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Law, culture, and Catholicism...up in smoke!

Sunday, July 25, 2010

Bombing Iran is the Latest

With the failure of the green color revolution there last year, and with the failure of the architecture to plummet the euro earlier this year, thanks in most part to an executive order by Merkel banning naked shorting (i.e. banning CDS and CDO positions on bonds -- derivatives) with no time for the investment and hedge funds to unwind (unlike the 12 years our congress just gave to unwind), this is a difficult time for Wall Street to effect a beggar thy neighbor shift of toxic derivative soup.

Time for the old dollar overhang on oil  Worked in the 70s.  The NIE of 2007 is being reviewed and there's good reports that while Medvedev was visiting the U.S., Obama presented evidence by way of intelligence reports that Iran has enough yellow cake for two bombs.  Hence, we've returned to the Brzezinski plan to work over Russia.  We've also admitted some defeat in the currency battles of 2008.  Some interpret Russia's continuance to allow energy projects in Iran to be at odds with the projected statements of disappointment that it has yellow cake.  But alas, Russia has withheld the shipment of some SA300 supersonic surface to air missiles thus showing a reasonable and consistent front.

Meanwhile, other preparations, such as strong arming China into approving sanctions against the erstwhile Persians and Hilliary's recent trips to countries absent in the U.S. halo countries forming a ring around Iran, such as Azerbaijan, all spell a pretty interesting October surprise.

Add to the factors, that when we did this in the 70s, the issue was a pretense to raise oil prices.  Add the necessity of the Wall Street interests to reach barrel prices of $500-$1000/barrel in order to dump the quadrillions of dead paper they've netted, and it's an interesting proposition.

Hopefully, this plan gets rooted out as well as the PIIGS/Euro crash was.