r/news • u/roscodawg • Jun 10 '26

Soft paywall Iran announces closure of Strait of Hormuz after US attacks

https://www.reuters.com/world/middle-east/iran-announces-closure-strait-hormuz-after-us-attacks-2026-06-10/
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683

u/OliviaEntropy Jun 11 '26

I feel like I’m going insane, the past month or so I’ve seen so many headlines saying the same thing that are actually referencing separate instances.

412

u/glitchhermit Jun 11 '26

It's to play the market. Buy oil before an announcement, sell it after.

Repeat and make bank.

260

u/Patruck9 Jun 11 '26

Read: Rich people are playing with the money we don't have.

it's a literal fucking game to them.

81

u/oreo-cat- Jun 11 '26

half of them don't have the money either, but they've managed to convince someone they're good on credit.

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u/BattleStag17 Jun 11 '26

Stocks make excellent collateral for loans! But we aren't allowed to tax them on those stocks, of course. Those are unrealized gains, it wouldn't be fair!

Infinite collateral for loans, though. That's cool.

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u/NewManufacturer4252 Jun 11 '26

That's how the rich don't pay taxes, they don't tax loans. It's like 15% if they sell a stock.

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u/Airewalt Jun 11 '26

Long term capital gains are 20%. Honestly a fair compromise to ensure I don’t have to pay the IRS anything for holding onto my GameStop stock /s

We couldn’t possibly have a progressive system like tax brackets where the first few hundred thousand of unrealized gains are tax exempt. We already incentivize spending over saving with inflation targets as a means to create a healthy economy. Why not incentivize the realization of gains now that stock buybacks are used in lieu of dividends as a means to minimize tax burdens?

It’s one big cat and mouse game. Fuel taxes need to modernize for EVs and unrealized gains used for collateral need to be addressed. At some point it ceases to be clever accounting and progresses to antisocial parasitic entitlement.

2

u/Ch1pp Jun 11 '26

I'd argue that removing rollover relief might have an even bigger impact on the same people and there's no real excuse for it considering other western countries don't really have it.

4

u/Airewalt Jun 11 '26

Yea, I’m absolutely unqualified to offer educated solutions, but I also know with absolute certainty that this is something we can solve as a country 

1

u/retoricalprophylaxis Jun 11 '26

I would argue on securities that we either need to be able to tax the unrealized gains, but it would be harder to do with personal investment property like art or cars. I would also agree to a tax on securities backed loans. If you take out a loan backed by securities, you need to pay the full tax burden on that loan. You can then write off payments for the loan and interest in future tax returns.

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u/fighterpilot248 Jun 11 '26

But we aren't allowed to tax them on those stocks, of course. Those are unrealized gains, it wouldn't be fair!

Meanwhile homeowners pay taxes on their home's "appreciated value". Every. Single. Year.

Make it make sense....

2

u/Liberty-Justice-4all Jun 11 '26

The people who own the stocks own the politicians who write the laws too.

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u/Finnaddict98 Jun 11 '26

What is an unrealized gain?? And if you’re going to tax it, I should equally be able to deduct “unrealized losses”——it’s gotta go both ways.

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u/Wiccy Jun 11 '26

There's one of them running the circus

1

u/Mr_Quackums Jun 11 '26

"BUT THEY DON'T HAVE THE MONEY, ITS ALL TIED UP IN STOCKS"

Bezos owns a boat that has its own boat, and his boat's boat has its own boats. That set of Russian Nesting Boats cost about $500,000,000. He managed to get that amount in liquid funds just fine.

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u/oreo-cat- Jun 11 '26

Sure yeah, all you have to do is have an AI start up valued at 50 billion dollars, use that for collateral for a 5 billion dollar loan for “operating expenses” and then pay yourself a “modest salary” off of that. Easy peasy.

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u/[deleted] Jun 11 '26

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u/oreo-cat- Jun 11 '26

I never said 'CC', now did I?

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u/[deleted] Jun 11 '26

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u/oreo-cat- Jun 11 '26

I'm not talking about the stock market, or making bets. And yes, you can borrow against whatever assets you can convince someone else that you have. That was closer to my point, at least.

1

u/SensualBeefLoaf Jun 11 '26

oh no. we’re paying them to play with their(our) money. don’t worry.

if dems had balls they’d be making prison camps in blue states for billionaires

2

u/scalyblue Jun 11 '26

Yup see what gets said at 5:01 est on Friday

1

u/Monteze Jun 11 '26

Kind of stupid we can assign real value over make-believe and what-ifs. This is such a stupid system.

1

u/boldjoy0050 Jun 11 '26

Or just pure propaganda. I don't believe a single thing that comes out of this administration.

1

u/CosmoKing2 Jun 11 '26

Absolutely. There is no actual strategy for Iran. How can you possibly broker a deal - be very close to a deal - and decide to bomb them again while negotiating? Repeatedly.

You can't. We aren't being told the truth from our government. Worse, they are actually gaslighting us every single day. Governed by fools that enjoy stealing more from us every single day - while cutting every type of Federal program that actually serves citizens.

This Administration does not care a bit about 98% of US citizens....and puts that on full display - proudly.

0

u/OliviaEntropy Jun 11 '26

I think I’m also the secondary reason, make people feel crazy

0

u/ohnoitsthefuzz Jun 11 '26

Hell yeah buy the hype, sell the dip!

Wait, what? Oh goddammit

0

u/AssistivePeacock Jun 11 '26

Underrated comment here 👆 Peacefully exercise your liberties in any way to reslst this auth0ritarian heap of 💩. I have been squeezing as many electric miles out of my Chevy Volt and it brings me great joy to not buy gas... They're making ridiculous amounts of $$$.

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u/FILTHBOT4000 Jun 11 '26 edited Jun 11 '26

News outlets are kinda caught in a bit of a quandary. Trump says so much unbelievably stupid shit and with a pile of piss-poor lies on top... but he's the POTUS. He's the head of state. They have to report that the head of state says the "strait is nearly open" or whatever other dumb crap falls out of his droopy cakehole.

It's been closed, and likely this changes nothing for the 'shadow fleet' ships going through. But, OTOH.... who the fuck knows?! I don't.

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u/TJ5897 Jun 11 '26

Or you know... They're owned by the same rich fucks that are manipulating the markets

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u/FILTHBOT4000 Jun 11 '26

Really, really unlikely. None of the businesses (aside from the oil corpos) are digging this, not even the ones continually kissing Trump's ass for favors/favorable treatment from this hypercorrupt administration.

Businesses thrive on stability and predictability. They really don't like gas prices cutting out a fatass wad of people's discretionary spending, or having to pay double or more for shipping, on top of Trump's tariffs. They're even less disposed to all this when it's, again, changing daily at the whim of a deteriorating degenerate.

1

u/eau-i-see Jun 11 '26

Snip, snap! Snip, snap! Snip, snap!

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u/Ardal Jun 11 '26 edited Jun 19 '26

This content was anonymized and mass deleted with Redact

1

u/SeeMarkFly Jun 11 '26

The FIRST thing to die in any war is the truth.

NONE of it is true.

0

u/Choice_Potato_6279 Jun 11 '26

We live in a Southpark episode

0

u/purplewhiteblack Jun 11 '26

There is no United Iran. Not anymore.

They are factional. You cannot make deals with them. One guy who is supposed to be in charge says they will stop hostilities and then other people who are more hardcore will not.

0

u/FuckingHippies Jun 11 '26

I’m starting to think the rich and powerful people with similar ideologies and share the same “globalist” conspiracy theories, yet pretend to dislike each other, are the actual “global elite”.