CNBC has reported in the last few minutes:
Iranian negotiators will stop exchanging messages with the U.S. through intermediaries, and Tehran will move to fully close the Strait of Hormuz, in retaliation for ongoing ceasefire violations, Iran's state-affiliated news outlet Tasnim said Monday.
The report, in a translated post on the social media site Telegram, homed in on Israel's military operations in Lebanon against the Iran-backed militia Hezbollah.
It added:
“No dialogue will take place” until Israel fully withdraws from occupied areas in Lebanon and stops all attacks in both Lebanon and Gaza, per Tasnim.
“Also, the resistance front and Iran have resolved to completely block the Strait of Hormuz and activate other fronts including the Bab al-Mandeb Strait, in order to punish the Zionists and their supporters,” the report said.
I hate to say it, but that recession is on its way then. This is going to get very ugly. And Iran, for all its many faults, is pointing the finger of blame in the right direction.
And if you are not aware where the Bab al-Mandeb Strait is, it closes the Red Sea and all routes through Suez, and the threat is very real, and easy to put in to effect from Yemen.
The meltdown from this could be horrible.
Please don't say I didn't give warning: I did.
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I have to agree with you, Richard. People MUST learn to properly distinguish between capital & income in an inflationary environment, methinks.
Thank you
“The death toll from the Israeli war on Lebanon has risen to 3,412 people, with 10,269 others injured since March 2, Lebanon’s Ministry of Public Health announced on May 31.”
One wonders what question the death of 3412 people and the injury of 10,000 answers.
It is a bit odd when the Iranian government (not a beacon lof light wrt human rights) is sticking up for Lebanon (& the rights of its citizens) against Israel and its “the most ethical & moral” army on the planet (or so it is said).
I am confident that the Israeli government’s information service will show, conclusively, that all 3,412 and 10,269 were ….. trrirsts & thus deserved it.
Likewise all the houses & buildings in Lebanon that have been destroyed, were doubtless all, without exception sheltering … trrirsts…
Be interesting to see where the oil price goes …
Netanyahu is now going to attack Beirut. He disregards what Trump wants.
Al Jazeera has reported Iran is saying inhabitants of northern Israel will need to evacuate if Israel strikes Beirut. France has banned Israel from a defence exhibition -except air defence systems.
This might be the moment Trump acts to rein Netanyahu in. There is a growing backlash in the US.
It is certainly time Britain and Europe stopped being passive by-standers.
The Trump Great Depression is coming, together with the mega crash of the tech bros share prices.
Of course no steer and Rachel will be unprepared and only offer yet more severe austerity.
Expect demands to save the very at risk banks due to their crazy lending practices.
How can this be happening – apparently Gazans still dying of starvation and lack of health services – in plain sight. And still being bombed.<p>
And here we are – best friends and arms suppliers to the murderers in Lebanon.<p>
Physically sick
Agreed
Presumably at some point, the ability for energy gambling to trade oil at a profit off the back of price fluctuations, corruptly leaked from Trump’s deranged chaos of a White House (I won’t flatter him by calling it a “government”), begins to fall flat when “delivery” becomes a problem, due to the destruction of refinery infrastructure in the Gulf, on top of reduced volume of transit, (and erratic war-ravaged schedules) from refinery to customers.
Putting it bluntly, you can’t trade EMPTY and/or blockaded Brent crude barrels a month ahead, no matter what the price you try and charge.
Once you stop looking at the Stock Exchange pundits and start reading articles produced about “commodity supply chain volatility,” then Richard is not an outlier. The “positive” articles are all 2 years old or more, and are laughably optimistic about geopolitical conditions in mid to late 2026.
I too conclude, the current crop of Brent crude gamblers are mad.
A couple of days ago, Ben-Gvir openly stated that “Israel will not allow the USA to make a deal with Iran”. Infuriating that the MSM and our (what passes for a) government are wilfully blind to this, and will still be when the recession that will cause misery and hardship hits.
Meanwhile we still hear or see US bombers overhead here, not far from Fairford. Starmer is deeply complicit in Israel and America’s crimes against humanity.
And so, this new Zionist period of ‘Nekama’ (nqama/revenge ) follows on then from the 1st period in the 1970’s where our support for Israel led to Muslim oil producing countries putting up the cost of the cheap oil that the U.S. negotiated for the West by Roosevelt during WW2. And with that, economic crisis and the Neo-liberals got their chance to screw up western economies and their New Deal polices. Fact.
It amazes me how the Zionists have turned Western/Christian racism on itself resulting in destructive forms of economics that blight our lives? Getting all those poor Westerners to pay for Zionism. Mind you, racism, religious fundamentalism etc., are not the most intelligent mindsets are they? Ready made to be exploited by devious Zionists.
‘People of the Book’? Hmmm……………looks more like ‘People of the F**ked’ to me. The suffering of dark skinned people in the Middle East prosecuted by a society of light skinned European based emigres who were persecuted in their millions under a planned extermination not so long ago by people of a another denomination with ‘God is with us’ cut into the belts of their trousers. And the lukewarm response of those who could have helped. ‘What goes ’round comes ’round’? ‘Payback’s a bitch’. I mean how can one describe it? I no longer have the words. It’s all just repulsive. But take note of this if you will. We are dealing with living history – with memory. The present goes in hand with the past here. This excuses nothing. It just ‘is’.
Recent research has revealed that 51 countries have helped to arm Israel. The so called civilized world has sat back and watched the Palestinian people being killed on a daily basis and has made no real effort to stop it. We have watched as ceasefires are ignored along with directions from the international courts to hold Israeli government officials to account. We have watched doctors, first responders, ambulances, children, families everyone come under fire in complete violation of all laws. I think we all deserve some price shocks as a punishment, maybe we need to suffer a little too, maybe not run the Porsche quite so often. Our complicity sickens me, I am with Iran on this.. nothing they could possibly do could out-do Israel’s awfulness.( The Iran under the US supported Shah was just as violent as the current government is supposed to be, the Savak or secret police suppressed Iranian citizens just as/more than the current government but because the US was their friend we all fell into line and they were our friends too.) Enough with this hypocrisy. Israel has to be reined in, if Iran is supposed to give up its (supposed) nuclear weapons then Israel must too. Allowing Israel to be the only nuclear armed country in the ME is a recipe for violence and destabilization seeing that they have absolutely zero respect for human life or international law. I support justice and maybe only a financial crisis will wake us up from our moral torpor.
I oppose all nuclear weapons.
I cannot agree with you
Terrible example of BBC pro-Israel bias here. https://www.bbc.co.uk/news/articles/c202rxp1z15o The quote I have complained about: “Iran has warned that Israeli attacks against Hezbollah in Lebanon could threaten Tehran’s ceasefire with the US, after Israel’s prime minister ordered strikes on the southern suburbs of Beirut.” How dare the BBC characterise Israel’s illegal attacks on Lebanon and its killing of Lebanese civilians as “Israel’s attacks against Hezbollah”. If anyone has time, please complain to the BBC if you think this is inappropriate.
Peter Thiel’s total surveillance system can allegedly predict the near future. He has recenty moved his family to Argentina. America has been seen by him to be too dangerous a landscape. Netanyahu’s desire, unchecked by the Western Alliance, strongly supported by the US and the UK, to pursue militant Greater Israel colonial expansion into Lebanon and beyond, is globally destabilising. It would seem it is only a matter of time before the allied resistance forces to Zionist violence in the Middle East might expand their attacks outside of their immediate environs. Perhaps this unfolding blowback conflict expansion was predicted by Thiel’s Palantir and Argentina was deemed by him to be a safer haven.
Safer for him. A properly democratic country with a functioning judicial system would arrest and try him, and all his kind, for crimes against humanity.
Sanctions may not solve everything but in the least they can be a strong symbol.
Implement them now, it’s obviously not that hard to do.
It didn’t even took a week for the first sanctions against Russia in February 2022!