I Hope Everyone Is Ready
by Karl Denninger
Two points of note.
First, Iran’s currency has effectively imploded; our inflationary games along with our “sanction” regime has caused a 20% daily drop in the Iranian currency value against the dollar. This volatility in turn led to the disappearance of convertibility (duh!) which in turn means that things like food suddenly become very hard to obtain, even if you are putatively wealthy.
Second, Syria and Turkey are having a little dust-up that could turn very not little in a hurry. If you don’t understand why this is important please get out a map and have a look at some of the potential problems that could immediately appear if this is not contained, and it may not be contained.