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Cargo Vessel Comes Under Apparent Iranian Attack Near Oman, Crude Jumps, After IRGC Warned It Controls Hormuz Strait

Iran tightens control over Hormuz: The IRGC says ships must obtain authorization to transit the strait or face enforcement action.
Shipping disruptions emerge after increased flows: A tanker near Oman was reportedly attacked, and several vessels turned back after Iranian warnings, sending oil prices higher.
Tehran seeks billions in transit fees: Iran wants to impose Hormuz passage charges that it says could generate up to $40 billion annually.
Rubio rejects the plan: The U.S. says Gulf states offer “zero support” for Iranian tolls and warns they would undermine freedom of navigation.

https://www.zerohedge.com/geopolitical/rubio-gulf-says-zero-support-hormuz-tolls-irgc-warns-ships-not-complying-will-be-dealt

In my view re PMs outsiders see the prices rising, and wait too long, and they all barge (with paper GLD SLV contracts ETFs etc) buy in on the highs and drive prices even higher.

Then, no outside buyers left, prices start dropping and they start losing money and all start selling all the nonsense paper crap they bought, selling at the market, and take losses and drive prices too low.

Hopefully they learned a lesson and won’t come into our sand box anymore. Naturally, we will be adding to positions on the lows, as the gamblers are selling out on the lows.

Hearing Federal District Court today

The Hormuz Letter
@HormuzLetter
·
10h
BREAKING: Iran’s IRGC Navy declares the US-backed Omani alternative southern route for the Strait of Hormuz, announced yesterday, “unacceptable and completely dangerous,” asserting that only routes announced by Iran are authorized for passage and warning that “violator vessels will be dealt with.” The statement adds that every ship now attempting to pass through the southern route without coordination will be forced to stop and will be targeted, per Tasnim.

This directly rejects the US-backed Omani framework that tried to bypass Iran’s sovereign control in the Strait of Hormuz by routing traffic along the Musandam Peninsula, with Iran asserting that any navigation outside routes it has announced is “strictly prohibited,” and mandatory coordination via Channel 16 will be required for all passage.

“endured an awful lot”

You said a mouthful there brother!

Pray for them.

It looks like those high rises that are still standing are so badly damaged that they will have to be taken down as well.

Yes, horrible for those Venezuelans. Praying for them, they’ve endured an awful lot since Maduro.

Unfortunately, those earthquakes are just birth pains. Nothing like what is coming over the next 7 or so years IMHO.

Thomas van Linge
@ThomasVLinge
·
11h
Venezuela 🇻🇪: footage from one of the main boulevards of La Guaira after the earthquake.

Almost every building collapsed.

https://x.com/ThomasVLinge/status/2069983943261077749

Open Source Intel
@Osint613
·
3h
Full towers down in Venezuela.

Before and after.

Unbelievable devastation.

https://x.com/Osint613/status/2070099714645594397

I would argue that you cannot have a super bull in pm’s because of the constant manipulation. They consistently destroy the momentum needed to sustain a super bull and therefore exhaust the buying prematurely. I agree that it was a strange way to end a super bull, that was the intent. It was an unnatural way for it to end. It has taken me 25 years to figure this out. 🙂

BTW, the same might be said for oil and gas. The difference being that oil stocks actually perform.

Rates down 3 bips this am.

Bitcoin is down 3%, under $60K

The Vigilant Fox 🦊
@VigilantFox
·
Jun 22
Tucker Carlson says he’s officially done supporting the Republican Party after 35 years.

Listen closely to how he ends it. That’s not a man quitting. That’s a man counting.

“There’s no chance I would support the Republican Party. Not going to support the Democratic Party. I don’t know what I’m going to do.”

“How could I, or any American voters, support a political party that’s not loyal to the United States, that puts the interests of a foreign country above those of its own citizens?”

“It’s not possible to vote for people like that. And I’m not going to.”

https://x.com/VigilantFox/status/2069022067366699355/video/1

So effing exciting!

Every super Bull normally ends with a blow off top and the whole world talking about that mkt…..even individual commodity mkts do it , albeit to a lesser degree than the SM. ie Cocoa just recently.

Joe Kennedy made his fortune in the nineteen twenties, by selling when his shoe shine guy was telling him what to buy…..the great commodity mkts of 70’s/80’s, got onto TV…..The PM bull in the 80’s had queues down the street to sell antique Gold and Silver, everyone was talking about the Bull……the ’87 crash in the SM had everyone in the SM, same as the Dot Com Boom…..

I would argue we have not seen any classic mania signs……How many new posters have come to the Tent……but I am biased .

Then there’s still the question if you hold do the shorts use your shares to short the price down?

Right and why a SM crash due to some event will drive the currency of that country up fast temporarily.

But the question you have to ask yourself at that time is what are you going to do. Lose both and take a loss maybe holding some just to piss off the ones who want the PMs to go lower so they’ll be right and get out because as far as the stocks it’s already traded in dollars and still have the cash to buy them back when the time comes.

My view when ever lots of people cash out its should drive up Dollar demand.

ChatGPT Question:

Does the US dollar gain strength because of people selling their stocks and going back into US dollars.

Ans: Yes — often, at least temporarily.

What happens

If investors sell U.S. stocks, they usually receive U.S. dollars from the sale. That can create short-term demand for cash/T-bills, which can help the dollar.

But the bigger driver is usually where the money goes next

• If they sell stocks and keep the money in dollars / money markets / Treasuries → that can support or strengthen the dollar.
• If they sell U.S. stocks and move the money into foreign stocks, gold, or another currency → that can hurt the dollar instead.

In market panics

Very often there’s a “flight to safety”:

• sell stocks
• buy Treasuries
• hold cash
• reduce leverage / pay back dollar loans

That often makes the U.S. dollar rise, even while stocks fall.

So the short answer

Yes — stock selling can strengthen the dollar if the proceeds stay in dollar assets, especially in a risk-off panic.
But stock selling by itself doesn’t automatically strengthen the dollar — it depends on where the money goes afterward.

The petrodollar is required again after four months of redundancy if oil and gas (and helium etc.) are flowing freely again.

High (Volcker) interest rates hammered gold and inflation in 1980 because there was no Govt debt. so there was no interest charge, whereas high rates this time simply make the deficit, and the money printing, worse. High rates might crush CPI briefly, but the overall effect will be inflationary.

Well that pretty much wraps it up less something changes in the meantime. Yes any bounces in metals nearer term can be sold while watching the Fed that just shows how financially messed up things have gotten because of crony capitalism and corrupt governments.

Unless you have at least another 20 years it will be useful to you it makes no sense to be all in long PM stocks and accumulate the fiat to invest in other things or the next lows if you have the time in years when it fizzles out or something tangible of equal value so you don’t need to sell your phyzz less your are up to risking it to get more back for less when it goes back down. And when you see the talking heads telling you this can go much higher after the rally,  and momo is now dropping along with the shares turn off the noise in this volatile sector and don’t take a loss.

Oliver took a hiatus from X as I understand. Hunter was what $150-$300? I don’t remember but what I know is that neither will happen this year. I’m surprised we had the kind of rally we did, they’ve crushed sentiment so badly for the last 25 years. The general public wasn’t buying like they did in 2011 and will never come back – they were huge sellers this time.

All that being said, this could be a massive hit job that gets things prepped for rate cuts later in the year that might surprise people. Maybe in the fall. Oil is back to where it was pre-Iran. Even if that’s the case, it’s going to be a long, crappy summer for pm’s.

Base metals were up today surprisingly. PM’s always take the brunt of any massive selling.

Rates eased a lot today. The dollar should follow. Rallies in pm’s will be sold though. GDX held the double bottom and I think it might hold, but if it gets back to the 50 dma, it will be sold again. These shares are pretty much toast for months – again.

Did Oliver close his X account? He was way out of line. Hunter is over the top but has good information and was close to the nearer teem numbers besides what ever numbers they come up with. Like I mentioned before they are not just wrong  less it’s  practically already there,  some of the time but most of the time. People have to do there own DD.

Although have to remember less their paid  what’s happening now other than them over looking it, like the Fed  is not their fault. This year isn’t over yet but the ones doing this  want to get ahead of it themselves.  I am beginning to wonder if top capitalist and government wants to keep the PMs for themselves now. Will they try to ban it or restrict it at some point in the future so they can do just that? Keep it all for themselves now they they need it and those who want to  control the fiat don’t want competition. No matter what form of money or barter comes from it their ideations will be their own undoing. In the meantime waiting for them to take it as low as they can with PMs the stock I mentioned building momentum Im not going to mention again at this point because it’s already climbing. Not space x.

NYT sounds major midterm alarm bells: Reveals PROOF Dems in historic ‘crisis’…

Never mind the “SAVE Act” excuse. It’s B.S. They’ll remove the CBDC provision quietly.

Trump Cancels Housing Bill Signing That Would Ban CBDCs – Demands Action On SAVE Act First

Nothing beats silver to the bottom. Absolutely nothing. Chris Oliver Mr. $300-$500 silver has shutdown his “X” account for the rest of the year. I wonder if that other genius Goldie posted videos of, Dave Something, dares to show his face on another pm video?

Ipso – supply doesn’t matter.

They’re getting rid of the inflation problem in a hurry. We better start seeing prices come down in the real world.

Is gold making new highs in all the other garbage currencies? So much for the dollar collapse.

I don’t dare even look at my account.

https://www.forbes.com/sites/joshuacohen/2026/06/16/mahas-food-agenda-undermined-by-trump-administration-policies/

I thought crimex was running out of gold and silver?