I am not here to argue the merit of this fiasco, but to say it is for regime change is remarkably ill informed. Even the White House has walked that one back after workshopping it with the press pool. The Iranians just appointed a new supreme leader. They don't even have to change the nameplates under the photos. No regime in world history has ever been unseated by aerial bombing alone and unless the US wants the straits closed forever, they need to strike a deal or launch an all out invasion. Guess which one they will opt for?

I have waved to and looked in the eyes of Iranians swarming our heavily armed military ships with speedboats. They could have taken out $50B worth of military hardware with a few small boats (or missiles, or mines) and they prove it every time a ship goes through, which is why our ships are currently not in the Arabian Gulf, but are sitting way outside.

In any case, my post was meant to say that the wisdom of the markets seems to think this will wrap up sooner than later. I guess we shall see.