments in the wake of the war in Ukraine, which basically drove up prices of fuel costs and growing inflation. This is exactly what is happening. So because the energy costs in Europe between this year and last year, it went up this year by over almost 90%. This is why you are noticing now demonstrations in, in London. This is why you are noticing now companies in Germany are shutting down. France, they have demonstrations. Italy, Spain, even in— there's a conversation in Poland also. So you can just see why the countries are European countries, that is, they are worrying. But, but here is my conclusion for you and why I asked you to watch this till the end, because of this conclusion. What am I going to say to you? I'm going to say that the statement by the Russian President Vladimir Putin to accept gold instead of US dollar for oil, that's the interesting aspect. So Russia has countered the price peg of $60 a barrel with offering 2 barrels of oil at the peg for 1 gram of gold. So you can just see, first of all, why gold prices have doubled. It moved up to from $1,794, uh, dollars an ounce to $3,600. That's one. And second, you can just see what this is going to do to the US dollar, or the financial market for that matter. As a matter of fact, In the US defense budget that was released for 2023, which I did a video on it, it was one clause over there, okay, that specifically target the gold in Russia. Makes you just wonder. So, so what Russia is gonna do, like I suggested before, because it's common sense, Russia won't produce more oil. But would ensure that there is enough demand so the production does not get shut, of course. Well, Putin's oil for gold payment method will greatly increase the Russian gold inventory, which are already extensive to begin with. Let alone Russia's gold stacks is now at about $140 billion. And you add to this is that the Russia's oil agreement, oil and gas agreements with China, which is worth about $117 billion. So you put all this within the context of President Xi's recent visit to Saudi Arabia and the deals or the agreement he reached with Saudis. You put this within the context of Qatar agreement with China to provide it with liquefied natural gas for 27 years. You all can see, you're smart enough to see where this is headed. And that is what I wanted to share with you today. So I'm gonna leave you with this question, and feel free to share your insights about it. I would love to read your inputs on it. So here's the question: With the eurozone, where the bigger shock that is likely pushed more vulnerable economies into recession, do you believe, in your opinion, this recession will go deep along a downturn path? Let me repeat the question. With the eurozone, where the biggest shock has likely pushed, uh, uh, more vulnerable economies into recession. Do you think, in your opinion, it's going to go even deeper? Let me know what you think and, uh, let me some— leave me some comments. And as always, remember, geopolitics impact your daily life in more ways than one. Till next time, guys. Bye-bye.