Valuetainment - December 27, 2023


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

Hosted by
Patrick Bet-David
Mentioned
Houthis Ray Shipping Jake Sullivan Rami Ungar Iranab
Gene Editing： How CRISPR Will Change EVERYTHING & Create Designer Babies Why Governments Fear Religion - Where Does Morality Come From？

Episode Stats


Length

9 minutes

Words per minute

214.53

Word count

1,952

Sentence count

161

Harmful content

Hate speech

6

sentences flagged


Summary

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

The United States military bases have been attacked 78 times in the past couple weeks. Iran-backed militias in Iraq have claimed responsibility for dozens of attacks that targeted bases housing U.S. troops in Iraq and Syria since Israel declared war on Hamas two months ago.

Transcript

Transcript generated with Whisper (turbo).
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
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. 0.85
00:01:28.760 We hear about Hezbollah.
00:01:29.680 But Houthis, I mean, we have to not worry about Houthis. 1.00
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. 0.84
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. 0.94
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. 1.00
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 0.98
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.