by: Susanne Posel
August 3, 2012
Last month, President Obama placed more stringent sanctions on Iran’s oil sales and financial transactions. And in the next breath, he claimed that because Iran is supposedly developing a nuclear weapon, Obama will “once again reaffirming [the US government’s] commitment to hold the Iranian government accountable for its actions.”
While Israel is threatening to attack Iran pre-emptively to “knock out” nuclear facilities, Benjamin Netanyahu, Israeli Prime Minister asserts that “all the sanctions and diplomacy so far have not set back the Iranian (nuclear) program by one iota And that’s why I believe that we need a strong and credible military threat coupled with the sanctions to have a chance to change that situation.”
Sanctions placed against Iran are directed at their economy and value of their currency because Iran has been using gold instead of the US dollar to trade with other nations for their oil.
Obama’s latest round of sanctions, by executive order, is aimed at preventing “payment mechanisms for the purchase of Iranian oil to circumvent existing sanctions.” By targeting specific banks, Bank of Kunlun of China and Elaf Islamic Bank of Iraq, Obama wants to make sure “transactions worth millions of dollars on behalf of Iranian banks that are subject to sanctions for their links to Iran’s illicit proliferation activities.”
Obama warned that the US will “expose any financial institution, no matter where they are located, that allows the increasingly desperate Iranian regime to retain access to the international financial system.”
Working for the banking Elite, Obama has made his position clear. He is using the might of the US military to stop Iran from further devaluation of the US dollar; and now threatening all other financial institutions and nations that deal with Iran or facilitate payment in any currency other than the US dollar.