"The US-Israel war on Iran is expensive in terms of human lives and costs about $12 billion a week for the US, impacting the global economy significantly."
"De-dollarization promises to reorder the world, reducing American power globally and affecting domestic borrowing costs and affordability."
"Iran's blockade of the Strait of Hormuz has dramatically impacted oil and natural gas prices, creating inflationary pressures on economies worldwide."
"The collection of tolls in Chinese yuan by Iran suggests a concrete challenge to American power and the traditional dominance of the US dollar."
The US-Israel war on Iran incurs significant costs, estimated at $12 billion weekly, affecting human lives and the global economy. De-dollarization is reshaping global financial dynamics, reducing American influence. The blockade of the Strait of Hormuz by Iran has led to rising oil and gas prices, contributing to global inflation. Despite the blockade, some vessels continue to pass, with Iran collecting tolls in Chinese yuan, indicating a shift in economic power. The US dollar's status as a reserve currency is challenged as global beliefs about economic governance evolve.
Read at www.theguardian.com
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