Europe concerned about Putin's next move.

0:00 Speaker 1 Sunday Morning with us. This morning is Mario Economo, a former banker from New York, London, Zurich. And. It gives the same Sunday Morning European report. Well, Mario, what the heck is going on in Europe? I mean, there’s so many moving putts.

0:20 Speaker 2 Yes, good morning, mister Kasmathievis. Indeed there are. It’s summertime here, so things are relatively quiet overall. I thought maybe we could start with what’s going on in the Red Sea and the Persian Gulf in that part of the world. First, several days ago, there was a Greek crude carrier that was actually attacked by the Hooties, a drown attack. They

0:46 managed to rescue the crew and the ship itself is anchored in the Red Sea. It’s carrying roughly one hundred and fifty thousand tons of crude, which they say had left the rod and was on the way to Greece in order to be refined at a refinery and subsequently sold.

1:07 So you’ve got this big ship there now that’s sitting there. It’s completely immobilized. The French were the ones who were the first ones on the scene and managed to rescue the crew and to actually sink a remote controlled boat that the Juties were sending. In addition to the initial strike, they sent the subsequent boat to actually hit the ship

1:28 and sink it. They failed in that mission, but we’re seeing once again the ineffectiveness of the US fleet as well as this European Fleague, which is very limited group of ships at actually deterring the Hauties. The houthis continued to control essentially see passage and the Swiss Canal by default.

1:51 Most other ships are making their way around Africa. The situation there has not been resolved, and I suspect it won’t be resolved. It basically shows that the mission that was initially established in order to deter the who deason to hurt them has actually failed. And I think what we can do is we can actually go now up

2:14 to Iran from this region and we can see that whereas Ron said they were going to attack Israel and respond to the assassination of mister Haniez, we now see that in fact, the Iranians are actually taking their time and they’re in no hurry to attack anyone. Obviously, we discussed last week the reasons, the economic reasons why it’s

2:38 not in Iran’s interest to do it, and they’re not fools. But what they’ve essentially succeeded in doing with this fear of the attack, they’ve essentially shut Israel down. And when I say shut it down, economically, Israel now is suffering tremendously industry businesses, people are leaving the country. Nobody knows when or if the attack will come. So they’ve managed

3:03 to essentially freeze the situation in the state of Israel by threatening impact but not actually following through it. To give you an idea of the costs involved in all these things, the Greek frigate which is in the Red Sea part of this European force to deter the Hukis from attacking ships, it’s costing roughly five hundred thousand euros

3:27 a day. And that’s for a relatively small frigate from the country like Greece. Imagine what the US carrier group, amphibious assault groups both in the Persian Gulf and the Eastern Mediterranean are costing.

3:42 Speaker 1 The Mario may I speak. The fact is, by the way, on Thursday night on WABC in New York, we had the General Consul of Israel and when we asked that we know everybody knows that the Hoodies, the Hamas and Hezballah, they’re all toys of Iran. And Iran has not attacked Israel.

4:16 And I think he I believe he said make my day. In other words, I saw his face. I saw that if I Ran attacks Israel, and that’s why I ran as being so careful, because I’m not sure they’re going to listen to anything that the White House is going to say. If I Ran attacks Israel, Iran is going

4:42 to get a real kick.

4:45 Speaker 2 Yes, I don’t disagree with the assessment. If Iran does attack Israel, it’s going to get a real pick. But we also have to accept the fact that’s uthithstanding the fact that Iran has said it’s going to attack, it has not attacked, and notwithstanding the fact that if You’rean attacked, it’s going to get hit back hard. Iran itself has

5:04 a large enough arsenal to reach Havoc, not only on US fleet which is out there in the Persian Gulf on the eastern med but more importantly is.

5:13 Speaker 1 Then it’s World War three. Iran will never will not be, Iran will cease to exist. Right, And one more thing. On Friday morning, I was on Fox Business with Maria Baranama, and the fact is the United States of America has the ability to clear out the Hoodies from the Suez Canal and the Red Sea and bring down the price

5:43 of Crudell fifteen dollars a battle minimum. But they refuse to do that, and nobody understands why they refuse to do it.

5:53 Speaker 2 Well, I don’t understand why either, and I’m not sure. I’m not sure I’m in agreement with you that they can do it, but I don’t want to get caught up in that.

6:03 Speaker 1 Forty eight hours. I’ve spoken to our own military.

6:08 Speaker 2 Yes, well, I think we need to all work to avoid the World War three scenario. It scared the living heck out of me and just about everyone else. I know nobody will win in that situation, and I think cooler heads should prevail and some type of peaceful resolution needs to be reached. Now we’re discussing all of this

6:27 war and carnage, let’s move up to the Ukraine and let’s just quickly touch on what’s happened there with respect to the Ukrainian incursion into Russia. And you’re not off the Ukrainian invasion.

6:39 Speaker 1 Let’s try to get it in in the next minute and a half.

6:44 Speaker 2 Right, So let’s not get caught up on the semantics of the world, but let’s focus on one thing, which is the fact that the large front in the downbat the Russians had secured and they continue gaining land on now has to actually on the Ukrainian side ration shells, artillery pieces and shells, because they need to send them

7:05 to the people who have invaded or who have made the incursion into Course. So what they’ve essentially done in the Ukraine is they’ve weakened their front thinking that if they make this incursion into Russia, they’re actually going to come out ahead. I can assure you and bet you a five dollars cup of coffee at the startup, that

7:25 there is no way this incursion into the Course region will succeed. There is no way mister Zelenski will bring mister Prutin to the table. In fact, the only thing he succeeded and the Europeans have succeeded in doing in this is in having Russia moved down six Tuplev strategic bombers closer to the border with Ukraine. Those are those

7:47 large silver propeller planes that carry nuclear missiles on them, and you might ask, well, why did they move them from the Arctic down to the Ukraine. I mean, they could have easily stayed in the Arctic, and from up there they could have long much The reason they’ve done this is because they don’t trust what’s happening. They believe

8:04 they being the Russians and President putin that the US and NATO are behind this, and they’re concerns US and NATO will actually try to launch some type of a prehensive nuclear attack. So what they’ve done now is they’ve got their submarines off the coast of the United Kingdom and Western Europe, and they’ve now got their strategic bombers

8:26 literally seconds away from the Ukrainian border. The situation is volid soil. Once again, everything is spinning out of control. Everybody needs to take a deep breath, and we need to talk to the Russians and we need to find a resolution to the problem. Because I can tell mister katsin the TV as a European, I’m not prepared to

8:45 sacrifice any of our cities in Europe for the Ukraine. And as an American, I’m not prepared to say, well, I’m prepared to lose New York in order to save WARSAW. I think it’s insane. I think everybody needs to pause, they need to stand down, and we need to all sit around the table and negotiate and reach a peaceful

9:04 resolution the situation in the Ukraine.

9:07 Speaker 1 But all we’re out of time. Thank you so much for calling in and bringing us up to day on Europe, and we’ll catch up with you again real soon.

9:16 Speaker 2 Thank you, mister casing Pezi’s enjoy your day.