Much of what students are taught about banks differs from how modern banks operate in practice. The standard textbook model has banks collecting savers’ deposits and lending them out. In practice, the sequence follows the opposite direction. 🔗👇

Oil is moving out of the Gulf again, but the arrangements supporting it have not resolved the conflict that interrupted the trade in the first place. 🔗👇

How do banks work? A training video on understand commercial banks. 🔗👇

More oil getting through Hormuz, but how much of June’s "Cliff" does that actually erase? 🔗👇

In other words, over the past 15 years you have become increasingly uninformed and more gullible to accept propaganda.

“Economic D-Day” lets Washington claim escalation without paying the immediate price of any of those choices while deferring, yet again, the unavoidable decision of how to conclude the conflict on acceptable terms. 🔗👇

The state of affairs in relation to Iran, the US, the Gulf and oil is appropriately reminiscent of that classic military phrase – not FUBAR, although that works too, but instead, “hurry up and wait”. Everything is happening and nothing is happening at the same time. 🔗👇