Re: The US pulled out of Iran Nuclear Deal because it's too broke

["Dave Farber" <farber () gmail com>]

Begin forwarded message:

> From: Dewayne Hendricks <dewayne () warpspeed com>
> Date: May 11, 2018 at 3:05:18 PM EDT
> To: Multiple recipients of Dewayne-Net <dewayne-net () warpspeed com>
> Subject: [Dewayne-Net] Re: The US pulled out of Iran Nuclear Deal because it's too broke
> Reply-To: dewayne-net () warpspeed com
>
> [Note:  This comment comes from reader Randall Head.  DLH]
>
> From: rvh40 () insightbb com
> Subject: Re: [Dewayne-Net] The US pulled out of Iran Nuclear Deal because it's too broke
> Date: May 11, 2018 at 1:49:57 PM EDT
> To: dewayne () warpspeed com
>
> > The US pulled out of Iran Nuclear Deal because it’s too broke
> > By Dmitry Orlov
> > May 11 2018
> > <http://cluborlov.blogspot.com/2018/05/the-us-pulled-out-of-iran-nuclear-deal.html>
> > ...
> >
> > A sudden liquidation of this size would have punched an irreparable hole in the dollar system, which hinges on the 
> > ability to sell huge >quantities of US treasury paper on the international market. The Iranian liquidation of dollar 
> > assets would have come at a time when the US >is in dire need of foreign debt buyers, the demand is soft, and 
> > liquidity at the primary dealers for US debt is at record lows. It might >have been enough to trigger a run on the 
> > US dollar as everybody dumped their treasury paper and lead to the collapse of the entire scheme >by which the US 
> > robs the rest of the world by forcing it to continuously buy up its debt.
>
> Iran is a member of OPEC.  As such, all of its petroleum sales have been in exchange for US Dollars, since 1945. 
> (That agreement dates to 1945, between FDR and Ibn Saud).
>
> There is some five trillion dollars of Forex volume every day.  
> <https://www.fxstreet.com/education/volume-in-the-forex-markets-useful-or-not-201703091034>
>
> A couple hundred billion, more or less, is a blip on a Bloomberg terminal screen.
>
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