Saagar

The Iranians trying to make sure that the entire region survives.

feels the pain in order to demonstrate what we laid out very early on in our show, is that for them, they believe that this is the big one they need to try and establish some sort of credible deterrence or go down fighting.

And so far, they don't yet seem to be deterred.

Current U.S.

reporting is claiming that approximately half of Iranian ballistic missile launch sites have been destroyed.

Now, of course, that's from the United States and from Israel.

So we don't know what the true number of that is.

But of course, that still means that some 50 percent are still active.

And you have ballistic missiles and interceptors which are all flying through the air in the Middle East over U.S.

bases in Riyadh, by the way, also in Saudi Arabia.

So this is, I mean, absolutely insane now so far.

Zooming out a little bit for the major geopolitical situation, what everybody always had their eyes on with a potential Iranian conflict is the Straits of Hormuz.

And right now, there are some very troubling reports now coming out of the Straits of Hormuz.

There was initial reporting that Iran had been going over VHF radio.

to many of the ships in the Gulf telling them that the Straits of Hormuz are closed.

There were a few ships that were able to transit.

I believe that they were Chinese flagged carriers.

However, we do know this from the West, from the Financial Times.

Insurers are going to cancel policies and raise prices for ships in the Gulf and the Straits of Hormuz.

Brokers say that the cost of coverage will increase by as much as 50% after the conflict has erupted.