USA Watchdog, Released on 5/10/26

“I don’t think people appreciate what is there. UAE became more or less Switzerland after the Swiss confiscated money from Russians. They said you knew Putin, so we are just taking all your money. . .. The money started to move to Dubai and Singapore. That’s why the Iranians attacked there. We have offices there. Everybody is there. . .. They damaged this short term, and I can tell you the banking system went down for a week. We could not even send money to our staff to get them the hell out. . .. (This is one of the reasons gold sold off. Armstrong told me that people needed liquidity.) All the cables that connect the banking system from the East to the West run through the Strait of Hormuz. . .. People look at the Middle East and think they are flush with cash. They have no idea they are in a debt crisis. Iran understands this–attacking the refineries and the infrastructure of the Gulf States. What happens? You cut off their ability to sell oil. That creates a debt crisis. . .. Iran bombed UAE more than Israel. Washington does not grasp this. I have yelled at them, and I think it goes in one ear and out the other. This is much more serious, and if they succeed in creating a debt crisis, that will filter into the banks. Then the banks start getting into trouble. This does more than send oil up and put pressure economically on Europe and the United States. This is the key to a banking crisis.”

Martin Armstrong is a world renown economist and the creator of the Economic Confidence Model. He is the founder of Armstrong Economics – a public service and blog for the average person to comprehend the global economy and for professionals to access the most sophisticated international analysis possible.

  financial meltdown, gold, investing, iran war, silver, uae