Featured Comment

Long time reader "Shaken", via email;

As our journalists continue to cast themselves under a self-made asteroid, hundreds of thousands of small investors find themselves on a ledge, wondering which version of The Truth is the one that will inform their retirement or educational fund management decisions. Reporting in the mainstream financial press of late has been at best like a ride on the vomit comet: Greece soon to default; ECB funds a bailout; oops not quite - actually China is our white knight; not so fast - the Greeks cannot agree to terms... On and on it goes.
Can anyone be surprised then when the Al Gore's invention glows red hot with rumor and speculation as a worried public experiences daily cognitive disconnects while trying to reconcile what their lying eyes see and or read from the professional financial journalists?
Is it any wonder, then, that in such a climate of fear, deliberate disinformation, misdirection, obfuscation and even plain lying that blog posts such as this one become viral within hours of publication?
When one reads through this blog post, pieces seem to fall into place, and otherwise paradoxical events and statements begin to form into a cohesive and logical pattern. Believability ensues. Caring relationships ensure rapid dissemination.
Millions of people around the globe stand ready to do what our professional journalists have forgotten to do, or have otherwise been convinced not to do: be one of us looking out for each other.
Perhaps the blog post to which this note refers is merely the speculation if an intelligent and well meaning individual that has been swept up in the milieu of anxiety which grips us all ever tighter each day, but that us beside the point. The point is, this post went viral as though cycled in a Swiss particle accelerator, evidencing the appetite of the public for reliable information, an appetite no longer satisfied by journalists.
The veracity of the rumor will soon be established or dismissed. Reading it through, one cannot but help sense that there may just be a tinge of truth to the rumor, especially as it has a large degree of congruence with the latest musings at established and credible blogs such as Mish's and Zerohedge.
If this rumor turns out to be true, and the MSM has once more been scooped by the humble blogosphere, it will be perhaps the nearest of the near misses - the biggest story in the lives of many today, unreported, either by malfeasance, or incompetence. Or both.

Related - Among European nations, debt-ridden Greece is most exposed to Iranian oil disruption.