• Sprott Money
    04/29/2016 - 05:58
    There is unfortunately no basis for renewed optimism that this current litigation will have any meaningful impact on precious metals manipulation – with respect to either silver or gold.

Brent At $126 As Israel Security Cabinet Votes 8 To 6 To Attack Iran

Tyler Durden's picture




 

Looking at the tranquil sea that is the S&P one may be forgiven to ignore the rapid intraday surge in Brent which was up over $3 in a few hours, approaching $126 once again. But why? After all the FOMC minutes were oh so very slightly hawkish, and not to mention that the Fed's scribe Hilsenrath told everyone at best the Fed would proceed with sterilized QE which would leave risk prices untouched. Maybe it has something to do with this. According to Israel's NRG, in a just completed cabinet vote, for the first time Netanyahu has gotten a majority (8 over 6) supporting an Iran attack. NRG also notes that at this point Israel has decided to not wait until the US elections in November before proceeding with sending crude to the stratosphere. From NRG (google translated): "Israeli political sources believe that Prime Minister Benjamin Netanyahu a majority Cabinet support Israeli military action against Iran without American approval....He announced that he would not hesitate to perform the operation without the approval of President Obama mentioned the precedent of the decision to attack the Iraqi reactor, Prime Minister Menachem Begin, and with the comments heard yesterday some cabinet ministers say privately that "It sounds like a speech preparation for attack." Political - Security Cabinet 14 ministers. According to estimates, at this stage tend to support Netanyahu and
Barak's approach eight ministers, and six against it
(including the traditional opponents octet: Moshe Ya'alon, Dan Meridor, Benny Begin and Eli Yishai).
" So... $4.00 gas is just around the corner. As is, probably, $5.00 gas. And $6.00 gas.

And from Richard Silverstein's blog:

Just when you thought it was safe to come out from your air raid shelter after Bibi returned from his U.S. foray to stoke up war fever, Maariv raises the temperature to a boiling point.  Ben Caspit reports (Hebrew) that the cabinet now has, for the first time, a majority (eight votes for, six votes against) favoring the measure.  This means that theoretically Bibi can begin an attack at any time.  Of course, it could mean something different: it could mean the cabinet has approved a strike at any point in future with Bibi determining the timing.  So it doesn’t necessarily mean the F-16s will fly tonight or tomorrow.  But it could:

 

Cabinet Majority Supports Iran Attack

 

The prime minister yesterday delivered one of the most combative and explicit speeches in the history of the Iran affair.  Several cabinet ministers said in private conversations that it sounded like a “speech preparing for war.”

 

Political sources judge that the prime minister has a majority in the cabinet which favors a military strike against Iran, even without American approval.  Yesterday, Netanyahu said he wouldn’t hesitate to attack Iran even without the approval of Pres. Obama…A senior official said Bibi believed it would be best not to wait for the November presidential elections because he didn’t trust the president to deal with the problem after the election.

So it appears that the dies is cast. Our ETA for the earliest possible offensive? Not before CVN-65 Enterprise reaches CVN 70 and CVN 74, sometime over the next 3-5 days. Of course, this is not a prediction of war. Just a logistical notice.

h/t Gregor Peter

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Fri, 03/16/2012 - 16:31 | 2263279 Tom Servo
Tom Servo's picture

New moon on 3/22.  Best time for night sorties.

Fri, 03/16/2012 - 17:04 | 2263374 Rooster Cogburn
Rooster Cogburn's picture

Wait a minute, they actually vote before they go to war?  What kind of a backwards ass country is this?

 

Fri, 03/16/2012 - 19:54 | 2263886 Moe Howard
Moe Howard's picture

The voters who voted for it are not elected, they are appointed.

Fri, 03/16/2012 - 17:44 | 2263534 Tarheel
Tarheel's picture

TGIF! hears to hoping our good friends blow iran to kingdom come

Fri, 03/16/2012 - 20:57 | 2264029 CrockettAlmanac.com
CrockettAlmanac.com's picture

Why have your "good friends" killed more Westerners than Iran ever has?

Sat, 03/17/2012 - 03:15 | 2264493 Bleeding Fart
Bleeding Fart's picture

Happy Friday!!

Well, not for the million plus Persians that live in the United States, most of them in California. What a terrible thing to have the country where you were born, or where you emigrated to, or where you naturalised, to wage war against your ancestral homeland.

FSM save us all.

(Oh, and Hello World!)

Sat, 03/17/2012 - 10:27 | 2264754 It was not me
It was not me's picture

So we are going to kill hundreds of thousands of innocent people again? Well, that sure is very humane.

Fri, 03/16/2012 - 15:47 | 2263069 GeneMarchbanks
GeneMarchbanks's picture

Good-bye sanity... I miss you... already.

Fri, 03/16/2012 - 15:49 | 2263081 Missiondweller
Missiondweller's picture

Already over $4 per gallon in San Francisco. Next stop $5.

Fri, 03/16/2012 - 15:51 | 2263093 tniutnia
tniutnia's picture

same in New York

Fri, 03/16/2012 - 15:55 | 2263125 CompassionateFascist
CompassionateFascist's picture

Closing on $5/gal. in SB right now. Probably because Oprah lives here.

Fri, 03/16/2012 - 15:57 | 2263135 surf0766
surf0766's picture

$3.73 in South Eastern PA. 3 refineries closing soon. Economy slowing quick.

Fri, 03/16/2012 - 16:10 | 2263197 xtop23
xtop23's picture

It's the supply and demand fundamentals that are driving up crude...... really !!

The black gates of Mordor are opening God help us all.

Fri, 03/16/2012 - 16:31 | 2263281 knukles
knukles's picture

Really!
As in no fucking supply.

 

As in wonder why it is whenever oil producing countries are invaded by the West that oil production falls....
Keep on thinking about it....

The that/why....

Fri, 03/16/2012 - 16:42 | 2263313 xtop23
xtop23's picture

I just find it interesting when they are actively closing refineries, enacting legislation that makes domestic oil production difficult to say the least, and grenading pipelines ( Canada ).

I suppose an arguement can be made of our large amounts of domestically produced oil being exported due to the ability to post increased profit but,

It's predominately inflation.

Fri, 03/16/2012 - 17:45 | 2263522 CrashisOptimistic
CrashisOptimistic's picture

 

Maybe.  Maybe, just maybe, geology is more powerful than politics.  Petroleum geology has been around what, 100 million years?  Modern politics, . . . 20.

Maybe it doesn't fucking matter what laws are passed or regulations imposed on who drills where.  In the US we've had a little uptick in recent oil production.  150K bpd out of 5.6 million.  You do realize these morons are celebrating that?  It's a lousy 2.5%, for 3 years after about 35 of relentless decline of 50%.  That's right, we were producing about 10 million bpd in the 1970s.  

The bad news?  The decline will resume.  It won't be because of politics.  It will be because of physics and geology.

The game changer hype is being fed to candidate buyers of empty leases.  It's bullshit.  There is no game change.  There are 1 billion more people than there were 12 years ago and every fucking one of them consumes oil, which was priced $20/barrel then.  That's all you really need to understand.

Fri, 03/16/2012 - 17:50 | 2263551 xtop23
xtop23's picture

Good post. I don't disagree with the hypothesis of peak oil don't get me wrong.

What I meant by my post was that the current increases in oil are more due to inflation. Although war/fear of war and speculation are increasing rapidly as catalysts.

If we have pronounced decreases in domestic usage and the price continues to increase is it demand outstripping production thereby causing increases in the price of crude or is it something else?

 

Fri, 03/16/2012 - 18:03 | 2263590 CrashisOptimistic
CrashisOptimistic's picture

Domestic usage declines are not global.  

China is buying 20+ million cars this year.  India more.

There is no fix for this.  The pie can't grow as fast as the forks digging out chunks of crust and apple.  In fact, some think the pie is getting smaller even if the fork total was constant and not increasing in number.

We've been eating big chunks of pie for over 100 years.  Just how long did people think they could eat pie as the number of mouths being shoveled into increased?

 

Fri, 03/16/2012 - 20:59 | 2264034 CrockettAlmanac.com
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I love pie.

Sat, 03/17/2012 - 02:41 | 2264476 CrashisOptimistic
CrashisOptimistic's picture

I upticked you, Crockettguy.  Me, too.

Sat, 03/17/2012 - 14:07 | 2265111 Amagnonx
Amagnonx's picture

Yep - couldn't agree more on the peak oil observation - though oil price is probably the most manipulated of all economic variables, so I wouldn't be drawing too many conclusions from price volitility.

 

But if you want gasoline, you could go fill up at Titan, a moon of Saturn - where many years ago great forests grew and finally decayed into hydrocarbon lakes and oceans .. or maybe the fossil fuel idea is just batshit crazy.

 

Regardless if oil is of fossil origin or adbiotic (could you guess where I come down on this one?), I'd agree with the premise that we are consuming it faster than we can find new sources and bring them online.  Its not just oil of course, head grades of anything we mine is falling - if this isnt forcing some contraction, it will.  The idea of exponential economic growth in a finite world hits its limit at some point, and many say peak oil was 2005-07.

Fri, 03/16/2012 - 16:53 | 2263346 AccreditedEYE
AccreditedEYE's picture

The Black Gate of Mordor IS opening.. God help you all!

All fixed.

Fri, 03/16/2012 - 18:12 | 2263620 PY-129-20
PY-129-20's picture

Well - I am staying at Tom Bombadil's house. Good luck!

Fri, 03/16/2012 - 21:02 | 2264045 CrockettAlmanac.com
CrockettAlmanac.com's picture

I'm hangin' with Treebeard. Love that Ent-draught. Tastes great and it's less filling.

Fri, 03/16/2012 - 17:22 | 2263424 Contura
Contura's picture

11-12 dollars in Norway per gallon. Cheap. (This is not a joke)

Fri, 03/16/2012 - 19:55 | 2263889 Moe Howard
Moe Howard's picture

That "full retard" socialism really is a bargin, isn't it?

Fri, 03/16/2012 - 15:49 | 2263082 Conman
Conman's picture

He announced that he would not hesitate to perform the operation without the approval of President Obama mentioned the precedent of the decision to attack the Iraqi reactor,

 

Did you mean Iranian?

Fri, 03/16/2012 - 16:03 | 2263168 Hansel
Hansel's picture

If Obama didn't support an attack on Iran, the whole U.S. Navy wouldn't be surrounding Iran.

Fri, 03/16/2012 - 16:08 | 2263189 surf0766
surf0766's picture

I think that is for Syria not Iran.

Fri, 03/16/2012 - 16:32 | 2263287 knukles
knukles's picture

Ever find your neighbor's newspaper in your front yard?

Fri, 03/16/2012 - 17:54 | 2263572 Dermasolarapate...
Dermasolarapaterraphatrima's picture

No, but I found a horses head in my bed once.

Fri, 03/16/2012 - 19:10 | 2263796 akak
akak's picture

That's funny, I slept with a horse's ass in my bed for 14 years.

Fri, 03/16/2012 - 16:58 | 2263360 Gohn Galt
Gohn Galt's picture

They are just observing.

Fri, 03/16/2012 - 18:22 | 2263623 RobertC
RobertC's picture

Agree.  "When the CNO tells Senators in a public hearing that the Navy is deploying four little 1300 ton minesweepers to the other side of the world, in any context that can be described as the US Navy preparing for war with Iran. Deploying minesweepers to the Persian Gulf isn't like a typical 6 month deployment of a Navy warship, because some big commercial vessel will almost certainly be chartered to carry the ships across the ocean. This is a big deal.

This is also what a naval buildup for war against Iran looks like."   And here is the charter. Note the timeline. Basically we seem to be in a hurry to get everything in place by summertime.

Fri, 03/16/2012 - 18:33 | 2263689 CompassionateFascist
CompassionateFascist's picture

Bad link. But, yes, the minesweeper deployment is a critical indicator...more so than CBGs coming and going. Balloon goes up c. July-August, unless one of the counterparties gets antsy before then.

Fri, 03/16/2012 - 16:06 | 2263180 John Wilmot
John Wilmot's picture

No he meant the Iraqi reactor which the Israelis attacked unilaterally in 1981 in Operation Opera/Babylon, as a precedent for a unilateral strike on Iran's imaginary nuclear program.

Fri, 03/16/2012 - 16:17 | 2263227 penexpers
penexpers's picture

http://en.wikipedia.org/wiki/Operation_Opera

Operation Opera (Hebrew: ?????‎)[1], also known as Operation Babylon[2] was a surprise Israeli air strike carried out on June 7, 1981, that destroyed a nuclear reactor under construction 17 kilometers (10.5 miles) southeast of Baghdad, Iraq.[3][4][5]

And there, sir, is your answer.

Fri, 03/16/2012 - 16:23 | 2263247 john39
john39's picture

no one should believe that this is really about nuclear weapons, it's not.  its about power and destroying any country that could be perceived in any way as a threat to zionism...  don't worry americans, you are on that hit list too... as soon as every last drop of blood has been squeezed out of you.

Fri, 03/16/2012 - 16:51 | 2263342 Bam_Man
Bam_Man's picture

No, this is about destroying oil-producing regimes who do not want to "play ball" with Uncle Sam and his petro-dollar. The fact that Iran is anti-Israel means they have two strikes against them.

Fri, 03/16/2012 - 22:36 | 2264254 benb
benb's picture

Not to mention that they don't have a Rothschild central bank. And an agenda of artificial scarcity and neo -feudalism are all part of the equation. Whatever the stated reason; it’s all just a fucking cover story. The Israeli government is a Globalist tool as is the overthrown U.S. Government. I saw one pole stating Israelis were 80% against. It doesn’t matter. We’re on a runaway train.

Fri, 03/16/2012 - 16:55 | 2263350 bank guy in Brussels
bank guy in Brussels's picture

Never trust anything from the CIA's Wiki-media, ESPECIALLY regarding Israel.

Jimmy 'Jimbo' Wales, the alleged 'Wikipedia founder' (actually it was the CIA) is a Jewish extremist arch-Zionist involved in murder operations, and he is a prime agent of the both the CIA and Israeli's Mossad.

In the 1990s Jimmy was a porno meister, and his willingness to harm children and help kill innocent people, is why the US picked him to be the 'front' for Wikipedia.

Jimmy Wales is SO important to Israel, that he was recently among a small group celebrating at a small birthday party with the elderly President of Israel ... the Israelis honoured and thanked Jimmy Wales, for his allowing Mossad to plant so many lies on Wikipedia to help slander, destroy and kill Muslims ... and also to help destroy and slander dissident and non-Zionist Jews who oppose the crimes of Israel.

The whole game of Wikipedia is that 90 % of it is fake-neutral, to get used to people trusting it on topics about which the CIA doesn't give a sh*t, and meanwhile thousands of US and Israeli intelligence agents are controllers planting false material. The US propaganda budget is well over USD 50 billion ... that pays for a lot of salaries of people 'supervising' Wikipedia.

The whole reason Wikipedia contributors are 'anonymous' is to hide the identities of Mossad and CIA agents and also US bank and corporate criminals supported by the US government.

The CIA's Google is what made the CIA's Wikipedia a success, pumping it up for years. Google eliminates many if not most duplicates of websites from search results ... except for the CIA's Wikipedia. They want everyone in the world to look at the CIA's Wikipedia first for any topic, and that's why you see it flooding the search results, and repeated by places like Answers.com, a direct Mossad site run out of Jerusalem.

Also, Wikipedia puts out false information about crimes and censorship by Google ... and Google 'erases' some of the journalism about the crimes of Wales and his Wikipedia staff, some of the info about the CIA shills who are the front of Wikipedia's politburo hive controllers. A sweet deal between them ... the US found they could halfway control the internet with just two websites, Google and Wikipedia.

As has been said, Google and Wikipedia, are Joseph Goebbels' biggest wet dream come true.

Fri, 03/16/2012 - 17:10 | 2263394 Sophist Economicus
Sophist Economicus's picture

I also heard they eat living babies with green relish!

Fri, 03/16/2012 - 18:23 | 2263646 slewie the pi-rat
slewie the pi-rat's picture

actually, s/he may be correct, in general, but i have no clear data about any actual "cases"

from my own researches which as you can imagine might go about anywhere, there does seem to me to be a lot of pro-israel revisionism which, of course, is only there to counter the original revisionism, and so on

but, as with many things, if you don't know what you are seeing, it may look like green relish...  or something about nazism, which is, itself, much of the area of re-, re-re-, and re-re-re -visionism, amazinly enough, if you could ever imagine such a thing happening with actual info on the ww.internets... 

S_E, have you seen this? Embargo of Iran could restore gold standard in southwest Asia | Gold Anti-Trust Action Committee

then again, just this kinda "rumor" has been (seeminly, but certainly actually to some) very detri-mental to one or two other "opec" oilfields, formerly known as "nationA" and "nationB", that this is, like,  deja vu all over again!

Fri, 03/16/2012 - 19:33 | 2263838 Moe Howard
Moe Howard's picture

Start viewing any anti-Israeli utube vids and watch how fast you bluescreen. I'm talking about the lunatic ones, not the true ones.

Fri, 03/16/2012 - 21:09 | 2264063 CrockettAlmanac.com
CrockettAlmanac.com's picture

I've always enjoyed this one. It's been there for quite a while.

http://www.youtube.com/watch?v=M539PgDjbas

Fri, 03/16/2012 - 22:14 | 2264198 fuu
fuu's picture

Drunks are so cute.

Fri, 03/16/2012 - 22:30 | 2264239 CrockettAlmanac.com
CrockettAlmanac.com's picture

I hope somebody got his keys.

Sat, 03/17/2012 - 00:11 | 2264368 JOYFUL
JOYFUL's picture

another urban myth. 

Actually, cabbalist satanists and their mind-controlled western politico-judicial puppets torture, abuse, and then kill their child victims before eating them...with great, not green relish. 

Then the implicated are shown video of their indiscretions, and are signed on for life in service to the Golem Machine. http://www.abeldanger.net/2010/04/bullingdon-club.html

Jokes on you.

Fri, 03/16/2012 - 18:18 | 2263627 Yardfarmer
Yardfarmer's picture

that's some very interesting information, bank guy. I wouldn't doubt it. It looks like the synagogue of the "Little" and "Big" Satan is about ready to set the world on fire.http://youtu.be/QronFxk-LUc

Fri, 03/16/2012 - 16:57 | 2263358 rtalcott
rtalcott's picture

No the attack he is referring to was on an Iraqi reactor in the 80's?  90's?

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