Ghalibaf responded to the recent impertinence of Basant with a new economic…

Ghalibaf responded to the recent impertinence of Basant with a new economic formula | Iran's leverage on the American economy 🔺 Mohammad Baqer Ghalibaf, in response to the recent remarks of Scott Basant, the U.S. Treasury Secretary who claimed the Iranian economy would collapse within the next two weeks, provided explanations about Iran's leverage over the U.S. economy. 🔺 In his post on his personal account on X, Ghalibaf explained that the U.S. government had previously taken out a lot of loans at near-zero interest rates. Now that the time for repaying these loans has arrived, the government is forced to take out new loans at much higher interest rates to settle them. 🔺 Meanwhile, the ability and capacity of bond buyers are continuously decreasing. For example, major investors in U.S. bonds (like China and Japan) are showing less interest in purchasing new bonds or holding onto previous bonds, which is why bond yields are on the rise. 🔺 Ghalibaf has pointed out to Basant that Iran's role in keeping the Strait of Hormuz closed and maintaining high energy prices, as well as influencing the increased bond yields, has put the U.S. Treasury in an increasingly difficult situation, exacerbating all of his problems; in other words, Americans will not be able to overcome these economic issues until they resolve them through respect for the rights of the Iranian people. 🔺 The yield on 30-year U.S. government bonds reached its highest level since 2002 yesterday, and with the current trend, there is a chance of returning to the rates of the 1990s and earlier. 🔺 Ghalibaf also used an image of David Zervos, the new advisor to Basant appointed yesterday. He is known for making strange statements. For example, he claimed years ago that he would refrain from grooming his hair and beard until the Federal Reserve reduced interest rates! Zervos's appointment as Basant's advisor has become a laughingstock and mockery among market participants.