Yesterday we found out that North Korea had, as everyone was well aware, in fact attacked South Korea by sinking its ship using a submarine torpedo, heating up geopolitics in the peninsula. Today we find out that Iran's Revolutionary Guard has started large-scale war games in the strategic Straits of Hormuz via Reuters. Surely, Israel will note this with passing indifference and go back to buying US consumer retail and REIT stocks in bulk, especially after watching Steve Liesman's latest "breaking" expose on Goldman by Goldman.
The Thursday report says naval, air and ground units from the Guard will participate in the three-day games codenamed "The Great Prophet."
Iran annually holds military maneuvers in the Persian Gulf and the Strait of Hormuz, a waterway through which some 40 percent of the world's oil and energy supplies pass through, to show off its military capabilities.
This year's war games, however, could heighten tension at a time when the West is at a deepening standoff with Iran over its nuclear program. The West suspects the program conceals a nuclear arm production drive, a charge that Iran denies.