The Economic Destruction of Trump’s War Goes Far Beyond High Gas Prices

Iran Issues 10 Million Rial Banknote Amid Soaring Inflation As the Iran war rages, Tehran has rolled out a new 10 million rial banknote, its highest-ever denomination, as authorities seek to "manage" soaring inflation and meet demand for hard cash... but mostly to "manage" soaring inflation, similar to how Venezuela would add a new 0 to its currency every week in the late days of the Maduro ergime before everyone simply gave up.  Banks, which have been targeted on at least one occasion by Western strikes, began distributing the new note...

Hormuz Fears Ease As Trump, Ghalibaf Virtually Sign US-Iran Deal, But Energy Flows Remain Months From Normal President Trump, Vice President JD Vance, and Iran's Parliament Speaker Mohammad Bagher Ghalibaf have virtually signed a peace deal to end the U.S. naval blockade of the Strait of Hormuz, Iranian ports, the general Gulf region, and begin 60 days of nuclear negotiations, according to CNN, citing US senior sources.  The text of the so-called memorandum of understanding, a 14-point document that should lead to a two-month extension of the ceasefire and the start of negotiations over...

US Lifts Sanctions On Iraqi Airline Blacklisted Over IRGC Ties Via The Cradle The US Office of Foreign Assets Control (OFAC) lifted sanctions on Iraq's Fly Baghdad Airlines and two of its aircraft on Wednesday, clearing a carrier Washington had blacklisted in January 2024 over alleged support for Iran's Islamic Revolutionary Guard Corps (IRGC) Quds Force.  The Baghdad-based carrier was delisted from the Specially Designated Nationals (SDNs) list under each of its three registered names, Fly Baghdad Airlines Company, Fly Baghdad, and Iraq Express. @JetPhotos Two Boeing 737 aircraft flown by the airline, carrying the tail...