printCNN’s inane wishy-washy Fareed Zakaria boasted the other day about the foreign-policy achievements of Barack Obama. Since the president’s reign of terror abroad began, the Iranian currency had lost 65 percent of its value. Like all fixtures of mainstream media, Zombie Zakaria has some appetite for destruction.
So how is Obama accomplishing this great feat against innocent Iranian economic actors? Via RT:
US wants Iran evicted from SWIFT [Society for Worldwide Interbank Financial Telecommunication], an independent financial clearinghouse that is crucial to the country’s oil sales. This could immediately cripple Tehran’s financial lifeline, but would come with its own costs for the world economy.
Iran’s eviction from SWIFT could drive forward the current slow pressure campaign of sanctions aimed at persuading Iran to drop its nuclear program. It might also buy time for the US to persuade Israel not to launch a pre-emptive military strike on Iran this spring.
The bitter truth is, the plan might actually backfire on western nations themselves as it could send oil prices soaring and undercut the reputation of Society for Worldwide Interbank Financial Telecommunications (SWIFT). The Brussels-based organization is a banking hub used by virtually every nation and corporation around the world. …
More than 40 Iranian banks and institutions use SWIFT to process financial transactions, and losing access to that flow of international funds could badly damage the Islamic republic’s economy. It would also probably hurt average Iranians more than the welter of existing banking sanctions already in place since prices for household goods would rise while the value of Iranian currency would drop.