WEBVTT

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How is it that a country with 7 million people

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in it can absolutely scare the bejesus out of

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a 90 million population country with 100 times

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the land area? Well, that's what we just saw.

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There are 7 million Jews just over that live

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in Israel. If you count the entire population,

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because it's 21 % Arab, it's 9 million people.

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Iran has 90 million people, and they're shaking

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in their boots. It's absolutely amazing what...

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cultural and organizational differences can make.

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This is Tim Eneking and this is episode 51 of

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Art on a Limb. So suddenly Israel attacks seriously

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Iran for the first time, which has been threatened

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for a very long period of time. Iran sponsored

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Hezbollah, Iran sponsored Hamas. Israel has taken

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them out. And because it was easier than it expected,

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it's gone after Iran. So what has the rest of

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the world done? First of all, risk -on assets

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have just not been wiped out, but seriously hurt,

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3%, 4%, 5%, sometimes up to 10%. It's affected

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fiat markets, StratFi markets. It's affected

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crypto markets or digital assets. Everything

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has gone down. And you can see here where BTC

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went down because of that news, and then has

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been fighting its way back up. The two commodities

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that went up as a result of this, gold went up

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a little bit, and oil went up a lot, obviously

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because Karg Island, where 90 % of the oil from

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Iran goes through, could be easily attacked.

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It's a relatively small island, and Israel deliberately

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didn't touch it, not trying to drag down the

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world economy by attacking Iran. The other interesting

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thing is Israel has barely touched Istafan. Didn't

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touch it all in the first wave. Istafan is actually

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one of the ancient capitals of Persia, of Iran.

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And right now, it's the closest major city to

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where the largest nuclear fuel depot is. Israel

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attacked it in the second wave, but only laboratories.

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They haven't attacked the fuel itself. And when

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you think about it, the fuel is what you need

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to develop a nuclear weapon. So it's really an

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interesting choice that Israel has made. First,

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in the first wave, it attacked people because

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it didn't want to give anyone any warning. So

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it attacked apartments and various places where

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key personnel from its perspective lived. And

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had to do that all right away because otherwise

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everyone would hide. And now it's starting to

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attack the infrastructure. Bitcoin is still in

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never, never land as a haven. Every time you

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think it's going to turn into a haven, something

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like this happens. And it falls with all of the

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other risk on assets. And it's not a haven. You

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have gold going up a little bit and oil going

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up a lot. I have a feeling, though, if things

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turn out really badly in the Middle East, that

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then Bitcoin will seriously turn into a haven

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asset. And we've kind of seen that in the past.

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but it really is trying to make the transition

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from being just a normal risk on asset into a

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haven asset. There's no reason for it to be correlated.

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There's no reason for it not to be a haven, but

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the rest of the world doesn't really quite believe

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it. Again, this is Tim Edeking, and until next

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time, this is Out on a Limb.