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We are on the Verge of Economic Catastrophe

I heard a tanker made it through the Strait of Hormuz this morning unimpeded and not attacked.
 
Looks like every trading vessel is going to be "Chinese" soon. Or until it stops working.
article said:
Iran has effectively closed the vital waterway since US-Israeli strikes on it began on February 28, and at least 10 vessels have been attacked since.

But by claiming to have an "all-Chinese crew" aboard, or changing their destination to "Chinese owner", vessels are linking themselves to Iran's most important economic partner, Beijing.

"These appear to be precautionary signals used by ships attempting to reduce the risk of being targeted," according to Ana Subasic, trade risk analyst at Kpler, which owns Marine Traffic.

That "does not always signal direct Chinese ownership," she told AFP.

On Monday, Panama-flagged cargo ship Guan Yuan Fu Xing was the latest to make it safely through the Strait of Hormuz, two days after changing its destination to "CHINA OWNER" via its AIS transponder.
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My boat is turning Chinese
Said my boat is turning Chinese
Hope the Iranians think so

Admitted, not a perfect transition.
 
The Strait of Hormuz being in the news again prompts me to pose a question I have often pondered: why not build a big pipeline to Oman and let tankers bypass the Gulf entirely?
 
jonatha said:
The Strait of Hormuz being in the news again prompts me to pose a question I have often pondered: why not build a big pipeline to Oman and let tankers bypass the Gulf entirely?
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Has to be a damn big pipeline. And likely won't be built for decades. Won't help us in the meantime.
 
Been terribly busy at work and haven’t checked the economic news much. Opened the market news today and am stunned. Markets are down now at least 8%. Everyone is getting real fucking pessimistic. This moron has managed to ruin the country in a little over a year.
 
SLD said:
Been terribly busy at work and haven’t checked the economic news much. Opened the market news today and am stunned. Markets are down now at least 8%. Everyone is getting real fucking pessimistic. This moron has managed to ruin the country in a little over a year.
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There are questions at the moment of Iran and how they are going to extract as much as they can from the Strait of Hormuz after this is all over... assuming it hasn't ended in nuclear war. Trump may have taken the world past a point of no return, providing Iran more fucking power than it had before he took office.
 
Elixir said:
Jimmy Higgins said:
Trump may have taken the world past a point of no return, providing Iran more fucking power than it had before he took office.
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Surprise surprise.
Trump fucks EVERYTHING up.
He’s a loser, and is “leading” America to unforetold losership.
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I think those three words sum up Trump. "He's a loser." With inventive accounting, lawyer work, questionable public trading maneuvers, and probably some money laundering, he has overcome being a loser. IE, other people were able to put together plans to bail his ass out of his failures.

But in the end, the guy is nothing but a loser.
 
From the Australian Broadcasting Corporation:

The price of gold has crashed in Asian trade.

The precious metal was trading down 2.6% to $US4,370 an ounce at 2pm AEDT.

The yellow metal hit a record high of $5,608 in January.

It means gold is now down 22% from its record high — understood by most market participants to be a "crash".

Meanwhile, silver is trading down 4% to $US65.19.

Its record was also achieved in January at $121.54 per troy ounce.

This puts the shiny metals down 46% from a record high.
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bilby said:
From the Australian Broadcasting Corporation:

The price of gold has crashed in Asian trade.

The precious metal was trading down 2.6% to $US4,370 an ounce at 2pm AEDT.

The yellow metal hit a record high of $5,608 in January.

It means gold is now down 22% from its record high — understood by most market participants to be a "crash".

Meanwhile, silver is trading down 4% to $US65.19.

Its record was also achieved in January at $121.54 per troy ounce.

This puts the shiny metals down 46% from a record high.
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Yeah but BTC.....

Oh wait.
 
SLD said:
jonatha said:
The Strait of Hormuz being in the news again prompts me to pose a question I have often pondered: why not build a big pipeline to Oman and let tankers bypass the Gulf entirely?
Click to expand...
Has to be a damn big pipeline. And likely won't be built for decades. Won't help us in the meantime.
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It would be the #1 target of Iranian drones & missiles -- a more vulnerable chokepoint than a strait. Or, if Iran's dormant, whatever other aggrieved power rises up over there. I'm sure there are a lot of groups that hate us & the West.
 
A VLCC may not be able to move away from danger very fast, but a pipeline can't move away at all.

The closure of the Omani oil terminals on the Arabian Sea side of Hormuz shows that any effort to bypass the Strait with a short-ish pipeline is going to achieve very little.
 
bilby said:
A VLCC may not be able to move away from danger very fast, but a pipeline can't move away at all.
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Nordstream sends its best wishes.
bilby said:
The closure of the Omani oil terminals on the Arabian Sea side of Hormuz shows that any effort to bypass the Strait with a short-ish pipeline is going to achieve very little.
Click to expand...
 
barbos said:
Shut up You! Trump family and friends are making a killing trading shit.
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Trump is losing his ass in investments. His Truth Social / Fusion company (yeah... you can't make that up) is down $500 million with his Bitcoin investment near the peak of Bitcoin's value.

Trump is making money by people just giving him billions, like the DJT Truth Social shell company that came with $1 billion in free money and lots and lots of liquidated shares that should be worth less than tissue paper.

However, others are likely more savvy than Trump, it'd be hard not to be, and making a mint.
 
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