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Saudi Crown Prince well aware war with Iran could be devastating for the globe – RT’s Boom Bust Delisting Chinese firms from US stock markets ‘would be a very bad idea’ & will never happen, strategist tells Boom Bust
(about 3 hours later)
Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) has recently warned that oil prices could spike if the world does not join the kingdom’s push to isolate Iran. The two global superpowers, China and the United States, have moved into the next phase of their global struggle for economic supremacy – capital wars.
RT correspondent Alex Mihailovich tells Boom Bust that one thing the prince knows is that “in this case, war with Iran might be bad for business.” As part of the ongoing trade war, the Trump administration is reportedly considering delisting Chinese companies from US stock exchanges.
He reminds Boom Bust that while the initial 20 percent crude oil price spike after the attacks on Saudi oil facilities did not hold for long, it was the biggest price jump in history. The surge was bigger than that seen at the time of the Katrina/Rita hurricanes, the Libyan civil war, the Venezuelan strike, or the Iranian Revolution. RT’s Boom Bust is joined by Todd Horwitz of Bubba Trading to discuss the possibility of such a measure and if it could be a real threat for global markets.
MBS and Saudi Aramco are now “doing all right, everything jumped back into shape,” Mihailovich says, adding that the Prince knows that the war with Iran could be devastating, and not just for his own economy, which was hit by the oil price surge when the attacks happened. “In my opinion, that’s never going to happen,” says Horwitz, adding “They will never delist these companies because it just doesn’t make sense… I think that this is more a play… This would be a very bad idea.”
“This is massive for the globe, so he does not necessarily want to go to war because he knows that on the other side things might not look good for anyone.” Mihailovich says. Horwitz adds that he doesn’t believe the US could go back to not having international trade going on.
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