The year – 1981. The United States cuts diplomatic ties with Iran. $400 million in Iranian assets are tied up. Fast forward to 2016. POTUS decides it’s in our best interest to give it back. With interest.
“For the United States, this settlement could save us billions of dollars that could have been pursued by Iran,” Obama claimed. “So there was no benefit to the United States in dragging this out. With the nuclear deal done, prisoners released, the time was right to resolve this dispute as well.”
How much interest? $1.3 billion. Iran gets a check for $1.7 billion dollars. You may ask, what is the interest rate on that. A simple compound interest calculator tells us about 6% for $400 million to grow into $1.7 billion over 25 years. By the way, how much interest is your local bank paying you on your paltry savings account? I suspect it isn’t 6%. But according to Barry, it’s great because it’s less than they wanted.
Iran will be returned its own funds, including appropriate interest, but much less than the amount Iran sought,” Obama said.
I wonder how many other State sponsors of terrorism get to dictate the terms of returning their blood money assets? You can be sure if Obama has his say, Iran won’t be the last.