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by LurkandComment
32 days ago
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The Strait of Hormuz is a such a historical f-up. 1) It cuts the oil supply 2) It creates the demand and infrastructure for non-US backed Oil 3) It gives Iran a revenue stream and domain over taxing the Strait where none existed before 4) Crypto happens outstide of reach of most sanctions 5) Not knowing your footing: This has now encompassed the placement of underseas cables and global connectivity 5) As time goes one, there are other shoes that will drop 6) Even if this resolves, things like decoupling the USD and Oil now have momemntum. |
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It was Jimmy Carter that established that the Strait of Hormuz would stay open, through the strength of the US military threat.
And now? The US is a paper tiger, making ridiculous threats via barely used social media platforms and then revoking them with just as little formality. The US has already done its worst, except for nukes, and the threats of nuking Iran are clear fakes.
The US used to be a guarantor of safety on the seas. That appears to have been completely destroyed by the weak leadership in the US.