Baltic
Dry Index. 2056 +01 Brent Crude 112.19
Spot
Gold 4492 Spot Silver 67.81
U
S 2 Year Yield 3.88 +0.09
US
Federal Debt. 39.016 trillion
US
GDP 31.255 trillion
Few policies are more calculated to destroy the existing basis
of a free society than the debauching of its currency. And few tasks, if any,
are more important to the champion of freedom than creation of a sound monetary
system.
Hans F. Sennholz
Going
down. How did the Israeli-USA Trump bear market start, slowly then suddenly.
As
the increasingly unhinged Trump calls his NATO allies “COWARDS” for not bailing
him out of his foolish arbitrary war in
the Persian Gulf, the US and global economy is now starting to crash.
How
long before global unemployment seriously rises, the velocity of money stalls,
private credit crashes, my guess is just another seven to ten days unless Caesar declares victory, ends the war and opens up
the Strait of Hormuz.
The
likelihood of that happening in my opinion, less than ten percent.
In
my other ninety percent, Trump’s Great Global Depression 2.0.
Hoping
to be very wrong, dinosaur Graeme.
Stocks
tumble Friday as losses mount from Iran war impact, Dow and Nasdaq near
correction: Live updates
Updated
Fri, Mar 20 2026 4:32 PM EDT
Stocks
tumbled in volatile trading Friday as the U.S.-Israel conflict with Iran showed
no sign of abating and oil prices continued their ascent.
The Dow Jones Industrial average shed
443.96 points, or 0.96%, ending at 45,577.47. The S&P 500 fell 1.51% and
closed at 6,506.48, while the Nasdaq
Composite lost 2.01% and settled at 21,647.61. The small-cap Russell 2000 declined more
than 2% and slipped into correction
territory — that is, a 10% decline from its latest high. At their lows
of the day, the Dow and Nasdaq traded in correction territory, but ultimately
closed shy of the 10% threshold.
The
moves come after Iran and Israel exchanged strikes overnight, while the former
also launched new attacks against energy sites in the Persian Gulf
region. The Wall Street Journal reported, citing U.S. officials,
that the Pentagon is sending thousands of additional Marines to the Middle
East. CBS News said “heavy preparations” were being made for sending
ground troops to Iran, citing multiple sources.
The
selling ramped up in the afternoon, after Reuters reported that Iraq has declared
force majeure on all oilfields operated by foreign companies. This
caused oil prices to climb, with Brent crude topping $113 a barrel at its high
of the day and WTI oil trading over $98 a barrel.
“If
this is an escalation involving troops on the ground, then we’re probably in
for at least a couple more weeks of this sort of market of higher oil prices,
high gas prices; you’re hanging on every headline about energy infrastructure
in the region,” Baird investment strategist Ross Mayfield said to CNBC. “Quite
frankly, equity markets haven’t sold off in a way that would reflect this sort
of event yet, so there could still be some some downside ahead.”
Meanwhile,
fears that inflation is reigniting and that rate cuts from the Federal Reserve
are off the table pushed Treasury yields higher on Friday, further contributing
to the stock market’s weakness.
The
major averages posted their fourth losing week in a row. The S&P 500 has
held up better than the other benchmarks, down just 7% from its recent high.
“It’s
not unusual in the environment we’re in, with the amount of uncertainty we
have, to have a 10% correction in any index,” said B. Riley’s Art Hogan. “So,
to the extent that the S&P is broader and more diverse, it’s probably going
to be the last to fall. But it’s also indicative of the fact that we’re in a
very uncertain time.”
The
selling was broad on Friday with tech leaders of the bull market seeing the
biggest losses. Nvidia and Tesla lost 3% apiece. Few sectors were safe as
rising yields also hit normally staid utilities.
Stock
market today: Live updates
Three
Weeks of War in the Middle East
March
20, 2026 at 9:49 PM GMT
Three
weeks after the US and Israel launched a surprise attack on Iran amid ongoing
negotiations over its nuclear program, President Donald Trump has found himself
in a situation very
different from his earlier effort at regime change.
With
thousands dead, a widening war, spiking
oil prices and now destroyed energy infrastructure, he is seeking
$200 billion from Congress to continue a conflict which Democrats and some
Republicans are quick to note was one of choice, since there is no public
evidence the US faced
an imminent threat. The funding request also comes as the US
surpasses $39 trillion in debt, with the latest $1 trillion added in
the past five months.
Trump
has nevertheless pledged to continue attacking, and left open the possibility
of ground forces. (Late Friday, he said almost
the opposite in a new turnabout.) But with none of his various stated
goals reached—denuclearization, total defeat of Iran’s military or a popular
uprising against a regime that’s killed
thousands of its citizens in recent months—Trump and Prime
Minister Benjamin Netanyahu are left with an energy crisis, and one that appears
to be getting worse. Iran, as it turns out, is
not Venezuela. —David
E. Rovella
Three
Weeks of War in the Middle East: Evening Briefing Americas - Bloomberg
War’s
Second Order Effects Are Starting to Slam the Economy
March
20, 2026 at 5:02 PM GMT
Almost
three weeks into the war on Iran, markets are starting to price in the second
order effects of entropy spreading through the world’s energy system.
Investors have been underestimating
the commodity shock rippling through the economy. Now, some
are forecasting a
stock rout.
Take the knock-on effects from rising diesel fuel prices. Some truckers tell us
they’re already adding a 5% transport surcharge
to deliver consumer goods. That kind of inflationary activity has central
bankers on edge and bond traders already forecasting a higher
price on debt later in the year. It also raises the possibility
of stagflation, as energy demand collides with physical
shortages of feedstock and fuel.
To
be sure, policy makers are trying to react. We’re told Italy is
attempting to purchase more natural
gas from Algeria. Spain approved a €5 billion ($5.8
billion) aid
package to ease the economic effects of the war. Refineries are paying
huge premiums so they can continue making critical products
like fertilizer.
US
President Donald Trump thought he could fight wars without becoming
trapped by them, writes
Becca Wasser in our Weekend Essay. Frustration with this
situation boiled over today when Trump called his NATO
allies “COWARDS’ in a social media post. As Iran continues to fight
back, prolonging the conflict by lashing
out against Gulf Arab states, the US president is learning the old Prussian
military maxim: “No plan survives first contact with the enemy.” --Jonathan
Tirone
War’s
Second Order Effects Are Starting to Slam the Economy - Bloomberg
Iran's
blockade shakes global markets with $1 trillion supply shock
20
March 2026
The
Strait of Hormuz is one of the world's most important waterways, and a critical
chokepoint for the world's energy supply. But three weeks since war engulfed
the Middle East, the battered Iranian regime still maintains its iron grip on
this 24–mile–wide maritime corridor. Now, a group of Austrian researchers have
revealed how the closure of the Strait of Hormuz could devastate global supply
chains. According to their simulations, exports worth up to $1.2trillion
(£893.5billion) could be affected if Iran keeps the Strait closed for an
extended period. While short disruptions of around two weeks would have limited
consequences, blockages longer than four weeks could trigger 'cascading
issues'.
----The
Energy Artery Severed
The
study focused on five Gulf countries – Iran, UAE, Qatar, Kuwait and Bahrain –
that ship entirely through the Strait. Using a simulation, the researchers
modelled how a blockage would affect 10,000 tankers travelling between 1,315
ports around the world. Co–author Dr Jasper Verschuur, of Delft University of
Technology, told the Daily Mail: 'What is unique about the Strait is that there
are no alternatives to reroute goods. 'This makes it distinct from other
strategic maritime passages like Suez, Malacca and Taiwan that
"handle" large volumes, but have rerouting alternatives.' Currently,
about 20 per cent of the world's oil is shipped through this narrow gap, making
it the 'energy artery' for many countries. However, after Israel and the US began
their aerial bombardment, Iran has brought this traffic to a standstill.
Iran's
blockade shakes global markets with $1 trillion supply shock
Days
after the assassination of Supreme Leader Ali Khamenei on February 28, Iran
declared control of the Strait, trapping hundreds of ships in the Gulf. Since
the start of the war, only a handful of vessels have managed to slip through,
with at least 16 ships coming under attack, according to the UK Maritime Trade
Organisation (UKMTO). This has already triggered spiking oil prices and sent
shockwaves through the global economy, but the researchers warn that the
situation could get worse. Dr Verschuur says that their modelling had pointed
to the risk of a closure, but they 'certainly did not expect something so
quickly and escalating as we see now'. The longer that Iran keeps the Strait
closed, the deeper and more complex the disruption to supply chains will
become.
More
Iran's blockade
shakes global markets with $1 trillion supply shock
The
Strait of Hormuz must be opened in days, not weeks, to avoid global recession
risks – BofA head of research
Mar
19, 2026, 11:25 AM ET
The
current Middle East conflict could escalate rapidly, potentially driving oil
prices (CO1:COM), (CL1:COM) above $200 per
barrel if disruptions persist for multiple months, according to Francisco
Blanch, head of Commodities and Derivatives Research at Bank of America Global
Research.
In
an interview with CNBC, Blanch emphasized that high energy prices and supply
disruptions are creating significant risks of a global recession, with current
estimates showing an eight-percentage-point gap in global energy supplies.
Blanch
identified two critical factors that must be addressed to prevent a global
economic downturn: protecting critical energy infrastructure from further
strikes and immediately reopening the Strait of Hormuz.
“When
I say quickly, I mean days, not weeks or months,” Blanch said, underscoring the
urgency of the situation. He noted that roughly one percentage point of energy
is needed for every percentage point of global GDP, making the current supply
gap particularly alarming.
The
analyst explained that soaring commodity prices are essentially forcing what he
called “demand destruction” across the global economy.
“Demand
destruction is essentially another term for economic activity contraction or
recession, whichever way you want to call it,” Blanch stated.
Prices,
he said, are serving as a signal to effectively force people and businesses out
of their normal consumption patterns.
The
crisis is already triggering widespread industrial and agricultural fallouts
beyond the oil markets. Blanch pointed to factories in Asia shutting down on
the petrochemical front, the Philippines moving to a four-day work week, and
Thailand instructing workers to stay home, while overnight strikes at a GTL
plant connected to fertilizer production are putting additional pressure on
agriculture. Aluminum (SPGSIA), the most energy-intensive metal,
is particularly vulnerable to the energy price surge.
While
the U.S. is somewhat more insulated as a net energy exporter, Blanch cautioned
that the situation remains “frail” for American consumers. Dubai crude has
already spiked to $170 per barrel, and Japanese natural gas has reached $26 per
MMBtu, though domestic measures like waiving the Jones Act are being
implemented to mitigate impacts on U.S. consumers.
Blanch’s
baseline scenario assumes a relatively quick resolution to the conflict, but he
warned that a prolonged crisis would push prices even higher.
“We
can see prices spiking over $200 a barrel as soon as the market believes that
this can be a multi-month operation,” he said, adding that without the return
of disrupted supplies, very high prices will be necessary to continue rationing
global demand.
Saudi
Arabia Sees a Spike to $180 Oil if Energy Shock Persists Past April
Prices
at such a level could trigger a recession or consumer changes that crush demand
March
19, 2026 9:00 pm ET
Saudi
Arabia’s oil officials are working frantically to project how high oil prices
might go if the Iran war and its disruption
of energy supplies doesn’t
end soon—and they don’t like what they are seeing.
The
base case, several oil officials in the Gulf’s biggest producer said, is that
prices could soar past $180 a barrel if the disruptions persist until late
April.
While
that would sound like a bonanza for a kingdom still heavily leveraged to oil
revenue, it is deeply concerning. Prices that high could push consumers into
habits that slash their oil use—potentially for the long term—or trigger a
recession that also hurts demand. They also would risk casting Saudi Arabia in
the role of profiteer in a war it didn’t start.
“Saudi
Arabia generally does not like too-rapid increases in oil, because that then
creates long-term market instability,” said Umer Karim, an analyst of Saudi
foreign policy and geopolitics with the King Faisal Center for Research and
Islamic Studies. “For Saudis, the ideal equation is a relatively modest
increase in prices while their market share remains stable.”
Saudi
Aramco, the country’s national oil company, which handles production, sales and
pricing, declined to comment.
This
week’s strikes targeting energy facilities have
pushed oil prices higher. In retaliation for an Israeli strike Wednesday on
Iran’s South
Pars gas field,
Tehran hit facilities in Qatar’s Ras Laffan energy hub and attacked other Gulf
infrastructure including Saudi facilities at Yanbu, the Red Sea end of a
pipeline that can take crude around the chokepoint
in the Strait of Hormuz.
Iran
also continued to hit ships in the Gulf, extending a string of attacks that
have all but shut the strait, the narrow conduit for 20% of the world’s oil
shipments.
Attacks
sent benchmark Brent futures as high as $119 a barrel before easing back
Thursday. The contract’s all-time high, reached in July 2008, was
$146.08.
“$200
a barrel is not outside the realms of possibility in 2026,” analysts at energy
consulting firm Wood Mackenzie said.
Gulf
futures tied to Oman crude, which are less liquid but which quickly reflect
local supply disruptions, shot past $166 a barrel. Oman is a benchmark for much
of the oil sold by Middle East producers such as Saudi Arabia, with tankers of
physical crude priced at a fixed spread to the benchmark, which floats up and
down each day with the market.
More
Exclusive | Saudi
Arabia Sees a Spike to $180 Oil if Energy Shock Persists Past April - WSJ
This
is an energy emergency: entire countries may run out of oil
The
optimistic view is that Trump will chicken out and leave the Gulf to put out
the fire that he has ignited
Ambrose
Evans-Pritchard Published 19 March 2026 6:11pm GMT
It
is hard to decide which is the bigger disaster: the unfolding car crash in the
global gas market or the mounting danger that entire countries will run out of
oil.
The
benchmark TTF contract for gas in Europe was €29 (£25) per megawatt-hour (MWh)
in mid-February. Bank of America says it could reach €500 this winter if the
Strait of Hormuz remains closed for 10 weeks, as it may well do.
That
would blow through the record high seen after Russia’s invasion of Ukraine and
amount to a full-blown economic emergency for Europe, the UK, Japan, South
Korea and South Asia.
The
picture is dramatically worse after Israel attacked Iran’s South Pars gas
field, adding upstream gas and oil infrastructure to the menu of targets on
both sides of the Gulf.
Iran’s missile
retaliation on Qatar’s Ras Laffan has inflicted serious damage to the
giant complex, which alone produces a fifth of the world’s liquefied natural
gas (LNG).
It
will be months before shipments start again. Qatar Energy says 17pc of
production is lost for three to five years. It will have to declare force
majeure on LNG supplies to Italy, Korea, China and Belgium.
It
is just as bad for oil. The paper market that we all follow does not capture
the drama. Physical deliveries are under far greater stress than Brent futures,
at about $113, would suggest.
Actual
barrels of the Dubai basket and Oman’s Murban are fetching close to $170 a
barrel as Asian refiners scramble to buy anything they can. Jet fuel deliveries
have hit $210 in Rotterdam and $240 in Singapore.
Kurt
Barrow, the vice-president of oil at S&P Global Energy, says it may become
physically impossible to obtain supplies. “If the Strait stays closed for two
months, you’ll have plants without feedstock and we’ll get real rationing.
We’ll have panic buying and hoarding,” he said.
More
This is an
energy emergency: entire countries may run out of oil
'I
predicted the 2008 financial crash - something worse could be coming'
20
March 2026
The 2008
financial crisis was
among the most catastrophic and wide-reaching economic calamities in living
memory. Sparked in early 2007 by irresponsible lending in the US housing
market, it spread globally, intensifying an already severe recession and
forcing government bailouts of financial institutions worldwide. Now former
hedge fund employee Richard Bookstaber - who authored A Demon of Our Own
Design, which forecast the impending crash in 2007 - suggests something
more severe may be looming.
"We
have returned to a period of risk," he writes in the New York Times,
"one rife with the sort of pressures that have led to major financial
crises. This time, the risks are spread across industries, markets and nations:
artificial intelligence, the roughly $2 trillion private credit industry, stock
markets, Taiwan and now Iran." Richard highlights that many of the
borrowers underpinning the lending sector are software and technology firms -
precisely the types of businesses, he argues, whose services could soon be
superseded by AI.
The
ongoing conflict in the Middle East, coupled with a long-threatened
confrontation between the US and China in the South China Sea, will only
further destabilise these sectors, he cautions.
"Take
Iran," Richard writes. "An energy shock from the conflict that raises
the cost of power or constrains its supply directly affects data centres and AI
production." This will drive up costs for the AI infrastructure that
increasing numbers of businesses are becoming reliant on, he warns.
There
is also a mounting risk that China could act against Taiwan. The Chinese
government has long maintained that Taiwan is its territory, and only a strong
US military presence in the region has so far prevented action.
With
the US potentially entangled in a protracted and costly conflict in Iran, Xi
Jinping could decide that the moment is opportune to blockade or even invade
the island.
That
would have a catastrophic impact on AI-dependent businesses: a single Taiwanese
company supplies more than 50% of the world's computer chips.
This
would have "inevitable knock-on effects," Richard warns, noting that
simultaneous conflicts in the Middle East - disrupting global oil supply - and
in Taiwan - crippling the West's AI infrastructure - could inflict
unprecedented damage on the global economy.
It
is the growing interconnectedness of the world's economies, he says, that makes
a fresh financial crisis more dangerous: "Our current financial system
fails not because any one thing goes wrong. It fails because different shocks
propagate through the same structure and in ways that are hard to
anticipate," he writes.
"When
something eventually goes wrong, it spreads faster than it can be
contained."
Richard
suggests that today's financial system could be even more vulnerable than in
2008: "The physical risks of Iran, Taiwan and the A.I. boom are
supplanting the types of financial risks that preceded 2008," he stated.
"I'd take financial risk any day. Financial risk moves just prices.
Physical risk moves the world."
'I predicted the
2008 financial crash - something worse could be coming'
In
other news, Iran. 88 million people, the
17th largest country on planet Earth. Is America really ready to put
troops into Iran to try to occupy it? How many and for how long? Approx. 28
minutes.
The
Geography of Iran Explained.
The Geography of
Iran Explained.
Global Inflation/Stagflation/Recession
Watch.
Given
our Magic Money Tree central banksters and our spendthrift politicians,
inflation now needs an entire section of its own.
Recession fears grip markets as energy facilities
come under fire in Middle East
March 19, 2026
Risk-off mode takes hold
as attacks bring crisis to 'a more dangerous level for the global economy',
analyst says
A recession mindset took
hold among global investors after strikes on energy infrastructure in the
Middle East heightened fears that disruption to production and distribution
would keep oil prices elevated for longer, darkening the global economic outlook.
Crude prices staged a
comeback on Thursday after Iran attacked a liquefied
petroleum gas site in Qatar in
retaliation for Israel's strikes on its South Pars gas field. Brent futures
surged 5.5 per cent to US$113.53 a barrel in London, and contracts for West
Texas Intermediate jumped 1 per cent to US$97.44.
"The attack on
Qatari gas fields has taken the Gulf crisis to a more dangerous level for the
global economy," said Gary Dugan, CEO of The Global CIO Office, which
advises family offices and ultra-high-net-worth investors. "Disruption to
both oil and gas supplies is pushing prices higher and raises the risk of
genuine fuel shortages that could materially crimp global growth."
Do you have questions
about the biggest topics and trends from around the world? Get the answers
with SCMP Knowledge, our new platform of curated content with
explainers, FAQs, analyses and infographics brought to you by our award-winning
team.
The outlook triggered a
broad risk-off mode among investors, as the narrative following the closure of
the Strait of Hormuz quickly shifted from energy shortage to supply disruption.
The US dollar index held
up firmly at around 100, indicating investors were looking for safe havens,
while stock markets saw sell-offs. After the S&P 500 sank 1.4 per cent
overnight, the Hang Seng Index slid 2 per cent on Thursday, while the Shanghai
Composite Index of yuan-denominated stocks closed 1.4 per cent lower after
briefly dropping below the 4,000-point threshold.
Meanwhile, the yield on
longer-dated US Treasuries edged higher, reflecting fears of resurgent
inflation. Gold also retreated, with investors taking profits to cover margin
calls linked to other asset classes.
Investors had barely
priced in the threat of global recession before the escalation. Risk assets had
remained relatively resilient on expectations that the US-Israel assault against Iran would end quickly. Even after Iran's
blockage of the Strait of Hormuz - a marine corridor responsible for about a
fifth of the world's oil flows - investors stayed upbeat that it was simply a
logistics snarl and would not evolve into a true energy crisis.
The attack on
infrastructure facilities changed that mindset, forcing investors to take risks
off the table as the challenge changed from re-routing ships to repairing
physical damage, which could take weeks or even months, according to Stephen
Innes, a managing partner at SPI Asset Management.
"The moment upstream
Iranian energy assets were hit, the entire pricing framework flipped from
logistics to geology," he said. "You can hedge a tanker delay, but
you cannot hedge a wounded gas or oilfield. Tankers can be re-routed, and pipelines
can become larger conduits for flow, but damaged production capacity has to be
rebuilt, not redirected."
With oil trading above
US$100 a barrel, global growth could be shaved by 0.4 percentage points while
inflation could surge by 0.7 percentage points, according to economists.
The recession risk also
increased after Federal Reserve Chair Jerome Powell signalled that a prolonged
war would add more uncertainty to the outlook for monetary policies. Rates
traders dialled back bets on the number of interest-rate reductions expected
this year - to one from two - after the Fed stood pat on borrowing
costs at the year's
second policy meeting.
"Should the
significant risk that the conflict drags on materialise, and oil remain well
above US$100 per barrel for longer, the inflationary effects will feed through
into a wider basket of goods, and we could be looking at the next Fed move
being a hike later this year, not a cut," said Jon Butcher, an economist
at Aberdeen Investments.
Recession fears grip markets as energy
facilities come under fire in Middle East
Technology
Update.
With events happening
fast in the development of solar power and graphene, I’ve added this section.
Ye olde English way of
measuring alcohol content by “proof,” explained. Pour out a glass of scotch,
gin, rum or brandy and start, you’ll probably need a stiff one.
Understanding
British Imperial Proof Strength
February 13, 2022
I see a lot of questions about the old British
“imperial proof” system. It confuses a lot of folks, which is understandable.
Here’s an example: someone recently posted a picture of an old bottle. The
label says “75% proof” as well as “43% ABV.”
In the American definition, the “proof” is twice the
alcoholic strength by volume. In the case of the above bottle, twice 43% ABV is
86 proof.
Yet the label ways 75% proof. What gives?
This particular bottle was old enough that it used
the imperial proof system. Let’s take a look at that system.
The
Gravity of the Situation
The imperial proof system is one of those things
that seems super complicated until you understand it, then it’s incredibly
easy.
Rather than jump straight into proof math, let’s
understand it conceptually. To do that, let’s momentarily look at something
completely unrelated yet quite instructive.
Let’s talk about gravity. Scientists have technical
terms and units to describe it, but we’re going to keep it simple. The earth we
all live on has a gravitation pull downward. The gravitational pull is
essentially the same anywhere we go on the earth’s surface. Let’s give that
amount of gravity a name: “standard gravity.”
Now, if we teleport to the moon, we know the
gravitational pull is less. But how can we describe how much less? Perhaps we
might describe it as a percentage of the Earth’s standard gravity. A quick look
at Wikipedia shows that the moon’s gravity is 16.5 percent of the
Earth’s standard gravity.
Next, let’s zoom off to Jupiter, where we’ll weigh
much more because Jupiter has a higher gravity than earth. How much more?
Again, Wikipedia has the answer: 265% more than the earth, so 2.65 Earth
standard gravities.
The important point here is that we’ve chosen a unit
of measurement—the gravity of the earth—and we’ve expressed the gravity of
other celestial bodies in units of that measurement.
With this in mind, we’re now better prepared to
understand the imperial proof system.
What
Your Proof?
Clear your mind of anything you know about the
alcoholic strength of spirits. Forget about ABV; forget about “proof.”
Now, imagine that some global authority decides that
their favorite spirit is the standard by which all other spirits should be
measured. We shall call it the “reference spirit.” We have no idea what its
alcoholic strength is, so we can only say it’s of “reference strength” —
whatever that means.
Next, think about how we might describe the strength
of another spirit. Luckily, we have a magic measuring device that can tell us
the strength of any spirit relative to this reference
strength.
With one spirit, our magic measuring device says
that it’s 10% more than the reference spirit. We could say
that spirit is “110% reference strength.”
For another spirit, the device declares it to be 70%
of the reference strength. We could put “70% reference strength” on the label.
The parallels between units of gravity and units of
“reference strength” are very simple to grasp.
As it just so happens, centuries ago, the British
government actually declared a “reference strength.”
They called it “Proof strength.”
Understanding
Proof Math
Without going deep into the history of British
excise law, the British government didn’t use ABV way back in the day. Instead,
they defined what “proof” meant. In modern terms, it was equivalent to 57.14%
ABV.
Terms like “underproof” and “overproof” were percentages and relative to
proof strength.
Let’s look at some examples:
10%
overproof
110% of 57.14% ABV = 62.8% ABV.
75%
Proof
75% of 57.14% ABV = 42.9% ABV
Navy
Strength
Navy strength was defined as “4.5 percent
(“degrees”) under proof”
100% – 4.5% = 95.5%
95.5% of 57.14% ABV = 54.5% ABV.
Yes, navy strength is not 57% ABV. Many brands
have this wrong. Nor is it overproof. Technically, it was
underproof.
Doing
it the other way – 151 Rum
“151” strength rum is popular in cocktails. The
“151” refers to its strength in the American proof system.
It’s also a great example for doing the math
backward to convert from American proof or ABV to imperial proof.
151 American proof = 75.5% ABV.
75.5 is 32% more than 57.14: 75.5 / 57.14 = 1.32. Or
132%, if you prefer.
Thus, “151 rum” would be 132 imperial proof, or “32
percent overproof,” if you prefer.
Let’s
Talk About “Overproof”
More
Understanding British Imperial Proof Strength - Cocktail Wonk
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt Clocks
(usdebtclock.org)
Exponent
Calculator
Enter
values into any two of the input fields to solve for the third.
This
weekend’s music diversion. Another long forgotten Italian great. Approx. 25 minutes but the opening 12 minute
allegro is enough.
Gaetano
Pugnani (1731-1798) - Concerto in re maggiore per due violini
Gaetano Pugnani
(1731-1798) - Concerto in re maggiore per due violini - YouTube
Next,
how Iran got a coup. Approx.19 minutes.
How
the US Turned Iran Into a Dictatorship: The 1953 Coup (Documentary)
How the US Turned
Iran Into a Dictatorship: The 1953 Coup (Documentary) - YouTube
Finally, how the UAE plans to bypass the
Strait of Hormuz once and for all. Approx.
21 minutes.
UAE Is Wiping the Strait of Hormuz Off the
Map and Building Its Own Secret Bypass
UAE Is Wiping the
Strait of Hormuz Off the Map and Building Its Own Secret Bypass - YouTube
The natural tendency of government, once in charge of money, is
to inflate and to destroy the value of the currency.
Murray Rothbard
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