Yanis Varoufakis exposes Europe's energy scam

Power companies have hiked the price of electricity, making a tough winter even worse. And this time, it’s not just the poorest who are affected. The middle class is also feeling the squeeze.
How much of this is due to how our politicians have set up Europe’s energy market, and how much to corporate greed? What other factors are at play? And how can we get out of this mess?
Yanis Varoufakis exposes Europe's energy scam and explains how we can overcome it.
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#europe #energy #scam

[@user-xm5is4dz2z]

The music carpet is something that undermines his arguments. I could do without it.

[@herbalfleece8821]

I think it works well, engages attention

[@MikeSmith-tx2lp]

@@herbalfleece8821everyone is wired differently, I too find it distracting.

[@donrayjay]

The media is complicit in this too. The idea that record prices and record profits go hand in hand for a basic necessity that is supposedly regulated by the state is an insult to our collective intelligence

[@36AccountsBlockedRIP]

In this digital age serious (investigative) journalism rarely reaches the shores of the streamlined mainstream media conglomerates.

[@GBPaddling]

The Media ARE the Government, and the word Google might as well read as Government.

[@banzobeans]

It helps to foster hate for the boogeyman.

[@dinnerwithfranklin2451]

And yet it works and our "collective intelligence" just shrugs and says it is the way things are.

[@wugy07]

The banks are complicit too, financing socialist governments to 'stimulate' the economy with record profits.

[@OldeJanner]

UK has been royally shafted by privatisation of every utility and we are now cash cows for foreign shareholders, ditto our supermarkets which 80+% foreign ownership!

[@danielleweterings5544]

The Netherlands overhere the same some pay 500 euro a month

[@yaoliang1580]

European countries are no longer real democracies but are corrupt pro oligarchs plutocracies

[@JethroCramp]

I thought this was just in the UK...but Europe-wide? It's absolutely insane. Thank Yanis.

[@miguelf7717]

Yes. In Spain is exactly the same. It's ridiculous.

[@stigonutube]

Australia same..

[@ioandragulescu6063]

yeah, in Romania they introduced this last year, with the obvious consequences .....

[@WithmeVerissimusWhostoned]

The same scheme in Czech Republic.

[@manuellopes3690]

Same in the USA!

[@gordianknot5625]

You forgot to add that the sanctions are massively benefiting US gas producers.

[@jakobthelibrarycard6261]

They're not gas producers though. They are exploiting a natural resource until its all gone. Gotta love 'em!

[@seaman5705]

What to do ? To give the money to the Russians instead ? They did it until now and they fueled a war machine .

[@ivilivo]

Norway is earnig shit loads of money now. But not Norwegians, we are also paying extortion rates on electricity

[@seaman5705]

@@ivilivo Because Norway runs the same capitalist system and "the oligarhs" need to make money ? Do ask your government how much they tax your gas producers/exporters and what they do with the money !

[@partidaportet27]

US and Norway blew up Nord Stream. the USA are desperate to remain as a super power and are happy to ruin the lives of citizens in its so called Allied nation if they think it will help that cause

[@51gan788]

Protect this man at all costs. And i'm not saying that in a jokey way

[@kp6215]

Amen

[@ElizarTringov]

Because....reasons?!

[@Inprimus1]

If he has to explain, then you don't need to know.

[@ElizarTringov]

@@Inprimus1 When someone uses the phrase "protect someone at ALL costs" that definitely deserves some questioning. Either this person doesn't understand what the word "all" means, or what he really means is "protect this person within reason" but then why not just say that? Never mind the fact that if someone high up in business or government really wanted this man dead, they would have hired a hitman and he would be dead by now.

[@reljamrkic2663]

@@ElizarTringov He is not pulling enough people to his side or view to be deemed a threat. When he crosses a threshold and incites masses to take action they will act, be sure of that. Let me just state now, a bit ahead, that Yanis Varoufakis will not commit suicide. You know, just in case they try to push that story at some point in the future.

[@soniferous]

Knowing that human beings like Mr Varoufakis still exists give me hope for a better future.

[@dimitriosdesmos4699]

yeah like, i hope one day my kitchen looks like his.

[@tonywilson4713]

You are so right, but he does need to be a bit more careful with his language at times. People like him and Piketty and Wolff need to realise that nobody is going to flip back to any sort of Marxism. It will be some from of new economics that might be a hybrid of others things. Yanis likes to call everyone "comrade" and that's ok with me but certainly not ok with many people. Like a few others he needs to realise that Marxism (communism/socialism) *FAILED* or at least accept that the way Marxism (communism/socialism) was practiced *FAILED and FAILED MASSIVELY.* From the Gulags & purges to the environmental catastrophes of places like the Aral Sea, *Marxism in all its variations FAILED* and nobody is going to go back to it. What the Capitalists need to realise is that capitalism has ALSO FAILED or at least this version of capitalism (neoliberalism) has failed. Just like some of the Marxists don't want to admit Marxism failed the capitalists don't want to admit capitalism has failed. On that Yanis and others are 100% right, we need new economic ideas.

[@szymonbaranowski8184]

@@dimitriosdesmos4699 he will "convince" the superrich to share with you, there is hope for that 😂

[@szymonbaranowski8184]

@@tonywilson4713 Both systems problem is centralisation and rotting from inside. You don't want the top of pyramid cannibalising the rest. You want a genius feeling closeness to the kin that produced him sharing voluntarily. Being admired but not becoming a cult leader or blocking new geniuses arising. You want a world of organic communities, building own things, not merging into one global tribe of the same shapeless blend ruled by a few regional pharaohs and a close circles of acolytes. You want a stable system. With a constitution, guaranteed freedoms, property rights (but inability to sell national common heritage), and limited law, changing slowly, with long delay. Without central planning. With organic dynamics. Without any global, especially sudden untested solutions. You don't want exponential processes or accumulations disrupting system in radical ways. You want it to self regulate and adapt but also stabilise itself by keeping old ways too as a backup in case of need to revert stupid new shit damage. You want rich to have more children and divide their share of wealth not concentrating more and more. You want them to fund new things and keep old thinks. You want to know who owns big things, personal transparent responsibility for a company, project, actions. No shared responsibility. no bailing of big failures. You want conservative big things that you know impact everything unpredictably, bringing risk of a total chaos. And you don't want anybody to know who owns small things. Free fluid micro, less free standardised macro with full transparency and public data. You don't want big money in politics. No voting on packages, parties. You want referendums on every big change. You want regions with different laws decided by locals and more free space for own personal decisions. But you also want a big funding for local cultures. Keeping own languages thriving, culture regionalised not globalised. You want variety in big scale and homogeneity of identity in low scale. Ability to move to place that suits your identity more as long as that community wants to accept it. Any community should be free to isolate if they prefer it. You don't want one system everywhere. Believing in one system is a mental disorder by itself 😉 And I don't want one system having ability to corrupt and buy up another. Systems should have own trained immunity to virus or parasitism of other system. Some self survival instincts and intolerance built-in. Also ability to ally with other not liked systems in order to defend own status quo, confederation style. I want the world to be decentralised ancient Greece with many polis trying out own ways and ideas, beliefs. With limited external cooperation framework like Olympics culturally bringing closer once in a while with fair play. But if it requires a despotic rule for time of war against Rome let it be possible, by voluntary choice. Rohan, Elves, Gondor, Hobbits. Herders, Vegans, feudal graineating rats, forest dwellers. Kingdom for every sort of freaks. Like partitioned Germany ages ago. And send all feminists to their own Amazons place. Let them get all they want and feel the pain fully on own skin to it's full extent.

[@tonywilson4713]

@@szymonbaranowski8184 Buddy get off utopian drugs and learn some practicality. Utopian fantasies have never done anyone any good or solved any problems.

[@witHonor1]

When common sense has to be explained, it's no longer common.

[@fayezfarhan4893]

To think that all these oligarchs from different nationality reap benefits because of cosmic accidental coinciding of interests is foolish. I don't resort to conspiracy theories but if you will read histories of empires organised networks, secret lairs have been very common. Its no big deal. And given that they are able to hold scams in from of our plain sight in name of World Economic Forums where Government & Private alliance is openly celebrated and later justified in our school books. It's definitely not a conspiracy theory anymore rather a conspiracy reality.

[@yukitakaoni007]

to be fair, he did said this scam is complicated.

[@carstenfischer5098]

Thanks Yanis we need more brains like yours to tell us how things really works! Inflation is also a big scam. Love from Denmark

[@markpalmer8083]

Yes it is. It is caused by increasing the number of currency units out of thin air, debasing the currency and reducing the value of every currency unit that every one owns. It is fiat money garbage. It's money that steals from you. Why would you want to own anything that someone can just create more of out of thin air? All roads lead to Bitcoin now. Try making more of that out of thin air, debasing and corrupting it.

[@karonneevits513]

name one thing that is not a scam lmao

[@DavidKlausa]

Yanis shed some light on inflation in another video. He explained that much of it is due to technofeudalist corporations like facebook and amazon only reinvesting around 1% of their profits, compared to 85% for more traditional companies. That other 99% essentially gets siphoned out of the economy and the government has to print more to compensate for that loss.

[@charliebrandt2263]

From UK: Sadly I worked out the scam a long time ago, but any chance of reform is scuppered by the suppression of any information, and any public challenge in tandem. We live in a truth free world.

[@grahambennett8151]

You were never alone, but somehow, it sure feels like it, sometimes.

[@yaoliang1580]

A world of lies n deceptions caused by your corrupt leaders relentless fake news propaganda

[@breft3416]

Please offer a no background music version. Good stuff as always from the professor!

[@WickedMuis]

kzbin.info/www/bejne/hJrGdmNjg56orpI Full video without music

[@user-xm5is4dz2z]

True that!

[@user-xm5is4dz2z]

@kualsvinus9593 They are called the subs and you propably need them more than the ones you call retards!

[@user-xm5is4dz2z]

@kualsvinus9593 what sub? the yellow one? from the Beatles?🤣🤣🤣🤣

[@fburton8]

I was going to ask if there is a transcript available or a version without the music. For some people (like me) it is VERY distracting.

[@stigandrmyrardalur5208]

Unfortunately this has happened all over the western world.... Education, electricity, healthcare, railways etc should definately stay under public ownership....

[@Jakedegaye]

Yeah nationalise fuel,education and healthcare .. Free markets for the rest.

[@gencfblienes]

Yeah Goodluck trying to establish an Islamic caliphate

[@stigandrmyrardalur5208]

@@gencfblienes WTF are you talking about...?

[@gencfblienes]

@@stigandrmyrardalur5208 public ownership of all those things only happens in an Islamic state not a capitalist socialist state

[@stigandrmyrardalur5208]

@@gencfblienes damn, your scary ignorance has to be caused by rightwing propaganda in USA. 🙄 According to you most of Europe allegedly is a "islamic caliphate" 😂 This has to do with political will to make society best possible for ordinary people, without letting cynical capitalists screw the population like in USA, not religion.

[@brianwheeldon4643]

This is great Yanis and DiEM25, much much better with the diagrams keyed to the main points, and overall simplification, than the original. Cheers and thanks!

[@SusannaSaunders]

But the music background is a big distraction. Very annoying! Please stop this practice!

[@emperorspock3506]

To the editor of this video: the reason people hate the music is because the bass loop in it is competing with Yannis' voice (same frequency range). Reduce the general volume of the music track, and try adding a high-pass filter to it and playing around with the cutoff frequency (200-250 Hz is a good place to start) to calm that bass down.

[@johnlesoudeur3653]

Or just have no "music", it is so irritating and makes this important topic almost unlistenable.

[@studiophantomanimation]

Does anyone else feel powerless to stop the oligarch's and their stranglehold on our governments?

[@chookbuffy]

Absolutely! Only through strong community action I think can see hope to achieve anything. And that in itself is a challenge. But we have to try

[@36AccountsBlockedRIP]

They can only go so far pushing the populace. Sadly, crises are usually necessary to awaken a passive and sleepy populace. Through strikes, struggle and sacrifice the balance of power again will shift, even if the same oligarchs can profit financially from economic downturns.

[@Google_Does_Evil_Now]

Furck these swines! Enough is enough!

[@bouji_]

Yes, but it isn't a bug. Rather, it's a feature.

[@danielleweterings5544]

@May L In the Netherlands some people with a variable contract no fixed price some people even elderly pay 500 to 600 euro 's a month!!Luckely I have a contract with fixed prices for 1 year and solar panels I pay 170 euro a month but only because of my 8 solar panels I get 600 euro back at the end of the year..Older people are freezing in the UK and the Netherlands its more tv e b criminal so yess

[@zawarshah508]

I am surprised that you are still alive 😳. However I am extremely happy that you continue to speak truth to power. We are lucky to have you around to tell the masses about the scam being carried out on us.

[@Natsukashii-Records]

They did try to get him, someone(paid by a local oligarch in Greece) attacking him at Exarchia. It doesn't help that Varofakis refuses police protection but given the recent case of the chief of police working with the Greek mafia, and the PM using police and the secret service to spy on opposition parties, I can see why he doesn't trust them.

[@KieranDF]

Fantastic distillation from the original podcast. This opened my eyes to just how sinister global machinations really are. Thank you to Yanis, team and power to DiEM!

[@randomandcasual7494]

Not really fantastic, I, as a layman had to watch second time with pauses in order to understand how this scam works. I afraid not many people will do the same. But still, better than not even trying to explain to regular people, how system really works. So props for that.

[@KieranDF]

@@randomandcasual7494 If you saw the original episode this was taken from, you would probably feel that even fewer people would understand, hence why I said it's a fantastic distillation. Unfortunately the world isn't simple to understand (as it's designed to be so) but Yanis, as always, does a fantastic job in relaying vital information that should be heard in every household. Who else is teaching us this stuff???

[@minasmarioskontid]

What is the original podcast?

[@KieranDF]

@@minasmarioskontid kzbin.infoNicE0-N9ux0?feature=share

[@theresanolan1157]

@@randomandcasual7494 As Yanis said, the companies and government make it complicated for the very reason that the machinations will be difficult to comprehend for us mere mortals......

[@lz.mirandix6688]

An outstanding explanation about the political control of the energy so-called "market" trough the privatization process. That occurs in similar fashion also in other markets around the world where the general privatization has happened.

[@shazamshazamshazam696]

The, "free market," is an unregulated seller controlled market, yes the trend is always to monopolization after privatization.

[@dadda4940]

@@shazamshazamshazam696Where were you when gas was 15p a therm rather than 150p? Does supply and demand not matter anymore?

[@shazamshazamshazam696]

@@dadda4940 Supply & demand don't matter when there is a near monopoly or monopoly.

[@MeMe-ei7uv]

That market that gave you internet !!!

[@jaymacgee_A_Bawbag_Blethering]

I’ve listened to Yanis before and been impressed with his ability to cut through the fog of red tape and vested interests , this is another example of shining a light in a space where governments and big companies prefer the dark . He talks so much common sense your left thinking “ yeah… why didn’t I see that before myself ? It’s obvious now he’s explained it so well ! “ 👍🏴󠁧󠁢󠁳󠁣󠁴󠁿

[@oktobar1981m]

Thanks Mr Varufakis it is eye opening as always! Now journalists have just to publish it so there is more information to the people.

[@RobWhittlestone]

Yanis Varoufakis has long been one of my heroes, with good reason.

[@yaoliang1580]

One man's truth against 100 men's lies

[@lesatkins42]

I believe it was David Cameron who agreed to allow the generators to merge with the retailers in the UK. Originally they were separate and for good reason.

[@750triton]

That man could crawl under a snake while wearing a top hat

[@crabby7668]

Originally it was one sate owned company the CEGB

[@ziegle9876]

There is no more left and right. Only honest and dishonest. This is an honest man.

[@myNamezMe]

There was always something about the high electricity prices which didn't add up. Seems like we aren't meant to have abundant cheap energy/electricity due to greed.

[@cornishhh]

Hence the universal promotion of green policies.

[@csuporj]

Electricity is too cheap, so they can increase the price. Just like cigarettes.

[@franciscorosa760]

It is because of these things that Yanis Varoufakis no longer ministers, and he is a vlogger. But now he sleeps well at night, he no longer has the stress of being in conflict with his conscience. And a stress-free life equals more years of life, and quality life.

[@ueeneri]

The background music to this video is beyond irritating. It makes it impossible to concentrate on what's being said. I gave up trying and I'm pretty sure other people will do the same.

[@IntegrationalEdu]

Yanis is genius. He produces concise, clear communications and offers solutions! Hope!

[@MeMe-ei7uv]

PUTIN is the shit now

[@tonyhladun9081]

For a number of years I was an advisor to the Alberta Electrical System Operator (AESO) and that system is similar to what Yanis describes for the EU. Like him, I found the idea of paying everyone for the highest marginal bid price made no sense. The argument for it was that it provided high profit and incentive for the most efficient generators to build more capacity. However, the price swings are so volatile and short lived that no one can make a 30 year investment based on them. In Alberta we now have the capacity to generate up to 50% of average demand using solar and wind, but when that happens prices are low and at other times the prices are very high. So the average levels out but it's still a bit goofy. It's like buying a car and the dealer sending you an extra bill for the difference between what you paid and what the most expensive car sold for that day!

[@carmen47freixas96]

I am so tired of lies, of govt, of evil, the saddest part is the no one talks about PEACE, this word is forgotten... no wonder we are in such a terrible place.

[@jonathanfontaine2325]

I hate to ruin your day but this Yanis guy is lying to you too.

[@foxred1007]

@@jonathanfontaine2325 Sorry to ruin your day but you are just an asshat.

[@siiluviilu]

​@@jonathanfontaine2325 what part of it was a lie?

[@jonathanfontaine2325]

@@siiluviilu I got kinda tired of listening to this guy again around 3:30, but up until that point here are the most obvious indications that he is lying: 1. You can't have 50 competing grids so you can't have a power market. That's nonsense. It's the power suppliers that are competing, not the grid operators. It's like saying you can't have competing trucking companies because you can't have 50 road networks. 2. He keeps talking about simulating a market, but it is not even clear what he means by that. 'You need to impose government rules, because it is not a real market.' Any market needs rules, otherwise it is not a market but a free for all. There are parties buying and selling goods; it's a market. I can't even make sense of this. 3. 'In this market, the company offering the highest price wins.' This is plainly false. Every day there are companies offering at €3000,- or more, but this price has never cleared the market. The market price is the *lowest* price at which power demand can be met. 4. '...it was intended to be complicated.' Please start folding your tinfoil hat now. He doesn't even try to substantiate this. 5. 'The difference in cost has tripled, (so it is a scam?)' It is not the profit margins of gas or coal plants that are going up. Those have shrunk. Heck, most coal plants have gone bankrupt over the past decade (if they weren't forcefully shut down). The fact is that there was practically no renewable energy when this system was introduced. Their marginal production cost is 0, so of course they have huge profit margins as long as they are competing with gas plants. This is at about 1/3rd of the video, I hope this is enough bullshit for you to make my point.

[@siiluviilu]

@@jonathanfontaine2325 cheers

[@SoCleva]

This was powerful! Thanks Yanis, if there were more people like you the world would be a better place.

[@everdinestenger1548]

Spot on!!! Another Greek who tells the truth. He is right, it is happening in Holland now, the govt has lowered the price of electricity they "buy"from solar panels.

[@adrischolte]

I agree. Energy (and food) supply is used as means to suppress the population anywhere, also in the so called free world.

[@danielleweterings5544]

YEP I am dutch exactely what our government is doing

[@ttystikkrocks1042]

It's too confusing for anyone but Yanis Varoufakis to explain clearly. Well done!

[@sandrasweeney798]

Thank you for clearly describing what is happening. I have tried to explain this to friends and they refuse to get it. Hopefully, your video will do what I cannot: open their eyes to the rot.

[@zawarshah508]

You are indeed one of the greatest political leaders of our time. As always you tell the truth to the public. I hope you stick around awhile for the masses will need people like you to tell the truth. It is what it is sadly 😥 Appreciate your efforts to enlightening us all.

[@marthas.4456]

This is capitalism, pure and simple.

[@alihenderson5910]

Don't worry, Marxist utopia incoming. You will own nothing and be happy.

[@MarcoFHQ]

I honestly hit my desk in a fit of rage just from hearing this, and I'm a pretty peaceful guy

[@jonathanfontaine2325]

I hope you will feel better knowing that this is a gross oversimplification, and mostly false.

[@EdwinaTS]

That's why I was never tempted to buy complex products from the finance industry.

[@deswillis3490]

Yanis how right you are, this is another case of politicians putting their own interests into industries that they know nothing about and then killing that industry as a result.

[@jerrybrickley2115]

@des... Uhhhhh, aren't these unscrupulous politicians elected by the people and subject to subsequent elections? So, uhhhhh, who are the really stupid ones in this process?

[@arash4712]

This man is cleaver. Good on you sir

[@hansweissmann_xviii6754]

So clear, so thorough.......

[@KptnKMan360]

Every time I've heard this man speak, he speaks absolute sense.

[@Gilmaru]

Χρειαζόμαστε ένα τέτοιο σύντομο και απλό βιντεάκι στα ελληνικά!

[@laszlonemet4425]

Xwpis nling nlong

[@Gilmaru]

@@laszlonemet4425 Εγώ θέλω με γκλινγκ γκλονγκ, είναι πιο ευχάριστο. :P

[@zetristan4525]

Won't it be all Greek to listeners then? :) It's already complicated enough

[@glorious_help]

Τα είπε στην Βουλή και μετά δεν το δείχνει κανένα κανάλι

[@Gilmaru]

@@glorious_help Ακριβώς γι αυτό το λέω. Και ένα τέτοιο βίντεο είναι πολύ πιο πιθανό να το δει κάποιος από μια ομιλία στην βουλή καλώς η κακώς.

[@nekonesto5601]

We need people like Yanis to keep educating us.

[@Juan-ud3if]

Very informative, the whole System is a scam. Keep the truth alive and kicking Corrupt butt.❤❤❤❤

[@MrBorceivanovski]

Mr Yanis always says absolute true 👍 Let Angel protector be with him all the time #$#

[@headsails]

The reason why our society is so dysfunctional is the masses have been coerced into accepting competition as the reason why they do what they do. There is no simpler explanation. The sooner everyone quits accepting that, the sooner we’ll get on the right track.

[@pedroghirotti]

Listening to Varoufakis is like a breath of fresh air. Thank you!!

[@ramplense01]

The same is happening with the benzine for the cars. Here in Crete Island we are paying around €2a litre and in Cyprus is €1.399, we are beside them and they are a smaller country than Greece, why that huge difference in price?

[@paulgibby6932]

Thanks Yanis. I would say your principles apply to any resource required by all the people of a state e.g. besides energy, water, transportation, internet access, basic housing, food and shelter.

[@staninjapan07]

Surely the principals which apply here, he applies for the main/sole reason that electricity delivered over a grid to each house through only one cable cannot be a market, as he said. How could food, for example, have the same principals applied to it? I could, for example, by food from the small local shop, a big box store, or the farmer as I pass his field on the way to a local market, where I could also buy the food. Perhaps I misread your comment. When you say "principals apply... besides... transportation...", that seems to counter what I believe you yourself are arguing for. Could you clarify for me, please?

[@paulgibby6932]

@@staninjapan07 Well, you have a point. When there is only a single point of delivery, as with electricity to a home, that is different from consumption of food. Housing, food and shelter fall under a different principle from energy, water and transportation systems. I'm not smart enough to describe how these fundamental needs should be provided by an enlightened state. Perhaps in Another Now.

[@spoonikle]

@@staninjapan07 Make the minimum life, shelter, simple food, education and recreation always free. Government jobs with “printed money” (to keep the minimum living standards going) with taxes on the citizens to control inflation - like every nation. Spend more, tax more, it protects the savings and value of the currency for stability of life - only the wealthy face taxes, as money itself is a luxury that you can live without thanks to everyones collective effort. Nobody is entitled to be crazy rich, but if they work hard they can get pretty close, just within the labor standard set by the government. The wealthy and powerful are commanders and slave drivers and will give you the bare minimum you will accept. Simple as that. Vampires sucking the life out of the desperate. And I mean that literally. You give them your life - your clothing, your culture, you ideas, thoughts and even your dreams - we serve it up as a new idea to make the lords money. Any business you start will need their oil, it will need their debt, you will need to buy raw materials from some massive corporation - you may pocket a tidy profit, but your business was still to make them money. You buy all your food from 6 different noble houses, now called corporations. Wether you eat or not is controlled by them - if not for government regulation, our regulations. We all must build dual power, construct new means to produce without leaders, without masters of ANY kind.

[@robertheap2911]

I think basically, anything that is an essential need. Eg. energy, transport , water,healthcare, social housing, education etc , for the general public good. So it’s costs and standards are controlled. As against wants and desires . Eg : Jewellery, cars , fashion clothing, Xbox, Netflix . You get the idea.

[@staninjapan07]

@@spoonikle Though I agree wholeheartedly with your final sentence, I am not sure how relevant the main body of your reply is to what I wrote, but thank you for replying. That noble houses, as you put it, decide what we the plebs do, is common knowledge and has been for a long time for anyone willing to ignore the barrage of comments and responses from friends, colleagues and family that read anything along the lines of, "you're paranoid", "how would they do that", or the good old "conspiracy, eh"? One need not stoop to the amusing depths of, for example, David Icke's "The queen is a hybrid of human and lizard-like alien" in order to speak without embarrassment of the obvious feudal nature of most societies.

[@kostasjezuz4846]

What sanctions?!?! FOR REAL? My neighbour is a captain on oil tankers, he tells me they load oil from Russia, unload it in India, then immediately another tanker loads the same oil (baptised Indian) and brings it to Europe. There's no sanctions, just the price becomes higher and oligarchs profit from it!

[@TwoBassed]

Everything working to plan!

[@michaelcrouch5708]

Many of the shareholders are MPs and lawmakers, they wont declare this because it's done in an underhanded manner, ie through family members etc.

[@twogsds]

Dear Yanis, thanks for this brilliant explanation, the small problem is that Green Hydrogen is a red herring, if you use energy from solar, hydro, wind etc it takes more energy to split the Methane molecule than just using the energy for what you need, also the Hydrogen atoms don't have much energy because the carbon atom of Methane has all the energy, so 2 things are the Hydrogen doesn't have much energy and the molecules are very tiny so if you want to run your car (for instance) on Hydrogen firstly you would need to reinforce the storage and transportation devices and they would have to be regularly replaced as Hydrogen makes metal brittle and secondly you would need about 3 tankers of Hydrogen to get the same energy as one petrol tanker. Hydrogen is a dead ean we need to heat our homes and run our cars and industry on electricity gained from green sources and stick with that.

[@MostIntelligentMan]

lol no hydrogen is most energy dense fuel in existance, thats why used in rockets, now making the hydrogen is very energy intense process so its not worth it

[@grahambennett8151]

@@MostIntelligentMan In any case, you have to factor in other things. Efficiency is not everything. Effectiveness is what counts. Steam power is only 30% efficient, but it has got us where we are today. Most solar is 20-25%, but who cares, when power is so expensive and the sunlight is free?

[@alanrobertson9790]

@@MostIntelligentMan Energy released per kg of fuel (MJ) 142 H2, 46 Petrol. However that's misleading as Petrol has much higher density and its the volume carried that matters. Having high pressure hydrogen tanks is not a great safety feature and prone to explosion rather than burning when released.

[@alanrobertson9790]

@@grahambennett8151 Similar situation with heat pumps vz gas boilers. Heat pumps are more efficient but its using expensive electricity over gas which was cheap.

[@blackcarmafia]

And what do you do with all the windpower at night when its not needet? Or a lot of sunpower in summer on really sunny days? Once greens are closing on 100%, there will be a LOT of surpluss energy generated out of pure nature of how renewables are produces ... Dependent from nature, sun and wind.

[@johnmcentegart007]

Thank you Professor for the opportunity to understand this important information.

[@Teresa66584]

Moltes gràcies, Yanis!

[@carmen47freixas96]

Hola maca. Quin mon mes boig.

[@135789able]

Thanks, Yanis. You're the man!

[@MrChriswelch80]

Thanks Yanis, that was great. 👍

[@bigdaz7272]

Thank you Yanis. Bubble Wrap this Man

[@martefact]

OMG so glad to see this brilliant explanation made into a simple series of infographics. I listened tot he full 25 minutes when this first appeared on KZbin. Had to watch it three times to recount - little hope of convincing any of my friends to do the same. Brilliant work!!!

[@iandeumayne-jones1557]

Yanis. Why is this still happening and why haven't we, the people, done anything about it? Beautifully explained and articulated as ever Yanis. Top man.

[@justinphilpott]

Because we are engineered to be compliant blind sheep, mostly.

[@eworldRick]

I knew you could do it. You come up with something logical that everyone can agree on. Bravo!😁

[@haazmedia]

The only thing worse than big business is big government colluding with big business.

[@Seagaltalk]

so basically big anything is bad

[@haazmedia]

@@Seagaltalk anything too big is bad (and fragile)

[@Seagaltalk]

@@haazmedia Except Seagal

[@oldbluesboy]

Even though the UK has left the EU (albeit partially) we are still subject to this scam :-(

[@theresanolan1157]

Thank you so much Yanis.......for connecting all the dots...I think the energy situation is also suiting America.... do you have an opinion on this ? Brilliant right to the bone analysis.... Slainte.

[@danielleweterings5544]

In the Netherlands some people with a variable contract no fixed price some people even elderly pay 500 to 600 euro 's a month!!Luckely I have a contract with fixed prices for 1 year and solar panels I pay 170 euro a month but only because of my 8 solar panels I get 600 euro back at the end of the year..Older people are freezing in the UK and the Netherlands its more tv e b criminal

[@madzen112]

Send this man to the European parliament & let him make the rules!

[@alexlindstrom9971]

What's so fantastic about the fact that people were convinced of privatization is that all they *really* knew about it was that the operation of the service became cheaper. They didn't initially raise the price, even though they obviously were going to and that this process had been demonstrated repeatedly in the markets before. Not enough people somehow thought that, you know, they're a business that will operate for profit and that the costs would instead go to them, to the consumers, and that the degradation of the service's quality was also ensured. There was this trust of the claims of governments all over the Western world that this would be well managed even though they had not at all learned that trust. It is a Plato-level failure of Democracy in my view.

[@Lucky-wi5oo]

Currently here in South Africa there are blackouts because the government wants to introduce independent power producers that are privately owned and move power generation away from Eskom (state soe) that has provided cheap electricity to South Africans for decades.

[@JoseFerreira-yu8ps]

No it is because the the government who owns Eskom failed to maintain the power stations because of rampant corruption (Which is something all governments are good at) and now in desperation because of the daily papercuts are having to rely on the private sector to install new electrical production.

[@premkumaran8896]

Yanis Varoufakis is a man way beyond our times! I wish we had a straight talker like this in Germany, but my guess is that we / they won't listen ... Thank you anyway for a clear and crisp explanation of what's happening.

[@321ooo123]

You want an economic crisis in Germany? Because that's the only thing Varoufakis can deliver 😁

[@premkumaran8896]

@@321ooo123 we already have an economic crisis in Germany! We have an economics minister who knows nothing about the economy, a foreign minister who openly proclaimed that Germany is at war with Russia and our previous defence minister is now the head of the EU making secret deals with Pfizer!!! I don't see how Yanis can be worse for Germany...

[@monikaseidenberg5403]

THANK YOU!!!💕❤️👍👍👍

[@mikeagate]

A very interesting and thought out video. My one man solution: - Our current energy bill per month is around £400 pm. - I have cancelled my DD - I get a reminder to pay the bill in two month's time. - I pay the full amount using my CC. - My CC company takes the money one month later. - This means that the energy company and the CC company are effectively funding my original energy usage by between 4 and 5 months. - Given the current Uk 🇬🇧 inflation of 10.1%, this means that I am paying 5/12 less for my energy AND I am making the energy company work at getting paid! I like this arrangement. Will the system change? Not on your Nellie!

[@MeiinUK]

Oh my gosh... seriously ? Gosh.... You are paying 4800 ? Are you serious ???..... OMG.

[@danielleweterings5544]

@@MeiinUK In the Netherlands some people with a variable contract no fixed price some people even elderly pay 500 to 600 euro 's a month!!Luckely I have a contract with fixed prices for 1 year and solar panels I pay 170 euro a month but only because of my 8 solar panels I get 600 euro back at the end of the year..Older people are freezing in the UK and the Netherlands its more tv e b criminal

[@spartanmtb2640]

That's just busy work that makes no difference. You are still using the same and paying the same. You just created more work for yourself

[@alanthorpe2022]

Pardon me if my simple brain is missing something here, but it would appear that all you have done is give yourself an initial few months breathing space and then created the same old monthly cycle of payments except it is now a more complex process. It does nothing to address the obscene inequity we are all experiencing by continuing to pay “the market price” - THAT is what needs changing.

[@MeiinUK]

@@alanthorpe2022 : So how do we break this cycle then ? People have worked so hard... and we're super educated.. Educated to the point that we don't see what is happening, or causing the issues any more either. So how do you break out of a cycle ? Kick open the door? Is this why some people keep pushing those boundaries ? To see if it opens up ? Well.. It's kind of stopped now though... You cannot change the market price any more, than you can call yourself a citizen... Always running, and always just... No wonder so much of those stupid provocative songs about running away came from. Absolutely trash. Everything is so connected that it is super surreal any more....

[@dinsel9691]

This was amazing, it was this great look into energy companies in EU that you can't properly hear because of irritating music, then followed by a pro Russia trojan horse

[@dickvanduijn8526]

Thank you for explaining this important subject

[@WorksopGimp]

Sub this guy is obviously worth listening to

[@johnrogers2957]

Yani, beautifully described. Of course you are correct. How can the population rebel against this situation? How can we get this to change? Can it be changed?

[@pyrocolada]

Monopolies bad. Competition good. Break up monopolies and make more effective competition possible. Look at the US. If the government is a monopoly, BREAK IT UP.

[@grahambennett8151]

We need to get more ordinary people directly in and out of government, with guaranteed - but tune-able - access to information, media coverage, votes - and - ultimately - vetos on reckless and doctrinaire policies - like the current assaults Bill Gates seems to be waging on free speech (aka misinformation).

[@grahambennett8151]

Moderate it by getting ordinary people [people that don't want to win popularity contests] into government, with tune-able access to information, publicity, votes and in extremis a veto.

[@jerrybrickley2115]

@john... "How can the population rebel against this situation? How can we get this to change?" Just a crazy suggestion... Don't elect crooks and ass-holes.

[@michalg4824]

Thank you Yanis !

[@franzpiribauer_diem5850]

Excellent as always, every EU citizen should be able to understand it. The journalist would have to write about it every day in all main media of the EU ... but no journlist does ... so practically nobody knows ... but we paid already 1 Trillion USD MORE for energy in 2022 alone .. according to Bloomberg. This market plus even the price hikes produced by the war sanctions on Russia .. How right!

[@hadrianbird2645]

Energy should be in public ownership

[@andrewridewood614]

The background music detracts from Mr Varoufakis.

[@domm1341]

I read somewhere that we don’t tax the wealthy/rich anymore. We borrow from them.

[@danielleweterings5544]

And Again the Netherlands is in that scam too we pay the highest taxes in the world while super rich companies avoid taxes here

[@zalishaabdool7030]

THANKS..SIR..YANIS VAROUFACKIS YOU ARE AMAZING AMAZING INDEED 👏❤️💖💕♥️ WHEN IT COMES TO ECONOMICS WE APPRECIATE YOUR ADVISES ANEN!!

[@rogervacations]

I finally agree with you on something ! , in Quebec we have 100% state owned electricity, results cheapest rates in the world and fastest adoption of ev. My mom in Spain when full solar including boiler, she is net positive and receives money back , bats coming in for 3k next year, she cuts the cord. Total 25k , her home is now the most sellable, before conversion she paid 6k in energy costs per year.

[@danielleweterings5544]

In the Netherlands some people with a variable contract no fixed price some people even elderly pay 500 to 600 euro 's a month!!Luckely I have a contract with fixed prices for 1 year and solar panels I pay 170 euro a month but only because of my 8 solar panels I get 600 euro back at the end of the year..Older people are freezing in the UK and the Netherlands its more tv e b criminal

[@josephdebri8941]

Great, but lose the irritating music.

[@uxinox58]

Many thanks Yanis. Another great video.

[@christiantestorf7224]

Well done, Sir

[@guillermoalcala5047]

I would love if Yanis could talk about the electricity providers market and how all of that works in Texas, which I guess pretty much what he said in this video applies there.

[@darcymunro8930]

Same scams across the world in these Corrupted Capitalism System.

[@Dikkedimi]

EU RU sanctions and price cap are mainly benefiting China and India, making RU operate at a deficit of 24 billion (dollars) a month. Although Putin and his oligarchs enrich themselves regardless of wether the economy is tanking. You do however point out very well how hypocritical EU is in it's subsidization of 'privatized' companies or how I would call it: free money for shareholders (oligarchs).

[@davidwuhrer6704]

The sanctions are bad for the Russian economy, at least for now, but, as with all sanctions, only the people suffer from it, not the politicians. Russia's budget relies on fossil fuel exports, their biggest customer is the USA which keeps importing more and more oil from Russia, and Russia has no exit strategy, it does not invest in renewables. The world's biggest oil exporter, Saudi Arabia, does. Russia will have to change its fossil fuel policy eventually. The Russian economy hasn't been doing great recently anyway. The divide between rich and poor is ever widening. And the government is exacerbating this trend by cutting social welfare. The sanctions give them an excuse for to keep doing it. The sanctions also hurt the EU. The EU should have been investing in renewables more. Instead, now it is importing gas from Norway, Qatar, the USA, and Azerbaijan, at higher cost than Russian gas. (Qatar is part of a deal that allows the USA to maintain a military base there. They'll need it for Iran as part of their China containment policy.) The main beneficiaries of the sanctions are the USA and Norway. Not China and India. The sanctions are also bad for China, because its trade with the EU can no longer rely on the transsibirian railway now.

[@stpnn8598]

Sheer madness, whole idea of privatization! Weber has discussed this extensively and was of the opinion that the government should be responsible for basic necessities, such as energy, medical care, transportation, PTT and other important necessities for the public. But our government is either too lazy to extend monitoring and supervision, or simply accepted the suggestion of an MP, that competition is good for our ‘inhabitants’! We got literally screwed, (pardon expression) and the public is paying much and much more had this remained under supervision of the government. Currently, one political party (SP in NL) is trying to reverse this in one area, let’s wait and see if this will gain momentum. Yes Yanis, our government plays the scam game under our very nose! Irresponsible and unethical.

[@scottneels2628]

Finally some common sense! Well put.

[@BobQuigley]

Keep in mind that where fossil fuels are being burned for energy there's no Oil Fairy refilling the holes! Fracking is the last desperate grab leaving no hydrocarbons behind. Cracked wells depleting very rapidly.

[@GazB85]

Unfortunately there’s plenty of oil left around the world, it’s just that burning it will kill the ecosystem and destroy global civilisation.

[@WolfRevolt]

Yanis is admirable and always on right side

[@Law-of-love]

Enlightening ! 😮

[@DomenicMarando]

Informative and well delivered! Bravo. 🙂

[@GazB85]

For the algorithm.

[@SLPCaires]

+1

[@krystle8534]

Thank you.

[@plamenkostadinov7007]

I admire your bravery to criticise the oligarchs and the corrupt politicians!!!!!! Για σου ρε, Γιαννάκη !!!!!

[@Daerryon]

Great explanation of a very complex problem, DiEM25 gave me hopes again for another EU

[@paulhansen8655]

I would not be surprised if the scammers had managed to hack the background music of this video

[@robertpoen5383]

If they did could they please just remove it. It's distracting as hell.

[@davehendricks4824]

Thanks Yanis. People are waking up and fed up. Things are gonna change whether the .01% like it or not.

[@smijas]

Yanis explained it very clearly. Why do we (Europeans) allow this to continue ?

[@annadustmann3273]

❤ love to hear to your explanation

[@archie1985able]

This video needs to be presented in all European languages. The French don't speak English and won't be bothered to watch it. Especially the poorest who are the most affected (The delivery is very quick). The Spanish are probably the same. Yanis I think this presentation is great but it needs to be presented with the same confidence by Diem25 members in each country. I have French friends who love politics but who have no idea who you are. Who is your French presidential candidate for 2027?

[@limouzine1529]

Great idea. How about you provide French subtitles and a French title for this video and ask the cannel to upload it?

[@archie1985able]

My friends aren't great readers. Their information comes from spoken videos.