Transcript
Automated transcript · uncorrectedWhat is today is Mario Economo. He is a banker. He worked in New York, London, Zurich with some of the money center banks, and he’s one knowledgeable guy. And what’s going on in Europe? Marioconomo? Tell us? Last week there was elections on all of Europe, on the European community.
Give us the results, give us how you feel things are happening.
Yes, so, good morning, mister Kama TV. So Yes, last Sunday there was elections across the European Unit for the European Parliament. These are elections that happen every five years. We will touch on that today and we will also discuss a couple of other developments involving the bricks countries.
I would like to start off with the following, which is that at the end of the elections last week, I saw a very interesting thing on social media was a picture of a chess board with the EU on one side and President Putin on the other side. And I thought it was very interesting in that I’ve learned
a long long time ago that you never ever play chess with a Russian. You just don’t do it because you’re going to lose. So what happened last week was it wasn’t the what we’ll call far right wave that everybody was expecting. They did do well, they secured more seats.
The trend is definitely in their favor, meaning that as we go into another five year term five years from now, unless things radically change in Europe, they’re only going to increase their percentages. The winner once again was the European Popular Party, which is a center right party. They received the most seats and they’re going to essentially be the
king maker with respect to the positions that have to be filled, specifically that of European Commission President, European Council President, the Foreign Minister, as well as the various commissioners that have to come out there. Some big developments did happen though, because the far right party of Marine Lepen did well.
Last Sunday, French President Emmanuel Macron, who actually is currently has a minority government, not a majority government, but a minority government with which he is essentially the prime minister of sorry, the president of in France. He called a snap election and that’s going to happen at the end of June, with the second runoff election in July. This
is going to, of course coincide with other elections, and specifically that in the UK, which is going to happen on July the fourth. In Germany, we saw that the ruling party, the socialist the Greens, they did very poorly.
The far right AfD party came in second, and of course the Christian Democrats came in first. The Christian Democrats did tell the Chancellor in Germany that he essentially doesn’t have at this point the support of the people and he should go to a national election in much the same way that mccron is going to do. However, he
has said that he will not. All these things are important because they point to one very real thing, which is that if we get more of the same from the current EU, we will end up in a war with the Russians. It’s a war that the European Union cannot win. It’s a war that the European Union will lose,
and it’s a war that’s going to actually affect each and every person in the Western world.
Understand now, the American people don’t understand all these parties they have in Europe. You know, in the here in America we have Republican Democrats. How far republican did Europe go? In other words, how far in the right did it go?
Okay? So that’s a very good point, and this raises the question. We’ve heard a lot of this word far right being thrown out there. The reality is these are not far right parties, the right wing parties. What’s essentially happened is what was traditionally a conservative or right wing party in Europe has now moved slightly to the center,
meaning it’s moved left, which means the parties which were to the right of them are now the new right. They like to call them far right parties, they like to call them populists, and I think that that’s not fair.
I think that the Europeans need to accept those that are who are centrists and who are the majority of the Europeans at the moment. They need to accept that this is a big block of people who have right of center and even further to the right views. That doesn’t necessarily make them fascists, that doesn’t necessarily make them
unacceptable people. They have different views, and their views are principally driven by their lack of interest in further immigration, because they feel that the people that are immigrating into Europe are not actually basically becoming a European they’re not integrating well. They also have and don’t trust this whole green energy thing, and they don’t want to have a
war with the Russians for a multitude of reasons. They believe the trade should continue with the Russians. They believe that when things were working with the Russians and trade was going on, meaning oil and gas, minerals and resources and peace above all else, it was a much more prosperous situation for Europe. And frankly I would have to
agree with them, because all we need to do is look at what’s going on in Germany. Now, Germany lost that tremendous advantage it had, which was cheap energy, and we’ve now seen what that means to the German economy and the German industry.
Understood well, Sunday morning, what do we have to look forward to? It? Is this good or bad? I mean, no, what do you think you lived?
There? There’s two more There’s two more developments which indirectly impact everything I’ve just discussed, And the first is that Turkia has actually expressed an interest and will most likely be joining the bricks. President Putin is having a big BRICKS summit in October in Russia. He’s hosting it, and it looks like Turkia will actually be there and will
be accepted as a BRICKS member. This is important because it signifies a major shift in terms of the Turks, who used to look traditionally to the west, are now going to start looking to the east and to Russia, meaning China and Russia. And this is because of the repeated inability they’ve had to secure a place in Europe,
which frankly, I don’t see it happening anytime soon, and they believe that their future is more aligned with the interests of Russia and with China. Another big thing that happened as well was the one country, the Kingdom of Saudi Arabia, which is interested in joining the BRICKS and hasn’t formally joined as of yet, but is exploring the option.
And last Sunday we saw a very very major development which sort of flew under the radar screen, and that was the end of the fifty year agreement that the Saoutis had with respect to trading oil with dollars Petro dollars.
They’ve now not renewed this agreement, and as of now, the Saoutis are going to accept dollars, but they’re also going to accept the Chinese un the euro as well as the Japanese Yen to engage in their trading of oil.
These are two very big developments. They are showing us that there is a very large part of the world out there that’s actually moving ahead with respect to decoupling from the West, no longer trusting the US less so Europe because Europe essentially is not a leader. The US is the leader. And therefore, in terms of what this
boat’s for the longer term for US as Westerners, as Americans, as Europeans, is it’s going to have an impact on our stated living. Anybody who tells you it won’t it’s just playing line.
Mariocononmial thank you for the update and we pray for you. Know. I’ve said that when I was in Europe a couple of weeks ago, I said, the free world depends in the United States of America and Europe. Well, they can’t do it on their own. I agree with you that if it’s not for the United States, Europe can’t do
it on its own. Thank you so much for coming on and we’ll talk to you again real soon.
Thank you, enjoy your day.
