War is continuing to unleash massive inflation and there is no end in sight.
October 21 (King World News) – Gerald Celente: The price of Brent crude, the international benchmark, reached $110 a barrel on Friday after Ukrainian President Volodymyr Zelensky vowed to keep striking Russian energy targets, and reports that Ansar Allah (the Houthis) carried out successful strikes on Saudi Arabia’s infrastructure.
CNBC noted that this is the first time since May that Brent reached the $110 mark and ended up closing the day at just under its session high.
On 8 March, Donald Trump declared the war on Iran to be “already won” and that a bump in “short-term oil prices” was “a very small price to pay” for dashing the threat of Iran having a nuclear weapon. ..
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It is worth noting that even weeks before the war started, Gerald Celente said that oil will skyrocket if the U.S. decides to bomb Iran. Celente followed up his forecast by, again, stating that oil would surge above $100 a barrel. (It is worth noting that Brent was selling in the low $70 range before the launch of the illegal war of aggression against Iran on 28 February).
The Trump administration has done everything it could to try to bullshit the public about success in the Strait of Hormuz.
Abbas Araghchi, Iran’s top diplomat, said Sunday that the Strait could be reopened within seven days if the Trump administration agrees to the terms mentioned in the memorandum of understanding (MOU) that was signed on 17 June in Versailles, France.
He also, however, took issue with Trump, who said the U.S. may have to “finish the job” alone in Iran.
“Last time you wanted to ‘finish the job,’ Iran emerged even stronger,” the diplomat posted. “Want to try your luck again? Be our guest. But be careful; we have unfinished jobs too. Netanyahu is driving America into another war to stay out of jail, whatever the consequences for Israel – let alone POTUS.”
Trump has faced criticism after announcing a deal with Russia for its diesel, and said his critics are foolish because “Russia is doing very little, if anything, to help the Islamic Republic of Iran, compared to what they could be doing, and I want to keep it that way, and will, unless stupid people get in the way.”
Uneasy Times
The Houthis carried out a bold attack on Saudi Arabia’s main airport in Riyadh earlier this month that killed 12 people and injured more than 300, and the Iranians struck at least nine oil tankers and cargo ships last week, according to CNBC.
The report, citing Kpler, said there had been 9.4 million barrels of oil moved out of the strait last week, which is roughly 70 percent below the average before the war.
TREND FORECAST:
The Trends Journal has long said that the Iran War will not end and will, instead, keep escalating because Israel will not allow the U.S. to end the war because it wants to steal land in Lebanon, Gaza, the West Bank, and Syria. And, the United States will not give back the billions of dollars they have stolen from Iran. As Wikipedia notes:
“Iranian frozen assets in international accounts, which were frozen following the imposition of sanctions that began in 1979, are calculated to be worth between $100 billion and $120 billion in the late 2010s. Almost $2 billion of Iran’s assets are frozen in the United States. According to the Congressional Research Service, in addition to the money locked up in foreign bank accounts, Iran’s frozen assets include real estate and other property. The estimated value of Iran’s real estate in the U.S. and their accumulated rent is $50 million. Besides the assets frozen in the U.S., some parts of Iran’s assets are frozen around the world by the United Nations.
We Are Near An Upside Explosion In The Price Of Silver
To listen to Nomi Prins discuss what will create an upside explosion in the price of silver and much more CLICK HERE OR ON THE IMAGE BELOW.
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