Treasury Secretary Steven Mnuchin said that unlike Obama's 2013 Iran blockade, it would be harder for countries to get waivers on Iran oil sanctions as the US is already working on disconnecting Iran from the SWIFT network and dismissed concerns that oil prices could rise, saying the market had already factored in the output losses.
Speaking in an interview with Reuters in Jerusalem on Sunday at the start of a Middle East trip, Mnuchin said countries would have to reduce their purchases of Iranian oil by more than the roughly 20% level they did from 2013 to 2015 to get waivers. "I would expect that if we do give waivers it will be significantly larger reductions," said the US Treasury Secretary.
Read more ....
Update: US Treasury in Talks Over Disconnecting Iran From SWIFT Amid Sanctions (Sputnik).
WNU Editor: The Trump administration's decision to push for the disconnection of Iran from SWIFT is big news. It will cripple Iran's banking networks from doing international business .... nothing less and nothing more. This move also confirms fears that the Trump administration has made the decision to weaponize the dollar, and will now use the reserve currency as a global bargaining chip in getting its way on issues like Iran. Here is an easy prediction. There is going to be blow-back from every major country in the world on this U.S. decision.
3 comments:
REGIME CHANGE!!!!!!!!!!!!!!!!!!!!!!
I can see John Bolton's chubby from across the ocean he's so excited for another a pointless, endless, useless war in Asia.
The US dollars role as the reserve currency started in the 1970's and in my mind lead directly to these vast federal budget deficits the US has created. The world's demand for dollars is insatiable so the US govt can print at will to finance our debt to US Treasury bond holders. Prior to that era, the US govt had to worry about high inflation if the US printed too many dollars. Now it doesn't.
Ending its reign as the global reserve will cause a depression in the USA, unseen since the 1930's as inflation explodes, debt costs to the US govt explode and no way for the US govt to debt finance its way out as entire generations of US citizens have become accustomed too. The entire world will suffer a similar fate.
Paper money and coinage made from industrial metals for sale by the ton at low prices is an idea I have gone along with all my life but this compliance is a matter of convenience, not understanding.
I've read that a dollar's value comes from some value created. Does my grandfather's value created early last century while working on the railroad still exist? And the trust spoken of that is necessary for a dollar to be exchanged for a candy bar??? If I'm real hungry, I'll take a can of Campbells soup before I'd take a piece of paper.
I don't get this money thing. It's right up there with where does the universe end.
A baffled Roger. By the way, I've a real nice aggie shooter with no chips that I'll trade you for 14 cat's eye marbles. [for those who played marbles when they were young]. The rest of youse, google it.
Post a Comment