When Goldman Speaks
By Contributing Editor Doug Hornig
Should we really listen to what Goldman Sachs says? My friend and Paydirt editor Doug Hornig has an insight you might find interesting—and potentially useful as an investor.
The World is a Dangerous Place
I’m writing several days after Israel launched a massive air attack on Iran, with the intent of preventing that nation from developing nuclear weapons.
Obviously, this shakes up global markets.
Crude moved higher, since there is concern that Iran might attack tankers in the Strait of Hormuz, or close that waterway with some combination of mines, drones and surface suicide vessels. About 20 million barrels of oil a day pass through the Strait—nearly one fifth of global shipments. But the rise has been only about 10%.
Stock prices initially slid lower, though not dramatically, and have recovered much of the lost ground. The gold price jumped, as we would expect, edging toward $3500/oz., but it too has since pulled back.
Uncertainty reigns. The world wonders whether this new war will expand, and by how much. Will the U.S. get drawn in and become a more active player? If Iran attacks any American bases in the Middle East, that’s a
…
