What has Obama gotten us into now? Obama has chosen to use sanctions on Iran to bend them to our will, even though there is little evidence to suggest sanctions work. It’s a favorite tool of liberals, because no troops get killed and Congress doesn’t have to declare war. The goal has been to get Iran to give up its nuclear weapon program, thus punishing sanctions. The new sanctions effective June 28th target sales of oil and prohibit any trade with Iran in U.S. dollars.
China, Iran’s largest trading partner, and biggest importer of Iranian oil objected to Obama’s sanctions “…saying Saturday (March 31st)Â that Washington had no right to unilaterally punish other nations.”
China in response rejects the sanctions and countered saying it “… will look to buy the Iranian product using gold to circumvent Washington’s policy.”
Remember when Bernanke said that Gold is not money? China has just told the U.S. and Bernanke that Gold is money! James Sinclair in an interview on KIng World News believes that there’s a big risk that the nations of the world will wake one day and say that the fiat U.S. dollar is not money and suddenly Gold is $3,000 bid, none offered.
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