The SCAM of Europe’s electricity market! Yanis Varoufakis lays it out. We are getting MILKED!!! The biggest SCAM, EVER!

“if this sounds complicated, it is because it was intended to be complicated so that the citizens of Europe do not understand that this is a scam against them.”

Amid a growing energy crisis, political leaders across Europe want to divert attention away from their own role in its exacerbation and instead make citizens focus on one thing only: Russia. However, it is far more complex than that.

“If you really want an indication of what the matter is besides the fact that prices are going up, that there’s a war in Ukraine, supply chains have been interrupted… look at the United Kingdom. The United Kingdom is a very good case in point because it is self sufficient.

“More than 50% of Britain’s electricity needs are covered by wind power… producing electricity at zero marginal cost – just the cost of maintaining the windmills and nuclear. As for the gas reliance, which is around 35% of British electricity, UK electricity is produced using natural gas. All of it comes from the North Sea, more or less.

“So in other words, the UK doesn’t need Russian gas, doesn’t need Texan LNG, it doesn’t need to import anything. And yet you’ll see that the new Thatcher look-alike, prime minister Liz Truss, is promising to do something to cap the cost of electricity. Now, why is the cost of electricity in the UK rising as fast as it is rising here in Greece where we have no natural gas that we produce or Italy for that matter?

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“The reason is Thatcher – because Thatcher privatised the electricity system in the UK and introduced the idea that privatisation is a good thing for the people – not for the oligarchs, but for the people, the idea being that the market knows better how to reduce costs than the state – state bureaucracies, state owned and run electricity grids and power stations are stuck at high costs. Better betting on looking after the workers more than looking after the customers, the electricity consumers – that was the line. And privatisation in the United Kingdom is crucial because the model of the United Kingdom was then extended to the rest of the European Union.”

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Listen what he is telling…..

h/t 16 Blocks

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