Today, I have another video update I filmed while on my recent trip to the United Kingdom.
On my trip, I saw firsthand how the energy crisis is playing out there. And it was eye-opening, to say the least.
The government there is implementing tax cuts and energy price caps. But still, the crisis deepens.
When I visited the Library of Birmingham, I learned that it’s going to be opened to those who can’t afford to heat their homes this winter.
We can’t ignore what’s happening on the other side of the Atlantic.
That’s because it’s happening here, too. Already, 1 out of every 6 American homes is behind on its utility bills. They owe a total of $16 billion in unpaid utility bills, double the amount outstanding before the pandemic.
And worryingly, there’s another crisis just around the corner… It will affect every man, woman, and child in America. But millions of Americans will be blindsided…
That’s why tomorrow night at 8 p.m. ET, I’m airing an urgent broadcast to prepare Americans for the worst…
Because if you know what’s coming and prepare, you could even turn crisis into the opportunity to make as much as 1,000% gains as this historic distortion unfolds.
Then click the image below – to watch my latest video update. It’s just under six minutes long. And as always, I’ve also included a transcript below.
Let me know what you think at [email protected].
And don’t forget to tune in for my urgent briefing tomorrow night at 8 p.m. ET.
Editor, Inside Wall Street with Nomi Prins
P.S. Unfortunately, nearly everyone is missing the cracks that are already beginning to show in our economy. America’s next major crisis will be far bigger than energy shortages and price increases.
As the contagion spreads from Europe to America, it will broaden from the energy markets to the financial system. Your retirement funds could even be at risk.
That’s why tomorrow night at 8 p.m. ET, I’m going to explain what’s coming and how you can prepare. I’ll even show you a strategy to make up to 10 times your money as this crisis deepens.
I urge all my readers to tune in. Just click here to save your spot.
Hi everybody, Nomi here. I’m coming to you from Birmingham in the United Kingdom, where I am for some boots-on-the-ground research.
This vibrant second city, as it’s called, is about two hours northwest of London in the West Midlands, or actually, the heart of England.
It’s where I used to spend time away from London while I worked there as a senior managing director at Bear Stearns in the 1990s, and also, ever since.
Behind me is the gorgeous Library of Birmingham. It is the biggest, single-site public library in all of Europe. It houses the U.K.’s, and arguably the world’s, most important Shakespeare collection among its one million items.
It also happens to include my book, All the Presidents’ Bankers, which is something I just discovered here today.
Nomi discovers her book, All the Presidents’ Bankers, on the shelves of the Library of Birmingham
And very soon, it’s also going to include my book, Collusion, and my new book, Permanent Distortion.
But this awesome library signifies something else… It signifies Birmingham’s redevelopment. This whole area does.
And it also serves as a focal point for learning, for education, and as a tourist attraction.
And importantly, it’s also actively transforming what libraries can be used for, especially during a crisis.
But more on that in just a moment…
Real, Unrelenting Crisis
Because you see, right now, the United Kingdom is likely headed for a recession.
It faces inflationary pressures not seen in generations. And the fear is that this red-hot inflation isn’t cooling off anytime soon. By some estimates out there, inflation here could rise to over 20% by next year.
And to make matters much worse, an energy crisis is threatening to send the cost of living to extreme levels. All of this comes as winter is right around the corner.
And with the Russian war in Ukraine nowhere close to being over, and Russian energy being reduced or cut off from Western Europe, what’s happening is that the energy crisis here in the United Kingdom and in Europe is very real. It’s unrelenting, and it’s critical.
The price of natural gas in the United Kingdom is nearly five times what it was just a year ago. The cost of energy could rise from 12% of household disposable income for the lowest-income earners in the United Kingdom in 2021… to 41% by next September. That is just crushing.
A Novel Approach to the Energy Crisis
Now, after speaking with many of my contacts here on the ground and throughout the country, I know that the fear is that something called “fuel poverty” could be coming next.
And the question is, “What can be done to solve this crisis?”
[For details on how you can turn this global energy crisis into the opportunity to make as much as 1,000% gains, click here to register for my urgent briefing tomorrow night at 8 p.m. ET.]
Well, all eyes are now on the newly selected United Kingdom prime minister, Liz Truss. The Conservative Party leader faces a crisis on the scale of Covid. That’s because of how indiscriminate, and how economically threatening, the energy squeeze could be… and could become.
Her proposed strategy is to cut taxes and to cap energy costs for households.
But even if that can happen, that still leaves many small businesses on Main Street in a really serious pinch. And sadly, it might get worse before it gets better.
And that brings us back to why I’m here at the Library of Birmingham.
Places like this library are being set up around the country as warm banks. People that are struggling to heat their homes will be able to come in. This is to help protect them from what’s going to come when the cold winter hits.
All of this is one key sign that the energy sector is going to see growing demand, especially headed into this winter.
What This Means for Your Money
So what does that mean for you, for your money, and also for your fuel bills?
Well, this crisis could also serve as another very serious wake-up call to energy independence, to overall sustainable energy efforts, and to enforce a quicker shift into energy-efficient technology.
But meanwhile, traditional energy sources still remain the bedrock of all our energy needs throughout the world. And that impact is global.
Europe has now overtaken Asia as the biggest destination for U.S. liquified natural gas (LNG). The U.S. delivered nearly three quarters of all its liquified natural gas to Europe in just the first four months of 2022 alone.
Overall, daily shipments to Europe have tripled over last year’s average.
And in addition to all of that, there’s every reason to believe that the special relationship between the United States and the United Kingdom is going to prove pivotal this winter as this energy crisis deepens the United Kingdom’s needs.
And as tensions with Russia and Russian energy problems linger, you can expect the United Kingdom and Europe to seek such alternatives much more vigorously.
That is why natural gas is going to remain center stage.
Plus, multinational fuel companies like Shell and British Petroleum are going to continue to benefit from their role in both old and New Energy transitions as part of The Great Distortion.
Happy investing, and I will talk to you soon.
Nomi’s Note: As a thank you for tuning in tomorrow night, I’m giving away the name of one of my favorite stocks, which I think could become a blue chip over time… along with a special report my team and I put together called The Dirty Dozen. In it, you’ll find 12 energy stocks to avoid at all costs.
Anyone who shows up to my event will get these for free – no strings attached. All I ask is that you join me tomorrow night at 8 p.m. ET. So don’t wait – Reserve your spot right here.