Post by Michael Every

Global Strategist at Rabobank

As I noted this morning in the Global Daily, on June 28, 1919, Germany signed the Treaty of Versailles to end WW1. French Marshal Foch is widely regarded to have said, “This is not a peace. It is an armistice for 20 years”, because it was too lenient on Berlin, who had lost the war. This new U.S.-Iran MoU of Versailles is also lenient on Tehran, who thinks it won the war. Again, it doesn’t look like a peace but an armistice for 20 weeks… which falls just after the U.S. midterm elections. To be continued (?) We shall see…