Black Rain Falls on Tehran After US-Israeli Strikes Blow Up Oil Infrastructure

EUR Drops As ECB Hikes Rates (As Expected); Raises Inflation Outlook, Sees Downside Growth Risks The European Central Bank increased interest rates for the second time since the Iran war broke out in February, responding to signs inflation is set to stay well above 2%. The deposit rate was lifted by a quarter-point to 2.5% on Thursday, as predicted by almost all economists in a Bloomberg survey. “The conflict in the Middle East continues to generate inflation pressures, and inflation is set to remain well above target for an extended period,” it...

The US Should Exit The UN Authored by Wendy McElroy via The Brownstone Institute, The future of the United Nations (UN) is in play, largely because of its refusal to censure Iran—a member nation. In May, Secretary of State Marco Rubio reprimanded the UN: “If you’re telling me that the international community and hundreds of countries cannot rally behind that, then I don’t know what the utility of the UN system is.”  Severing all ties to the UN could require an act of Congress, but the US is moving in this direction. On February...

Trump Rejects Iran Offer, Prepares 'Short Wave' Strikes, As Oil Prices Soar & Congressional GOP Members 'Restless' Summary CENTCOM reportedly preparing for "short wave of strikes" on Iran in order to potentially break the Hormuz impasse & force Tehran back to the negotiating table. Trump rejects Iran proposal as it won't give up nuclear program. Trump recently met this week with oil and gas executives at the White House to address energy fallout, and as oil pushes higher: Axios. Trump warns Iran to "get their act together" and to "get smart" - and for...