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Cargo Vessel Comes Under Apparent Iranian Attack Near Oman, Crude Jumps, After IRGC Warned It Controls Hormuz Strait

Iran tightens control over Hormuz: The IRGC says ships must obtain authorization to transit the strait or face enforcement action.
Shipping disruptions emerge after increased flows: A tanker near Oman was reportedly attacked, and several vessels turned back after Iranian warnings, sending oil prices higher.
Tehran seeks billions in transit fees: Iran wants to impose Hormuz passage charges that it says could generate up to $40 billion annually.
Rubio rejects the plan: The U.S. says Gulf states offer “zero support” for Iranian tolls and warns they would undermine freedom of navigation.

https://www.zerohedge.com/geopolitical/rubio-gulf-says-zero-support-hormuz-tolls-irgc-warns-ships-not-complying-will-be-dealt

In my view re PMs outsiders see the prices rising, and wait too long, and they all barge (with paper GLD SLV contracts ETFs etc) buy in on the highs and drive prices even higher.

Then, no outside buyers left, prices start dropping and they start losing money and all start selling all the nonsense paper crap they bought, selling at the market, and take losses and drive prices too low.

Hopefully they learned a lesson and won’t come into our sand box anymore. Naturally, we will be adding to positions on the lows, as the gamblers are selling out on the lows.

Hearing Federal District Court today

The Hormuz Letter
@HormuzLetter
·
10h
BREAKING: Iran’s IRGC Navy declares the US-backed Omani alternative southern route for the Strait of Hormuz, announced yesterday, “unacceptable and completely dangerous,” asserting that only routes announced by Iran are authorized for passage and warning that “violator vessels will be dealt with.” The statement adds that every ship now attempting to pass through the southern route without coordination will be forced to stop and will be targeted, per Tasnim.

This directly rejects the US-backed Omani framework that tried to bypass Iran’s sovereign control in the Strait of Hormuz by routing traffic along the Musandam Peninsula, with Iran asserting that any navigation outside routes it has announced is “strictly prohibited,” and mandatory coordination via Channel 16 will be required for all passage.

“endured an awful lot”

You said a mouthful there brother!

Pray for them.

It looks like those high rises that are still standing are so badly damaged that they will have to be taken down as well.

Yes, horrible for those Venezuelans. Praying for them, they’ve endured an awful lot since Maduro.

Unfortunately, those earthquakes are just birth pains. Nothing like what is coming over the next 7 or so years IMHO.

Thomas van Linge
@ThomasVLinge
·
11h
Venezuela 🇻🇪: footage from one of the main boulevards of La Guaira after the earthquake.

Almost every building collapsed.

https://x.com/ThomasVLinge/status/2069983943261077749

Open Source Intel
@Osint613
·
3h
Full towers down in Venezuela.

Before and after.

Unbelievable devastation.

https://x.com/Osint613/status/2070099714645594397

I would argue that you cannot have a super bull in pm’s because of the constant manipulation. They consistently destroy the momentum needed to sustain a super bull and therefore exhaust the buying prematurely. I agree that it was a strange way to end a super bull, that was the intent. It was an unnatural way for it to end. It has taken me 25 years to figure this out. 🙂

BTW, the same might be said for oil and gas. The difference being that oil stocks actually perform.

Rates down 3 bips this am.

Bitcoin is down 3%, under $60K

The Vigilant Fox 🦊
@VigilantFox
·
Jun 22
Tucker Carlson says he’s officially done supporting the Republican Party after 35 years.

Listen closely to how he ends it. That’s not a man quitting. That’s a man counting.

“There’s no chance I would support the Republican Party. Not going to support the Democratic Party. I don’t know what I’m going to do.”

“How could I, or any American voters, support a political party that’s not loyal to the United States, that puts the interests of a foreign country above those of its own citizens?”

“It’s not possible to vote for people like that. And I’m not going to.”

https://x.com/VigilantFox/status/2069022067366699355/video/1

So effing exciting!

Every super Bull normally ends with a blow off top and the whole world talking about that mkt…..even individual commodity mkts do it , albeit to a lesser degree than the SM. ie Cocoa just recently.

Joe Kennedy made his fortune in the nineteen twenties, by selling when his shoe shine guy was telling him what to buy…..the great commodity mkts of 70’s/80’s, got onto TV…..The PM bull in the 80’s had queues down the street to sell antique Gold and Silver, everyone was talking about the Bull……the ’87 crash in the SM had everyone in the SM, same as the Dot Com Boom…..

I would argue we have not seen any classic mania signs……How many new posters have come to the Tent……but I am biased .

Then there’s still the question if you hold do the shorts use your shares to short the price down?