Originally published at: https://peakprosperity.com/no-peace-us-ships-move-into-the-strait-aluminum-force-majeure-and-a-us-tax-revolt/
Geopolitics
US Vice President JD Vance left Islamabad on April 12 after 21 hours of indirect talks with Iran failed to produce a peace agreement. US officials cited Tehran’s refusal to commit to not pursuing nuclear weapons as a primary obstacle. Vance described the US final offer and stated the outcome was worse for Iran. Iran’s delegation, led by Parliament Speaker Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi, with 71 members, addressed ceasefire implementation in Lebanon, Hormuz access, sanctions relief, uranium stockpiles, and missiles.
After the talks collapsed, President Trump shared an article comparing a potential full naval blockade of Iran to his Venezuela strategy preceding Maduro’s ouster. The article described such a blockade, enforceable by three US carrier groups, as targeting all Iranian trade beyond oil. Commentators note key differences, including Iran’s control of the Strait of Hormuz and vows of continued defense, potentially risking a counter-blockade and global economic issues.
Relatedly, US Central Command deployed destroyers USS Frank E. Peterson and USS Michael Murphy to clear Iranian mines from the Strait of Hormuz, the first US warship transit since the February 28 war began. President Trump called the effort a global favor, noting empty tankers heading to the US. Iran warned of targeting the vessels, but reported no incidents.
Meanwhile, Pakistani fighter jets and support aircraft landed at Saudi Arabia’s King Abdulaziz Air Base on April 11, according to reports, under a mutual defense pact. The deployment reportedly seeks to enhance joint military cooperation and regional stability after five weeks of US-Israeli attacks on Iran and the ceasefire talks in Islamabad. The agreement, signed last year, reportedly provides for intelligence sharing and joint responses, with some sources claiming Saudi access to Pakistan’s nuclear arsenal. Historical ties include Pakistani troops in Saudi Arabia during the 1991 Gulf War and recent multinational exercises. Saudi Arabia and Qatar announced $5 billion in financial aid to Pakistan following a meeting between Saudi Finance Minister Mohammed bin Abdullah al-Jadaan and Prime Minister Shehbaz Sharif, as Pakistan faces a $3.5 billion UAE debt repayment and rising fuel import costs. Some analysts described the aid and deployment as Pakistan borrowing from one ally to repay another, potentially straining ties with Iran.
Lastly, Turkey’s Foreign Ministry stated that Israeli Prime Minister Benjamin Netanyahu is the “Hitler of our time,” citing his record of crimes, an International Criminal Court arrest warrant for war crimes and crimes against humanity, and International Court of Justice genocide proceedings against Israel. The statement accused Netanyahu of sabotaging peace talks for expansionist policies and warned of risks of trial and imprisonment, even domestically. Turkey affirmed support for civilians and accountability. The statement was reportedly made in response to Israeli criticisms of Turkish President Erdogan for sheltering Iranian proxies.
Energy
In the Strait of Hormuz, three supertankers—Chinese Cospearl Lake (Iraqi crude), He Rong Hai, and Greek Serifos (Saudi crude)—sailed eastward through the Strait on April 11 via a new northerly Iranian route south of Larak Island, the biggest oil exit day since traffic halted six weeks ago. None carried Iranian oil. Their capacities total 6 million barrels, half the normal rates when Iran exported 1.7 million barrels daily last month. Iran requires permissions for the northerly path through its waters. A third Chinese tanker, Yuan Hua Hu, waited nearby. Only two bulk carriers passed on Friday. Traffic, however, remains far below pre-war levels with numerous vessels still queued.
In the Black Sea, Russia’s Novorossiysk port resumed limited oil loadings at the Sheskharis terminal late Thursday after a Monday Ukrainian drone strike caused fires and damaged infrastructure, including CPC-linked tanks for Kazakh crude from Tengiz and Kashagan. One berth operates, with one 80,000-ton cargo expected versus the normal 700,000 barrels per day. Fuel oil and one diesel shipment restarted, but no full recovery timeline was given. Kazakhstan reports stable exports but reduced flexibility. Repeated strikes on Russian outlets like Baltic ports constrain capacity.
In Saudi Arabia, the East-West Pipeline is back at its full capacity of 7 million barrels per day, according to the Energy Ministry.
Economy
Emirates Global Aluminum (EGA), the Gulf’s largest aluminum producer accounting for 4% of global output, declared force majeure on parts of its contracts after Iranian missile and drone strikes halted its Al Taweelah smelter over a week ago. Documents obtained by Bloomberg confirmed the shutdown due to damage amid six weeks of Strait of Hormuz disruptions. Owned by Mubadala and Dubai’s Investment Corporation, EGA sold 2.83 million tons in 2025. The outage adds pressure to aluminum markets strained by reduced Hormuz traffic, with London Metal Exchange futures up 50% year-over-year.
Meanwhile, the US dollar’s share of global foreign exchange and gold reserves has fallen to 46%, the lowest in 26 years and down 15 points since 2017, per IMF data. Excluding gold, it comprises 57% of reserves, the lowest since 1994. The last sub-50% level, inclusive of gold, was in 1990-1991. Analysts noted the dollar remains the dominant reserve currency amid a gradual diversification trend.
In crypto news, a research proposal by StarkWare’s Avihu Levy, published April 9, outlines quantum-safe Bitcoin for transactions without protocol changes or soft forks. It shifts security from ECDSA signatures, vulnerable to quantum Shor’s algorithm, to hash-based assumptions via a “hash-to-signature” puzzle using RIPEMD-160. Valid signatures occur in one of 70.4 trillion attempts, providing 118-bit resistance even under Grover’s speedup. Transactions fit Bitcoin Script limits but exceed relay policies, requiring direct miner submission like Slipstream, with GPU generation costs of $75-150. The process has three stages: pinning, digest rounds, and assembly; tools exist but full on-chain demos are pending. Critics described the approach as creative but not a comprehensive solution to Bitcoin’s quantum vulnerabilities.
US Politics
Amid Americans across the country calling for a national tax revolt—tired of their taxpayer dollars funding endless wars, endless scams, and endless fraud while the nation is plunged into nearly $40 trillion in debt—former IRS Criminal Investigation Special Agent Joe Banister, who resigned in February 1999 after researching income tax laws, shared his story in an interview with former Representative Marjorie Taylor Greene. Banister, who joined the IRS in 1993 and reached grade 13, reviewed Supreme Court cases, the Internal Revenue Code, and manuals off-duty. He concluded that most Americans lack income tax liability under the 16th Amendment. Influenced by contacts like Payman Mataheda of Freedom Law School, he presented a facts-only report to supervisors before resigning to uphold his oath and ethics. He returned to CPA work but refused W-4 withholding, leading to his departure. He was acquitted in 2005 on DOJ charges of conspiracy and false returns, and an IRS expert confirmed no falsities. A post-trial audit revealed IRS coding issues on his returns. Banister, who has not filed income taxes since, promotes his book and website agentfortruth.com. The discussion referenced public anger over the debt, foreign wars, and fraud, along with calls for a national tax revolt, with Trump advocating tariffs over income taxes. Skeptics cautioned that pursuing similar strategies risks IRS enforcement actions against tax protesters.
Sources
Pakistani Fighter Jets Land in Saudi Arabia Under Mutual Defense Pact
Pakistani warplanes land in Saudi Arabia as part of mutual defense pact
Bitcoin Quantum-Safe Without Protocol Changes: New Proposal
A new research proposal claims it can make Bitcoin transactions resistant to quantum attacks without changing the network’s core rules
Three Supertankers with Iraqi and Saudi Crude Sail Through Strait of Hormuz
Three Supertankers Carrying Iraqi And Saudi Crude Sail Through The Strait Of Hormuz
No Deal: Vance Quits Stalled Iran Nuke Talks in Pakistan as US Clears Hormuz Mines
“We have not reached an agreement, and I think it’s bad news for Iran, much more than for the US.”
Novorossiysk Resumes Oil Loadings at Reduced Capacity After Drone Strike
Novorossiysk Restarts Oil Loadings at Reduced Capacity After Drone Strike
Metal Shock: EGA Declares Force Majeure After Iranian Strikes Cripple Smelter
EGA has now declared force majeure on parts of its contract book
Trump’s Iran Blockade “Trump Card”: Venezuela Worked, Hormuz Won’t
Blockading a country that can blockade you back is a very different game.
Former IRS Agent’s Revelations and Calls for National Tax Revolt
Americans across the country have been calling for a national tax revolt
Source | Submitted by nickythec
US Dollar’s Reserve Dominance Hits 26-Year Low
The US Dollar now represents ~46% of global FX and gold reserves, the lowest in at least 26 years.
Turkey Labels Netanyahu “Hitler of Our Time” in Fiery Diplomatic Rebuke
“The Hitler of our time”
Saudi East-West Pipeline Reaches Full Capacity of 7 Million Barrels Per Day
The East West pipeline is now operating at its full capacity of 7 million barrels per day.
In addition to sources submitted by community members, the following were also used in the creation of this report: Chamil R. Tennekoon, Biju Radhakrishna Kurup, Tasnim News Agency, Saudi Gazette, Mario Nawfal, Turkish Foreign Ministry, r8raq, CoinDesk, Rohit Ahuja, King Sholz, CNN, OSINT Intuit, Polymarket Intel, and treemarie.