1/ The media isn’t reporting it but the Biden administration appears to be going into full Hitler-in-the-bunker mode and trying to destroy global energy markets to crush the EU economy and lower American living standards through more inflation to hurt Trump. 🧵 
2/ It started with a new sanctions package quietly rolled out on Nov 21st a few weeks after the election. Most didn’t pay attention as the Russian sanctions have been seen as redundant by smart people for over a year now.
3/ But these sanctions were different. They used sanctions on Gazprombank - which the EU buys gas through - to try to interfere with EU energy supplies.
4/ After over 2 years of failed sanctions Russia is still the EU’s 2nd largest gas provider. We now know that there is simply no choice for Europe. They tried everything.
5/ In response to the new sanctions, the Russians have tried to accommodate by making the financial system more flexible. But at this stage short-term disruptions seem inevitable.
6/ This week German electricity prices went up higher than they were even at the peak of the post-war increase.
7/ Germany is already deindustrialising. It cannot take more pain. The US surely knows Russia will shrug this off. We can only conclude the Biden administration is trying to damage Europe.
8/ But the feral Biden administration isn’t content with just hitting their “allies”. Now they’re aiming to disrupt global oil markets. We can only assume this is to hurt US consumers and generate inflation for Trump to deal with.
9/ The plan is to sanction tankers carrying Russian oil. As Bloomberg states, the Biden administration avoided this in the past because of the damage it would do to the US economy.
10/ Will it work? We don’t know. But oil markets are paying attention and prices are rising.
11/ Biden himself has become a deeply cynical and sinister figure having discredited himself even within his own party by pardoning his own son.
12/ It is truly scary to have such an unscrupulous and seemingly confused person wield such power over the world with no political constraints. In his orgy of economic destruction Biden is only undermining the credibility of the office that he holds.
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