War With Iran This Week? Will Markets Implode? Economist Answers | Steve Hanke

Feb 18, 2026

Steve Hanke, Johns Hopkins applied economics professor and currency expert, offers sharp takes on Iran’s partial Strait of Hormuz closure and why markets barely flinched. He analyzes potential oil disruptions and military risks. He also dismisses reports of Russia returning to the dollar and warns that bank deregulation and M2 growth could nudge inflation higher.

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INSIGHT

Israel Shapes U.S. Iran Demands

U.S. policy toward Iran is heavily influenced by Israel's demands, making compromise difficult.
Israel wants Iran's nuclear and missile capabilities severely restricted, which Iran will reject.

ANECDOTE

Persia Isn't Venezuela

Steve Hanke contrasted Iran with Venezuela from his personal experience advising in Venezuela.
He emphasized Iran's resilience and historical continuity compared to Venezuela's situation.

INSIGHT

Dollar Return Report Is Likely A Teacup Tempest

The Bloomberg claim Russia offered to return to dollar-denominated energy settlements is likely false or unverified.
Moscow contacts gave the report a laugh and provided no confirmation.

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🔒 Get 20% off DeleteMe by going to https://joindeleteme.com/DAVIDLIN and use code DAVIDLIN to protect your privacy!And 🔈 Listen to What the Hack?, an award-winning, true cybercrime podcast: https://pod.link/1571482669Steve Hanke, Professor of Applied Economics at Johns Hopkins University, discusses Iran's partial closure of the Strait of Hormuz, dismisses reports of Russia returning to the dollar, and warns that inflation will drift higher as the Fed loosens monetary policy through bank deregulation. Watch Steve's last interview with David, which was a panel also with "America's Economist" Mark Skousen: https://youtu.be/p2-zJZYWhjg*This video was recorded on February 17, 2026.To get 5% off of your CoolWallet purchase, use my link: https://www.coolwallet.io/discount/davidcwSubscribe to my free newsletter: https://davidlinreport.substack.com/Listen on Spotify: https://open.spotify.com/show/510WZMFaqeh90Xk4jcE34sListen on Apple Podcasts: https://podcasters.spotify.com/pod/show/the-david-lin-reportFOLLOW STEVE HANKE: X (@steve_hanke): https://x.com/steve_hankeCapital, Interest, And Waiting: https://shorturl.at/jBed6Making Money Work: https://shorturl.at/TLTHCProfile at The Mises Institute: https://mises.org/profile/steve-h-hankeFOLLOW DAVID LIN:X (@davidlin_TV): https://x.com/davidlin_TVTikTok (@davidlin_TV): https://www.tiktok.com/@davidlin_tvInstagram (@davidlin_TV): https://www.instagram.com/davidlin_tv/For business inquiries, reach me at david@thedavidlinreport.comDISCLAIMER: This video is for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice. Always conduct your own research and consult a licensed financial professional before making any investment decisions.The views and opinions expressed by guests are solely their own and do not represent the views of this channel. Any forecasts or forward-looking statements are based on personal opinions and are not guarantees of future performance.This channel may include sponsors or affiliates. Their inclusion does not constitute an endorsement, and the channel is not responsible for the performance, claims, or actions of any sponsor, affiliate, or third party.No content in this video should be interpreted as a solicitation to buy or sell any securities or assets. Investments carry risk, including the potential loss of principal.0:00 - Intro.0:50 - Iran, the Strait of Hormuz, and regime change14:10 - Russia and the Dollar18:19 - The Dollar and international currencies22:25 - Inflation and affordability27:32 - Labor market weakness and rates36:05 - Bank deregulation#geopolitics #investing #economy