Steve Keen: Geopolitical tensions could trigger global famine, Trump’s foreign policy resembles a pump and dump scheme, and the overlooked role of money in economics | The Diary of a CEO

Geopolitical tensions and Iran's strategic control over the Strait of Hormuz threaten global economic stability.

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Add us on Google by Editorial Team Apr. 6, 2026

Key Takeaways

• Geopolitical tensions in the Middle East, particularly involving Iran, could disrupt global fertilizer supply, potentially leading to a global famine.
• Trump’s foreign policy actions are likened to a pump and dump scheme, with potential market manipulations benefiting his allies.
• Many economists overlook the crucial role of money in the economy, which can lead to significant analytical oversights.
• There is a notable disconnect between public sentiment and political positions regarding Israel, with widespread public criticism of its actions towards Palestinians.
• Iran’s military strategy is robustly structured across its 31 provinces, making it resilient against targeted attacks.
• Israel may have underestimated Iran’s military preparedness, impacting strategic calculations in the region.
• Trump’s manipulation of oil prices highlights the intersection of politics and market dynamics, raising ethical concerns.
• Political announcements, particularly by influential figures like Trump, can significantly impact financial markets.
• The Strait of Hormuz is a critical chokepoint for global oil and gas supplies, with significant geopolitical implications.
• Iran’s control over the Strait of Hormuz gives it leverage over global shipping routes, affecting international trade.
• The geopolitical landscape of the Middle East is complex, with significant implications for global supply chains and economic stability.
• Understanding the dynamics of military strategies in the Middle East is crucial for analyzing potential conflicts and their global impact.
• The role of political motivations in economic actions is a critical area of analysis for understanding global market dynamics.

Guest intro

Professor Steve Keen is a Distinguished Research Fellow at the Institute for Strategy, Resilience & Security, University College London. He is the world’s first rebel economist to predict the 2008 financial crisis years before it happened, using his proprietary data software Ravel©. He has spent over 30 years as an academic and is currently a visiting scholar at the University of Amsterdam.

The impact of geopolitical tensions on global food security

• Iran’s actions could lead to a global famine due to disruptions in fertilizer supply.

• This is straight up almost so oil fertilizer helium all have to pass through the strait of Hormuz and Iran have blocked that gap… but if this is not available the globe has a famine.

  — Steve Keen

• Understanding the geopolitical tensions in the Middle East and their impact on global supply chains is crucial.
• The Strait of Hormuz is a critical chokepoint for global oil and gas supplies.

• It’s the choke point in this Persian Gulf to get through you’ve got like 21 kilometres that’s an incredibly narrow gap for ships to pass through.

  — Steve Keen

• Iran can control the passage of ships through the Strait of Hormuz based on geopolitical relations.

• They can say you do or do not pass depending on whether we approve or don’t approve of your country’s attitude towards our country.

  — Steve Keen

• This insight highlights the strategic importance of the Strait of Hormuz in the context of global supply chains.

Political motivations behind economic actions

• Trump’s actions in the current conflict resemble a pump and dump scheme aimed at benefiting his allies.

• What Trump is doing at the moment is a pump and dump scheme he’s trying to drive up the oil price and exploiting it for his friends and for his own wealth in the process.

  — Steve Keen

• Trump’s manipulation of oil prices highlights potential ethical concerns in the intersection of politics and market dynamics.

• I think what Trump is doing at the moment is a pump and dump scheme.

  — Steve Keen

• Trump’s announcements can cause immediate market reactions, which he exploits.

• We’ve given him control of the most powerful country on the planet he knows if you make an announcement it moves markets.

  — Steve Keen

• This insight provides a critical perspective on the intersection of politics and market manipulation.
• Political announcements by influential figures can significantly impact financial markets.

The overlooked role of money in economic analysis

• Most economists ignore the role of money in the economy, which is a significant oversight.

• It’s a strange thing to hear it’s ridiculous but it’s true… most economists ignore money completely.

  — Steve Keen

• This highlights a critical gap in mainstream economic thought.
• Understanding the traditional economic theories that often overlook monetary dynamics is essential.
• The importance of money in economic analysis cannot be overstated.
• This oversight can lead to significant analytical gaps in understanding economic trends.
• Keen’s perspective emphasizes the need for a more comprehensive approach to economic analysis.
• This insight reflects Keen’s expertise in identifying critical issues in economic thought.

Public sentiment versus political positions on Israel

• There is a significant disconnect between public sentiment regarding Israel and the positions taken by politicians.

• There’s a huge gap between what politicians are saying about global politics and what people in the street are saying about it.

  — Steve Keen

• The general sentiment in most countries today is critical of Israel’s actions towards Palestinians.

• The general sentiment in most countries in the world today is anti-Israel because of the way it’s treating the Palestinians.

  — Steve Keen

• Understanding the political landscape and public opinion regarding Israel and Palestine is crucial.
• This insight highlights a critical societal issue, reflecting the disparity between political rhetoric and public sentiment.
• The disconnect between public and political perspectives can impact international relations.
• Keen’s analysis provides a nuanced understanding of the geopolitical dynamics involving Israel.

Iran’s military preparedness and strategic resilience

• Iran’s military preparedness is structured around its 31 provinces, making it resilient against decapitation attacks.

• The Iranians observe that and they have broken their military into 31 divisions.

  — Steve Keen

• This structure provides Iran with a robust defense mechanism against targeted attacks.

• They’ve got their own failsafe system running in the background.

  — Steve Keen

• Israel underestimated Iran’s military capabilities and preparedness for conflict.

• They thought they could get the Americans in there and I think they drastically underestimated how prepared Iran was for this situation.

  — Steve Keen

• Understanding the historical context of military strategies in the Middle East is crucial.
• This insight provides a detailed explanation of Iran’s military strategy and preparedness.

The strategic significance of the Strait of Hormuz

• The Strait of Hormuz is a critical chokepoint for global oil and gas supplies.

• It’s the choke point in this Persian Gulf to get through you’ve got like 21 kilometres.

  — Steve Keen

• Iran can control the passage of ships through the Strait of Hormuz based on geopolitical relations.

• They can say you do or do not pass depending on whether we approve or don’t approve of your country’s attitude towards our country.

  — Steve Keen

• This claim underscores the leverage Iran has over global oil and gas markets.
• Understanding the geopolitical significance of the Strait of Hormuz is essential for analyzing global trade dynamics.
• The strategic importance of this chokepoint cannot be overstated.
• This insight highlights the potential impact of geopolitical actions on global supply chains.

The intersection of politics and market dynamics

• Trump’s manipulation of oil prices highlights potential ethical concerns in the intersection of politics and market dynamics.

• I think what Trump is doing at the moment is a pump and dump scheme.

  — Steve Keen

• Trump’s announcements can cause immediate market reactions, which he exploits.

• We’ve given him control of the most powerful country on the planet he knows if you make an announcement it moves markets.

  — Steve Keen

• This insight provides a critical perspective on the intersection of politics and market manipulation.
• Political announcements by influential figures can significantly impact financial markets.
• Understanding the political and economic implications of Trump’s actions on oil markets is crucial.
• This analysis emphasizes the power of announcements in financial contexts.
• Keen’s perspective highlights the need for ethical considerations in political-economic actions.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.