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Ambrose Evans-Pritchard: Putin plots Europe's deindustrialization
By Ambrose Evans-Pritchard
The Telegraph, London
Thursday, November 24, 2022
Vladimir Putin lost his energy war this year. He may still win it next year by exhausting Europe’s will to resist through another gas and power crunch.
The secondary target of his bombing blitz on Ukraine’s energy infrastructure is the EU itself. The damage deprives Europe of crucial electricity imports from Ukrainian plants. Power will have to flow in the opposite direction to prevent a humanitarian disaster in Ukrainian cities.
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The switch in flows is large enough to change a fragile energy balance. It compounds a fresh gas squeeze already in the works. The effect is to shave Europe’s margin of energy security to wafer-thin levels and to ratchet up the pain through 2023, pushing Europe’s industries closer to the wall.
Putin has already burned so many geopolitical bridges, and suffered such battlefield reverses, that he is almost forced by events to play his final energy cards. Cost fatigue and the wave of appeasement sentiment across the EU core renders the temptation almost irresistible.
“His goal is to set off an uprising of European consumers against their own governments. He wants a Yellow Vest 2.0, this time on steroids,” said Helima Croft, an ex-energy analyst at the Central Intelligence Agency now at RBC Capital.
It is Putin's bet that he can break Europe before it breaks Russia. ...
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Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
