Valuetainment - March 16, 2026


“Are You With Us Or Iran？” - Trump Puts NATO & China On Notice Over Strait of Hormuz Shutdown

Topics
Trump Warren NATO
Hosted by
Patrick Bet-David
Mentioned
Hormuz Trump Macron Kristen Welker Scott Besson He Lifeng Pazeshkin Liefeng Newsom Besson Vinny
“Targeting U.S. Infrastructure” - FBI WARNS California Facing Iranian Drone Attacks “Trust Trump’s Instincts” - Trump Moves 2,500 Marines As Iran Ground War Talk HEATS UP

Episode Stats


Length

23 minutes

Words per minute

193.79

Word count

4,550

Sentence count

294

Harmful content

Misogyny

1

sentences flagged

Hate speech

24

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Trump warns NATO to help reopen the Strait of Hormuz. What does this really mean? Tom and Rob discuss this and more on today s episode of the podcast. Subscribe, Like, and Share to stay up to date on all things financial!

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
Topics generated with Qwen2.5-3B-Instruct.
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.080 Okay, when I sell my business, I want the best tax and investment advice.
00:00:04.820 I want to help my kids, and I want to give back to the community.
00:00:07.960 Ooh, then it's the vacation of a lifetime.
00:00:12.320 I wonder if my head of office has a forever setting.
00:00:15.760 An IG Private Wealth Advisor creates the clarity you need
00:00:19.080 with plans that harmonize your business, your family, and your dreams.
00:00:23.520 Get financial advice that puts you at the center.
00:00:26.020 Find your advisor at IGPrivateWealth.com.
00:00:30.000 Trump warns NATO presses China to help reopen Strait of Hormuz.
00:00:34.260 What does this really mean?
00:00:36.340 Tom's got some thoughts.
00:00:37.760 Rob, if you want to play the clip, and then I'll read the story.
00:00:40.640 As an example, in many cases, they're NATO countries.
00:00:44.140 We're always there for NATO.
00:00:46.180 We're helping them with Ukraine.
00:00:49.200 It's got an ocean in between us.
00:00:52.160 It doesn't affect us, but we've helped them.
00:00:54.280 It'd be interesting to see what country wouldn't help us
00:00:57.880 with a very small endeavor, which is just keeping the strait open.
00:01:02.360 By comparison, it's small because Iran has very little firepower left. 0.84
00:01:09.620 Okay, so to read this,
00:01:13.960 Trump warned NATO of a very bad future if allies do not help open up the Strait of Hormuz
00:01:20.120 and said he may also delay a planned summit with President Xi
00:01:24.680 in comments published in Financial Times on Sunday.
00:01:27.460 I think China could help, too, because China gets 90 percent of its oil from straits.
00:01:31.980 Trump told the newspaper, adding he would prefer to know Beijing's position before the planned visit.
00:01:37.800 We may delay. He set up the trip.
00:01:40.760 Scott Bessent and the Chinese vice premier, He Lifeng.
00:01:46.480 I thought it meant like his lifeline, but that's actually his name.
00:01:50.540 He, H-E-L-I-F-V-N-G, Lifeng. 1.00
00:01:53.940 Lifeng. Lifeng. This is not like desalineation.
00:01:56.920 This is something of desalination.
00:01:58.640 We're not talking about that.
00:01:59.780 This is literally how his name is spelled.
00:02:01.820 Rob, can you please highlight the name so everybody can see how his name is highlighted right there?
00:02:05.300 It's almost like he's living his best life.
00:02:06.220 And zoom in as close as possible.
00:02:08.020 Zoom in if you can.
00:02:09.280 He Liefeng. 0.97
00:02:11.320 Great name.
00:02:12.160 I mean, it's really a great name if you think about it.
00:02:14.420 Wrapped up the first of two days of talks in Paris on Sunday to iron out kinks in their trade the truce
00:02:20.960 and clear path for Trump's trip to Beijing to meet with Xi.
00:02:24.060 it's only appropriate that people who are the beneficiaries of the straight will help to make 0.89
00:02:29.480 sure that nothing bad happens there. Tom, thoughts? So over the weekend, yeah, I was kind of disturbed
00:02:36.800 by this because we've been holding a strong leadership position. Trump's been holding a
00:02:41.260 strong leadership position. And then over the weekend, it's like he opens it up in three
00:02:45.920 directions. The first thing he says, I think China should help us, as you pointed out. I think they
00:02:53.420 need to weigh in. They need to get their oil from Straits of Hormuz. They need to exert their
00:02:57.760 own pressure. Hey, let the oil go through. The second thing he does with China is doesn't just
00:03:03.440 ask that. And he says, and I need to know what's going on before we do the summit next week.
00:03:09.060 Otherwise, I'm not going to do the summit. So he says, Vinny, I'm going to call off the summit.
00:03:12.860 These are important economic summits. We're trying to get the ball rolling with China. We're trying
00:03:16.900 to get economic agreements and things in place, you know, and keep our eye on them with Taiwan.
00:03:22.000 The third thing he did is he reaches out to NATO and he says, hey, you know, you guys, you guys should weigh in as well.
00:03:30.840 You know, I want to know where you stand.
00:03:32.940 Are you supporting us?
00:03:33.960 And do you can you put some.
00:03:35.000 Do you have a problem with that?
00:03:36.300 Do you have a problem with that ask?
00:03:37.420 So I don't have a problem with the ask in normal circumstances.
00:03:42.200 But.
00:03:43.600 You went in.
00:03:45.260 We went in to do this.
00:03:46.940 And now it feels like we need other people's help when the tone we had, Pat, for the first 10 days, we got this, we're taking care of it, we have a structured plan, and here we go.
00:03:58.100 And now it feels like maybe things are getting a little bit not as certain, and we need some help here.
00:04:04.960 And so that's what I'm a little bit concerned about.
00:04:08.300 It's like, are we reaching out for help, even trying to influence China?
00:04:11.880 I mean, on something that was ours?
00:04:14.620 and that we need to mop up.
00:04:18.980 Here's how I process this, Tom.
00:04:20.900 I'm not a fan of NATO in the first place.
00:04:23.040 And let me tell you why.
00:04:23.740 I don't trust you.
00:04:24.520 But the point is, why did we start it?
00:04:26.200 Why did NATO get started?
00:04:27.340 The fear of who?
00:04:28.640 Russia.
00:04:29.360 Actually, Soviet Union.
00:04:31.020 And missiles in the 70s.
00:04:32.240 All right.
00:04:32.500 And how much money do we give them every year?
00:04:34.420 Too much.
00:04:35.160 No, but you know what, Rob, can you pull out what we give them every year?
00:04:37.720 NATO's annual budget is $3.8 billion.
00:04:40.300 U.S. shares 16%.
00:04:41.840 Why?
00:04:42.840 For what?
00:04:43.240 Why are we giving 16%?
00:04:44.940 And by the way, we give you 16% and you want to come out and say, you know, you don't want to support.
00:04:52.220 What does Spain contribute?
00:04:53.840 What does Spain contribute?
00:04:55.920 I'm curious.
00:04:56.840 What does Spain contribute towards you?
00:04:58.480 That's just the fees, Pat.
00:04:59.540 Remember the support's another.
00:05:02.080 No, no.
00:05:02.420 I know that on top, I was about to read it.
00:05:04.080 On top of that, the military support that we offer, the defense support that we offer,
00:05:08.700 the 100,000 U.S. troops that are stationed in Europe that we offer,
00:05:12.780 We're paying for all of that, right?
00:05:14.820 And you don't want to back us up if we're making the ask.
00:05:17.740 How often do we make asks?
00:05:19.340 Actually, Rob, can you pull up the top 10 times U.S. has asked NATO for favors?
00:05:26.940 Top 10 times U.S. has asked NATO for favors.
00:05:29.680 How often do we ask them for favors?
00:05:30.860 It was definitely after 9-11.
00:05:32.200 That was the first time I think we implemented Article 5, I want to say.
00:05:35.240 How many times did we ask them?
00:05:36.400 I think that was the one major time.
00:05:37.900 In crisis times, I would be surprised if there was more than four or five actual crises.
00:05:42.940 So then if that's the case, if we're doing this, hey, we need you to be with us.
00:05:47.700 We're your biggest contributor to your fund.
00:05:50.040 Every year until presidents showed up, they're like, how much money are you putting in?
00:05:53.120 I just looked up right now how Spain contributes, and Spain came out and said, we're not going to be doing anything.
00:05:58.320 You know, you can't fly over us.
00:05:59.600 They pay 5% to 6% of NATO's budget, okay, which is $150 million to $200 million per year.
00:06:05.300 How big is Spain's military?
00:06:07.120 How does Spain help NATO be safer?
00:06:10.020 How does Spain help Europe be safer?
00:06:12.120 I don't know.
00:06:12.860 When you hear some of this stuff and they don't want to defend it,
00:06:16.340 the reality of war is here's how war works, my opinion.
00:06:20.960 You say you're going to go to war.
00:06:22.520 You got all these plans.
00:06:23.560 You have all this stuff.
00:06:24.300 You get as much intel as you want, right?
00:06:26.800 And then it's the actual war.
00:06:28.960 Then what happens?
00:06:30.220 Well, you can train all you want against somebody.
00:06:31.960 You're going to fight them.
00:06:32.640 And then you're fighting.
00:06:33.280 You're like, oh, my God, I wasn't expecting that.
00:06:34.880 What was that all about, right?
00:06:36.620 So to me, there is some some weird things that's happening with the war that they did not expect that for him to not come asking NATO.
00:06:45.820 And by the way, if he's saying this publicly, if he's saying this publicly, Tom, which is what I think China should help, too, because China gets 90 percent of its oil from the Strait of Hormuz.
00:06:59.260 Trump told a newspaper, adding he would prefer to know Beijing's position
00:07:03.800 before the planned visit.
00:07:06.420 Let me read that one more time.
00:07:08.360 He would prefer to know Beijing's position before the planned visit.
00:07:12.060 Or the summit.
00:07:12.780 Right.
00:07:13.420 What does that mean, though?
00:07:14.840 That's what he said in the paper.
00:07:16.060 The phone call was probably a little bit more direct.
00:07:18.460 But if he's saying this publicly, he would prefer to know Beijing's position
00:07:24.220 before the planned visit.
00:07:25.380 That means he doesn't know their position.
00:07:26.900 That's right.
00:07:27.260 That means when he's having the call, are you with us, are you with them, he doesn't.
00:07:30.460 You know what Macron said yesterday?
00:07:32.340 Macron came out and said, I called President Pazeshkin from Iran, and I told him, hey, stop messing around with Strait of Hormuz or else.
00:07:41.220 What's Macron publicly saying to Trump?
00:07:44.600 I'm with you.
00:07:45.460 I'm with you.
00:07:46.600 And Trump is trying to find out, hey, China, before I come to you and we do any of these deals, are you with us or are you with Iran?
00:07:52.360 I actually think he's leveraging NATO as a way to see what position China is going to take.
00:07:59.540 I understand it's probably not as – by the way, push back if you have a different position.
00:08:05.780 What other way do you see it?
00:08:06.700 I think you're right.
00:08:07.200 My point was independence.
00:08:08.340 We look like we had a strong, independent voice.
00:08:11.060 Now we're rallying people, and while he may be using this and using it in the right way to get the right leverage and the right phone calls,
00:08:18.660 you know we looked real independent and strong and now it looks like we need our friends
00:08:22.400 oh there there is from day one we needed friends from day one i mean you you know this is this has
00:08:29.940 been with israel then golf's been involved and other people have been involved i don't think
00:08:34.300 this been a this has been an alone project from day one has it been no well here's my thing
00:08:41.000 do you did you think this was an alone project from day one no we were we weren't even getting
00:08:47.180 verbal support from nato especially spain so i don't know that did we go alone no but there was
00:08:54.000 not full-throated support for this everybody was like i can't believe you're doing this
00:08:59.420 oh that part i agree with that part i agree with but guess what he called the shots now what he's
00:09:06.880 the president there's consequences with elections if a guy gets elected and they go to these
00:09:11.980 different events and they realize this is not a biden would biden guess what they do it's the
00:09:16.540 other way around they tell biden what to do this time it's a new president coming in he's telling
00:09:20.800 other people what to do and they're not used to that like wait a minute we're typically accustomed
00:09:24.400 to telling you guys what to do but you don't seem to be afraid of it yeah here's what i need you guys
00:09:29.640 to do adam your thoughts so ultimately this comes down to iran you know uh the one word i think of
00:09:35.580 when i think of iran it's hostage you know they came in in 1979 and held how many of our citizens
00:09:42.040 hostage in 444 okay so they came in in 1979 and i think can you fact check 400 to 500 of our own
00:09:48.040 citizens hostage and now what they're doing for leverage is holding the world hostage so that 0.99
00:09:54.220 starts with this hormuz thing that starts with oil that starts with energy 52 it goes to shipping
00:09:58.980 four days okay and then it ends to the supply chain remind me where we used to hear the supply
00:10:04.180 chain supply chain supply chain all during covid but if they didn't expect this from iran then they
00:10:11.840 went in a little naive i would like to think that they knew all right what are the options iran has
00:10:18.340 they i don't know if they expected them to attack their own neighbors i don't know if they expected
00:10:23.980 that oh gee that caught them maybe off guard uh did they expect them to use the straight of
00:10:30.380 as as leverage well if according to one of the uh top insiders who was on meet the press with
00:10:36.800 Kristen Welker this weekend they expected this they said what's the highest gas prices we've
00:10:42.440 ever had in America well it was in 2022 when gas went up to five bucks during the time that Russia
00:10:48.620 invaded Ukraine so money power respect this was all that comes down to look at the end of the day
00:10:54.860 it's this Iran is the bad guy and we could kick the can down the road or we can deal with this 0.97
00:11:01.500 now and trump and i respect the hell out of him he's dealing with this now because who knows who
00:11:07.040 the next administration is going to be who next who knows who the next president's going to be
00:11:11.040 and if you don't deal with iran now you're going to be dealing with iran for the next
00:11:15.060 10 20 50 years and ultimately this is my biggest fear if i could just land this plane
00:11:20.420 do we want a nuclear armed jihadist regime in the middle of the world you know they talk about
00:11:28.880 what's a case example here north korea north korea they called you know what they call north
00:11:34.100 korea the hermit kingdom because they're all the way on the other side of the world with nukes 1.00
00:11:39.060 they don't really affect geopolitics to an extreme but we know what that's like dealing
00:11:43.640 with north korea could you imagine a north korea with jihadist tendencies funding terror with nukes 0.66
00:11:50.420 at the end of the day if we don't deal with this now our kids or our grandpa or grandkids
00:11:55.700 are going to be dealing with this and the debate is over we're dealing with it now
00:11:59.700 it's just now what are the next steps yeah i mean it's it's fair what you're saying and by the way
00:12:05.640 this leads to what iran foreign minister came out two things that was mentioned on the foreign
00:12:09.500 minister's call one of them was about the nuclear conversation and uh the other one was about the
00:12:14.600 fact that any country this is what they said rob if you got the clip any country except for u.s and
00:12:19.200 israel can pass through the strait of hormuz iranian foreign minister says uh this is a new
00:12:24.420 york post story so iran is this it rob yes go for it well as a matter of fact this strait of
00:12:33.120 hormos is open it is only closed to the tankers and ships belong to the to our enemies to those
00:12:42.220 who are attacking us and their allies others are free to pass of course many of them prefer not
00:12:49.980 because of their, you know, security concerns.
00:12:53.360 This has nothing to do with us.
00:12:55.440 And at the same time, there are many tankers and ships
00:12:58.420 who are passing through the Strait of Hormuz.
00:13:00.920 And I can say that the strait is not closed,
00:13:06.620 but it is only closed to American, Israeli, you know, ships and tankers,
00:13:13.060 and not to others.
00:13:16.040 Tom.
00:13:16.180 so i i think this is your classic um bluff and it's like all right all these tankers can go
00:13:26.860 through except these all of these tankers are like registered they don't carry certain flags
00:13:33.860 they're like liberian registry and stuff you have to go look and see what the registry is
00:13:37.680 and some of them may be carrying for exxon some of may be caring for this i don't know that how
00:13:42.200 you sort it out. And I read this this weekend that said, okay, so he's not going to allow
00:13:46.920 tankers this. So really, because there's, there's these freight lines. And so I don't know how they
00:13:53.620 sort them out. And so that's kind of the, the question that I had, how do they know who's
00:13:58.140 carrying what? Right. And you have to like board them and ask for the manifest. Oh, you know,
00:14:02.860 we're, we're, we're this line and we're Liberian registry and we're carrying for
00:14:07.320 shell oil today where's the shell oil going oh we're uh yeah we're going to los angeles san pedro
00:14:14.000 first of all why would they be doing that but you see the point pat so i was trying to figure out
00:14:18.340 how exactly do they sort them out or is it just the great bluff only these people can go through
00:14:23.780 only these can go through what is there a tsa checkpoint on one side of this are they checking
00:14:28.780 papers so to me it seemed like a little bit of a just a kind of a bluff it's like how do you know
00:14:34.340 I mean, a bluff is one.
00:14:35.880 The other part is he's lying because if you look at the ships that were hit by,
00:14:40.400 one ship was from Thailand that they were hit by the projectiles, right?
00:14:44.060 Okay, so that's not U.S. or Israel.
00:14:46.460 The little drone kind of crashed into the side.
00:14:47.880 That's right, and it was three missing members or whatever.
00:14:50.080 Another one was Japan, and you got a couple other countries that you have
00:14:53.420 that Panama was one of them, an oil tank, one crew member killed,
00:14:58.220 again, another projectile, and you have Angola.
00:15:01.340 So they're using this as a way to say, hey, world, we're good with all of you,
00:15:06.860 just not good with Iran and Israel.
00:15:08.900 In the interim, what other countries did you hit in the Gulf states?
00:15:12.240 Who else have you hit?
00:15:13.140 Bahrain.
00:15:13.620 Are you attacking all these other places?
00:15:15.480 Everybody.
00:15:16.140 So what do you mean?
00:15:16.680 You're allies and you're good with everybody except for Iran and Israel.
00:15:19.920 He's lying to the world when he's saying that many.
00:15:22.000 So here's my question, though, Pat.
00:15:23.220 If we own the skies, which we do, we've sank all their ships, all their navies, 0.95
00:15:27.920 why the hell are we who who is going to tell us what we can and we can't do there who who's 0.64
00:15:33.060 stopping us from doing exactly what the hell we want to do his military lloyd's what's the 0.58
00:15:37.860 what's that that the insurance so the insurance has said i won't insure you if you go through
00:15:42.560 this which is why trump had to say well we'll do bonded insurance through the united states of
00:15:46.920 america and yet and that it's nuisance it's it's it's nuisance bombs right they don't have a navy
00:15:54.600 Not Newsom.
00:15:55.820 Nuisance.
00:15:56.680 Newsom's not that smart to have that kind of a bond.
00:15:58.420 You're saying nuisance.
00:15:59.740 Go ahead.
00:16:00.380 You were making a point.
00:16:01.260 Although, if you've seen his hair, he's big in oil.
00:16:02.960 So, you've got all of the nuisance and the low-tech stuff, which is the drones.
00:16:12.000 And so, the drones can kill a sailor, and one did.
00:16:15.480 Drones can damage the ship.
00:16:17.580 One did.
00:16:18.640 But it's not like a torpedo going to sink the ship.
00:16:21.280 They were concerned about mines, and then they're concerned about all these little drones flying around.
00:16:26.620 That's the question.
00:16:28.160 And so Lloyds says, all right, you're not insured, and everybody has to stop.
00:16:32.980 We're not going to drive through this.
00:16:33.900 So Lloyds of London, Pat, do you disagree?
00:16:36.560 Lloyds of London closed the Straits of Hormuz based on the threats of drones and these things that could cause claims.
00:16:44.180 Because there wasn't like a big Navy out there sinking tankers.
00:16:47.740 Yeah, but that's their job.
00:16:49.320 The actuaries are sitting there having meetings and saying, hey, guys, it's a lot of risk for us to protect these guys.
00:16:54.040 We've got to figure out where to drop the insurance on these guys.
00:16:56.460 Yeah, well, if you look at it right now, the Strait of Hormuz is closed.
00:17:00.720 So the actuaries and the insurance people are one component for sure.
00:17:06.740 But what about the distributors?
00:17:08.540 Like the ships have a say.
00:17:10.360 There was a great interview expose on 60 Minutes over the weekend where they dealt with a major German shipping company and they interviewed this woman.
00:17:20.760 I don't know. I think this might be her right here. Looks just like her. 0.87
00:17:23.600 And she's like, well, why aren't you moving your ships?
00:17:27.380 She's like, for fear of my sailors getting killed.
00:17:31.300 And he goes, well, what happens if Trump increases the insurance?
00:17:35.180 she's like well that's great but you can't put a price on my sailors lives so she basically said
00:17:43.420 i mean there's there's tons of graphs of this they show like there's tons of moving in straight
00:17:48.540 of hormones tons of moving people coming and going there's this choke point and now it's
00:17:52.060 basically at a standstill it's like a parking lot so if you ever been on 995 in a parking lot
00:17:57.620 it's not good you know and especially if your driver doesn't want to uh drive so these guys
00:18:03.640 have made the decision that they don't want to pass through the Strait of Hormuz for fear of what
00:18:10.200 Iran will do. And you know what, Pat? You know what it ultimately comes down to? 1.00
00:18:14.140 We're talking about America. We're talking about Israel. We're talking about alliances.
00:18:18.660 The Middle Eastern Gulf states, they need to step the hell up. What do I mean? We talk about 0.98
00:18:24.940 having a future looks bright, future looks bright, future looks bright. There's so much
00:18:29.840 brightness and there's so much possibility in the middle east you have mbs in in saudi saying what
00:18:37.780 he feels and and using a directive in that you have dubai you have the uae doing amazing things
00:18:44.040 you have these gulf states that are rich in oil guys at the end of the day this is going to be on
00:18:50.100 you you realize that you have a nuisance not a newsome a nuisance of a neighbor and he's basically
00:18:55.900 getting cornered and he's basically bombing you so what are you going to do about it you can't
00:19:01.960 always rely on the united states or even israel to take care of your mess ultimately this is the 0.69
00:19:07.780 middle eastern country's mess to clean up what would you like to see him do because you have 1.00
00:19:11.840 qatar oman and uae and bahrain those are the four that have really suffered sure and yet they've
00:19:19.120 they've called out to saudi and saying hey can we have a hand here we don't have your armies we
00:19:24.020 don't have your air force we don't have more than than than border navies you know we have basic
00:19:29.720 things and they called out the saudi can you get the neighbors to turn it down a bit so when you
00:19:34.900 say step up they've been pretty vocal almost breaking ranks a little bit what more do you
00:19:39.360 want to see these gulf states so you can talk the talk but are you willing to walk the walk vocal
00:19:43.740 you know forgive me that that's not enough so follow the money at the end of the day
00:19:50.840 Most countries, which Iran does not want, most countries want peace and prosperity.
00:19:56.480 Are you willing to say that Saudi wants peace and prosperity?
00:19:59.600 I am.
00:20:00.380 Are you willing to say that UAE wants peace and prosperity?
00:20:03.160 I am.
00:20:04.180 Do the NATO countries want that?
00:20:06.520 Does Israel want that? 0.94
00:20:07.400 Do the United States want that?
00:20:08.680 Yes, yes, yes.
00:20:09.740 Does Iran want that? 0.73
00:20:11.340 I don't think so.
00:20:12.520 If you look at their actions or their rhetoric or what they do.
00:20:15.300 You're asking for step up, and I'm like, I'm all on.
00:20:19.980 Being vocal, what else can they do?
00:20:22.400 Oman doesn't have 30 F-35s.
00:20:25.020 I'm not asking them to fight.
00:20:26.060 The Saudis do. 0.95
00:20:26.400 We gave them to them.
00:20:26.920 But at the end of the day, this is going to affect their bottom line more than even America's.
00:20:30.680 Because if we're talking about the Strait of Hormuz, which nobody could—
00:20:33.040 You still haven't answered this question.
00:20:34.200 What do you want them to do?
00:20:35.300 So it comes down to economics.
00:20:37.700 So they're going to need to put pressure on Iran, whether it's from the top down, 0.95
00:20:42.160 whether it's monarchies or autocrats, or from the bottom up,
00:20:45.200 and have their citizens understand what it's like to feel the pain from Iran.
00:20:49.480 At the end of the day, Iran is isolated.
00:20:51.780 They have very few friends, and we're stepping on their neck.
00:20:55.420 And what are we going to do, let them off the hook?
00:20:57.780 Who does the Strait of Hormuz affect more, Asian countries or NATO allies in the U.S.?
00:21:04.560 Well, it's Asian countries. 0.78
00:21:06.500 Who gets their oil from the Strait of Hormuz?
00:21:08.580 China, India, Korea, Japan.
00:21:11.040 At the end of the day, they're going to have to put pressure on their distributors,
00:21:15.720 these Middle Eastern countries that are shipping oil.
00:21:18.520 Follow the money, and if the money doesn't work,
00:21:21.400 then you're going to have to use some alternative measures.
00:21:23.800 But at the end of the day, the oil is the number one thing for those people.
00:21:27.860 Yeah, so by the way, the Strait of Hormuz currently is open.
00:21:32.460 Obviously, the risk you got to take, you got to take, but it's currently open.
00:21:36.520 Besson even said recently that it's open.
00:21:38.360 As of when?
00:21:39.340 Here, as of right now, it's open.
00:21:40.860 If you're right now, go check right now, Strait of Hormuz right now.
00:21:42.920 As the market's open.
00:21:43.700 It's open.
00:21:44.500 This is 11 minutes ago.
00:21:45.680 If you want to play this clip, Rob.
00:21:46.700 Well, let's pull that apart. So we are seeing more and more the fuel ships start to go through.
00:21:55.480 The Iranian ships have been getting out already, and we've let that happen to supply the rest of 1.00
00:22:01.980 the world. We've seen Indian ships go out now. So the Indians who rely very heavily on Gulf oil,
00:22:08.600 we believe some Chinese ships have gone out. So that should start ramping up 0.89
00:22:15.520 before there are any the flotillas or protective armadas in the Gulf. So we think that there will 0.87
00:22:26.320 be a natural opening that the Iranians are letting out. And for now, we're fine with that. 1.00
00:22:32.700 We want the world to be well supplied. The other thing that we did, we gave a 30-day waiver for
00:22:40.280 russian oil that was already on the water well the best normally doesn't speak like that i have
00:22:47.980 a request this is last 28 days 69 and a half 30 this is the last 28 days of you that watch this
00:22:56.640 are not subscribers okay can we ask you to just press that subscribe button if you can okay if
00:23:03.520 you can press that subscribe button and you know to subscribe to the podcast it'll mean a lot to
00:23:09.460 us because our audience, as we get bigger, we can get better guests, and we like to get to 10
00:23:13.980 million subscribers. So if you haven't yet subscribed, click on that subscribe button.
00:23:17.800 Many of you watch it regularly and still haven't subscribed. It may not mean a lot to you. It does
00:23:22.480 a lot to us. If you enjoy this video, you want to watch more videos like this, click here. And if
00:23:26.140 you want to watch the entire podcast, click here.