Saudi Arabia Prepares for World War 3

Saudi Arabia Prepares for World War 3

Saudi Arabia Prepares for World War 3

In a lightening reshuffle Saudi Arabia has made Crown Prince Mohammed bin Salman the country’s aggressive defense minister the new heir to the throne, he believed to be the mastermind behind the war in Yemen that has brought the country to the brink of a humanitarian catastrophe. He also leads an economic council aiming to boost the Saudi economy, and has made overseas state visits to Russia and the United States.

Mohammed bin Salman has made aggressive remarks against Iran during an interview a in May, noting that there were no grounds for understanding between Riyadh and Tehran to be discussed in any possible negotiations. He also claimed that Iran was planning to take over the Islamic world, adding that Saudi Arabia would not wait for Iran to turn it into a war zone, but would rather take the war to Iran.

Iran has accused Saudi Arabia and by extension the US of having a hand in the deadly terror attacks in the heart of the Iranian capital. With Tehran now warning of revenge, the Middle East is on the brink of all-out war. Iran’s intelligence has accused both the US and Saudi Arabia of “involvement.” The Islamic Revolutionary Guards Corps – Iran’s elite military force – has vowed revenge. Saudi Arabia denies involvement.

Crown Prince Salman led the airstrikes on Houthi rebels in Yemen, although he copped a lot of criticism for it: governments and human rights groups say many civilians are killed in the massive attacks.

In the latest incident, Tuesday, the EU voiced concern over last week’s market strike which left some 25 people killed in northern Saada province. All in all, the Saudi-led offensive has caused some 10,000 civilian deaths over more than two years of conflict.

According to a Wednesday royal decree, “a majority” of top royal members of the Allegiance Council backed altering the line of succession, with Saudi Arabia’s state TV saying that 31 out of 34 people voted in favor.

The Allegiance Council consists of sons and grandsons of the Saudi state’s founder, King Abdul-Aziz. They vote to choose the king and the crown prince among themselves.

 

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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