U.S. President Barack Obama signed legislation this week imposing tough sanctions on Iran’s relatively unique state-owned central bank, prompting a steep drop in the value of the Iranian rial. He also added a controversial “signing statement” indicating that he would violate the law if it interfered with his agenda and purported authority.
The $30 billion sale of arms to Saudi Arabia, announced by the Obama administration on Thursday is a continuation of a history of U.S. weapons sales that has resulted in the arming of a wide array of enemies as well as friends of America in the Middle East and other parts of the world. The deal includes the sale of 84 F-15 jets and “assorted weaponry” to the Arab kingdom, the Washington Post reported. It also provides for the modernization of 70 of the Saudi's current aircraft, as well as munitions, spare parts, training, and maintenance. The announcement comes at a time of increasing tension between the United States and the Saudis' neighbors in Iran and threats and counter-threats surrounding the strategically important Persian Gulf region.
Despite assertions from Federal Reserve officials that the United States would not play a role in bailing out European banks, that is exactly what has happened — again.