Monday, March 5, 2012

Can We Finance An Israel-Iran War?

President Barack Obama said to the American Israel Public Affairs Committee on Sunday March 4th : “I will not hesitate to use force when it is necessary to defend the United States and its interests.” President Obama was presenting as strong an assurance as he can to the Pro-Israeli lobbying body known as AIPAC, against the harsh rhetoric being thrown at his administration by many including the republican presidential candidates.
It is no secret that the Republican party and its cohorts clearly want an Israeli strike against Iran sooner rather than later, as that could bolster their support in the upcoming presidential elections.

Everyone agrees that all countries have the right to defend itself and Israel is at that gate right now, facing a growing threat of a Nuclear Iran. There are many moving parts in a conflict involving a Nuclear Iran and the ramifications of a possible attack by Israel. If Israel attacks Iran, one of the concerns is that neighboring countries will be pulled into the fracas and will be forced to choose sides. Those decisions will be weighed down not only by the politics and economics of the issue but also the religious implications of Muslim countries possibly opposing one of the same religion; that being Iran.

Countries choosing sides will have a devastating effect on the Oil market as the region will become unstable, resulting in the rise of oil prices. The resulting higher cost of fuel will plunge the world into panic and some countries will see their recessions turns into depressions. The ripple effect will not baud well for the growing hunger of developing “BRIC” countries… they being Brazil, Russia, India and China.
We can expect the ‘BRIC” countries to secure larger amounts of oil at any price for their use, leaving a financially unstable America in an increasingly worse position than we are right now, as we fight to recover from our own recession and unemployment woes.

President Obama pressed on in his address that while he “Has Israel’s back,” he welcomes the use of patience by Israel, allowing time so that the strong sanctions imposed on Iran’s central bank by the US and its European allies can take effect, forcing them to a less aggressive path in their pursuit of highly enriched Uranium and possibly a Nuclear weapon. This is something that Israel does not look upon favorably as their window of attack may be compromised, the toughest sanctions are due to go into effect in the coming summer.

As expected, the devilishly cunning republican presidential candidates have already begun to stir the pot of doubt and dismay about President Obama’s approach to the issue and what his ‘Muslim loving’ intentions may really be. This being an election year they are throwing everything they can at him, in an effort to cast shadows of doubt on him and his electability to a second term.

Having already lost the debate on the contraceptive issue, the republicans are now trying to beat the war drums between Israel and Iran in a desperate attempt to gather their forces against an Obama re-election. 
The AP reports…”
An AIPAC spokesman, Patrick Dorton, said the group welcomed Obama’s remarks and “his strong resolve to work with Israel to solve the Iranian challenge.”
Obama’s speech quickly turned into Sunday campaign fodder.

Romney, in Georgia, returned to his claim that “if Barack Obama is re-elected, Iran will have a nuclear weapon.”
Santorum said, “The best thing that could happen to world markets is an Iran without a nuclear weapon, and a new Iranian regime, neither of which (Obama) is doing very much about to make happen.”

In comments before Obama’s speech, Gingrich said he saw no evidence Obama would do what it took to keep Iran from getting nuclear weapons. “They talk and the Iranians build,” Gingrich said. “We’re being played for fools.”

It is expected that Iran will not go down without a fight if attacked by Israel and will use all means at their disposal to react. This may ensure their counter attack on Israel and on American troops in the Persian Gulf…something I think they are not afraid to do. This will force the US to commit troops and equipment to the fight, amounting to untold billions of dollars in cost, as we have seen in Iraq and Afghanistan.

The one question that needs to be asked now is how will the US pay for a war between Israel and Iran? Will the republicans agree to borrow Billions from foreign sources? Will they renew their efforts to strip or cut social and other programs to pay the humongous costs another war will demand? What will they do?

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