Sunday, January 22, 2012
Is the St About To Hit The Fan?
By Reginald Kaigler (DEMCAD)
Here's two dates I'm looking at.
European Union Diplomats are meeting to discuss the possibility of putting an embargo on Iranian oil. If this happens, this will be an act of war. Greece, Italy and Spain buy oil from Iran, so will they have enough pull to sway the rest of the EU? The Iranians could respond to this event by shutting down traffic in the Strait of Hormuz. This would devastate the world oil market. Will this lead to war? Or will Iran back off? Either way, I'll be watching.
Zerohedge is reporting that if Greece can't come up with the cash to make the bond payment on March 20th, it'll default on its debt. But how will this affect the rest of the EU?
Fitch Says Greece Will Default By March 20 Bond Payment
EU Diplomats To Meet On Iran Sanctions Jan. 23