Trump's Iran Sanctions Will CRASH the Dollar!

The Jimmy Dore Show

The Jimmy Dore Show examines the Trump administration's aggressive new economic sanctions against Iran, dubbed 'Operation Economic Outcast,'

Key takeaways

• The U.S. is pushing extreme economic sanctions to isolate Iran, but this strategy may backfire by driving nations toward alternative financial systems.
• Iran has threatened to halt all oil exports from the Persian Gulf if countries cooperate with U.S. sanctions, signaling a major escalation in regional tensions.

Main topics

• Trump's economic sanctions on Iran
• De-dollarization and global financial shifts

Notable quotes

"This is the worst thing in the world that could happen is that people around the world stop using the United States dollar to buy stuff."

Conclusion

Jimmy Dore concludes that Trump's aggressive economic strategy against Iran is a

Transcript preview

Speaker 2 (0:02) Hey, come see me do a live celebrity panel August 30th in Burbank, California. Then stand up in New York City at Village Underground September 13th. And then in Chicago September 18, 19, and 20 in Rosemont and Chicago. Go to JimmyDore.com for a link for tickets. Speaker 6 (0:32) Okay, Speaker 2 (0:39) so clear sign that the Iran war is not going well and Trump doesn't have a way out. There's no military way out of this. And now they're going to try and do, this is the economic D-Day, meaning they're going to do even more horrible economic sanctions on Iran, which they did last year. Remember, there were people in the streets protesting in Iran. And the reason was because Scott Besant and the Trump administration had put crippling economic sanctions on them and devalued their currency. Everybody's retirement was worth nothing and their dollar was worth Speaker 8 (1:14) nothing. But that was before the war. So now then they started a war in late Speaker 2 (1:22) February. Speaker 8 (1:24) Right. Speaker 2 (1:24) Was it February 28th they started that war? Anyway. And so now and Trump said it's going to be over in two weeks. It's going to be in and out. Bum. We killed Ayatollah. We killed his whole family. It's all going to be good. Well, guess what? It's not going well. There's no way out. We're almost all the way out of our strategic petroleum reserves, which means that energy prices, gas prices, and everything's going to go through the roof. And we already know that foreign countries are selling our bonds. So the bonds, which makes our debt much, much more expensive to pay to service. Speaker 2 (2:02) So right now, Scott Besson, Trump's Czech Treasury Secretary, just gave the most unhinged speech about how the U.S. is unleashing Operation Economic Outcast on Iran and sanctioning every country that does business with them. This is going to backfire. Speaker 2 (2:21) This is going to unleash more economic hardship on the American people. And this is the worst thing in the world that could happen is that people around the world stop using the United States dollar to buy stuff. Speaker 7 (2:35) Like before the war, Iran used to have to get American dollars to go buy stuff. They don't anymore. Why? Because China is now backing Iran and they're using what people are buying and selling oil in the Chinese currency. Speaker 2 (2:50) So let's listen to his crazy speech. Speaker 1 (2:54) It is no longer acceptable to operate in the gray spaces of this conflict. Countries cannot claim they are blind to enabling this activity. Iran's enablers purchase, transport its petroleum. They facilitate the flow of its finances through exchange houses and free trade zones. They welcome Iran's flights and maintain registries on its behalf. They turn a blind eye to seaborne fuel transfers and overland transits. They condone illicit use of their banks, all the while concealing the extent of their complicity. The president is making phone calls to world leaders with specific requests to cease their interactions with the regime. We are already seeing results. Over the weekend, comments from Iranian leadership clearly acknowledge the effect of this campaign and nations that facilitate any interactions with the regime should quickly heed our message. Those who stand with the United States will reap the rewards of our partnership. Those who tether themselves to the Iranian regime should expect to share in the isolation of a withering regime. Teams from Treasury, State, and the U.S. military are now meeting with their global counterparts to tell them that the United States expects action. Every country has a defined timeline to shut down activities we have identified. If they do not take action, we will do so unilaterally through Treasury authorities. For example, every branch of Bank Melee must be shuttered and dark. And let me be clear, any entity that facilitates money laundering on behalf of Iran will be removed from the U.S. dollar system. The clock just started ticking. The new sectoral sanctions, determinations. Speaker 5 (5:04) So he Speaker 8 (5:05) looks like he's about to have a panic attack. This is this is called desperation. Speaker 8 (5:13) And we're going Speaker 2 (5:14) we are this is what's going to cause the United States to be the economic outcasts of the world. And Iran's going to join China and BRICS and become Star Trek as we become the Speaker 8 (5:27) road warrior. Speaker 8 (5:30) The only thing that's keeping Speaker 2 (5:32) our country and our economy afloat is that the fact that we are still the reserve currency of the world. Doing this, using that fact against countries makes countries less likely to want to use the dollar to buy stuff, buy and sell stuff. This isn't Speaker 8 (5:50) going to work because China is backing Iran and China has already made it illegal. For their banks in China to go along with any U.S. sanctions. It's illegal for Chinese companies and banks to go along with U.S. sanctions. This Speaker 5 (6:12) is desperation. And I don't even know what. And by Speaker 8 (6:22) the way, there's also a thing called. Speaker 8 (6:25) The Mecca, the Mecca deal, which is a joint defense agreement or pact between Saudi Arabia, Speaker 2 (6:34) Turkey, Pakistan. Speaker 8 (6:37) And I'm through Speaker 2 (6:40) good sources have said that Pakistan just went and offered that Speaker 8 (6:44) deal to Iran. So now we'll have Turkey, Pakistan, Saudi Arabia, and Iran in a defense Speaker 2 (6:54) pact. And we have China and BRICS, which is, remember, Brazil, Russia, India, China, South Africa. And there's 11 other countries that want to join on BRICS, which is a new economic power center to get away from the U.S. dollar. And now Iran will just join that and we're screwed. So this is Trump hurtling us quicker to the end of the United States dollar being the reserve Speaker 5 (7:25) currency of the world. That's the real effect here. Speaker 8 (7:36) So they know that the United States cannot protect Speaker 2 (7:40) the Middle East because as soon as we attacked Iran, Iran wiped out all our military bases. And the reason why we have military bases in the Gulf states like Saudi Arabia, Qatar, Oman, all those places is because we were going to give them military protection and they would only sell their oil and U.S. dollars. Well, now it's proven that we can't protect them. So now they're starting different military alliances like Mecca. Pakistan. Pakistan's not going to go along with this. Speaker 5 (8:08) Doesn't sound like Turkey will. China certainly isn't. This is... Speaker 8 (8:16) This is this is Trump and his this guy is the worst Treasury Speaker 2 (8:20) secretary in my lifetime. He doesn't know dick about being a Treasury secretary. And what he is is an economic hit man. He worked he was he worked with George Soros to to kill the British pound. And so George George Soros made all his money when they devalued the British pound and he shorted it and he made all that money. That was the guy who did it. So that's what he is. He's an economic hitman, and he thinks he's going to be able to get other countries to go along with this so they can somehow cripple Iran. And then what do you get? What is the endgame? Tulsi Gabbard and our intelligence service already told you that they don't have nuclear weapons. What do you want? You want them to just, like, give up their government and hand it over to you? I don't know Speaker 5 (9:05) what the point of these sanctions even are. Speaker 8 (9:13) U.S. Treasury, here's what the Geopolitics Act says. Speaker 2 (9:17) This is what a total loss and desperation looks like, folks. Once you start secondary and territory sanctions, it's over. Speaker 8 (9:30) It's over. So they're not only going to sanction Iran, they're going to sanction any other country that doesn't follow their sanctions. So they're going to... This Speaker 5 (9:42) is a bad... Speaker 8 (9:46) Super Putin says weaponize the dollar often Speaker 2 (9:50) enough and eventually others stop seeing dependence on it as an advantage and start seeing it as a vulnerability. Washington is accelerating the multiple multipolar orders it fears. So right now there's a unipolar world. The United States Speaker 8 (10:07) is the leading economic hegemon and military hegemon. That's over. Speaker 8 (10:14) We're now in a multipolar world. China, Russia, Iran. He sounds like he's about to have a panic attack. I agree. I agree. Speaker 8 (10:26) It sounds like he is having a pan attack because he knows that he is now officially Speaker 2 (10:29) the voice of this decision, Speaker 8 (10:31) which Speaker 2 (10:32) is going to backfire. Here is what they're saying in Iran. Economic Speaker 6 (10:38) threats. Chris, cut number three. For example, is it possible for a country to withhold raw materials for medicine from us just because it wants to align with the Americans? Can it really do that? If they start doing this, we won't let a single drop of oil leave not just the Strait of Hormuz, but the Persian Gulf. Speaker 2 (10:55) If he's saying if they go along with it, if they start to try to not sell them medicine and stuff, that Iran will not only shut down the Strait of Hormuz, but they won't allow a single drop of oil to leave the Middle East, Speaker 7 (11:07) meaning the Gulf states. And how do I know that? Because they can attack them. Speaker 8 (11:12) They already have. And there's nothing we can do about it. All they got to do is hit their energy plant Speaker 7 (11:20) with a drone. And then they're done with because then they can't desalinate their desalination plants, which is what provides 80 to 90 percent of their water, go offline and they all have to leave because it's 120 degrees in the Gulf states and you can't live without water. And then in a couple of days, there's a there's a humanitarian and everybody has to leave. So they know this. Speaker 6 (11:45) Is it possible for these countries to join the economic blockade alongside America, harm our economic interests, and we still let oil leave the Persian Gulf? No, oil will not leave through the Strait of Hormuz. No, Speaker 8 (11:55) this is not possible. Speaker 8 (12:00) Here is their foreign minister. Here's what the Speaker 2 (12:02) foreign minister has to say. Speaker 6 (12:03) Same old bullying that we've seen from the hardliners in America. In a sense, it's a repetitive movie. They just keep replaying it. We know it by heart and we know how to confront and deal with it. The fact that they talk about military operations saying we will strike, we will do this, we will do that. And now they've returned to bringing up the same old plans again. Shows that they are truly desperate. They can't think of any other solution against the great nation of Iran. So they just keep bringing these repetitive plans back to the stage. They must come to understand that there is simply no other viable way forward other than engaging in a dialogue with genuine respect for the people of Iran. It is absolutely essential that we focus on finding a lasting solution that is firmly rooted in the principles of justice and human dignity for everyone involved. They must put all these other paths aside and return to a path that has been tested before. The Iranian nation responds to the language of dignity with respect. Same old bully. Speaker 7 (12:48) So this is just the United States trying to bully the world to do what they want. Speaker 5 (12:53) And Speaker 7 (12:53) you say it's not going to work. Speaker 5 (12:55) It's not going to work. Speaker 5 (12:58) This is what's really happening. The downfall of the arrogant is near. That's what's really happening. Speaker 7 (13:10) Let's read this. This is for Joe. Joe Kent says this. He says the Iranians will likely respond to the sanctions by attacking our bases and or ships in the region. The Iranian hardliners prefer a military conflict because they believe striking us is their only true deterrent. And a kinetic war keeps their people rallied around the regime. We should deprive them of this option by pulling our troops from the region. I agree with him on that. But he's like for the sanctions. He goes. Pulling out troops limits our risk, provides the sanctions the time they have to get their desired effect. What is their desired effect? I don't know. Maybe someone knows more than me. Maybe Joe Kent knows what they are. What is their desired effect? You want them to hand over their country to you? They already don't have a nuclear weapon. What is Speaker 5 (14:02) your desired effect? Speaker 5 (14:07) I don't know what that is. And so if you pulled, one Speaker 7 (14:10) of their demands is you pull your troops out of the Middle East. So if we pull all our troops out of the Middle East, they'll probably open the Strait of Hormuz. So why don't we just do that? Is that the desired effect, to get them to open the Strait of Hormuz? So we're going to, and remember, sanctions is what hurts the people. It doesn't hurt the ruling class. Speaker 7 (14:32) But Fidel Castro never missed a meal when we were when we choked off their country from economics. It hurt the people. Same thing with Iran. Speaker 5 (14:40) This hurts the people. This will this will allow the president to say he won the military fight. He said that a thousand Speaker 8 (14:50) times already. Speaker 8 (14:54) Now it's Speaker 7 (14:55) all economic diplomatic and the war can slowly fade from the daily news cycle. Once that happens, a quiet arrangement can be made to get the oil flowing ahead of the elections in November. But if the sanctions don't work, if we get sucked back into an escalation cycle, break the escalation trap by pulling our troops out. So I think he just wants our troops out. So I'm going to give Joe Kent the benefit of the doubt here and say he's just trying