Just two days ago, I published a post titled 'Heads of Tails: Another Rate Hike in September?' where I suggested that after everything businesses have been put through in the last two and a half years, rising interest rates along with rising energy bills would force businesses into bankruptcy. Well, just this morning, a new article was published on Zero Hedge and wouldn't you know it, it details that shocked U.K. and Irish citizens have begun posting copies of their business and personal utility bills online and the numbers are quite shocking. One small cafe in Ireland saw its power bill jumped by 250%, while a cafe in Leicester saw their bill jump by 500% while yet another business saw their power bill jump by 1000% or 10 times what their bill was a year ago. That's not including VAT or 'value added taxes'.
What a silly name for a tax, huh. There is absolutely no value there. The one business that saw their utility bill jump by ten times also saw the VAT on their bill climb 1000%. Their bill came in at a whopping $8,159.37 pounds and the VAT came in at a jaw dropping 1,676.43 pounds and another 'CCL' charge of 222.79 pounds for a total shock price of 10,059.59 pounds for two months of energy usage. The employees were told to brace for a permanent shut down.
Sadly, all these businesses have announced they are closing because they simply cannot afford to pay such high prices for energy needs. I predict this will quickly spiral out of control as more and more business shutter with a wave of bankruptcies sure to follow.
And what about pensioners who little left over at the end of every month. How will they survive when these astronomical bills start piling up. As with business bankruptcies, I also expect a monumental wave of personal bankruptcies. This is highly deflationary. As tax revenues dry up, we can expect governments to start printing money again but it'll be too late. Higher interest rates will be the final 'nail in the coffin' as businesses and mortgage holders default on their loans. The same can be said with those who have high credit card debt and car / truck loans.
I can tell you, there is NO shortage of energy. In fact, we are awash in energy. The problem is governments falling for this bullshit Green Energy Plan or Green New Deal. Maybe it's all being done on purpose. It sure looks that way. You can blame it all on the lockdowns and Vladimir Putin but the blame lays squarely on the privately owned central bankers. They've purposely tanks economies several times in the last 100 years or so. It is now widely accepted that the Great Depression of the 1930s was exacerbated by the Federal Reserve. Even former FED chair Ben Bernanke admitted this in his (awful) autobiography.
Greg Hunter at USAWatchDog.com just released an interview with gold investment strategist Egon Von Greyerz titled 'The era of fake money is gone'. He suggests (as do a few others) that an implosion is right around the corner, possibly just a few weeks or months away and will be felt worldwide. Give it a listen when you have a half hour or so to kill. This guy knows what he's talking about. He's helped billionaires purchase hundreds of millions of dollars worth of gold and suggests to go out and buy gold and / or silver as soon as possible as the fiat fake money system comes to an end.
Another thing I'd like to mention is get to know your neighbors, reconnect with family and prepare for the coming cold, cold winter as it is expected to be a doozie! Single people will need to move back in with the parents in order to share the exploding costs of living. As a result, expect a wave of homeless people pitching up tents in open fields. It's going to get tough but we can get through this mess if we stick together. It's the only way we can make it!
For us 'poor people', silver ownership is the way to go. It is presently so undervalued that I have to laugh out loud about it. Here's the spot price of silver as of this morning...
Silver, a precious metal, has a spot price this morning of only $18??? This is not a typo. I buy a couple ounces every month as I consider it insurance against a financial collapse. I buy through OwnX. Click here to learn more about OwnX and start accumulating silver before it's too late.
Check out some of my other posts...
Heads or Tails: Another rate hike for September?
Getting ready for the coming cold, cold winter.
Have we finally reached 'peak purchasing power'?
Dehydrating - A great way to store food for winter.
Update on my backyard ''Victory Garden'.
Getting ready for the coming food shortage.
The food shortage that doesn't have to happen!
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