Arya News Agency - Mohammad Bagher Qalibaf, reacting to Scott Bessent's remarks about Iran's economy, pointed to the U.S. government's debts and rising interest rates, speaking of America's financial challenges and economic pressure leverage.
In a post on his personal X account, Qalibaf, describing Bessent's fragile situation, wrote that the U.S. government had previously taken out large loans at near-zero interest rates; now the repayment deadlines for those loans have arrived, and the government is forced to take out new loans at much higher interest rates to settle them.
On the other hand, the capacity and willingness of bond buyers is steadily declining. For example, major buyers of U.S. Treasury bonds (such as China and Japan) are showing less interest in purchasing new bonds or holding on to previous ones, and for this reason, bond yields are rising.
Qalibaf reminded Bessent that Iran's role in keeping the Strait of Hormuz closed and energy prices elevated, as well as its influence in driving up bond yields, has confronted the U.S. Treasury with a mounting crisis and exacerbated all of his troubles; in other words, Americans will not be able to overcome these economic problems unless they resolve these issues through respecting the rights of the Iranian nation.
The yield on the U.S. government's 30-year bonds yesterday reached its highest rate since 2002, and given the current trend, there is a possibility of a return to the rates of the 1990s and earlier.
In his post, Qalibaf also used an image of David Zervos, Bessent's new advisor, who was appointed yesterday. He is known for making bizarre statements. For example, years ago he claimed he would refrain from cutting his hair and beard until the Federal Reserve lowered interest rates! Zervos's appointment as Bessent's advisor has become a source of mockery and ridicule among financial market participants.