According to the site Moon of Alabama (which is run by former German Intelligence operative):

“Iran fired several hundred drones, cruise and ballistic missiles towards Israel.

Two Iranians missiles, for which the drones flew cover, hit their targets. The Nevatim Air Base (vid) and the Ramon airbase (vid), both located in the Negev desert, experienced impacts.

With the help of the U.S., UK and Jordan most of the incoming items were intercepted.

israel managed to stop the majority of incoming drones and missiles at a cost of more than $1 billion.

How big the damage was can only be noted after fresh satellite pictures come in.”

Obviously now both sides will declare victory.

Iran can claim that it successfully penetrated Israel's air defense and hit appropriate targets in revenge for the Israeli attack on Iran's embassy in Damascus. Iranian TV showed explosion in Chile to pretend it had succeeded!!!!

And Israel can claim that it has successfully defended its assets.Israel may want to hit back on Iran. It would be stupid to do so.

The show is likely over!! But there are clearly lessons here for both sides worth noting. Israel’s air defenses are depleted, costly and were in fact penetrated!! This at the very least makes Iran potent. It should be noted that Iran did share its plans in detail with the U.S. (and therefore Israel and Allies in advance). The fact that it still managed to penetrate is therefore of serious concern.

For Iran the role Jordan and Saudi Arabia played in defending Israel is noteworthy too. Both have sizable minority populations that are pro-Iranian that can create havoc and topple their governments (Jordan has millions of refugee Palestinians and Saudi Arabia has a huge Shia Muslim population right on top of its oil fields)!

It’s time for peace …. Not escalation.

I’m keeping track of news reports involving Iran’s retaliation plans against Israel! And I keep posting updates …

What I’ve noticed is there was a news report Iran will shut down the straits of Hormuz - and oil prices go up! But nothing happened!

Then there was news that Iran was going to hit Israeli embassies in the region. Israel evacuated their embassies but nothing happened!

Then there’s news of Iran hitting Israel directly - flights to Israel are being cancelled left right and center! Travel and business is being cancelled- having massive impact on Israel’s economy! Meanwhile nothing has happened.

I say Iran needs to keep planting news reports and do nothing … if it wants to really harm Israel without lifting a finger!!

There was a news report today, that suggested that one ‘consideration’ in Iran for retaliation against Israel’s attack on the Iranian embassy/consulate in Syria is for Iran to block the straits of Hormuz. Oil traders took the news seriously, and the oil price increased today!

This news report has left me deeply suspicious. It seems to suggest that the attack on the embassy and the subsequent response are all part of a carefully orchestrated plan, which is a grave concern.

The United States has a problem. Much of the Western World has the same problem. The overall level of sovereign debt is unbelievably high. This year, the United States will pay over $1 trillion (that with a T) in interest payments alone on its national debt, which stands at over 34 trillion dollars. This is simply unfathomable. The federal budget for Medicare/Medicaid or defense expenditures is less than a Trillion each. In essence, interest payments will be the single largest line item in the federal budget! This is roughly $3000 for every man, woman, and child in America. And it's roughly $10,000 for every working person in this country. And the US situation is much better than, say, Ireland, where every newborn baby gets hammered with a $500,000 sovereign debt load the second their mother puts a dummy in their mouths. And so on!

The easiest and fastest way to make this debt a non-issue (from a federal economic standpoint), is to have a bout of inflation. But how do you engineer that without any political fallout?

Well, it’s very simple. To figure this out, we must look at history.

In the ‘70s the US and UK discovered oil in Alaska and the North Sea of Britain. But it was costly to dig it out. They did not want to be held hostage by OPEC and decided to produce their own fossil fuel resources domestically. But there was a catch. How do you engineer the price of oil to be high enough to make these fields economically exploitable?

In walks the Shah of Iran – the famous OPEC hawk. They let him ‘push’ for price increases. And then they toppled him. Boom! Bang! They toppled the Shah who was blamed for rampant inflation in the West and ridiculous oil price increases. Then they put in the Mullahs and set the place a flame so Iran’s oil and gas would be taken off the market to allow the US and UK to enter a ‘tight’ market with sufficient demand to keep their revenues flowing for decades to come. Voila!!

Most people around weren’t even born when they pulled off these shenanigans. But it's about to happen again. The straits will be shut down. The price of oil will skyrocket – and it will all be blamed on those nasty mullahs that they put in power, to begin with. How incredibly convenient?

To make matters even more interesting consider that the largest discoveries of oil and gas this century have been off the coast of Israel in the Mediterranean. Israel is a major oil and gas producer and exporter. They wanted to put a gas pipeline across Syria – and when Assad refused, they set up ISIS (which has never attacked Israel or stood up for Palestinians) to topple Assad. They essentially set up a land connection between Israel and Turkey (where, coincidentally, the Nabucco pipeline has 60% vacancy)! My point: Israel also benefits from an oil and gas price increase.

This is a set-up, my friends. First, they wanted Iran to do nothing. Now they’ve decided it should, so they are planting these stories in the press to give Iranian planners some ideas.

Put your seat belts on – we are in for a ride! Hollywood comes to the Straits of Hormuz? Now, will that be before or after Iran bombs the living daylights out of the empty Israeli embassy in Amman (Jordan)?

We could be in for a huge bout of inflation that goes beyond what we have seen in the past few years. You haven't seen anything yet, and it will all be blamed on Iran. Hopefully (at least) they might topple the mullahs after they get away with blaming them! Let’s see.

Happy Eid to all my Iranians, I hope you all have a great day/days ahead and that you all celebrate in style. Id love too see this through your eyes so if anyone wants to post some pictures of how you celebrate in Iran id love that.

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Netanyahu knows that if he negotiates a hostage release and defacto ceasefire with Hamas - that his days in power will be over the very next week! Israelis are already angry with him and his popularity has dived dramatically. So he badly needs to start another fight! Who better than Iran?

If they didn’t already know what was going on years ago in Iran’s embassy (and consulate) in Syria - then shame on Mossad. The timing of the bombing was not a coincidence! Yes, Netanyahu badly needs a pissing match with the Mullahs.

But make no mistake about it - his objective is NOT to topple the Mullahs!! He will most likely reinforce them!! Why? Well if the Mullahs are gone he will have no credible enemy to point to! Also if the Mullahs are gone - then sanctions would be lifted - and Iran would be able to sell gas to Europe … undermining Israeli gas sales (50 bcm last year - that’s b for billion) and U.S. exports at a record 150 bcm this year at 3x the price of Russian gas!! That’s why they cut off Russian gas and started the Ukraine war (ie broke off not one but three Minsk agreements… forcing Putin to invade).

So where does this leave the Mullahs now? I think Netanyahu is dirty enough to suggest some place that he wants the Mullahs to bomb and a series of tit for tat reactions that will Nullify everything but create the illusion of war with Iran and distract from Gaza … and then move on to a stale mate! Maybe some embassy where there’s an Ambassador that is a political rival of Netanyahu or something like that!!

Israelis have their people inside the Mullah regime (the Larijani brothers etc) and Netanyahu will get his message through!!! Be aware of the Hollywood show we will experience in the next few weeks!!! Nothing of substance will change…. There will be an extended Tit for tat … and meanwhile a quiet peace deal with Hamas … and the Mullahs will stay in charge! My point: don’t expect a weakening of the regime or regime change inside Iran as a result of all this. If anything the regime will get stronger. And Netanyahu will stick around too!!!

There was an article in the Jerusalem Post that said, the mullahs are actually thinking of trading a ceasefire in Gaza for revenge on the embassy attack. In which case they may have read Netanyahu's hand and decided to do nothing. How the Jersualem Post figured this out - I have no idea. But it makes sense.