Trump urges Americans to accept higher gas prices as he escalates Iran rhetoric

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signalmankenneth

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GARDEN CITY, New York, Aug 14 (Reuters) - President Donald Trump on Friday urged Americans to accept slightly higher ‌gasoline prices as the cost of preventing Iran from obtaining ‌a nuclear weapon and said he would soon declare the Strait of Hormuz a U.S territory.

The comments underscore the growing political risk for Trump as higher fuel prices collide with his campaign promise to lower energy costs, with Democrats already seeking to make the economic fallout from the Iran ‌war an issue heading into ⁠the November midterm elections.

In a speech in Garden City, Trump said Americans who had to "pay a tiny little ⁠bit more for your gasoline" should remember that this was the cost of ensuring "a very evil country" could not have a nuclear weapon.:rolleyes2:

"What we're doing is a great service for the world, not only for ourselves ... ‌and we're really doing a great job," said Trump, adding he would never apologize for attacking Iran.

Around roughly 20% of global oil and LNG shipments usually pass through the Strait of Hormuz and the potential for long-term disruption has pushed up oil prices.

"After we finish defeating ‌Iran ... pretty soon I'll be declaring the Hormuz Strait a territory of the United States," said Trump, escalating his rhetoric over the vital waterway.

It was unclear how ‌seriously Trump intended the remark or whether it represented a new policy position.

The remarks come as the Strait of Hormuz remains a critical pressure point for global energy markets.

Oil prices have risen this ‌week, with Brent crude approaching $90 a barrel, while U.S. gasoline prices have climbed to around $4 a gallon.

https://www.yahoo.com/news/politics/articles/trump-urges-americans-accept-higher-203543611.html

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One big problem is that the financial system is now so corrupt that things are now routinely traded on markets that dont actually exist......it is called the paper market......things that exist are called the physical. Once this fraud can no longer be denied and people find out that their assets are worth nothing the entire post WW2 financial system is over.

Another problem is that the banks and shadow banks are highly leveraged....almost all of the banks in the West will be wiped out.

Another problem is that the banks are carrying a lot of debt of many types that they have yet to admit are loses....the money they have lent that will never be paid back is supposed to be secured by collateral but that collateral is even now before the big crash not worth what they claim it is worth.

This was all going to collapse eventually, but this most idiotic of all of our idiotic wars has brought the date of the collapse forwards.
 
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