• Russia’s defeat of Ukraine is changing European thinking
  • There is growing pressure to remilitarise
  • Nuclear rearmament is even on the table

It is now late December and very cold in Germany. Indeed, Hell has frozen over.

Earlier this month, in what should absolutely be called a “bombshell” interview, former German Finance Minister Joschka Fischer argued that, as a result of the impending Russian defeat of Ukraine on the battlefield, Germany and the EU should set about building up and modernising their defence capabilities, including nuclear weapons.

Yes, the former leader of the Greens, Germany’s largest eco-friendly political party, has become an advocate not only for nuclear power but for nuclear weapons.

“The world has clearly changed,” Fischer explains in his exclusive interview with German newspaper Die Zeit:

Former Foreign Minister Joschka Fischer (Greens) has called on Europe to arm itself. “We have to restore our deterrence capability,” Fischer told Zeit Online. Although he doesn’t like the idea of it “at all,” he says, there is no way around it: “As long as we have a neighbour Russia that follows Putin’s imperial ideology, we cannot refrain from deterring this Russia.”

Asked whether deterrence also included Germany acquiring its own nuclear weapons, he said: “That is indeed the most difficult question. Should the Federal Republic of Germany possess nuclear weapons? No. Europe? Yes. The EU needs its own nuclear deterrent.” After all, the world has changed, and Russian President Vladimir Putin is “also working with nuclear blackmail.

While it may seem surprising that the former Green Party leader has been the one to speak out on this taboo topic, perhaps that is how things sometimes work in politics.

As they used to say, “Only Nixon could go to China.” That is, sometimes, the hardest decisions can only be made by those who would not normally consider something so highly controversial. But if they go ahead and do it, then people assume that it must simply be absolutely necessary: there is no alternative.

This all reminds me of a prediction I made over two years ago that probably not only Germany but even Japan, at some point in the future, would resort to nuclear weapons development to provide for their defence in a post-Pax Americana age. (You can read my previous article on the topic here.)

Perhaps this new, potentially frightening age is already upon us. As defensive investors sometimes recommend: buy guns (defence stocks) and gold. And don’t forget to stock up on some uranium too.

If you’d like more details on how to invest in the revival of nuclear in the race for energy security, Eoin Treacy has uncovered a company he believes is poised to benefit. To find out who, you can claim your 30-day all-access pass here to The Fleet Street Letter. Plus, we’re offering a £200 discount for a year’s access – but be quick, this offer ends at midnight on Sunday 31 December.

Until next time,

John Butler
Investment Director, Fortune & Freedom