Sunday July 1, 2012

I'm Predicting:

The massive sanctions imposed by the European Union on Iran began today.

And, quite characteristically, Iran countered with two very important moves.

# 1: The head of the Iranian international bank announced that Iran will not sit still and just take this, he said that Iran will retaliate against those countries that are attacking them economically.

# 2: Iran announced that they are beginning a 3 day program of missile testing in the center of the country. Official Iranian news is reporting that short, medium and long range missiles will be part of the exercise.

Iran has other moves up their sleeve.

The Iranians have had months to prepare for this moment, the moment when these long-threatened sanctions were to go into effect. Expect that Iran will come up with a real economic shocker - a counter attack that will almost certainly set the EU on its heels. Expect it in another few days.

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