By Ziad Daoud, Dina Esfandiary, Jamie Rush, Jennifer Welch, and Tom Orlik
Bloomberg News
Tuesday, March 3, 2026
President Donald Trump's war with Iran threatens to deal a severe blow to a global economy still grappling with the impact of his historic tariff hike.
For Europe, sustained higher energy prices would take the economy to the brink of recession. For the United States, they would place the Federal Reserve in an impossible position -- stuck between a war that pushes inflation higher and a president demanding that interest rates come down. For China, the end of discounted Iranian oil imports adds to strain from Trump's tariffs and a real estate collapse.
... Dispatch continues below ...
... ADVERTISEMENT ...
Ultra-Secure Swiss Vault Storage from Tara Gold and Silver Ltd.
Tara Gold is delighted to announce the launch of our ultra-secure gold and silver secure storage service [1].
GATA followers can now own gold and silver coins and bars -- including the Gold and Silver Trees of Life — with fully segregated, allocated holdings in one of the safest vault providers in Switzerland and the world.
All coins and bars are held in your name. Not a paper claim. Not someone else's liability. Real, physical precious metals you can visit, inspect, take delivery of, or sell at any time.
Safety, Trust & Privacy: Our Swiss storage partner is Helveticor AG in Zurich. Tara Gold's Mark O'Byrne, after extensive international due diligence, served as Helveticor's global ambassador for two years and stores metal with them personally. He has known the owners and senior staff for 20 years and trusts their vaults implicitly. Your metals there are fully insured and held outside the banking system — no counterparty risk, no digital risk, and no fractional reserving, with complete discreetness and privacy.
Liquidity: Switzerland is a primary hub for precious metals. You can sell quickly and competitively, with proceeds transferred directly to your bank account.
Tax Efficiency: Gold and silver in Swiss-bonded vaults are exempt from sales taxes. You pay only if you remove bullion from Switzerland.
For holdings of $100,000 or more, the combination of security, privacy, liquidity, and tax efficiency makes this a compelling international diversification.
For rates, application forms, and all key information, visit here [1] or contact GATA supporter Tara Gold and Silver Ltd.'s Mark O'Byrne at mark@taracoins.com [2] or +353-12641850.
In the first days of the fighting, the intensity is high and the endgame uncertain. Bloomberg Economics has modeled scenarios for what lies ahead, and what they mean for oil prices, major economies, and the future of Iran. ...
... For the remainder of the report:
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
https://tinyurl.com/3xt6uw66 [4]
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
http://www.gata.org/node/16 [6]
Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png [7]
