With the US midterm elections over, Trump is likely to take action against Iran—90% probability! This isn't speculation; the knife is already on the bowstring. First, the military is in position. The US and Israeli militaries have already drafted strike plans, targeting Iranian energy facilities and nuclear programs. The US military is on standby, ready to launch a high-intensity strike within 96 hours. Second, the political motive has materialized. He didn't strike before the election to avoid soaring oil prices dragging down his campaign. Now that the election is over, he's no longer under immediate electoral pressure. If the Republican Party's prospects are unfavorable, he needs an external conflict to demonstrate strength and divert attention from other issues. Third, the brakes have been removed. After the Israeli elections, Netanyahu or the transitional government can issue the order at any time. The US has no reason to restrain Israel anymore. The only variable isn't "whether to strike," but "how big to strike." It's highly likely to be a short-term, high-intensity, limited strike to force Iran to the negotiating table. However, for financial markets, if the US, Iran, and Israel were to engage in renewed conflict, the outcome would be the same: Soaring oil prices → reignited inflation → the Federal Reserve forced to raise interest rates → further tightening of global liquidity → US stocks, Bitcoin, and other risky assets would all be dragged down. If we consider the drain on global liquidity caused by the 10-year US Treasury yield of around 5%, then the volatility of financial markets would be even more severe. After November 3rd, the fighting in the Middle East could be the death knell for global capital markets. Are your portfolio positions prepared for this ticking time bomb?