Dr Jos. P. Farrell:
And here we are: American covert operations have kidnapped former Venezuelan President Maduro, the American government is openly promoting the secession of a province of a significant ally (Alberta), and attempting yet another "regime change" operation in the Middle East. Such operations we might call "MOOs", not because of their bovine nature, but because they are "Multiple Objective Operations", and this one certainly seems to have more than just the objective of toppling the Islamist regime of Iran.
Another of those objectives appears to be a power play to wrest a major chunk of the world's international insurance market away from London, and its celebrated Lloyd's insurance. Lloyd's is, after all, by the best estimates, the single corporate source for a major percentage of the world's insurance underwriting of international cargo shipping. But by shutting down the Straits of Hormuz and torpedoing Iranian warships, the risk to Lloyd's and other underwriters to insure shipping through the Straits, through which much of the world's oil ships, has become too much, even for the insurance goliaths of the City of London.
On March 6, just a few days ago, Mr. Trump indicated that the US government itself would step in to fill the void left by the flight of corporate underwriters for the oil flows through the Hormuz Straits(our thanks to S.D. and many others for sharing this story):
What to know about the agency Trump says will insure ships in the Persian Gulf
Note the following:
The Trump administration has tapped the U.S. International Development Finance Corporation, or DFC, for the job, with the president noting on Truth Social that the agency will provide political risk insurance to "all shipping lines."
And there is an added bonus that no corporate insurer can provide (at least, not as far as we know, though one has to wonder about some corporations!):
Mr. Trump also said the U.S. Navy would escort tankers through the Strait of Hormuz, a key artery for global oil shipments, if necessary.
The decision comes as other global insurers have backed away from underwriting maritime trade activity in the Gulf amid concerns that vessels could become collateral damage in the Iran war. Insurers such as NorthStandard, the London P&I Club, and the American Club have issued notices in recent days that they are suspending insurance for ships traveling through Iranian waters and the Gulf due to escalating risks from the war. (Emphasis added)
And here we are: American covert operations have kidnapped former Venezuelan President Maduro, the American government is openly promoting the secession of a province of a significant ally (Alberta), and attempting yet another "regime change" operation in the Middle East. Such operations we might call "MOOs", not because of their bovine nature, but because they are "Multiple Objective Operations", and this one certainly seems to have more than just the objective of toppling the Islamist regime of Iran.
Another of those objectives appears to be a power play to wrest a major chunk of the world's international insurance market away from London, and its celebrated Lloyd's insurance. Lloyd's is, after all, by the best estimates, the single corporate source for a major percentage of the world's insurance underwriting of international cargo shipping. But by shutting down the Straits of Hormuz and torpedoing Iranian warships, the risk to Lloyd's and other underwriters to insure shipping through the Straits, through which much of the world's oil ships, has become too much, even for the insurance goliaths of the City of London.
On March 6, just a few days ago, Mr. Trump indicated that the US government itself would step in to fill the void left by the flight of corporate underwriters for the oil flows through the Hormuz Straits(our thanks to S.D. and many others for sharing this story):
What to know about the agency Trump says will insure ships in the Persian Gulf
Note the following:
The Trump administration has tapped the U.S. International Development Finance Corporation, or DFC, for the job, with the president noting on Truth Social that the agency will provide political risk insurance to "all shipping lines."
And there is an added bonus that no corporate insurer can provide (at least, not as far as we know, though one has to wonder about some corporations!):
Mr. Trump also said the U.S. Navy would escort tankers through the Strait of Hormuz, a key artery for global oil shipments, if necessary.
The decision comes as other global insurers have backed away from underwriting maritime trade activity in the Gulf amid concerns that vessels could become collateral damage in the Iran war. Insurers such as NorthStandard, the London P&I Club, and the American Club have issued notices in recent days that they are suspending insurance for ships traveling through Iranian waters and the Gulf due to escalating risks from the war. (Emphasis added)