Europe is not going to achieve a competitive energy transition with the current interventionist policies. Europe does not depend on Russian gas due to a coincidence, but because of a chain of mistaken policies: banning nuclear in Germany, prohibiting the development of domestic natural gas resources throughout the European Union, added to a massive and expensive renewable rollout without building a reliable backup.

There are numerous articles mentioning that Saudi Arabia may use the yuan, China’s domestic currency, for its oil exports.

How much does Saudi Arabia export to China? According to the Organisation of Economic Co-operation and Development, the kingdom’s main exports are to China ($45.8B), India ($25.1B), Japan ($24.5B), South Korea ($19.5B), and the United States ($12.2B). Exports of crude oil reached $145 billion in total.

In this world of monetary insanity, defenders of central bank constant easing try every day to convince you that inflation is caused by numerous factors, not by currency printing.

Many blame inflation on cost-push factors or even speculation, but ultimately all those are consequences, not causes. Rising prices are always caused by more units of currency being directed to scarce or tangible assets.

The Henry Hazlitt Memorial Lecture, March 18, 20221

Many thanks to the Mises Institute and to sponsor Yousif Almoayyed for this opportunity to be with you all today as we consider one of the truly remarkable developments in the history of American central banking, money printing, and credit inflation.

Describing attorney Clarence Darrow, the great H.L. Mencken wrote, “The marks of battle are all over his face. He has been through more wars than a whole regiment of Pershings. And most of them have been struggles to the death, without codes or quarter.”