iShares MSCI Europe Financials ETF

Friedberg support ×2 ▼ on 🌍 Europe eats the bill - energy crunch reopens the EU sovereign debt crisis E96 · 2022-09-17 ▶ 1:20:51

Yeah, Nat gas prices are still elevated, right? And Nat gas availability in Europe is obviously significantly restricted right now.

Sacks support ×3 ▼ on 🌍 Europe eats the bill - energy crunch reopens the EU sovereign debt crisis E95 · 2022-09-10 ▶ 50:58

So I think we're headed for not just an economic crisis, but a political crisis in Europe because the fundamental tension between the needs of these people, which is to basically preserve their economy and to stay warm in their homes, and the ideology of their leaders who are fanatically committed to waging a proxy war against Russia instead of finding a diplomatic outcome that was available last year, it was available in January, it was even available in March or April.

Chamath support ×3 ▼ on 🌍 Europe eats the bill - energy crunch reopens the EU sovereign debt crisis E95 · 2022-09-10 ▶ 35:54

The German energy minister yesterday said that if that happens, it could be a contagion equivalent to Lehman Brothers with respect to energy. You're already starting to see food riots, food insecurity, energy insecurity, rampant inflation, sovereign defaults.

Friedberg support ×3 ▼ on 🌍 Europe eats the bill - energy crunch reopens the EU sovereign debt crisis E95 · 2022-09-10 ▶ 17:44

seeing their national and sovereign debt skyrocket, which is now expected to happen. And as a result, the British pound is trading at its lowest level since 1985

Chamath support ×2 ▼ on 🌍 Europe eats the bill - energy crunch reopens the EU sovereign debt crisis E94 · 2022-09-01 ▶ 1:03:30

Which is now going to cripple many economies of that entire continent unnecessarily.

Sacks support ×2 ▼ on 🌍 Europe eats the bill - energy crunch reopens the EU sovereign debt crisis E94 · 2022-09-01 ▶ 54:36

And one of the byproducts of the production of fertilizer is CO2, which gets added to the production of beer to make it fizzy. Well, guess what? The Germans are not only about to run out of gas, they're about to run out of beer. You think they're going to keep supporting the Ukraine War when they find out that there's no beer for Oktoberfest?

Friedberg support ×1 ▼ on 🌍 Europe eats the bill - energy crunch reopens the EU sovereign debt crisis E90 · 2022-08-05 ▶ 26:49

There's obviously a massive problem with getting gas to Western Europe for this winter.

Chamath support ×2 ▼ on 🌍 Europe eats the bill - energy crunch reopens the EU sovereign debt crisis E90 · 2022-08-05 ▶ 18:00

So if you play all of that out, you start to see an issue where by, you know, October, November of this year, we're back into the same complexity where energy is the tip of the spear around which everybody starts to debate all of the national security issues that we have to deal with, the Ukraine war, et cetera, et cetera.

Chamath support ×1 ▼ on 🌍 Europe eats the bill - energy crunch reopens the EU sovereign debt crisis E87 · 2022-07-14 ▶ 1:21:30

It's supposed to be back up by July 21st. And so the real question is what happens if Putin hand checks Europe and just takes an extra day or two to get that thing back up and going?

Sacks support ×3 ▼ on 🌍 Europe eats the bill - energy crunch reopens the EU sovereign debt crisis E87 · 2022-07-14 ▶ 1:21:42

Let me make a prediction. I think the Western Alliance is going to fracture come this winter.

Sacks support ×2 ▼ on 🌍 Europe eats the bill - energy crunch reopens the EU sovereign debt crisis E84 · 2022-06-24 ▶ 1:23:02

countries like Germany and France are really going to question US leadership when they have basically a huge economic recession and they're wondering how they're going to heat their homes in the winter

Chamath support ×2 ▼ on 🌍 Europe eats the bill - energy crunch reopens the EU sovereign debt crisis E84 · 2022-06-24 ▶ 1:12:02

we pulled and we pressured Europe to really draw a hard line. But then now are kind of working around it so that the countries that suffer the most are Europe. ... according to Europe, a Lehman like situation in terms of economic contagion that could manifest over the next months.

Friedberg support ×3 ▼ on 🌍 Europe eats the bill - energy crunch reopens the EU sovereign debt crisis E84 · 2022-06-24 ▶ 1:24:06

there continues to be escalating issues with debt and concerns about debt repayment across the EU. ... Greece made a payment recently, but Greece's debt to GDP is still over 200%. ... the spread on Italian debt has spiked over the last couple of weeks.

Chamath oppose ×3 ▼ on 🌍 Sanctions blow a hidden hole in leveraged counterparty books E71 · 2022-03-05 ▶ 17:28

I think this is a complete red herring. ... the global total market cap of all of these businesses is meaningfully different than the amount of total capex that these guys represent. And in as much as you are going to take the equity values of certain of these companies to zero, it's in the grand scheme of things, not that much equity value.

Friedberg support ×3 ▼ on 🌍 Sanctions blow a hidden hole in leveraged counterparty books E71 · 2022-03-05 ▶ 17:56

Forget about the equity value. Just think about the economic repercussions where there is leveraged positions and swaps and derivatives in place, counterparty swaps in place with a lot of these companies that are now going to default. And we're not going to know that till the end of this month when everything has to settle and no one's going to be able to make their payments. ... The shock to the system, I don't think, has yet been realized. And I think we'll know at the end of this month when books close what things actually do to businesses, to swap agreements, to trades