America Lives to Fight Another Day
November 26, 2013
The Common Sense Show
The American people just averted a major short-term disaster. Don’t pop the champagne corks, there is nothing to celebrate except that we live to fight another day with our declining dollar temporarily intact, but only for a very brief time.
Let’s Make a Deal
In a new deal between Iran and the US, it now appears that Iran will be allowed to repatriate $4.2 billion in frozen assets. The agreement reached between the US and Iran will provide “incentives” for Iran as the US will pay $400 million for the tuition of Iranian students studying abroad. The agreement will also suspend sanctions against Iranian gold that it obtained through oil sales and made concessions to Iran’s auto industry.
While Iran will be allowed to buy and sell precious metals, most notably gold, it will be barred from accepting them as payment for oil. Iran sits on the world’s fourth-largest proven oil reserves.
The enormity of this agreement cannot be overstated. I am not one to praise this president, however, with one agreement, Obama has managed to TEMPORARILY save the dollar, avert WWIII and he saved his presidency in the process.
Obama appears to have saved the dollar by getting Iran to agree to not sell oil for gold. Long live the Petrodollar and the Obama presidency.
All we need now is for Neville Chamberlain to get off a plane and hold up a sheet of paper and state “that we have peace in our time”. Today’s agreement forestalls martial law and WWIII, but does not stop it.