Tuesday, August 04, 2026

Depending On Who You Ask When

The U.S. Army has used up “virtually all” of its stockpile of highly accurate long-range missiles during the last five months since the start of the Iran War - munitions which would be crucial in any conflict with China - including most of its stock of Army Tactical Missile Systems (ATACMS) and Precision Strike Missiles (PrSM), three people familiar with the data tell Reuters.
President Trump says Iran has a "last chance" to reach an agreement on the Strait of Hormuz, warning that if a deal is not reached "today or tomorrow," the U.S. could launch major airstrikes.

Speaking Monday, Trump said he wants Iran to quickly reach an agreement with Oman to restore shipping through the strategic waterway, while rejecting any arrangement that would allow Tehran to charge transit fees. "There's not going to be charging," Trump said, referring to commercial shipping through the strait.

The comments come as negotiations appear stalled. Iranian officials continue to insist Tehran has the right to regulate maritime traffic through the Strait of Hormuz, while an adviser to Iran's supreme leader warned U.S. warships and bases would be at "serious danger" if Washington does not lift its blockade of Iranian ports. Bloomberg reports there is little sign of progress in the Oman-mediated talks, despite Trump's latest ultimatum.
Bessent: "We've seen President Trump last week threaten what would have been the largest military campaign since World War 2 against the Iranians, and now because of that we are in talks with the Iranians. I think there's a chance we may have a deal today or tomorrow to open the strait."
I’m old enough to remember when we were told to put businessmen in charge of government because they were clear headed savants who would only make decisions based on cold, rational calculations, unmoved by emotions and wishful thinking.
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