, which imports more than half its gas needs from Russia, has already activated emergency plans that could eventually lead to gas rationing if Russia disrupts or halts supplies. Heavy industry, which accounts for a quarter of German gas demand, would be hit first, threatening jobs and the country’s economic recovery from two years of pandemic.
British and Dutch gas prices were mostly higher on Thursday morning ahead of an expected announcement from Russia . In the Dutch gas market, the May contract was €5 higher at €124 per megawatt hour . In the British gas market, the day-ahead price was 2 pence higher at £2.80 e per therm. “Prices have been rallying all week..there is still a lot of uncertainty about supply given the stand-off between Europe and Russia,” a gas trader said.
I see the Irish Central Bank is feverishly buying gold at a rate of a ton a month. It now has over 11.5 tons. Does it expect the collapse of the Euro? Will Ireland follow Russia onto the Gold Standard?
The Ruble is now pegged to gold at 5000 rubles per gram. That makes the Ruble one of the most stable and attractive currencies in the world. Russia's only problem is that it might become too attractive and thus too strong.
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