The lesson of the Iran/Strait of Hormuz crisis is that nations need to stockpile commodities (fertilizer, oil, rare earths, pharmaceuticals) rather than hold treasuries or gold, because you cannot buy what you need when sea lanes are disrupted; India learned this when unable to obtain fertilizer despite having 700 billion in treasuries.
causalpending
Speaker
Louis GavelkalEvidence Quote
“rather than treasuries, rather than gold, you actually need to stockpile commodities. You need to stockpile whatever you need to uh to if you're India, you need to stockpile fertilizer.”
Created: 8/12/2026, 6:20:13 PM
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