Monday, July 1, 2019

What Trump Has Wrought on Iran

Thanks to Trump, the Euros have created an alternative banking system to get around American sanctions on Iran.
The governments of France, Germany and the United Kingdom have developed a special purpose vehicle (SPV) to enable European businesses to maintain non-dollar trade with Iran without breaking U.S. sanctions. That SPV, known as INSTEX, is now up and running.
Note that Russia, China, Japan and other countries are interested in joining INSTEX.

What this may lead to is a long-held goal of the EU, the Russians and the Chinese: Replacing the dollar as a global currency. Trumps grandstanding and going-it-alone on Iran may very well hasten that happening.

Good job, Donnie.
on or about

2 comments:

  1. re the paragon7/01/2019 10:35 PM

    That's odd. He doesn't seem to be making America great again. Unless he thinks that America has to be torn down first, in order to meet the "again" part of the slogan.

    ReplyDelete
  2. re the paragon7/01/2019 11:41 PM

    CM, a stylistic quibble. Based on the linguistic precedent established way back in the dark days of the W Bush maladministration, one is supposed to say "heck of a job" when discussing a screw up.

    ReplyDelete

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