Here we go again... The recurring pattern (for the 90% of market participants missing it):
1โฃ Iran reiterates their consistent unwavering position that they will not develop a weapon but also refuse to give up their enriched material
2โฃ Trump hears "agreed to no weapon", interprets it to mean they have agreed to give up their nuclear materials, and announces "We have a deal!"
3โฃ Iran again reiterates they will not surrender their 60% enriched uranium, exactly what they've said consistently since February
4โฃ Trump freaks out over "Lying Iranians" backing out of the agreement they never made and which he conflated from "no weapon"
We've been through this several times now. The pattern is not new and should not surprise anyone.
My substack explaining all this from 10+ days ago: https://t.co/DFxebIBdLG
I'm surprised more people aren't talking about this. California will hit tank bottoms for jet and diesel by July 4th.
The Asian import arbitrage is dead, local refining is tapped, and none of this is reversible for 12-18 months.
Could this be the Energy Crisis' Lehman moment?
@SilverCrisis405@GavMcCracken@DoombergT How do commodities, priced in dollars go much lower as the dollar is devalued long term? I do understand Gold replacing Treasuries, likely not even a choice, itโs just happening globally. The bird is very smart and in the past proven to be correct, I should just buy SpaceX IPO.
@adamtaggart Maybe thatโs the US Government seizing all of Iranโs Bitcoin like they have been bragging about. That can make you sell in mass if you are a foreign nation or bought it because you thought it was safe from confiscation.