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Trump Gives Merkel An Ultimatum: Drop Russian Gas Pipeline Or Trade War Begins

Trump Gives Merkel An Ultimatum: Drop Russian Gas Pipeline Or Trade War Begins thumbnail

It became clear just how important it is to the US for Russia’s Nord Stream 2 gas pipeline project to fail two months ago when, as we described in “US Threatens Sanctions For European Firms Participating In Russian Gas Pipeline Project“, the U.S. State Department warned European corporations that they will likely face penalties and sanctions if they participate in the construction of Russia’s Nord Stream 2 on the grounds that “the project undermines energy security in Europe”, when in reality Russia has for decades been a quasi-monopolist on European energy supplies and thus has unprecedented leverage over European politics, at least behind the scenes.

As many people know, we oppose the Nord Stream 2 project, the US government does,” State Department spokeswoman, Heather Nauert said during a late March press briefing adding that “the Nord Stream 2 project would undermine Europe’s overall energy security and stability. It would provide Russia [with] another tool to pressure European countries, especially countries such as Ukraine.” And speaking of Ukraine, recall that in 2014, shortly after the US State Department facilitated the presidential coup in Ukraine, Joe Biden’s son Hunter joined the board of directors of Burisma, Ukraine’s largest oil and gas company. Surely that was merely a coincidence.

Nauert also said that Washington may introduce punitive measures against participants in the pipeline project – which could be implemented using a provision in the Countering America’s Adversaries Through Sanctions Act (CAATSA).

Fast forward to today, when the dreadfully named CAATSA act just made a repeat appearance; around the time Europe made it clear it would openly defy Trump’s Iran sanctions, the WSJ reported that Trump told Merkel that if she wants to avoid a trans-Atlantic trade war, the price would be to pull the break on Nord Stream 2, according to German, U.S. and European sources.

The officials said Mr. Trump told German Chancellor Angela Merkel in April that Germany should drop support for Nord Stream 2, an offshore pipeline that would bring gas directly from Russia via the Baltic Sea. This would be in exchange for the U.S. starting talks with the European Union on a new trade deal.

While it had long been suspected that Trump would push hard to dismantle Nord Stream 2 just so US nat gas exporters could grab a slice of the European market pie, the aggressive push comes as a surprise, and as the WSJ notes, “the White House pressure reflects its hard ball tactics on trade, moves that have contributed to rising tensions between Europe and the U.S. and raised fears in export-dependent Germany of a tit-for-tat on tariffs that could engulf its car industry.”

The Nord Stream II (or NS2) project was started in 2015 is a joint venture between Russia’s Gazprom and European partners, including German Uniper, Austria’s OMV, France’s Engie, Wintershall and the British-Dutch multinational Royal Dutch Shell. The pipeline is set to run from Russia to Germany under the Baltic Sea – doubling the existing pipeline’s capacity of 55 cubic meters per year, and is therefore critical for Europe’s future energy needs.

NS2 is the second phase of an existing pipeline that already channels smaller amount of gas from Russia to Germany. Construction for the second phase started this week in Germany, after investors committed €5 billion ($5.9 billion) to the venture.

Trump has publicly criticized the Nord Stream 2 pipeline, saying at a meeting with Baltic State leaders at the White House this year that “Germany hooks up a pipeline into Russia, where Germany is going to be paying billions of dollars for energy into Russia…That’s not right.”

“Donald Trump is a deal maker…there is a deal to be made if someone (in Germany) stood up and said ‘Help us protect our auto industry a little bit more, because we’re great at it and we’re going to help you on Nord Stream 2’,” said one U.S. official, who was present at the April meeting between Ms. Merkel and Mr. Trump.

Raising the pressure further, Sandra Oudkirk, a senior U.S. diplomat, told journalists in Berlin on Thursday that as a Russian energy project the pipeline could face U.S. sanctions, putting any company participating in it at risk.

* * *

The Kremlin shot back immediately as spokesman Dmitry Peskov called the U.S. efforts “a crude effort to hinder an international energy project that has an important role in energy security.”

“The Americans are simply trying crudely to promote their own gas producers,” he said.

He is, of course, right, even if the official explanation is that Washington opposes the pipeline because it would make Ukraine—currently the main transit route for Russian gas headed west—and other U.S. allies in the EU more vulnerable to Russian pressure. German officials also say the U.S. is eager to displace Russia as a provider of gas to Europe, hence confirming with the Russian said.

Of course, in the end it’s all a question of leverage, and who has more, and right now Trump believes that by threatening European auto exports hostage, he has all of it.

* * *

Still, that Trump thinks he can interject after three years of trade negotiations with an abrupt demand while providing no alternatives, is rather stunning, but understandable. As Alex Gorka of the Strategic Culture Foundation wrote, on March 15, a bipartisan group of 39 senators led by John Barrasso (R-WY) sent a letter to the Treasury Department.

They oppose NS2 and are calling on the administration to bury it. Why? They don’t want Russia to be in a position to influence Europe, which would be “detrimental,” as they put it.  And, as Gorka wrote, their preferred tool to implement this obstructionist policy is the use of sanctions, precisely what we are seeing currently.

To be sure, 39 out of 100 is a number no president can ignore as powerful pressure emanating from US corporations and lobbies was being applied on the administration. Even before the senators wrote their letter, Kurt Volker, the US envoy to Ukraine, had claimed that NS2 was a purely political, not commercial, project.

As we said in March, “No doubt other steps to ratchet up the pressure on Europe will follow.” Little did we know that less than 2 months later, the US and Europe would be embroiled in a bruising trade war in which the fate of NS2 is suddenly the key variable.

* * *

So will Trump win, and will US LNG replace Russian exports?

While Merkel hasn’t yet dropped her support for the pipeline, she said on Thursday the EU had agreed at a summit Wednesday night to offer the U.S. “closer cooperation” in the field of gas in exchange for a permanent exemption from the steel and aluminum tariffs, suggesting that Nord Stream 2 may soon be a trade war casualty.

Should Europe fold, it should expect a surge in energy inflation: Liquefied gas from the U.S. needs to be shipped over the Atlantic and would be considerably more expensive than Russian gas delivered via pipelines. A senior EU official working on energy regulation said Russian gas would be at least 20% cheaper.

“Trump’s strategy seems to be to force us to buy their more expensive gas, but as long as LNG is not competitive, Europe will not agree to some sort of racket and pay extortionate prices,” an EU official said.

Which, amusingly, is precisely what Trump’s brute trade overture is: an global racket.

Germany’s pipeline plan has long been controversial with Ukraine, as well as several EU countries on the bloc’s eastern edge who fear it gives Russian President Vladimir Putin power over gas deliveries—which Berlin has so far largely ignored.

Trump has been pushing for better access for U.S. companies to an EU market he has criticized as over-protected. Barring an EU offer to address Mr. Trump’s grievances, the U.S. will hit Europe with punitive steel and aluminum tariffs on June 1. The EU has promised retaliatory tariffs.

* * *

So now that the ball is in Merkel’s court, how will she respond?  On Friday, the German chancellor is traveling to Russia on Friday to meet Vladimir Putin in hopes of brokering a compromise that would satisfy the U.S. and her European partners.

She will ask Mr. Putin for a deal that would preserve the lucrative transit trade—Ukraine gets a fee for letting Russian gas through its territory on the way to eastern Europe—even after Nord Stream 2 comes online in 2019, a German official said.

Meanwhile, German government officials say that since all the permits for Nord Stream 2 have been issued, the WSJ notes that there is no legal way to stop the project, which is run by Gazprom , the Russian energy giant, under financing agreements with international companies such as Engie, OMV, Shell, Uniper and Wintershall.


49 Comments on "Trump Gives Merkel An Ultimatum: Drop Russian Gas Pipeline Or Trade War Begins"

  1. JuanP on Sat, 19th May 2018 9:31 am 

    I have been following the Nord Stream 2 and Turkish Stream projects for years. Will the USA succeed in its plans to thwart them? I don’t know. I, personally, don’t want them to be built because I don’t want Russia selling oil and gas to Europe because it is not in Russia’s best interests, IMO.

    You gotta LOVE Trump! He makes it easier for the ignorant, retarded masses of the world to see the US government’s true nature. I love how honest and transparent he is. He is a narcissistic bully, knows it, loves it, and flaunts it. LOL!
    I think that if the US GDP keeps growing until the next presidential election then Trump could get reelected. That would give us six more years of Trump and Putin. I would LOVE that. Trump is FUNNY!

  2. joe on Sat, 19th May 2018 9:52 am 

    The price for NordStream2 will have to be rejoining TPP and rejoining the Iran deal. Simple as that. If the EU caves to America on this issue, and Brexit. Its curtains for them. They have to display sovereignty on somthing. The British see the EUssr for what it is. Trump isn’t showing them any love, he knows it’s Soros vision coming to life.
    By ignoring the basic facts about global warming Trump is able to forget that oil and coal are expensive and damaging. The EU needs that gas.

  3. JuanP on Sat, 19th May 2018 10:56 am 

    Will Russia abandon deal with OPEC?

  4. Cloggie on Sat, 19th May 2018 11:51 am 

    Ultimatum? Haven’t seen anything in the MSM about it, only this drama queen blog Zerohedge.

    The only real issue is whether the Russians will be allowed to close down the Ukrainian pipeline. Putin wants that, but Merkel doesn’t, probably because of favors to Ukraine/USA. But this is the only compromise Merkel is willing to make.

    Nordstream will be build.

    The EU of 500 million is meanwhile strong enough to withstand the US economically, financially and diplomatically. And in the worst case we can always fall back on Eurasia.

  5. Cloggie on Sat, 19th May 2018 12:02 pm

    China lands long-range bombers on their artificial island in the South China Sea for the first time.

    Range 3500 km

  6. Cloggie on Sat, 19th May 2018 1:13 pm

    Green light Nord Stream 2 could be given in the Summer.

  7. twocats on Sat, 19th May 2018 1:27 pm

    wrong again Clit-face. you are wrong always wrong forever wrong. oh, wait, this is bloomberg so you probably can’t see the link on your nazi-retinal-filter.

  8. twocats on Sat, 19th May 2018 1:36 pm 

    The dynamic of this relationship has been absolutely fascinating. The Paris Climate was one thing. The trade war moves from a few months ago was to the edge for many (I suspect). walking out on the Iran deal – probably a red line in the minds of many European officials. The sum total events could be catastrophic for US-EU relations.

    Countdown to the first EU leader telling Trump to go f(*& himself…

  9. Cloggie on Sat, 19th May 2018 1:49 pm 

    “I, personally, don’t want them to be built because I don’t want Russia selling oil and gas to Europe because it is not in Russia’s best interests, IMO.”

    Why is that? Apparently the Russians have a different view concerning their own best interests.

    The Russian attitude needs to be seen in historic context. Since Peter the Great, Russia has the ambition to become a European country. Now is the time to realize that vision.

    Putin in his own words (2012):

    Russia is an inalienable and organic part of Greater Europe and European civilization. Our citizens think of themselves as Europeans. We are by no means indifferent to developments in united Europe.

    Where Anglo-Zionists are the quint-essential anti-Europeans, mainly interested in “kicking European ass”, Russians really want to be Europeans.

    What is new in the history of Anglo-Zionism is that the Zionist part is now waging open warfare against the Anglos, using their imported immigrants as a new proletariat against the Anglos. You only have to read the posts by millimind on this board to get an accurate idea of their intentions.

    This of course opens up incredible opportunities for continental Europeans…

    …for some major upward geopolitical mobility.

    [insert vile Natzi grin here]

    Because we continental Europeans (PBM) are the only ones who potentially could come to the rescue of our former tormenters, um… make that liberators.

    All we have to do is to wait for the inevitable explosion/uprising attempt by the Anglos in America from their cornered position:

    And if not, they are going to be “burned at the stake”, as millimind announced today. If you want to get an idea, just study the history of the first two decades of the USSR to get an idea what it means to have the milliminds lording over you without the protection of the Constitution.

    We in continental Europe should build relations with Russia (Nord Stream), give the finger to US officialdom if they object, set up a renewable energy base, and set up a European army.

    And wait for the flashpoint to happen in the US.

  10. Davy on Sat, 19th May 2018 2:17 pm 

    “The sum total events could be catastrophic for US-EU relations.”

    I doubt it. It is like divorce when you get older, you can’t afford to have a divorce or your lifestyle gets impacted too much. The same is true for the US and EU trade and military relations. Besides who know who will be in power by midterms or the next presidential election. Relations at the scale of the US and EU don’t turn in such a short time frame and if they do it will be very bad for all sides.

  11. MASTERMIND on Sat, 19th May 2018 2:52 pm 


    Russia is peaking soon. You dimwit..

  12. Boat on Sat, 19th May 2018 3:12 pm 

    Let’s digress….Putin snatches the Criema and attacks the Ukraine. Russia also supports Syria who several EU countries have been bombing the shyt out of. Iran who also loves to fund Sharia law loving suicide killing civilians in the EU.
    EU’s new position… let’s trade with those who would kill and take lives. No… let’s increase trade with the bastards. Weird to think Trump got something right while corporate EU won the greed vrs Stop the invading hoard.
    So Putin cuts oil production and the EU pays billions more. First response, hell cloggie let’s buy more energy from Putin. He won’t cut production. Lol

  13. Duncan Idaho on Sat, 19th May 2018 3:30 pm 

    “Putin snatches the Criema”

    Well, it has been part of Russia about as long as the US has been in existence, and 90% of the population speaks Russian.
    It was “given” away when the Ukraine was part of the Soviet Empire.

  14. Cloggie on Sat, 19th May 2018 3:31 pm 

    “Syria who several EU countries have been bombing the shyt out of. ”

    No EU country has “bombed the shit out of Syria”

    “Iran who also loves to fund Sharia law loving suicide killing civilians in the EU.”

    All attacks in the EU have been carried out by Sunnis, not Shia.

    “EU’s new position… let’s trade with those who would kill and take lives. No… let’s increase trade with the bastards. Weird to think Trump got something right while corporate EU won the greed vrs Stop the invading hoard.”

    Complete BS. There are no Iranian terrorist attacks in Europe. The Obama deal encompassed Iranian halting of enrichment of uranium against abolishing sanctions and resuming trade. That is what the EU is doing.

  15. Cloggie on Sat, 19th May 2018 3:36 pm 

    Russia is peaking soon. You dimwit..”

    Why do you keep posting that gay picture of your co-tribalist?

  16. Boat on Sat, 19th May 2018 5:05 pm 


  17. twocats on Sat, 19th May 2018 5:39 pm 

    Davy – fair points, I think the odds are in your favor. I point out that between climate change, peak oil, and just the fact that americans would elect someone like clump, EU feels they have to chart their own course. It’s only the fact that the EU is not as cohesive as the US, there are still spectres of WWII, that they’ve stayed this long I think. But if the benefits of waning US empire are not redounding to the EU as allies – then I think you will see the marriage end in that type of divorce where one partner realizes they’ve grown so far apart they’d rather enjoy their remaining years on their own.

  18. MASTERMIND on Sat, 19th May 2018 5:41 pm 

    Italy’s immigrants fear tough times as populist coalition heads for power

    Just wait till the oil starts to run out. they will burn these far right assholes on the stake…

  19. MASTERMIND on Sat, 19th May 2018 6:55 pm 

    Fuck Prince Harry and Megan…

    I can’t wait till the oil starts to run out and they burn down their castle!

    Seize the fucking means!

  20. Frantisek on Sat, 19th May 2018 8:31 pm 

    Drumph is Insane like Hitler was & he’ll be the end of America & perhaps the World as we know it today!!

  21. MASTERMIND on Sat, 19th May 2018 8:47 pm 


    Trump ghostwriter for the “Art of the deal”..Wrote an article in the New Yorker before he got elected. And he said that Trump was a social path and if he gets elected there is a high chance he will bring about the end of civilization.

  22. Go Speed Racer on Sat, 19th May 2018 10:20 pm 

    I like that giant Teflon ball valve,
    in the photo.

    I could use that to turn the water
    on and off, out back for the lawn sprinkler.

  23. Go Speed Racer on Sat, 19th May 2018 10:23 pm 

    Merkel is an ugly old man-hating
    fat bitch, just like Hillary.

    Merkel so hates men and hates her
    own country, that she filled up
    Europe with Muslim Islam ISIS terrorists
    who rent trucks and run over people
    who are relaxing in the park.

    Merkel belongs to ISIS. Merkel is a terrorist. Ugly fat old raisin bag.

    Why do the Europeans vote in such
    a bag of dog-shit with hobo-vomit,
    as Merkel. What is wrong with the
    European citizens. Why are they so
    stoooopid. I thought only Americans
    are stooopid?

  24. Cloggie on Sat, 19th May 2018 11:00 pm 


    Your link boat proves my point that Iranians do not drive trucks into European crowds. For the rest, I do not accept US terrorism classifications as fact. The US, after they destroyed the British empire, thanks to the actions of the world’s first neocon and American-British traitor of the British people Churchill (the British voted him to be the Man of the, replaced Britain as the wannabee imperial overlord of Persia, with limited success. The US never forgave the mullahs their independence… but after the US blundering in Iraq and Syria, Iran is stronger than ever and if a Turkish-Iranian alliance materializes, the Western role in the ME is over for ever, KSA dismembered and Israel toast.

    Fortunately, the Europeans will be standing by and airlift the poor Israelis to a tent city in NE-USA, while handing over the nukes to Brussels, the very nukes JFK had to die for.

  25. MASTERMIND on Sat, 19th May 2018 11:05 pm 


    Europe May Be on Verge of Blackouts

    HAha! Looks like you wont be spamming this blog with your fake news and stupid youtube videos…LOL so long you cock sucker “soyboy”…

  26. Cloggie on Sat, 19th May 2018 11:35 pm 

    “Merkel is an ugly old man-hating fat bitch, just like Hillary.”

    “Why do the Europeans vote in such a bag of dog-shit with hobo-vomit, as Merkel. What is wrong with the
    European citizens. Why are they so stoooopid. I thought only Americans are stooopid?”

    It is Germans, not Europeans, who voted in Merkel. The AfD btw WAS voted in as the largest opposition party and will grow and follow the Italian example until the take-over. The globalist, liberal-judaized West is walking on its last legs anyway.

    You can call Americans and Europeans stupid, but they can only vote for candidates on offer, and it is the system that decides who are acceptable (greens, socialists, liberals and conservatives, but nationalists are not). They must not obstruct the vision of One World, without borders. In that case the system loves them. And if they oppose One World, like Trump, Putin, Marine le Pen or the AfD, they get demonized by the media. And in the middle of the drama, promoting One World and attacking whitey where they can, are jews like MASTERMIND. Because they want it all. They want to own everything. It’s a big club and you ain’t in it.

    Is the Big Club going to win? Globally? No. At least in the US? Perhaps. Perhaps not. In Europe the populists are winning and Italy is the first western domino to fall. PBM is going to happen anyway.

    But America, that “nation of immigrants” and necessarily a country with absent or weak ethnic identity/pride, is different. If Americans don’t get help from the outside, they will “burn at the stake” as millimind already exclaimed, even loyal, obedient imperial water carriers of the system like meathead.

    Interesting times.

  27. Cloggie on Sat, 19th May 2018 11:52 pm 

    “Europe May Be on Verge of Blackouts”

    Norwegian gas sellers tell Europeans that they must buy Norwegian gas or

    For a jew you are pretty dumb, millimind. What happened to all these majectic IQ points? Alcohol and druggs, you too, TalmudTurk?

  28. Cloggie on Sun, 20th May 2018 12:05 am 

    “Fuck Prince Harry and Megan…”

    They aren’t likely even royals. Although there is little doubt that Harry…

    …is the son of Princess Airhead, the real father is not so obvious. There are persistent rumors that Harry is the son of a bodyguard, James Hewitt:

    This in your face multicultural marriage, complete with references to Martin Luther King by black ministers, can be seen as commoner Harry’s revenge for the treatment of commoner Diana, at the hands of the House of Windsor, including her likely arranged death on a Paris road.

  29. MASTERMIND on Sun, 20th May 2018 12:13 am 


    Its coming!

    The German Army study was clear..One peak oil arrives (already happened) the public will lose all trust in their institutions. And if you look at voter turnout around the world. It is at all time lows..So there isn’t much left to lose..and no society can last without trust in their institutions.

    Its game over for the inheritance class. Soon! And no amount of fake news you can cite will change anything..

  30. Anonymous on Sun, 20th May 2018 1:24 am 

    None of our business.

  31. Cloggie on Sun, 20th May 2018 2:03 am 

    The German Army study was clear..One peak oil arrives (already happened) the public will lose all trust in their institutions.

    The German army should be busy repairing their hardware, that is in a miserable state. That study of yours is 10 years old and written before the fracking business began to materialize. The Jerries never repeated their warning. Their study, one big failure.

    Meanwhile the renewable energy business is experiencing considerable growth, especially in Europe (UK, Germany, Spain, Denmark and soon laggard Holland as well) and then there is UCG.

    In short, for us in Europe there is absolutely no reason to quit drinking wine and stop eating cheese, according to our jealous friend meathead our preferred occupation.

  32. Norman Pagett on Sun, 20th May 2018 6:14 am 

    commercial/industrial infrastructure runs on exactly the same principle as riding a bike

    stop pedalling, you coast for a few yards, then you fall off

    we cannot pedal without oil—despite assurances to the contrary—oil is about to max out—10 years tops

    it’s not that oil will vanish altogether—the taps wont simply run dry—-oil will become less and less affordable.

    And no, it wont leave the rich with all the oil and the poor with none. We live in an interlocked system, each co dependent .

    Trump—for instance might see himself as immune to future oilshocks—but he sits at the top of a ponzi pyramid….without millions of ”little people”…that ponzi scheme will collapse.

    explains our dilemma more clearly

  33. MASTERMIND on Sun, 20th May 2018 7:22 am 


    Fracking is unprofitable and only makes up a small percentage of world supplies..And it has to be blended with heavier oils. Its a stop gap measure, nothing more. The German study was just a little ahead of its time. You don’t usually wait till the year before you run short on your most precious resource to do a study about it..

    Chevron CEO warns US shale oil alone cannot meet the world’s growing demand for crude

  34. joe on Sun, 20th May 2018 9:41 am 

    Merkel was elected because she is the CHRISTIAN DEMOCRAT. She opted to accept in 1,000,000 immigrants because the alternative was to permit things to spin out of control, Turkey is now hosting 3,000,000 Syrians, Jordan about the same or more, Europe took in everything else, all the afghan and Indians etc that were economic migrants. Literally, she saved the doomed EU from an early death. Eastern European governments were talking about withdrawing from the Schengen treaty to save their countries from a wave of millions of illegal migrants.
    That process is not finished and is not resolved, Italy is under massive pressure from African migrants, as is Greece etc. Americans border issues are mild compared to Europe. If only Europe’s migrants were millions of Spanish speaking predominantly christian people, European people probobly wouldn’t mind much…..
    The world is changing. Its jihad by dick…..

  35. Cloggie on Sun, 20th May 2018 9:49 am 

    The actions of Merkel caused the rise of the AfD and Pegida. For the same reason we have a populist government now. These 2015 scenes won’t repeat themselves any time soon.

  36. joe on Sun, 20th May 2018 9:56 am 

    Don’t be so sure Cloggie. The 5 star movement is demanding the distribution of migrants by the EU cause they are taking the chance that they won’t be able to do it. They hope and pray Eastern Europe tells Berlin to go f**k off, then they can blame everything on a malfunctioning EU and vote to leave with the moral high ground on their side. The EU is in serious peril right now.

  37. Davy on Sun, 20th May 2018 10:02 am 

    “Italy Is Forming The Epicenter Of The EU’s Fateful Shift”

    “That tells me that Draghi understands how bad things truly are and that Italian leadership knows they have the upper hand in debt negotiations. They are prepared to push Brussels hard to get what they want. And well they should. League leader Matteo Salvini understands how ruinous the euro as administered by Germany has been for Italy and most of Europe. So, to him, if the price for Italy to stay in the EU is to force the northern countries to accept debt consolidation and write-down then so be it. If they won’t agree to that, then Italy’s new leadership is prepared to back to the people and say, “We tried. Screw them. Let’s walk.” All of this says to me they sand-bagged the press and the political establishment to get to this point.”

  38. Cloggie on Sun, 20th May 2018 11:00 am 

    Italy won’t get debt relief, as they are one of the richest countries in Europe:

    The average Italian is more than twice as rich as an average American (average means median here).

    Italy has such a high debt because Italians are masters in evading taxes, forcing the government to borrow, now that they no longer can print liras.

    Perhaps it is a good idea for the Italians to go back to the lira and the old high inflation cycle. For international payments they have no choice but to pay in euro.

    But I am predicting that the Italians are too proud to leave the euro and go back to their shabby lira.

    Solution: force every Italian household to take up an ECB funded mortgage on their already largely paid-off homes.

    GDP Italy 1850B euro
    Debt 2442B euro

    600B debt reduction back to 100% GDP can be financed by a mortgage per capita of merely 10k euro. With a median wealth of 124k euro this would be peanuts and Italians would still be twice as rich as Americans.

    Italians should pay for their tax dodging, nobody else.

  39. Davy on Sun, 20th May 2018 11:20 am 

    “The average Italian is more than twice as rich as an average American (average means median here).”

    Nonsense again. Comparing the two counties as you are trying is not a legitimate exercise. Populations are quite a bit different as well as way of life. Cherry picking numbers is just more of your fraudulent activity here on Gus

  40. Davy on Sun, 20th May 2018 11:24 am 

    “Solution: force every Italian household to take up an ECB funded mortgage on their already largely paid-off homes.“

    Lol, listen to the neder babble

  41. Cloggie on Sun, 20th May 2018 11:42 am 

    “Nonsense again. Comparing the two counties as you are trying is not a legitimate exercise. Populations are quite a bit different as well as way of life.”

    There is nothing illegitimate about comparing median income per adult:

    US 55k
    Italy 124k

    The average income is higher in the US because of the excessive wealth of the globalist 1% overclass there.

    The median income is a far better indicator for the wealth of “normal people”, like most of the posters on this board.

    But you of course do not want to admit to the figures mentioned. I understand that.

    And again: public debt in the end of the day is private debt, which improves the US figures, compared to Italy:

    US 102%
    Italy 132%
    (debt in terms of gdp)

    And again: shift 10k per capita from public to private debt and Italy is at 100%. That would be a just solution.

  42. Davy on Sun, 20th May 2018 1:12 pm 

    “There is nothing illegitimate about comparing median income per adult: US 55k Italy 124k”
    Except that your figure is wrong. I am not even going to bother checking that number.

    “The average income is higher in the US because of the excessive wealth of the globalist 1% overclass there.”
    “Nonsense” not much worse than other countries

    “The median income is a far better indicator for the wealth of “normal people”, like most of the posters on this board.”
    Except that you don’t know what that is.

  43. Go Speed Racer on Sun, 20th May 2018 3:45 pm 

    Best indicator of wealth, is how many
    suitcases filled with bundles of $100’s
    do you keep underneath your bed?

    Under my bed, I’m at zero, that means I
    don’t got very much money.

  44. Brian Foote on Mon, 21st May 2018 1:06 am 

    This is about a monopoly: Russian and corrupt Germans. Want cheaper gas? Diversify.
    Gas from Lebanon Gas from Cyprus Gas from Israel Gas from Egypt Gas from Libya Gas from Algeria. LNG from USA? Don’t make us in the USA laugh. All those other countries are closer, but due to European racism and they don’t want to “look like” a colonial power hide from the base reality: Gas from across the Mediterranean via pipeline would be cheaper in the long run for ALL of Europe. Not just selfish, self centered, authoritarian Germany who has decided to throw their weight around again by screwing over the rest of Europe for their own industry as they have done since reeunification.

  45. joe on Mon, 21st May 2018 5:46 am 

    Excellent point Mr Foote. Pity that the British realised too late what’s really going on. Thats why Germany must destroy all nations in the EU to ensure that it can pay for its socialist system of supporting East Germany which is STILL almost the same as when the rejoined. Merkel has taken a huge risk that 1,000,000 young productive jihadi men and women will pay for an aging population. Thanks to birth control and abortion the white population is vanishing.

  46. joe on Mon, 21st May 2018 6:59 am 

    MBS mysterious absence from cadet swearing in.


    The defence minister has unexplained absence. My guess is that he is horribly injured but alive. If he was dead they would come right out and say it. They would look for another prowestern replacement. Thats probobly why Pompeo visited Saudi, to make sure they have what they need to maintain while they prep a war against Iran. The real miracle in all this would be if they somehow sideline Russia. They must have somthing really big up their slieves.

  47. MASTERMIND on Mon, 21st May 2018 8:54 am 


    I think you are right. If he was dead they would likely just come right out and say so..I bet he is hurt like you said..

  48. TurningPoint on Thu, 24th May 2018 9:57 am 

    Trump is a clown. We do not produce enough natural gas to displace Russia as a source of cheaper natural gas to eastern Europe. However, this stupid policy is no different than that of the Obama Administration.

  49. fmr-paultard on Thu, 24th May 2018 10:01 am 

    told you guys putin been busy killing anyone involved in MH17. now investigator concluded russian miscle shot down …many dutch perished. Let’s see eurotard squirms his way out of this

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