Iranian control of the Strait of Hormuz is an event of massive historical significance
Throughout human history, nations that controlled the trade routes, controlled the world. The Minoans, the Phoenicians, the Greeks, the Romans, the Vikings, the Spanish, the British, the Americans -- they all achieved the apogee of their power, by controlling the seas, the routes of trade, the means of acquiring and transferring wealth, and goods. In particular, the Ottoman Empire transformed itself from a regional power, to a world superpower, by conquering Constantinople, at the isthmus of the Dardenelles, the route to the Black Sea, and thus cutting off the West from the trade routes to Russia, India and China.
It may be happening again.
The real and critical consequence of the current Iran war, is proof that Iranian drones and missiles are cheap enough, and effective enough, to defeat the most advanced and expensive weapons systems in the world, including those fielded by the US and Israel. Most changes in power dynamics in world history are caused by advances in weapons systems by new powers, who thus overtake and conquer the old powers. We may be witnessing one, right now. While Israel and the US are babbling about "winning overwhelmingly", Iran has systematically shut down the middle east, and hobbled the entire world economy. Thus, Iran has acquired immense power, a power only slightly and occasionally being acknowledged by the West. We may, actually, be witnessing the birth of a new Persian Empire, a new superpower.

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