tag:blogger.com,1999:blog-16816866.post499400808089713306..comments2024-02-29T02:10:56.878-08:00Comments on J O S H U A P U N D I T: The Iran Sanctions That Aren't - State Department Give Waivers to 11 CountriesFreedom Fighterhttp://www.blogger.com/profile/13649470110087808596noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-16816866.post-41097437670729474032012-03-21T16:56:28.819-07:002012-03-21T16:56:28.819-07:00I share the frustration with Mr. Obama's polic...I share the frustration with Mr. Obama's policies that are not working and likely cannot work. Sanctions are never going to work. There are simply to many people who are going to want to go around them and there simply is not the ability to enforce them and make others comply. <br /><br />While I share the frustration, I do have to appreciate the VERY difficult position the Administration is in. Push to hard and you lose ANY cooperation now and perhaps on any thing else in the future. Not only that but you end up doing even more damage to America's already poor image. Don't push hard enough and you don't get cooperation and you look stupid and likely damage America's position even more this way to. <br /><br />"Since the world's banking system is wired through New York..." push countries like China and India to hard and they along with others will decide to bypass NY and America all together in the world banking system and they along with the rest of the world will decide to end the dollar's role as world's reserve currency. This could all be implemented in about a week if the other powers wanted to do that. <br /><br />Having the dollar as world reserve currency has been a huge advantage to us. Unfortunately with our massive debt, lack of an industrial base to supply any thing of value to the world markets that they cannot get elsewhere, and a currency that has lost tremendous value, the dollar will lose its role as world reserve currency within the next couple of years at most. At this point, the situation has become so dire the dollar's role cannot be saved in this role no matter who the leaders of the future are. <br /><br />The prudent thing for America's leaders to do at this point would be to acknowledge the fact that the dollar's role in this regard is ending and to plan accordingly. A good question for a debate moderator to ask the candidates would be, "since the dollar's role as world reserve currency is coming to an end within the next two years at most and liely sooner than that how do you plan to deal with this?"B.Posternoreply@blogger.com