The deal to curtail Iran’s nuclear program is no deal at all. How do I know this? You just have to listen to the leadership in Iran. The Ayatollah Khamenei has weighed in along with his subordinates, and they have said that the White House and the President are liars. There is going to be no inspections of their military facilities, and they are not going to stop enriching uranium. Also, the President said the sanctions would be lifted gradually as the Iranians complied with the deal, and Iran now says they demand sanctions be lifted at the signing of the deal; otherwise, there is NO DEAL. They had me at “liar.” How do you negotiate a deal when the other side calls you a liar and a devil? Either John Kerry or President Obama knew they did not have a deal or they are incompetent. Maybe they are a little of both. I predict right here and now there will be no deal to curtail Iran’s nuclear program. Ironically, as the Obama Administration is being called out for lying by the Iranians, the White House twitter account is mocking Israeli Prime Minister Benjamin Netanyahu. Israel is an ally, and Iran is still on the State Department list of countries that fund terrorism. I cannot make this stuff up. The White House is negotiating with Iran, and it will not even address terrorism as part of the Iran nuke deal. Does that mean Obama is okay with what Iran is doing in the Middle East?
Meanwhile, Congress is getting legislation ready that will require it to have a say in the Iran Nuke deal and also will propose new sanctions if there is no deal. The President said he would veto any legislation that gets in the way of his deal. The only question that remains is can Congress get enough Democrats to vote to override a veto. The chances are good they will because this is just way to important for Congress to sit by and watch the President, who now looks like a fool. I have to say one thing for the Iranians, they have been very consistent over the past several years I have been reporting on this. The real wild card here are the Arabs and the Israelis, who are now on the same side against Iran. This is a powder keg situation, and the fuse is lit. We just do not know how long it is.
Iran is now reportedly sending warships to the Yemen coast. Egypt is also sending warships and troops. Egypt and the rest of the world has much to lose if the Strait of Mandeb is shut down by either war or terror. If the Mandeb Strait is closed, that means the Suez Canal will not produce revenue to Egypt, and things like oil shipments will stop and be forced to go around Africa to get to Europe.
The economy showed yet another sign that it is in trouble. Wholesale sales have plunged and are joining the declining factory orders. The March Fed minutes were released, and the Fed is reportedly split on raising interest rates. My friend Gregory Mannarino of TradersChoice.net called me and said the Fed has turned into a “circus.” Mannarino contends the Fed knows that if it raises interest rates, the economy gets killed. I agree. It really faces two choices and that is to raise rates now and immediately kill the economy or let it ride, but the result is the same. Almost everyone I talk to and hear about agree on two facts: What we are doing with 0% interest rates cannot go on, and we are headed for another financial calamity. Just this week, the Head of the IMF, Christine Lagarde, warned how 0% rates could cause “asset over-valuation risks.” Jamie Dimon of Chase is also warning of another crash just this week. This is making its way into the mainstream vernacular. Does that mean a crash is getting closer?
Join Greg Hunter as he analyzes these stories and more in the Weekly News Wrap-Up.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.