Iran Deal and US Dollar reserve currency status

[TGHusker]

Here is a game changer. Kerry points out that nations might revolt if the USA backs out of the Iran deal and the US dollar could lose its status as a world reserve currency.
I'm not an economist and perhaps someone who is or more knowledgeable could explain what would occur. But my take (limited economist background here) is that I say this would a game changer as it will affect everything in our economy. If countries dump our $$s, hyper-inflation would occur due to the influx of $$s into
the market.


http://www.reuters.com/article/2015/...0QG1V020150812

So my question is - who is blackmailing whom here:
1. China & Russia in support of Iran are blackmailing the USA knowing this is our Achilles heel. They may prefer an alternative basket reserve currency (BRIC) or China's own Yuan, not tied to the $$.
http://www.wsj.com/articles/momentum...ncy-1427926918
http://blogs.ft.com/beyond-brics/201...ve-currencies/

2. Kerry blackmailing Congress wt his rhetoric - warning that Congress will be fully to blame if we back out of the deal and bad things happen. (which may be true enough)

3. All of those gold companies trying to get us to buy gold via all of the national radio talk shows, etc- they paid Kerry to state this to revive the falling gold prices.

[Scratchtown]

Isn't silver going up though? I've heard that the silver market is booming.

 

I find it ironic that I am reading this when just 2 weeks ago my tinfoil hat wearing father in law told me that the economy is gunna crash in Sept, and told me to start getting money out and invest in silver, and coins.

I mean, if the world starts to dump the dollar, then doesn't that make our econ go boom?

[ZRod]

China wants to mess around, we put tariffs on them. When your largets/2nd largest trading partner doesn't want your goods, that's going to hurt.

[deedsker]

Currently the dollar is on a tear and is stronger than we have seen in what 10-20 years? The British Sterling is the only major currency not to waver to the dollar significantly in the last 12 months. I guess I don't see where this is coming from or is a far out theory that is only slightly probably.

[TGHusker]

Getting back to the IRAN deal itself, I came across this article

 

http://freebeacon.com/national-security/kerry-promises-israel-saudis-money-in-wake-of-iran-nuclear-deal/

 

So the Military Industrial Complex is assured of greater sales as we now need to beef up our friends (Israel, Saudis, etc) to calm their fears of the deal. Sending billions of $$s that we don't have (could use here in the USA) to assist others who are fearful of our "treaty" wt Iran.

But what gets me is this: No stopping of Iranian terror efforts, no release of Americans held in Iran. We sign a deal with no strings to Iranian behavior where it counts the most - terrorism and releasing our citizens. So, as others predicted, we'll have a new arms race in the Middle East - just where we need it. ISIS has billions of equipment left behind by Bush's great adventure, and now we will need to spend billions more to help our friends - while freeing up $150billion to be given back to Iran - which will gladly spend it on their own military development and supporting terrorism. The tangled webs that we make - this involving several administrations.

 

 

a portion of the article:

Secretary of State John Kerry on Wednesday moved to reassure Congress that Israel and America’s Gulf State allies would be fully taken care of in the wake of the Iran nuclear deal, which Kerry acknowledged would not stop Iran’s support for terrorism, according to a letter sent by the secretary of state to lawmakers.

Just moments after the White House secured enough votes to override a congressional veto of the Iran deal, a letter from Kerry appeared in the inboxes of congressional offices across Capitol Hill.

Kerry admits that, despite the deal, Iran will continue to back terrorist groups across the globe and promises to boost military support and funding to Israel and Gulf states such as Saudi Arabia, according to a copy of the letter obtained by the Washington Free Beacon.

[zoogs]

Those other things are important, too. But not as important as cutting off the current pathway to Iranian nuclear capability. You can't always get everything you want, and you aren't always in position to force it.

[BigRedBuster]

That is if we actually do stop them from getting them.

[zoogs]

In the long, long run? We probably won't. The nuclear cat is out of the bag.

 

That doesn't mean there isn't value (or even necessity) in cutting off the short term path that was becoming the status quo. Not even war would have stopped that.

[TGHusker]

Hope some day the sane people in Iran will rise up and over throw the nuts in control.

[zoogs]

Hope some day the sane people in Iran will rise up and over throw the nuts in control.

 

You and me both!

[TGHusker]

http://www.timesofisrael.com/khamenei-israel-wont-survive-next-25-years/

 

Isn't this an encouraging statement as the Senate votes on the Iran deal! Oh, and he calls the USA the Great Satan again.

[BigRedBuster]

http://www.timesofisrael.com/khamenei-israel-wont-survive-next-25-years/

 

Isn't this an encouraging statement as the Senate votes on the Iran deal! Oh, and he calls the USA the Great Satan again.

Wonderful.....

 

I wish the feelings of the Iranian public would actually come through their leaders.

[zoogs]

Obama called them terrorist-sponsoring and (I believe) evil. The rhetoric continues.