Valuetainment - December 27, 2023


Global Shipping Crisis： Houthis Terror Attack on U.S. & Israel Causes Red Sea Trade Route Shutdown


Episode Stats

Length

9 minutes

Words per Minute

214.52907

Word Count

1,952

Sentence Count

156

Hate Speech Sentences

6


Summary


Transcript

00:00:00.000 So let's just say you're a U.S. president. You go to work and you're getting a report first thing in the morning,
00:00:03.700 whatever time you wake up, whether it's 7 a.m. you wake up or some presidents who wake up at 10 a.m.
00:00:07.500 and you get this report telling you, hey, president, shh, can you please wake up? Please, please wake up.
00:00:13.100 We got reports that our military bases have been attacked 78 times the last couple weeks.
00:00:18.320 Should we do anything about it?
00:00:19.700 Did you just kind of roll over the other side and do you say, what did they do to who?
00:00:23.800 To us, 78 times. That can be real.
00:00:26.240 Let me read it to you. Here's CBS to you.
00:00:28.780 Iran-backed militias in Iraq have claimed responsibility for dozens of attacks that targeted bases housing U.S. troops in Iraq and Syria
00:00:36.520 since Israel declared war on Hamas two months ago.
00:00:39.280 The U.S. military says attacks have been carried out against U.S. facilities over the past few weeks,
00:00:44.840 of which 37 were in Iraq and 41 in Syria, and the U.S. has done nothing about it.
00:00:49.460 So if you don't do anything about it, what are they going to say?
00:00:51.360 Keep attacking. They're not responding. They're okay.
00:00:53.520 And then all of a sudden we see video of this organization, Houthis,
00:00:56.980 and they're coming in on a helicopter, and they get on this ship called the Galaxy Leader,
00:01:01.620 and you're seeing this Houthi militia getting on there with guns, with weapons,
00:01:05.840 and then all of a sudden, boom, they take ownership of this ship,
00:01:08.460 and then they're dancing at the end.
00:01:09.960 Yeah, it's a great idea.
00:01:11.060 Who does this ship own to?
00:01:12.080 It was built in Poland.
00:01:13.220 It's a big ship.
00:01:14.320 Who owns it?
00:01:14.960 It's owned by Ray Shipping.
00:01:16.880 So what's Ray Shipping?
00:01:17.920 It's a company partly owned by Israeli businessman, Rami Ungar.
00:01:22.100 Okay, so they're attacking an Israeli-owned company, taking over the ship.
00:01:26.580 Why is it such a big deal?
00:01:27.540 Because we hear about Hamas.
00:01:28.760 We hear about Hezbollah.
00:01:29.680 But Houthis, I mean, we have to not worry about Houthis.
00:01:32.000 Well, Houthis is five times the size of Hamas.
00:01:34.140 Just so you know, they're bigger than Hezbollah.
00:01:35.780 They got a pretty good amount of budget.
00:01:37.240 And why are they targeting these ships in a Red Sea?
00:01:39.360 Because that's the way that goes to Suez Canal.
00:01:41.640 And by the way, 10% of oil in the world goes through there.
00:01:45.760 12% of all export goes through there.
00:01:48.440 30% of containers.
00:01:49.640 It's a trillion dollars of trade that goes through here.
00:01:53.600 And the Houthis have put the fear into everybody else.
00:01:56.720 And you know what they're saying?
00:01:57.540 This is the line of what their leader said.
00:02:00.620 Yusuf al-Muadani, one of their major generals, said,
00:02:03.460 any escalation in Gaza is an escalation in the Red Sea.
00:02:07.280 And any calm in Gaza is considered a calm in the Red Sea.
00:02:12.400 He continues, any country or party that comes between us and Palestine,
00:02:17.660 we will confront it.
00:02:19.980 By the way, their allies, North Korea, Iran, Syria.
00:02:23.720 Their enemies, Saudi Arabia, U.S., and Israel.
00:02:27.420 You see what's going on over here?
00:02:28.620 Now, having said that, not a lot of people are talking about this.
00:02:31.020 But there's a major consequence because a lot of companies are saying,
00:02:33.720 we're just not going through this here.
00:02:35.120 We're going to talk about all of that today.
00:02:36.800 Okay, so if you give value out of this video, give it a thumbs up and subscribe to the channel.
00:02:49.180 Let me give you a quick timeline on what's going on.
00:02:50.820 So remember how I talked about the galaxy leader that went through what it went through?
00:02:53.860 That was on November 20th when it was hijacked by heavily armed militias and Houthi-operated helicopters.
00:03:00.020 Then, afterwards, December 4th, U.S. National Security Advisor Jake Sullivan told reporters
00:03:04.060 that the U.S. is working to build a coalition with partner nations to provide protection
00:03:08.540 for global shipping in the region.
00:03:11.520 However, on December 16th, destroyer USS Kearney downed a total of 14 drones.
00:03:17.580 What?
00:03:18.220 Is U.S. officially at war?
00:03:20.740 If our destroyer is downing 14 drones, our military bases are being attacked.
00:03:26.460 We're not doing nothing about it.
00:03:27.540 How come no one's really talking a lot about this stuff right now?
00:03:30.340 Now, some people in the military are being proactive about this.
00:03:32.740 The U.S. Navy has positioned the aircraft carrier in the Gulf of Aden and three extra destroyers
00:03:37.520 in the Mediterranean.
00:03:38.660 The U.S. Navy deployment extended a third time to ensure continued coverage off Israel.
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00:04:42.440 So they're not going to send their ships through.
00:04:44.060 A lot of companies are saying, we're just not going through it right now.
00:04:46.420 It's too chaotic.
00:04:47.200 And here's some of the companies that have made that decision.
00:04:49.040 Number one, Denmark AP Molar Marisk on December 15th said it would pause all container shipments
00:04:53.740 through the Red Sea until further notice following a near-miss incident involving its vessel
00:04:58.420 Marisk Gibraltar a day earlier.
00:05:00.260 Now, MSC, Mediterranean Shipping Company, said on December 16th that ships would not
00:05:04.700 transit through the Suez Canal with some already rerouted via the Cape of Good Hope a day after
00:05:09.760 Houthi's forces fired two ballistic missiles at its MSC Palladium III vessel.
00:05:14.900 The decision will disrupt sailing schedules by several days, the Switzerland-based group
00:05:18.640 said.
00:05:19.020 The ship was targeted by a missile while traveling from Salah, Omen, to Jeddah, Saudi Arabia,
00:05:24.020 the company said.
00:05:24.700 Number three, CMA CGM, French company group, on December 16th said they are also
00:05:30.120 pausing all container shipments through the Red Sea.
00:05:32.760 So is Costco shipping, not the Costco shipping you're thinking about, but China's Costco on
00:05:36.720 December 18th.
00:05:37.620 They're the latest shipping giant to halt Red Sea route amid the attacks.
00:05:41.260 And then we have a few other ones here we can talk about.
00:05:43.180 We can talk about a German container, Hapagloid, as well as Evergreen, which I'm sure you've
00:05:47.500 heard about Evergreen before when they went through the issue.
00:05:50.000 Now, aside from those shipping companies, here's the oil companies that are saying we're just
00:05:53.080 pausing with the biggest one being BP.
00:05:54.860 They're not willing to take the risk.
00:05:56.000 On December 18th, they said they have temporarily paused all transits through the Red Sea.
00:06:00.060 Equinor, a Norwegian oil and gas firm on December 18th, said it had rerouted some vessels that
00:06:05.220 had been heading towards the Red Sea.
00:06:07.200 So has, Iranab, Belgium oil tanker firm, said on December 18th it would do the same.
00:06:11.740 So has Frontline.
00:06:12.760 Now, for some of you, in case maybe your geography is not your thing, you want to know where these
00:06:16.300 Houthis are, they're on the west side of Yemen.
00:06:18.720 If you look at this map, look where they are.
00:06:20.640 You'll notice Houthis are purple.
00:06:22.200 That's their military.
00:06:23.680 They're right on the border of Saudi Arabia.
00:06:26.240 And to the west of them is the Red Sea.
00:06:28.420 So any ship that pretty much wants to go through that route, you have to go through Houthis.
00:06:34.380 They will see you.
00:06:35.340 And if they want to target you, there's a risk that they can.
00:06:38.040 So what does this mean to some of these guys that are having to reroute the whole thing?
00:06:40.980 All it means is instead of going straight through the Suez Canal and doing the same work in
00:06:44.980 7,200 miles and less time and less risk, you have to go from Mumbai all the way up to London.
00:06:49.980 It's going to take you 12,300 miles, way more risk, way more choppy, way more potential
00:06:54.800 for damage to be taking place, more fuel, cost of pricing going up, shipping, everything.
00:06:59.860 And that gets passed down to who?
00:07:01.200 The consumer, you and I.
00:07:02.640 So there's a lot of elements to this.
00:07:04.100 One of the elements to this, I want to show you some data for you to take a look at.
00:07:06.880 When you're small and you're going up against the enemy that's formidable and big, the way
00:07:10.660 you annoy them is by hurt them in a place that maybe is the only thing you have.
00:07:15.160 And in this situation, Houthis, West, Red Sea, you want to go through here?
00:07:19.840 You need us.
00:07:20.780 If you don't stop the war in Gaza and Palestine and leave them alone, Israel, we're going to
00:07:25.300 hurt America.
00:07:26.240 We're going to hurt everybody.
00:07:27.440 We're going to hurt 10, 12% of the global trade that's going through here.
00:07:30.600 That's what they're doing.
00:07:31.420 By the way, if you go through the history of what happened to the world GDP, I want you
00:07:35.040 to look at two things here.
00:07:35.980 Here's what's happened to the world GDP over the last 500, 600 years.
00:07:40.020 Take a look at this from 1500 to 2015.
00:07:42.120 Notice that sudden spike in 1950.
00:07:45.760 What does this show?
00:07:46.920 This is us working together.
00:07:48.980 And look how that matches with this other data from growth of global export.
00:07:54.120 Look at 1950.
00:07:55.320 It's really not a big climb from 1900 to 1950.
00:07:58.520 All of a sudden, boom, off to the races.
00:08:01.080 So global exports equals increasing the world GDP, world GDP increasing more money for you,
00:08:07.440 more salaries.
00:08:08.420 People make more money, less stress, less chaos.
00:08:10.800 The less money they make, the more chaos.
00:08:12.660 So they're trying to cause everybody to have some kind of pain.
00:08:15.680 Now, here's the thing.
00:08:16.360 I definitely want to see our military be a little bit stronger in the way our president
00:08:19.620 could attack to silence them and put the fears in that we're not really doing that.
00:08:22.980 They have access to information I don't have.
00:08:24.620 Maybe I would take a different approach than the current administration is.
00:08:27.220 But I'm not the president.
00:08:28.240 I'm creating content.
00:08:29.520 However, at the same time, this could be a month thing.
00:08:32.320 This could be a two month thing.
00:08:34.280 Nobody thought Afghanistan was going to be a two decade thing.
00:08:36.900 And nobody thought Russia, Ukraine was going to be a couple year thing that it's turned into.
00:08:41.460 If this thing ends in the next week, two weeks, couple months, that's good.
00:08:45.060 If it doesn't, you're going to feel the chaos economically coming to a city near you
00:08:50.540 because this is going to affect the pockets of somebody and it'll be passed down to you.
00:08:54.640 If you got value out of this video, give it a thumbs up and subscribe to the channel.
00:08:57.680 If you've never seen the power of a canal, go watch this video on Panama Canal.
00:09:01.200 You'll realize how necessary these canals are.
00:09:04.580 Take care, everybody. Bye-bye, bye-bye.