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Americans, Europeans, the mob mindset!
Since the Iran hostage crisis, hatred between the U.S.A and Iran envenomed their relationship. The pictures of the burning of the American flag had traveled around the planet, had the weight, to the American people, of a declaration of war. The Bush administration counted on the American solidary demeanor fueled by the patriotism card to champion the offensive propaganda directed against reticent Iraq and Iran. How many of us knew that Iraq was working on the euro to be the currency for oil trading? It is almost like a vitriolic attack to the face of the U.S. supremacy. As the euro was superior to the dollar, it would have affected the U.S. oil import tremendously. Was it one of many determining factors for action, Joe?
The only valuable argumentation to their defense, I'm afraid so, and a poor one, was one possessed weapons of mass destruction, the other has too much enriched uranium for military purpose. Who would win a case with such a pleading? Only in America! Both had too much oil and took their distance in their bilateral relationship with the U.S. if ever there were any. Hearsay vetoed by the Congress led to war, reflecting a spoiled legislative branch. Notice that the people have no say in this matter! The propaganda led to the quarantine of both. Contrary to our opinion, thanks to the revelations in Wikileaks, Iran aimed at improving its relationship with the U.S. which is not at its interests. Does it remind you of another country's strategy in that matter? As "little sis" Israel, we always have to appear to be the "just".
It is easier to have Iran perceived as an enemy, with in the back of the mind the war to step in its wealth for free conformingly to Iraq, than to develop a friendship that will impose its price on a commodity that is depleting and that will, economically, gain value as we will go forward in the future. Economics say so. Naturally, western countries demonize it for the wrong reason (controversial nuclear program) and consequently are taking extreme measures such as limiting its trading through the banking system. Banks allowing transactions involving the oil sector will be scolded at, the resulting assets will be frozen. Countries with a lower GDP that don't have the power either to think (why would poorer countries pay for the American foreign policy?), either to act for themselves like China (has America's debts in its hands) will undergo privations.
An IMF figure of $ 81 billion revenues in 2010 will draw an exact picture of the stakes at play. 80% of Iranian exports are petroleum. Wasn't Iraq subjected to an oil embargo too? The Iranian Oil Bourse (equivalent to the NY stock exchange) has in its basket all major currencies beside the dollar (isn't it a good reason for the U.S. to condemn Iran?). If for whatever reason the U.S. could access the market the bill would be inflated, first because the commodity would rise, secondly it would have to convert its currency to another and loose not only in value but in a higher propensity to purchase. What about the viability of its exporters, importers if trading is blocked especially energy dependent nations? What will be their recourse? China feels confident but what will be the repercussions on countries such as Japan, South Korea that are manipulated by the U.S.? How many 7-Eleven will you find in Europe (none), in Korea (too many)?
The world has engaged, once more without the consent of its people, in a massive diplomatic (embassies are slapping doors), economic (embargoes are enforced), military (the U.S. launches discrete drones, Israel prefers to implant internet viruses) attacks against Cyrus's heritage. Not that I have any attachments with Iran but my conscience feels obliged to defend a country that is the object of a collective lynching, that is stabbed on whatever exposed flank by Saudi Arabia, Israel and the U.S.A. Now, Europe is rallying the bandits waiting for the right moment to ambush the rich merchant. I guess it is the right moment. What is their price to pay? Whatever the motivations contemplated, the perspective of a financial bailout, of a financial relief from the IMF..., the weapon was persuasive. However, how will Europe last without Iranian oil? Or, will they be hypocritical and not sanction the oil industry?