yesterday I was watching the news around the globe and to me it looks like the “media barrage” about the humanitarian catastrophe in Iraq (well you have to be precise…otherwise there could be the one in Gaza, Ukraine, Libya, Syria (in double siege from Assad forces and the Islamic State) and Lebanon (with Syrian refugee)…but none of them are close to the new Chevron 444.000 acres oilfield in Irbil- sorry).
UK and France are drumming the worst case scenario.
Tony Abbot is so willing that could almost send us alone (interestingly in a different interview the Retired General of the Australian SAS sent a clear message: politicians stay out of it – you simply do not understand that this is a climax of things 600 years in the making).
This morning I read that the US Deputy National Security Advisor Rhodes said that the US could consider sending troops on the ground to help the Yadiziz (and Chevron – well he did not tell that).
That would make IS very happy…not ironically – really happy because
– very good marketing – now they feel they are really a caliphate threatening the status quo if everybody fight them. More recruits will come to them specially from Egypt and the Balcans.
– They could capture some Western soldiers
– They are not extremely scared as a lot of them already fought the Americans in Iraq and come from years of fighting Assad
I bet the market will not take it happily. But until the US mid term election the Fed (Nov 2014) probably will rescue any downfall.
Update: it happened ABC News US says US Marines, USAID and US Special Forces landed briefly on Mt Sinjar, Iraq
investorpolitico 