The Agora Financial analyst Byron King said this yesterday in their 5 Minute Forecast - another reminder to own physical gold:
On July 28, 2010, a big dent appeared on this Japanese oil tanker in the Strait of Hormuz: (photo shown) Nobody noticed for a few days. When discovered, the damage was first thought to have been caused by an earthquake-induced wave. Then it was thought to be the result of a collision. Then, last Wednesday, al-Qaida said, no, it was a bomb. This heroic operation will have a major effect on the global economy and the oil prices, (AQ statement). Had the tanker gone down... the headlines would have been dramatically different over the past two weeks.
We've been expecting an attack on the Strait, one of the world's six great oil choke points since 2004. Roughly 40% of the world's shipped oil passes through these waters.
The next ‘Battle of the Atlantic' will be waged in the Persian Gulf and North Arabian Sea. It won't involve U-boats, but will involve low-tech bombers in fast boats loaded with explosives. A low-tech combination of sea-mines and boats... waterborne cruise missiles.
It'll be bad for the oil business of the Middle East, including for Iran. But it'll be good for the rest of the world's oil producers... and for the price of gold. Best to be prepared... Here's a link to the story. How to prepare? Buy gold in physical form. Small gold coin, numismatic gold coins, rare gold coins, numismatic silver - all good! Buy gold!