Flash Traffic: A decision has been made inside the US Treasury to SANCTION Chinese Banks in connection with Iran oil transactions.
Details are sketchy at this hour, but I was just told the decision HAS been made.
Will China dump US Treasuries? Can they if they are sanctioned?
China has repeatedly warned the US over the past few days not to interfere with its oil purchases from Iran.
Sanctioning oil was what caused Japan to militarily attack the United States back in 1941.
It appears the US did not learn any lessons from that, and is doing it again - this time to a nuclear-armed country.
