President Trump’s Treasury Secretary, Scott Bessent, the long-term personal friend of King Charles who reportedly convinced his then-boss George Soros at the George Soros Fund (GSF) to launch his infamous 1992 run on the pound sterling, was asked at the conclusion of his Aug. 24 press conference announcing “Operation Economic Outcast", designed to obliterate Iran, why the administration was only giving notice; “why not impose the sanctions today?”
His answer: “Well, we are giving everyone the opportunity there to remedy bad behavior. Why would I want to blow up the global financial system?”
He then plunged ahead to threaten to do just that: “Everyone should know that we are serious. Secondary sanctions are a very powerful tool…. If people do not want to meet our expectations… they should expect that they should, will, leave the dollar system.” On that note, the press conference abruptly closed.
Bessent was announcing economic warfare not against Iran alone, but the entire world— including China. Prior to that parting shot, Bessent blustered, when asked about sanctioning Chinese banks, that “no one is above the reach of US sanctions.”
Threatening to kick the many nations who trade with Iran out of the dollar system alone threatens that system. China, India, and Russia are among Iran’s largest trading partners, and all are partners with Iran—a nation of 90 million—in both the BRICS and the Shanghai Cooperation Organization.
China’s Foreign Ministry has already announced in response to Bessent’s mafiosi threats that they do not recognize unilateral sanctions and will take “all necessary measures” to safeguard China’s rights.
Foreign Ministry spokesman Lin Jian stated this clearly in Tuesday’s press briefing: “China has made clear on many occasions its firm opposition to illicit unilateral sanctions that have no basis in international law or the authorization of the UN Security Council. Economic warfare and maximum pressure provide no solution. On the contrary, they only serve to fuel tensions and lead to risk spillover, which will disrupt the global economic and financial order, and harm the legitimate rights and interests of other countries…. China will do everything necessary to firmly safeguard its rights and interests.”
A China Daily opinion column by one Li Yang, posted on Monday after Bessent’s rant, reminded readers that China “will not be pressured into being the US’s accomplice in a conflict Washington created—along with Israel—and which it cannot resolve.” Author Li added some advice:
“Washington should discard the wishful thinking that it can compel China to cut economic ties with Iran. If the rest of the world is forced to do the US’s bidding, international commerce stops being commerce and becomes permission-based globalization, in which Washington decides who may trade with whom….
“Washington has been trying to turn economic interdependence into strategic leverage. But leverage works only when others are willing to accept the rules. Even US allies and partners reject US rules in many fields.
“And the golden rule of being in a hole still applies: When you are in one, stop digging. Washington is scrabbling with both hands—military conflict and economic coercion.”
