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Saturday, January 14, 2012

 The US-Iran Economic War : A WINDFALL OF CASH FOR THE ARABS :-)

Obama in another article has submitted to congress requesting to increase the 1.2 trillion dollars limit it can borrow to cover deficit meaning the U.S. economy is still in the doldrums. This will further increase USA’s debt of more than 16.2 trillion dollars and yet this beast is bullying other nations not to buy Iran’s oil threatening to punish countries paying oil through Iran’s Central Bank. Oil prices are soaring putting more pressure on the world’s economy especially of developing countries while USA/EUROPE becomes an EMPIRE DEBTOR. If Iran survives this embargo; it will turn out to be a blessing in disguise because oil doesn’t get spoiled unlike an organic matter. It can’t be denied we have reached the age of “peak oil” meaning oil is running out. They have to pump sea water into some oil fields in the gulf to push the remaining oil out not to mention resorting to oil fracking in USA that is proving to be an environmental hazard. Embargoing Iran’s oil is comparable to ‘forced hoarding’ for a better price in the future…believe it or not. While the west suffocates under mounting debts; Arab oil producing nations are buried under mountains of cash not knowing what to do with the extra cash but ah; they are spending 123 billion dollars to build roads, bridges and railroads across the Arabian Peninsula. God is still the better planner :-)

QUOTE:
The bottom line is that average Iranians will suffer - as average, crisis-hit, indebted Europeans will also suffer. The US economy will suffer. And whenever it feels the West is getting way too hysterical, Tehran will keep reserving the right to send oil prices skyrocketing. 


The regime in Tehran will keep selling oil, will keep enriching uranium and, most of all, won't fall. Like a Hellfire missile hitting a Pashtun wedding party, these Western sanctions will miserably fail. But not without collecting a lot of collateral damage - in the West itself. 







The US-Iran Economic War

By Pepe Escobar
January 06, 2011 "Asia Times" -- NEW YORK - Here's a crash course on how to further wreck the global economy.

A key amendment to the National Defense Authorization Act signed by United States President Barack Obama on the last day of 2011 - when no one was paying attention - imposes sanctions on any countries or companies that buy Iranian oil and pay for it through Iran's central bank. Starting this summer, anybody who does it is prevented from doing business with the US.

This amendment - for all practical purposes a declaration of economic war - was brought to you by the American Israel Public Affairs Committee (AIPAC), on direct orders of the Israeli Torrents of spin have tried to rationalize it as the Obama administration's plan B as opposed to letting the Israeli dogs of war conduct an unilateral attack on Iran over its supposed nuclear weapons program.

Yet the original Israeli strategy was in fact even more hysterical - as in effectively preventing any country or company from paying for imported Iranian oil, with the possible exceptions of China and India. On top of it, American Israel-firsters were trying to convince anyone this would not result in relentless oil price hikes.

Once again displaying a matchless capacity to shoot themselves in their Ferragamo-clad feet, governments in the European Union (EU) are debating whether or not to buy oil from Iran anymore. The existential doubt is should we start now or wait for a few months. Inevitably, like death and taxes, the result has been - what else - oil prices soaring. Brent crude is now hovering around $114, and the only way is up.
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