We start today's podcast assessing recent developments in the US with regards to the Iran war which seems to indicate that a US ground invasion looks highly likely. We then move onto assessing the role of the PetroYuan in terms of Iranian demands for toll fees and oil to be paid in the Yuan and stablecoins, which are not USD stablecoins. We conclude by assessing a couple of examples of the impact the Iran war is already having on Western businesses and the ramifications of an offer Iran is making to the EU to traverse the Strait of Hormuz.