Iran’s blockage of the Strait of Hormuz to the United States and Israel and the demand of Iran that all tankers passing through pay in non-dollar denominations has undermined the political economy of the capitalist West.
Mordor’s strategy of printing more money cannot replace the growing lack of oil. One author claims the impact is worse than the oil shocks of the 1970s. It is not just the price of oil that is rising, but also liquified gas as well as the availability of computer chips.
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