Iran Sanctions Are Damaging The Dollar

Iran

 

Painful sanctions on Iran have demonstrated the long reach of the U.S. Treasury, forcing much of the globe to fall in line and cut oil imports from Iran despite widespread disagreement over the policy. Yet, we are only in the first few chapters of what may ultimately be a long story that ends with the erosion of the power of the U.S. dollar.

The role of the greenback in the international financial system is the reason why the U.S. can prevent much of the world from buying oil from Iran. Oil is traded in dollars, and so much of international commerce is based in dollars. In fact, as much as 88 percent of all foreign exchange trades involve the greenback. Continue reading

Obama said to plan controversial nuclear weapons executive order during last days in office

Taking away America’s “no first use” policy means that America has to be nuked first before it can respond with tactical nuclear weapons itself.

 

As he nears the end of his second term, U.S. President Barack Obama is reportedly preparing a series of executive orders that officials said would weaken the U.S. nuclear deterrent.

Obama, in meetings with national security Cabinet members known as the Principals Committee, reviewed his options for executive actions on nuclear policy. None of the options require formal congressional approval. Continue reading

Obama Could Reduce Nuclear Arsenal Without Harming National Security: Disarmament Expert

WASHINGTON, October 20 (RIA Novosti) – The United States could securely reduce its nuclear arsenal below the new START agreement numbers through a unilateral action by President Barack Obama, without congressional authorization and without similar actions taken by Russia, Gaukhar Mukhatzhanova at the Center for Nonproliferation Studies said Monday.

“In terms of things the US administration could do without the Senate… President Obama could go back to the June [2013] statement about the possibility of further reductions,” said Mukhatzhanova at the annual meeting of the Arms Control Association (ACA) in Washington, DC. Continue reading