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The American Empire in a Changing World



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Tuesday, January 17, 2012

Pepe Escobar: "Sinking the Petrodollar in the Persian Gulf"

another must read from pepe........read more from tomdispatch....


"These days, with a crisis atmosphere growing in the Persian Gulf, a little history lesson about the U.S. and Iran might be just what the doctor ordered.  Here, then, are a few high- (or low-) lights from their relationship over the last half-century-plus.


In more than 50 years, America’s leaders have never made a move in Iran (or near it) that didn’t lead to unexpected and unpleasant blowback.  Now, another administration in Washington, after years of what can only be called acovert war against Iran, is preparing yet another set of clever maneuvers -- this time sanctions against Iran’s central bank meant to cripple the country’s oil industry and crack open the economy followed by no one knows what."


"Translation, if any was needed: in the near future, with the Europeans out of the mix, virtually none of Iran’s oil will be traded in dollars."

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