by Michael Snyder, The Economic Collapse Blog:
A lot can happen in 48 hours. Just two days ago, things were relatively calm in the Middle East and global financial markets were humming along. But now everything has changed. Just like that, the ceasefire is over, the price of oil is soaring and stock prices are plummeting. It appears that all-out war in the Middle East is the scenario that we are now facing, and that has all sorts of crazy implications. I cannot even begin to describe how serious this is. The possibility of a peace agreement kept both sides from really pushing things over the edge for a long time. Now that there is no longer any hope for peace, events could spiral out of control very quickly.
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The Iranians never should have started attacking commercial vessels in the Strait of Hormuz again.
That was such a foolish thing for them to do.
Everyone knew that this would provoke a very strong response from the United States, and that is precisely what occurred.
After the U.S. military hit more than 80 targets in Iran, the Iranians struck back by targeting U.S. facilities in Bahrain and Kuwait…
US Central Command said they struck over 80 targets as ‘punishment’ for three tankers coming under fire from the regime. Iran responded with strikes targeting Bahrain and Kuwait.
Many were hoping that things would calm down after this exchange, but that obviously did not happen.
In fact, President Trump just publicly declared that the ceasefire with Iran is over…
Trump, asked by reporters about the ceasefire, had said “for me, I think it’s over.”
He then added: “It’s just a waste of time dealing with them.” Along with his comments about Iran, Trump repeated his complaints he had made previously about NATO at the alliance summit for not helping the U.S. in the Iran war.
Trump also accused Tehran of misusing the recent period of funeral ceremonies and mourning for the late Supreme Leader Ali Khameini, who was killed in U.S.-led strikes on February 28.
“They asked for a timeout, they wanted to go to the funeral of Khamenei and I said give it to them, and they start shooting missiles,” Trump said.
But that wasn’t all that Trump said.
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