Today in Fascism
- Thread starter Hüsker Dü
- Start date
Chelsea dad g09
SILVER
“The Palestinian people
does not exist. The creation
of a Palestinian state is only
a means for continuing
our struggle against the
state of Israel for our Arab
unity. In reality today there
is no difference between
Jordanians, Palestinians,
Syrians and Lebanese. Only
for political and tactical
reasons do we
speak today about the
existence of a Palestinian
people, since Arab national
interests demand that we
posit the existence of a
distinct ‘Palestinian people’
to oppose Zionism.” 8
— Zahir Muhsein
P.L.O. Executive Committee member 1977
does not exist. The creation
of a Palestinian state is only
a means for continuing
our struggle against the
state of Israel for our Arab
unity. In reality today there
is no difference between
Jordanians, Palestinians,
Syrians and Lebanese. Only
for political and tactical
reasons do we
speak today about the
existence of a Palestinian
people, since Arab national
interests demand that we
posit the existence of a
distinct ‘Palestinian people’
to oppose Zionism.” 8
— Zahir Muhsein
P.L.O. Executive Committee member 1977
Bruddah IZ
DA
1. HORMUZ: THE SECOND TOLL BOOTH.
THE CLIP
Last issue left you with paragraph ten, the moment Washington took the insurance pen back from London. This week Tehran answered with a pen of its own. Documents seen by Lloyd’s List show Iran’s newly created Persian Gulf Strait Authority requiring vessels to carry PGSA-issued coverage, free for the first sixty days of the memorandum, priced after that. On June 25 a drone struck the Singapore-flagged cargo ship Ever Lovely off Oman. On June 26, CENTCOM struck Iranian missile and drone storage and coastal radar sites in response, the first American strikes since the ceasefire extension. Trump’s own words on Truth Social: “One of the Drones solidly hit the upper deck of a large and very expensive Cargo Carrying Ship... Obviously, this is a foolish violation of our Ceasefire Agreement.” Asked whether Iran would face consequences, he said only, “You’ll find out.”
And here is the part the missile coverage skips. Chatham House’s own reporting puts an estimated eighty mines still in the Strait, mostly Maham 3 and Maham 7 blast mines built to dodge sonar, drawn from a pre-war stockpile of five to six thousand. Traffic is running at roughly twenty-five ships a day against a pre-war average near a hundred twenty-five, split across a northern route Iran controls and a southern route the United States backs along the Omani coast, both narrow, both a gamble. And by Chatham House’s own account, the United States currently has only one minesweeping ship in the entire Middle East. That is the real reason Washington needs the UK-France coalition it has been assembling since spring. The insurance fight gets the headline. The mine count is why the water still is not actually open.
THE RECORD
The City That Owns Everything and Answers to No One and The Empire That Never Died are still the desk’s biography, three centuries of pricing the risk of war and collecting on every premium. What is new is that the desk now has a rival. The American reinsurance facility from last issue, roughly forty billion dollars of revolving capacity through the Development Finance Corporation and Chubb, is still standing. Tehran’s PGSA is the answer to it, a second address trying to open in the same water.My own Square Mile series already named the mechanism underneath this fight. The 1901 D’Arcy concession priced Persia at sixteen cents on the dollar before a single barrel was sold, and every squeeze since, the 1951 nationalization, the 1953 coup, the sanctions after 1979, has run on the same instinct I traced there: a Persia at peace is a low-premium strait and a thin order book. A Persia cornered and lashing out is a high-premium strait and a full one. The desk does not fear the friction at Hormuz. It sells it. Watch the premium, not just the missile.
THE SEQUENCE