European elections. A wave of Conservatives to prevail.

0:00 Speaker 1 What is today is Mario Economo, our foreign correspondent in Europe, and he has worked for large money center banks in New York, London, Zurich and has a part of the economy of Europe and what the heck is going on?

0:17 And Mario give us an update, what’s going on in Europe. We haven’t talked to you in a few weeks.

0:24 Speaker 2 Yes, good morning. So let’s start off where we left off last time. There was a vote in the European the European Commission and to decide whether or not they were going to actually see the income off of sanctioned Russian assets, and it looked like the vote was going to be a no, but in the end that it

0:42 actually is a yes. So they’re going to go ahead and proceed to see the income off of those assets, and they are hoping for a disbursement of those of that income by the beginning.

0:51 Speaker 1 How much is it to Mario, Well, the.

0:54 Speaker 2 Income, I’m not sure what the income is, but the assets are roughly three hundred billion. Of course, this is how a tremend this impact on the price of gold, which we’ve seen through in the last several weeks skyrocket in its price, and we know that the Russians and the Chinese holds a lot of gold, so we’ve actually

1:12 helped them and much the way the Russians had said we would, increasing the results.

1:17 Speaker 1 Isn’t that dumb? Isn’t that dumb to have an additional conflict of three hundred billion with Russia?

1:25 Speaker 2 It’s not smart, It’s definitely not smart. But you’re speaking to someone who doesn’t believe kind of thing’s been done correctly from the outset of this. This should have been settled three months into it. It hasn’t been, and it looks like it’s not going to be for some time now.

1:39 But let’s move on, and let’s just talk about a couple of things that I find very interesting. In certain polls that have been done in Europe, we’ve seen that for the most part, Europeans are happy to continue to support the Ukraine. However, when you tell the Europeans that the Americans, if President Trump gets re elected, will no

1:59 longer provide some that interest in continuing to support the Ukraine from European resources drops down to twenty percent. So we can see that the Europeans are happy for the war to continue as long as the Americans continue to fund it and to provide the equipment and the arms to the Ukrainians. The Mario.

2:21 Speaker 1 One more question. There’s been many, many rumors that a lot of the money, a lot of the equipment that’s been going to the Ukraine has been misused. What do you hear from your sources.

2:35 Speaker 2 If you mean I’m not sure what you mean by misused. But the people who have received this equipment of troops, they haven’t been adequately trained on it. And for example, those Abrams tanks there were sent, many of the sensitive components on them were removed because America was concerned that the Russians may get a hold of these tanks and

2:54 then therefore re engineer them or try to figure out exactly what the actual secure already deficiencies on them are. So they’ve actually provided, in my opinion, substandard equipment to the Ukrainians, essentially tying one hand behind their back. But it doesn’t matter. This is all Nichols and Dines. At the end of the day, this war was lost. When

3:17 I spoke to you in November, I said, the war is over. It was over. You have to understand when the Germans fought the Battle of Stalingrad and that ended almost two years before the end of the war. It was pretty much over for the Germans after that battle.

3:32 The losses they took. They took was so severe they never recovered from it. So we see a situation in the Ukraine now where this can actually continue for a while longer. Much is going to depend, like I said, on whether or not President Trump gets reelected. The Europeans, for their part, are saying that they will continue to support,

3:50 but the reality is they don’t have the resources in Europe to provide more support, and sending troops is a non starter because if you look at the geographic distribution of the countries and their polls, the majority of the countries in Europe are all saying The people in the countries are saying, we need to settle with the Russians.

4:08 We need to reach an agreement. Ukraine needs to reach an agreement and this needs to end now. And I think you’re going to see some interesting things happening in the upcoming European parliamentary elections at the beginning of June.

4:22 This is when seven hundred and twenty members of Parliament are elected across the twenty seven members states and they’re sent to the European Parliament and they decide policy across the EU, and for the most part, it actually looks Poles are saying that roughly twenty five percent of the seats will be won by what are called far right parties.

4:42 And these parties have three things in common. They all want to reach an agreement with the Russians, they want to be friendly with the Russians. They’re all against much of this climate and green technology, and they’re all against immigration.

4:56 Speaker 1 So in other words, they said enough is an I’ve seen that a lot of European countries, a lot of European things. For instance, for example, the electric cause. I think all of a sudden, Mercedes Benz that was very pro electric cause is backing down a little bit. All of a sudden Volkswagen, who was one hundred percent electric

5:21 cause is saying, well, we’re not doing too well. Well what do you hearing that?

5:27 Speaker 2 That’s absolutely true. And if you speak to many Europeans who have actually bought these vehicles, a lot of them are very unhappy. They’re unhappy with the fact that the batteries don’t last as long as they should, they’re very costly to replace. And also there’s a very other large problem, and that is charging stations. The infrastructure is not there

5:45 to support these things, so you end up buying a vehicle that costs a lot of money, and depending on the range, if you’re lucky, you have a three hundred and eighty four hundred mile range, which means you really only have two hundred miles within your house because you don’t know if you go beyond two hundred if you’re

6:00 going to find a charging station to be able to charge your vehicle. So, yes, a lot of people have soured on that. A lot of people have soured on the whole immigration thing, and a lot of people have now also.

6:12 Speaker 1 Sufered sore and Mario immigration. That was the reason for Great Britain doing Brexit. Germany has destroyed themselves with migration. France has destroyed themselves in immigration. I understand. Switzerland has put their foot down last week.

6:31 Speaker 2 Yeah, so Switzerland’s a far right party. The SVP has actually gathered enough signatures and they did it in half of the time necessary to put on the ballot a requirement that the country’s population remained a ten million or less between now and twenty fifty. And the idea is that if for whatever reason, immigration looks like it’s going

6:57 to increase. Above that they have the right to actually trigger certain things which would not allow certain foreigners into the country. And I mean, I can read you a quote here from the gentleman that runs that’s in charge of that party, the leader of that party, and he basically said, and this is translated of course from the German,

7:15 that today too many foreigners are arriving and not the right ones. We need controlled immigration that benefits our country and our population. And this is the program we have.

7:26 Speaker 1 What do you want to tell the American people?

7:30 Speaker 2 That the American people and the European people, I think are aligned in a lot of their ways of thinking. And the European governments and the American government are aligned. And the American government with the American population and the European government with the European population are all diametrically opposed to each other. Basically, the governments are no longer representing

7:51 the interests of the people.

7:53 Speaker 1 Mario Konomu, thank you for the update, and we’ll catch up with you again real soon. Thank you so much.

7:58 Speaker 2 Thank you. Enjoy your day.