It would appear that in America and Israel the lunatics are running the asylum. Against all common sense, and one understands senior military advice, President Trump in league with Benjamin Netanyahu decided to wage war against a very large country, Iran. Effectively, Hormuz is closed because there will be no traffic into and out of the Gulf, driving oil prices sharply higher. Inflation expectations will rise, if only on the back of oil prices, stock markets will be badly hit, and precious metals soar (see the note on the gold price at the end of this article).
The financial war
US and Israeli attacks on Iran have undoubtedly been well planned with Mossad assets on the ground. Whatever the outcome, it will become a financial war against the US dollar.
