The U.S. Dollar: A Victim of Its Own Success

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America’s most powerful weapon of war does not shoot, fly or explode. It’s not a submarine, plane, tank or laser. America’s most powerful strategic weapon today is the dollar.

The U.S. uses the dollar strategically to reward friends and punish enemies. The use of the dollar as a weapon is not limited to trade wars and currency wars, although the dollar is used tactically in those disputes. The dollar is much more powerful than that.

The dollar can be used for regime change by creating hyperinflation, bank runs and domestic dissent in countries targeted by the U.S. The U.S. can depose the governments of its adversaries, or at least blunt their policies without firing a shot. Continue reading

Turkish actor in US admits selling nuclear technology material to Iran

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A former Turkish actor, detained in New York for illegally selling to Iran a restricted metallic powder used in missile production, pleaded guilty on June 15.

Erdal Kuyumcu, 44, the chief executive of Global Metallurgy LLC, pleaded guilty in a Brooklyn federal court on June 15 to deliberately violating the International Emergency Economic Powers Act (IEEPA), which limits trade with Iran.

The indictment said Kuyumcu collected more than 450 kilograms of cobalt-nickel metallic powder, which is used in aerospace, missile production and nuclear applications, to export them to Iran. Continue reading