I suppose it could turn very bearish in the next few years?

Something always occurs to me whenever I think about climate change. I think, "What is prosperity?" and the answers are mainly centered on stability and security. Not "stock market" stability, or "national security" but...

Weather stability (floods, droughts, severe storms that lead to crop loss or yield reduction, wildfires, power outages and destruction).

Food and energy security (crop loss or low yields leading to scarcity, food / gas / electric price increases etc)

When I think about my family I think: first priority is to guarantee shelter, food and basic comforts. Everything after that is important of course, but without those three things, it all tastes like ashes. I can't pretend to be happy without stability.

We can pretend that AI and GoogleAds are a great way to measure "prosperity" but in reality, if there's a threat to the basics, we can't pretend to be prosperous. "Value" can be destroyed very quickly when the foundations are gone.

I don't have any more detail than that. I'm a lowly infrastructure engineer. I don't go any deeper than those shower thoughts.

But is Europe looking at the state of the world and pulling it's reserves closer-to?