Tensions in the Persian Gulf are reaching a point of no return. In recent weeks, six oil tankers have been subjected to Israeli sabotage disguised to look like Iranian attacks to induce the United States to take military action against the Islamic Republic. Some days ago Iran rightfully shot out of the sky a US Drone. In Yemen, the Houthis have finally started responding with cruise and ballistic missiles to the Saudis’ indiscriminate attacks, causing damage to the Saudi international airport of Abha, as well as blocking, through explosive drones, Saudi oil transportation from east to west through one of the largest pipelines in the world.
The Fed and the defense of the dollar
The threat of causing a conflict in the Persian Gulf, and thereby making the price of oil soar to $300 a barrel, will not save US hegemony but will rather end up accelerating the inevitable end of the US dollar as a global reserve currency.
Trump is in danger of being crushed between a Fed that sees the US dollar’s role as the world’s reserve currency collapse, and the need for the Fed to blame someone not linked to the real causes of the collapse, that is to say, the monetary policies adopted through QE to prolong the post-crisis economic agony of 2008.
At the same time, with Trump as president, the neocon-Israeli-Saudi supporters see a unique opportunity to strike Iran, a desire that has remained unchanged for 40 years.
As foolish as it may seem, a war on Iran could be the perfect option that satisfies all power groups in the United States. The hawks would finally have their war against Tehran, the world economy would sink, and the blame would fall entirely on Trump. The Donald, as a result, would lose any chance of being re-elected so it makes sense for him to call off possible strikes as he did after the US drone was shot out of the sky.