by Nathan McDonald, Sprott Money:
This is not good for anyone. Tensions are rapidly escalating, the situation in the Straight of Hormuz is spiraling out of control, and we are incredibly close to crossing the Rubicon.
This dangerous game of chicken is no game at all, but a high-stakes confrontation that could upend the apple cart in regards to international trade and commerce—especially when it comes to the price of oil.
Iran is not backing down from the West, and the West is not backing down from Iran. The question is, who will blink first? That is… if anyone does at all.