Zero Hedge doing it usual job of turning sensible precautions into a Mad Max situation:
Germany Preparing For Emergency Cash Deliveries, Bank Runs And “Aggressive Discontent” Ahead Of Winter Power Cuts
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The ECB is planning or studying raising rates. Zero Hedge is a fruit cake.
The major central banks are planning to defend against a global bond market shock out of Japan if it materializes. Japan is dumping US treasuries month in and month out. The question is will the sell off spiral. Yellen is on guard it will spiral.
The shortfall of energy in central Europe will be much less than expected. How much of a shortfall though is not clear yet. If Iran can supply them with NG perhaps no shortfall. The US press has kept pretty mum on Iranian supplies of NG for Europe.
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“The decline in investment in Iran’s oil and gas industry over the past decade, and the lack of participation of foreign companies in the development of fields have caused the country a deficit of 200 million cubic meters of gas per day; moreover, power plants and the industrial sector will have to use fuel oil instead of gas…Iran needs at least $20 billion a year to maintain oil and gas production alone; over the past three years, the average annual investment in Iran’s oil and gas production has been $3 billion.”
DB2
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U.S. Accuses Zero Hedge of Spreading Russian Propaganda - Bloomberg if you read it on ZH, the next thing to do is verify it somewhere better.
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“Russian Propaganda” seems to be the whipping boy du jour.
The Captain
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Turkey already hosts multiple natural gas pipelines from Russia, Azerbaijan and Iran as well as oil pipelines from Iraq and Azerbaijan. It has long sought to be more than just a transit state between the energy suppliers and their key buyer Europe. Setting commodities prices in the Turkish market, as Putin proposed, has been seen as ideal.
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I just want to point out the article was written in early 2022, and contains the line
“In recent months, Zero Hedge has published numerous articles that accused the U.S. of fomenting panic about Ukraine, which now faces the possibility of an invasion by more than 130,000 Russian troops massed on several sides of the country. Some of those articles are listed as being written by people affiliated with the Strategic Culture Foundation.”
My point is not just that they publish content from Russia’s analogue to Voice of America as though it were a newswire. My point is that not only do they do that, but - much more importantly - they are also frequently incorrect as a result, and one would make dumb or wrong decisions based on their predictions.
If they published propaganda but were still a quality source of good information, I wouldn’t have said anything.
ps - no disrespect to you intended, Captain (quite the opposite). I respect the skepticism. Any disrespect conveyed is aimed at ZH.
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No offense taken. I have no respect for ZH myself. It’s just that ‘Russian disinformation, election interference, and other assorted misdeeds’ have been in the news for several years to the point that I no longer find it credible. The boy who cried “Wolf!” once too often?
The Captain
Interesting…you did not know they were lies right off the bat? It is obvious when there are liars.
If I see a liar for my side of things I know it in full. I have zero tolerance for being lied to either way. Never mind spreading lies just to suit me.
If you have no respect for them, why do you read them, let alone post links to their articles?
OK - I can understand the occasional read to monitor for improvements to their reliability. But posting links without checking that particular article? Well, that’s just participating in the spread of their propaganda.
–Peter
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