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The spectre of inflation is haunting Europe

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El País

It is curious how bread and circuses keep the minds of the populace distracted from reality, while politicians do their part to keep their buttocks on their leather seats in their offices and their privileges and their lives more and more comfortable at the expense of our suffering and sacrifice.

While Europe watched with emotion as the Ukrainian representation won the Eurovision Song Contest and anxiously awaits the final of the Champions League, at the same time a phenomenon is taking hold of the continent without any light on the way: I am referring to the phenomenon of inflation.

First of all, the euro has been experiencing a progressive and unstoppable devaluation against the dollar, gold, BTC and even the Russian Ruble. Today the € to $ exchange rate is 1.05USD, when on average the old continent's currency has always been around 1.25 to the dollar.

Everything seems to indicate that the euro will be for the first time in decades below the value of the U.S. dollar, thus realizing an unprecedented devaluation in European economic life in recent years. On the other hand, the official version of inflation, that of the European Central Bank, indicates that the figure is 7.5%, however, the figures of the Association of Producers of the continent indicate that the inflationary phenomenon is around 35%, judging by what it costs them to produce goods and services to the consumer.

Between COVID and the war in Ukraine, they are devastating the European economy, which was adapted to the acquisition of low-cost raw materials from Russia. By joining the US sanctions system against Russia, the European continent knew very well that these would affect them more than the Russians, as the world's largest country was a reliable and secure supplier of cheap gas and oil (scarce resources in Europe) and other raw materials.

European politicians joined this war of healing Russia without applying a strategy of their own, they simply bowed to the American vision and are now suffering the consequences of their lack of political independence based on their own interests. Now politicians are demanding greater sacrifices from their people: they recommend saving energy, using more bicycles, consuming alternative foods, in short, in the meantime they claim that they are winning the war and that the Russian surrender is imminent, that the sanctions are taking effect.

The reality indicates that Europe is the big loser in this story, the sanctions are falling like a Boomerang to that continent, the politicians know it, so these "circuses" like Eurovision and Champions League are nothing more than a form of distraction so that people do not realize that a great famine is coming and that they, the politicians, have no idea how to avoid it.

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