Just as the news exploded about the “Panama Papers,” which exposed foreign offshore accounts and shell corporations, President Obama is planning to create a “Mossack Fonseca”-type off-shore scheme to allow Iran to launder billions of their currency for dollars.
Iran is currently prohibited by law from making transactions in U.S. dollars, or conversions from the Rial to or through U.S. dollars, and the “death to America” regime is complaining. Therefore the White House is seeking to create a shadowy off-shore scheme to let Iran to circumvent U.S. laws and sanctions in order to convert their Rials into dollars and immediately to other currencies. Allowing even a momentary conversion to dollars violates U.S. law.
However, the White House seems to believe if they “license” off-shore momentary conversions, it will somehow be slightly more morally acceptable, and maybe not violate the law quite so much.
Perhaps some clients of Mossack Fonseca felt the same way.
Most clients of Mossack Fonseca had more humanitarian investment goals.
So why the executive action scheme? One reason: To bypass Congress’ Constitutional authority and the law. To create a money laundering operation for a sworn enemy of the United States which the Treasury Department still designates as a “primary money laundering concern” due to Tehran’s nuclear and missile programs and support for international terrorist groups.
This disregard by the President for his oath of office is consistent with other executive actions which unconstitutionally bypass Congress’ authority; from massive usurpations like “executive amnesty,” to minor examples like the “secretarial action” that renamed the Congressionally-named Mount McKinley.
Fast action to block Iran’s U.S. enabled money laundering scheme is essential, and Senators Marco Rubio (R-FL) and Mark Kirk (R-IL) have introduced a bill to specifically prohibit such U.S.-aided Iranian money laundering; S.2752 – “a bill to prohibit the facilitation of certain financial transactions involving the Government of Iran or Iranian persons and to impose sanctions with respect to the facilitation of those transactions.”
Meanwhile, Iran continues to violate the U.N. ballistic missile test ban, and frequent choruses of “death to America” prove they have not rescinded their declarations of war.
At the same time as Obama is greasing the skids for Iranian military purchases, an unrepentant Iran announced they are building a factory to produce Octogen, an explosive used as a nuclear weapon detonator, which the Iranian Defense Minister said they have put on their agenda “the acquisition of the technical know-how to produce Octogen explosive materials and Octogen-based weapons.”
Obama’s off-shore “Mossack Fonseca”-like scheme may enable the completion of Iran’s nuclear bomb.
Photo credit Billy Baque