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Home The Fat Pipe Aug 31, 2026: Hormuz, Trouble at Home, Revolting Bonds, UKR and RUS Pummel Each Other, & Food Prices Launching

The Fat Pipe Aug 31, 2026: Hormuz, Trouble at Home, Revolting Bonds, UKR and RUS Pummel Each Other, & Food Prices Launching

Well folks, the Iran war is back on the front burner, food prices are finally reacting to all the pressures, and rare and notable dissent is brewing within the Pentagon. This means Trump is getting cornered. Now what?

The User's Profile Chris Martenson August 31, 2026
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Happy Monday, everyone!  Lots happened this weekend, so let’s dive in.


The Hairpin of Hormuz

Trump’s tar baby is Iran.  Presumably lured into it with visions of easy wins and something more to boast about, it has turned into the defining disaster of his entire legacy, and possibly of any president since Woodrow Wilson signed the Federal Reserve Act.

By the way, we’re not refilling the SPR with Venezuelan heavy oil – it’s the wrong grade and, you’ll be interested to know, any oil with an API of 10 or lower sinks in water, so it is thoroughly unsuitable for SPR storage (A lot of VZ oil is 10 or below).

Last night things went to heck again with the U.S. attacking Iranian military assets on the smallish island ‘Larak’ killing a few IRGC military personnel.  Iran replied with drones in the UAE and missiles to Jordan:

At least two were intercepted by a wave of PAC-3 patriot interceptor missiles.  One wonders why only these two interceptions were recorded and posted…

It’s unclear as of this morning what damage was caused by the drones and missiles:

But given these reports, I seriously doubt the answer is “not much.”

Joe Kent trying to inject some sanity from the bleacher seats before it’s too late:


Trouble At Home

This is unusual to say the least. Top US military brass ‘leaked’ to the Washington Post a document that cast serious doubt on the US military’s ability and, more importantly,

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