2. It was suspected Iran would shut the strait in a conflict. Its ability to enforce the closure was question. Iran has now proven it can enforce control of the strait and American can’t do anything about it.

3. The negotiation plans mentions nothing of denuclearization. Iran doesn’t even need a nuclear deterrence now they have proven that closing the strait works so well.

4. The regime didnt collapse, leader replaced by the more hardline son. Command and control continued to function despite attempted decapitation.

5. Iran inflicted billions of dollars worth of damage to US assets forcing US soldiers to flee and reside in hotels.

6. Despite taking a pounding by America for over a month they can still target and destroy local targets as retaliation as they proved yesterday by striking large Saudi petrochemical plant and striking in the heart of Israel.

Any Iranian leadership whose brains are not made of sawdust will use that money to race to a nuclear weapon. Clearly, we are in an era where the only reliable nuclear umbrella is locally sourced and homegrown. Expect a dominant geopolitical theme to be proliferation as every state that feels somewhat threatened boots up a nuclear weapons program. From ~9 states today, we should expect to see ~30 within the next 10-15 years.