Iran, the $39 trillion national debt and dedollarization: How Trump exposed America’s Achilles Heel in Hormuz

For weeks, President Trump has scrambled to respond. He issued a 48-hour ultimatum threatening to “obliterate” Iran’s power plants if Tehran did not reopen the strait. Iran countered by threatening to mine the Persian Gulf and target American energy infrastructure in the region. Trump then postponed his deadline amid what the White House described as diplomatic progress—a face-saving maneuver that former Defense Secretary James Mattis warned could ultimately cede the strait to Tehran’s influence. “You’d see ...