Trump administration officials are telling reporters and that there is no doubt that the attack on the oil production facilities in Saudi Arabia originated from Iranian soil, although Trump himself is being less dogmatic in his public statements. It appears that Trump wants all of the evidence to come in before making a final decision about what to do, but clearly he is leaning toward military action against Iran. And when we hit Iran, there is a very high probability that they will hit back. In fact, the Iranians have already stated unequivocally that they will defend themselves. So as I discussed yesterday, we are potentially facing a scenario that could ultimately lead to World War 3. (Read More...)