Thursday, August 24, 2006

First round to Iran

"If the US or Israel were to bomb Iran’s nuclear installations, Iran would have the strongest possible pretext to ramp up the oil price to $150 a barrel or higher by closing or restricting traffic in the Strait of Hormuz. Thus a military attack on Iran, just like economic sanctions, would increase the Government’s capacity to finance global terrorism and curry favour with the Iranian public. It would also cause potentially catastrophic disruption to the world economy when the American public is already turning against the Iraq adventure and Republicans face a potentially disastrous electoral defeat." —Anatole Kaletsky

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