Important Takeaways:
- Oil prices could reach ‘uncharted waters’ if the Israel-Hamas war escalates, the World Bank says
- The World Bank reported on Monday that oil prices could be pushed into “uncharted waters” if the violence between Israel and Hamas intensifies, which could result in increased food prices worldwide.
- The World Bank’s Commodity Markets Outlook found that while the effects on oil prices should be limited if the conflict doesn’t widen, the outlook “would darken quickly if the conflict were to escalate.”
- And the threat of escalation looms. Israeli tanks and infantry pushed into Gaza over the weekend as Israeli Prime Minister Benjamin Netanyahu announced a “second stage” in the war. Hamas officials have called for more regional assistance from allies, including Iran-backed Hezbollah in Lebanon.
- The World Bank report simulates three scenarios for the global oil supply in the event of a small, medium or large disruption.
- Effects should be limited if the conflict doesn’t widen in a “small disruption” scenario — as oil prices are expected to decline from current levels of roughly $90 a barrel to an average of $81 a barrel next year, the World Bank estimates.
- But during a “medium disruption” — equivalent to the disruptions experienced during the Iraq war — the global oil supply of about 100 million barrels a day would decline by 3 million to 5 million barrels per day, driving oil prices up possibly by 35%.
- In a “large disruption” scenario — comparable to the Arab oil embargo of 1973 — the global oil supply would shrink by 6 million to 8 million barrels per day and prices could go up by 56% to 75%, or to $140 to $157 a barrel, according to the report.
- Indermit Gill, the World Bank’s chief economist, said Russia’s invasion of Ukraine has already had disruptive effects on the global economy “that persist to this day.”
- “If the conflict were to escalate, the global economy would face a dual energy shock for the first time in decades — not just from the war in Ukraine but also from the Middle East,” Gill said.
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Important Takeaways:
- ‘What We’ve done Has backfired’: Douglas Macgregor Tells Tucker Why the Ukraine War must End Immediately
- Carlson said in his starting monologue that the media is lying that Ukraine’s army is thriving in the war against Russia. He warned that U.S. troops will have to take over to defeat Russian President Vladimir Putin, but Macgregor warned the U.S. could lose in a potential “catastrophic war.”
- Macgregor estimated that 40,000 Ukrainian men have been killed in the last month, with many having surrendered to the Russians because they are physically unable to fight due to injuries.
- Macgregor, a former Army officer who served in the Vietnam War, warned of the possibility of using nuclear weaponry and “escalation” since opponents will feel obligated to use their nuclear weapons or risk losing them.
- “This is a no-win situation because the Russians, though they were not prepared in February 2022 for this kind of war, they are now,” Macgregor said. “And they’re continuing to prepare, which includes continuous mobilization. They’re up to 750,000 troops in and around Ukraine. Most of them are on the outskirts, Bielorussia, Western Russia, down in southern Ukraine. That number is going to rise over the next year, I would expect to 1.2 million.”
- “Our intransigents, our demonstrated hatred and hostility for Moscow and for Russia has convinced the Russian people, as well as the leadership in Moscow, that they are going to have to fight us and anyone who is aligned with us… That’s why it’s so important that we have to wake up, understand what we’ve done has backfired. What we need to do now is stop this and come to a settlement that we may not like. But it needs to happen and soon before this thing is out of control.”
- “If you press this war with Russia in Central East Europe, it will reach us here in the United States,” he told Carlson.
- …the U.S. forces are much weaker than the American public is led to believe.
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Revelations 6:3-4 “when he opened the second seal, I heard the second living creature say, “Come!” 4 And out came another horse, bright red. Its rider was permitted to take peace from the earth, so that people should slay one another, and he was given a great sword.
Important Takeaways:
- Ukraine war: Leak shows Western special forces on the ground
- The UK is among a number of countries with military special forces operating inside Ukraine, according to one of dozens of documents leaked online.
- It confirms what has been the subject of quiet speculation for over a year.
- The leaked files, some marked “top secret”, paint a detailed picture of the war in Ukraine, including sensitive details of Ukraine’s preparations for a spring counter-offensive.
- The US government says it is investigating the source of the leak.
- According to the document, dated 23 March, the UK has the largest contingent of special forces in Ukraine (50), followed by fellow Nato states Latvia (17), France (15), the US (14) and the Netherlands (1).
- The document does not say where the forces are located or what they are doing.
- US Defense Secretary Lloyd Austin said the Department of Justice had opened a criminal investigation and he was determined to find the source of the leak.
- “We will continue to investigate and turn over every rock until we find the source of this and the extent of it,” he said.
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Revelations 6:3-4 “when he opened the second seal, I heard the second living creature say, “Come!” 4 And out came another horse, bright red. Its rider was permitted to take peace from the earth, so that people should slay one another, and he was given a great sword.
Important Takeaways:
- China sending troops to Russia in escalation of ‘no limits’ deal after Ukraine war stalls
- CHINA will send its People’s Liberation Army into the Russian Far East to participate in military drills in the latest show of friendship between the two nations.
- In a joint statement, the two countries said: “Friendship between the two States has no limits, there are no ‘forbidden’ areas of cooperation.”
- The drills are expected to last from August 30 until September 5.
- Other participating countries include India, Belarus, Mongolia, and Tajikistan.
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Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Ukraine war: World Bank warns of ‘human catastrophe’ food crisis
- The world faces a “human catastrophe” from a food crisis arising from Russia’s invasion of Ukraine, World Bank president David Malpass has said.
- He told the BBC that record rises in food prices would push hundreds of millions people into poverty and lower nutrition, if the crisis continues.
- The World Bank calculates there could be a “huge” 37% jump in food prices.
- This would hit the poor hardest, who will “eat less and have less money for anything else such as schooling”
- Food prices are at their highest since records began 60 years ago, according to the index, after they jumped nearly 13% in March, following February’s record high.
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Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”
Important Takeaways:
- Russia’s Ukraine war threatens to blow US food prices sky-high
- Inflation nearing a dangerous high, experts warn
- It began with a rapid rise in gas prices. Now, with Russian oil banned in the United States and energy scarcity heightened globally, experts say shoppers can expect their grocery bills to rise in coming months
- Russia and Ukraine produce 25% of the global wheat supply, according to the Observatory for Economic Complexity. While neither of these countries export wheat to the U.S. directly, their absence from the global market is expected to strain supply and push prices higher.
- “It comes an absolutely horrible time for American consumers because we’re looking every day at inflation almost reaching 10%,” Dan Varroney
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Matthew 24:6 “And you will hear of wars and rumors of wars. See that you are not alarmed, for this must take place, but the end is not yet.”
Important Takeaways:
- Russian Priest Arrested for Delivering Sermon Against Ukraine War
- Father Ioann Burdin of the Resurrection Church in Russia’s western Kostroma region will be tried for anti-war statements in his sermon, and for publishing a link to an anti-war petition on his parish’s website, the BBC’s Russian service reported.
- Father Ioann has been accused of discrediting Russia’s armed forces. He told parishioners about “Russian troops in Ukraine shelling the Ukrainian cities of Kyiv, Odesa, Kharkiv and killing citizens of Ukraine—brothers and sisters in Christ”
- His parish reportedly shared a link last week to an anti-war petition, accompanied by a statement
- “We, Christians, cannot stand idly by when a brother kills brother, a Christian kills a Christian,” the statement said. “Let’s not repeat the crimes of those who hailed Hitler’s deeds on Sept. 1, 1939.”
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