• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

Update: It's Not On Just Yet: Iran Denies Earlier Reports:... Iran Closes Straits Of Hormuz, Oil Explodes

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Tue, 12/13/2011 - 10:57 | 1973767 Cdad
Cdad's picture

LOL!  Iranians selling all crude fwds...as fast as possible...probably faster than their boats in the  Straits Of Hormuz.

Tue, 12/13/2011 - 12:40 | 1974408 ActionFive
ActionFive's picture

Has to make bankers jealous.

Tue, 12/13/2011 - 10:57 | 1973768 rambler6421
rambler6421's picture

WWIII bitchez!



Tue, 12/13/2011 - 11:01 | 1973798 Dr. Richard Head
Dr. Richard Head's picture

It's not war.  It's operation kinetic twist....bitchez.

Tue, 12/13/2011 - 10:58 | 1973777 MarcusLCrassus
MarcusLCrassus's picture

Good thing the oil pipeline they have been building to bypass Hormuz is almost done.

Problem, Iran? 


Tue, 12/13/2011 - 11:20 | 1973933 Bicycle Repairman
Bicycle Repairman's picture

Building pipelines to bypass "chokepoints" is a complete no-brainer.

Tue, 12/13/2011 - 11:33 | 1974009 Pegasus Muse
Pegasus Muse's picture

It's a not-so-good thing for oil producers that oil pipelines are tempting High Value Targets that are hard to defend and tend to get blown up with disturbing regularity when TSHTF. 

Tue, 12/13/2011 - 12:02 | 1974177 DaveyJones
DaveyJones's picture

yup kinda hard to protect a really long snake like that especially when those around it consider the builder a snake too.

Tue, 12/13/2011 - 10:58 | 1973779 Zero Debt
Zero Debt's picture

Pixel perfect spike

Tue, 12/13/2011 - 10:59 | 1973782 LookingWithAmazement
LookingWithAmazement's picture

Finally, Armageddon.

Tue, 12/13/2011 - 10:59 | 1973787 topcallingtroll
topcallingtroll's picture

You cannot close international transitways for military exercise.

It is considered an act of war.

Tue, 12/13/2011 - 11:09 | 1973859 CIABS
CIABS's picture

good point.  whether they actually did close it seems to be in doubt here.

Tue, 12/13/2011 - 11:12 | 1973874 SixFeetFromTheHedge
SixFeetFromTheHedge's picture

You mean the Iranian water borders which the US had drawed and then called "international waters"? 

Tue, 12/13/2011 - 12:04 | 1974188 DaveyJones
DaveyJones's picture

we and England redrew every other line in the greater area, why stop there

Tue, 12/13/2011 - 11:16 | 1973902 lunaticfringe
lunaticfringe's picture

Yea...so watcha gonna do about it?

Tue, 12/13/2011 - 11:27 | 1973992 infotechsailor
infotechsailor's picture

"its an act of war"


... but western led sanctions and flying drones over their airspace, that's just 'non-kinetic action'

Tue, 12/13/2011 - 11:00 | 1973792 Fips_OnTheSpot
Fips_OnTheSpot's picture


Tue, 12/13/2011 - 11:00 | 1973794 Iranian Dictator
Iranian Dictator's picture

I told you bitchez I was going to close it. Now I got your drone and your oil.

Tue, 12/13/2011 - 11:01 | 1973799 MountainMan
MountainMan's picture

Hormuz, bitchez.

Tue, 12/13/2011 - 11:02 | 1973806 maximin thrax
maximin thrax's picture

It's been reported that someone just littered the Straits of Hormuz with targets for an impending American naval exercise. /

Tue, 12/13/2011 - 11:03 | 1973810 Caviar Emptor
Caviar Emptor's picture

Send in the drones! 

Tue, 12/13/2011 - 11:45 | 1974081 MsCreant
MsCreant's picture

Don't you love farce? 
My fault, I fear. 
I thought that you'd want what I want - 
Sorry, my dear. 
But where are the drones? 
There ought to be drones. 
Quick, send in the drones.

Tue, 12/13/2011 - 11:54 | 1974135 DaveyJones
DaveyJones's picture

must you drone on?

Tue, 12/13/2011 - 12:16 | 1974259 MsCreant
MsCreant's picture

And where are the drones? 
Quick, send in the drones. 
Don't bother - they're here.

Tue, 12/13/2011 - 12:26 | 1974324 DaveyJones
DaveyJones's picture

and just like Emmett Kelly, it's all driven by a sad clown

Tue, 12/13/2011 - 11:03 | 1973812 Macca
Macca's picture

Maybe it has something to do with this:


Tue, 12/13/2011 - 11:53 | 1974120 Savvy
Savvy's picture

Interesting. It is, of course, a senior commander of Iran's revolutionary guards that is president of OPEC this year



Tue, 12/13/2011 - 11:03 | 1973813 Dick Darlington
Dick Darlington's picture

Looks like oil is not the only thing spiking...

12-13 10:00: French banks borrowing from ECB EUR 158.5bln in October 2011 vs. Prev...

Tue, 12/13/2011 - 11:03 | 1973814 Jumbotron
Jumbotron's picture

High oil helps create inflation.

Less money for the sheep to buy iShit.

Less money to pay off 1st and 2nd mortgage.

Economy tanks....(faster, harder, better)

Bernanke now has excuse (faster, harder, better) for QE (n).

Tue, 12/13/2011 - 11:30 | 1974008 infotechsailor
infotechsailor's picture

succintly put. except for the fact that the bernank and banks are the ones creating the inflation. the high price of oil is just a symptom , and the strait closing is just a scapegoat for the rising prices of everything.

Tue, 12/13/2011 - 17:31 | 1974246 DaveyJones
DaveyJones's picture

fiscal policy can not create oil. inflation is definitely a bernank bastard child but ever increasing shortage of the liquid that drives our entire economy has its own special effects.  


Tue, 12/13/2011 - 11:05 | 1973820 LookingWithAmazement
LookingWithAmazement's picture

Oil already going little down. Armageddon over.

Tue, 12/13/2011 - 11:06 | 1973825 Vergeltung
Vergeltung's picture

dirka dirka!


Tue, 12/13/2011 - 11:07 | 1973834 Franktastic
Franktastic's picture

good thing i have my 50cc scooter, that is good for 100 mpg...not to good for the snow tho.

Tue, 12/13/2011 - 13:19 | 1974584 flattrader
flattrader's picture

Move to a warmer climate.  Grow potatoes.

Get a dual.  Learn to distill potatoes. Get an E85 convesion kit for bike.  Store some gasoline.  Mix booze and gas together.

Now you can put booze in your tank and belt some back.  Drive/bike while everyone else is walking.

Tue, 12/13/2011 - 11:07 | 1973838 PaperBear
PaperBear's picture

Is it going to stay closed ?

Tue, 12/13/2011 - 11:09 | 1973841 Caviar Emptor
Caviar Emptor's picture

Ok. At last count the US was at war or otherwise engaged in battle with/in/for 5 Arab countries, and had boots on the ground in 8 (that we know of). So adding a 9th is just a walk in the park. 

Make the Persian Gulf the 6th American Great Lake

Tue, 12/13/2011 - 12:17 | 1974263 DaveyJones
DaveyJones's picture

we're not at war silly, we're fighting terrorism with contract security forces. 

Tue, 12/13/2011 - 11:16 | 1973906 CitizenPete
CitizenPete's picture

This isn't Dennis the Menace loosing his kite in Mr. Wilson's yard. 

Tue, 12/13/2011 - 13:59 | 1974763 Matt
Matt's picture

Actually, it sort of is, if you think about it.

Crotchity old civilization, young uber destructive civilization. Hopefully, in the end they somehow become friends. Its like Dennis the Menace as directed by Michael Bay.

Tue, 12/13/2011 - 11:08 | 1973845 topcallingtroll
topcallingtroll's picture

Ok false alarm from what i can tell.

They are conducting training to close the strait, but are not actually closing it during the training.

Did George Washington hack Tyler's account?

Tue, 12/13/2011 - 11:42 | 1973925 tmosley
tmosley's picture

Where did you read that?

I don't see anything clarifying it one way or the other.

Edit:  It seems irresponsible to allow civillian traffic through a war game zone.  I could understand if they kept a corridor clear for civillian traffic, or were otherwise directing it through the area.

Tue, 12/13/2011 - 11:27 | 1973988 Tyler Durden
Tyler Durden's picture

If you have any concerns, please refer them to RanSquawk, and the market, both of which reacted to initial news distribution.

Tue, 12/13/2011 - 12:17 | 1974270 Potemkin Villag...
Potemkin Village Idiot's picture


What would be as much (if not more) interesting is if any of you could dig up who was able to FRONTRUN the spike...

I'll pay to see that...

Tue, 12/13/2011 - 11:08 | 1973848 clones2
clones2's picture

Yeah - "explodes" is a little strong of a word.  I think "pops and fades" is a little more accurate.  I was scared for a second though. :-)

Tue, 12/13/2011 - 11:09 | 1973854 americanspirit
americanspirit's picture

A couple of bucks a barrel is not "exploding". Now give me $25 a barrel and I'll duck and cover.

Tue, 12/13/2011 - 11:10 | 1973863 I am a Man I am...
I am a Man I am Forty's picture

this is why i'm heavy in oil stocks, iran and bernanke and the warmongering us

Tue, 12/13/2011 - 11:14 | 1973864 thunderchief
thunderchief's picture

No need for panic, folks.

This is Iran just saying they want to go Anal. 

For the first time.

I think they may get an answer very soon.

As much as it may hurt.

Tue, 12/13/2011 - 11:11 | 1973870 Ying-Yang
Ying-Yang's picture

This was a reference to US Defense Secretary Leon Panetta's warning Friday,  Dec. 2  "…any disruption of the free flow of commerce through the Persian Gulf is a very grave threat to all of us" and a red line for the US."

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