Every single day that the Strait of Hormuz is closed, the damage that is being done to the global economy is getting even worse. But the full consequences of the global oil crisis that we are facing will not be felt for a while because nations all over the globe are still running through their strategic oil reserves. And the full consequences of the global fertilizer crisis that we are facing will not be felt until harvest season. So don't judge the severity of this emergency by what we are experiencing at this moment, because the truth is that what we are experiencing at this moment is just the very small tip of a very large iceberg.

This week, it appears that more people out there are starting to understand that the Strait of Hormuz is not going to be reopened any time soon.

On Wednesday, President Trump explained that he is not going to lift the U.S. naval blockade of Iranian ports until Iran agrees to give up their nuclear program…

US President Donald Trump told Axios that he would keep Iran under a naval blockade until Tehran agreed to a deal addressing US concerns over its nuclear program.

"The blockade is somewhat more effective than the bombing," Trump was quoted as saying. "They are choking like a stuffed pig. And it is going to be worse for them. They can't have a nuclear weapon."

Trump said Iran wanted a deal to lift the blockade, but added he did not want to do so unless Tehran was prevented from obtaining a nuclear weapon.

"They want to settle. They don't want me to keep the blockade. I don't want to [lift the blockade], because I don't want them to have a nuclear weapon," he said.

But Iran is not going to give up their nuclear program.

In fact, a member of Iran's Supreme Council of Experts has stated that it is "forbidden to hold any negotiation on the right to enrich uranium"…

Ahmad Kaveibi, member of Iran's Supreme Council of Experts:

"It is forbidden to hold any negotiation on the right to enrich uranium. This issue falls outside the negotiation's framework. This contradicts the position of the Supreme Leader and is forbidden from a jurisprudential standpoint."