Richard Wolff joins John Kiriakou on Deep Focus to look at Europe’s growing fuel crisis and the wider impact of tensions with Iran. Threats to close the Strait of Hormuz put oil supply at risk, pushing prices higher and raising the chances of a global slowdown. Europe faces the possibility of severe fuel shortages, with knock-on effects across industry and transport. Long standing US-Iran conflict, along with tariffs and economic pressure, continues to shape these conditions.
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This is the paradox of modernity: as we increase technological complexity, we become more dependent on energy inputs beyond our control. We are entering an era where the management of depletion will become the only true political variable, forcing the system to contract toward a scale it can structurally afford.
On John's recommendation on investing in gold (and he's not alone in that);
In 1933 the US govt confiscated American's gold and gold certificates (Executive Order 6102). What's to stop them from doing that again? Nothing. If one does invest in gold, it should be done in a way in which the US govt does not know you own that gold. It should be unregistered and stored in a place where one can literally put their hands on it, but the US govt can't. There is no point in gathering up gold just to make it easy for the govt to confiscate it - AGAIN.