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Iran is Close to Producing a Nuclear Bomb; Biden’s First Veto

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Iran is Close to Producing a Nuclear Bomb; Biden’s First Veto

Author: Greg Valliere

March 2, 2023

A TOP PENTAGON OFFICIAL said yesterday that Iran has enriched enough uranium to produce a nuclear bomb “within 12 days,” a development that almost certainly would provoke an Israeli response.

COLIN KAHL, the undersecretary of Defense for Policy, said Tehran’s nuclear
development progress has been “remarkable” since the Trump administration withdrew from a nuclear pact in 2018.

THE UNITED NATIONS’ nuclear watchdog recently warned Iran has enriched uranium at one nuclear site up to 83 percent, close to the 90 percent enrichment level needed to produce weapons-grade material.

ABOUT 192 POUNDS of Iran’s uranium stockpile is already enriched up to 60 percent and the nation could soon produce several bombs, according to the UN. It probably would take months to produce a delivery capacity.

THE DRAMATIC PROGRESS BY IRAN on nuclear weapons has prompted drone assaults by Israel on Iranian scientists and military sites. This is likely to continue, especially since Benjamin Netanyahu needs a diversion from his growing domestic political headaches.
* * * * *
BIDEN’S FIRST VETO: The president’s first veto will be on a measure that would
overturn Labor Department regulations that encourage investment firms’ use of
ESG policies, referring to environmental, social and governance factors.

THIS IS THE NEXT FRONT in the Republicans’ assault on what they blast as “woke” policies that are being imposed throughout society, this time on investors. The bill will be vetoed later this week by Biden, and his veto will not be over-ridden. But other challenges to the investment world are coming — including a drive from the left to curb the use of stock buybacks.


The views expressed in this blog are those of the author and do not necessarily represent the opinions of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies.

The views expressed in this blog are provided as a general source of information based on information available as of the date of publication and should not be considered as personal investment advice or an offer or solicitation to buy and/or sell securities. Speculation or stated believes about future events, such as market or economic conditions, company or security performance, or other projections represent the beliefs of the author and do not necessarily represent the view of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change and AGF accepts no responsibility for individual investment decisions arising from the use of or reliance on the information contained herein. Any financial projections are based on the opinions of the author and should not be considered as a forecast. The forward looking statements and opinions may be affected by changing economic circumstances and are subject to a number of uncertainties that may cause actual results to differ materially from those contemplated in the forward looking statements. The information contained in this commentary is designed to provide you with general information related to the political and economic environment in the United States. It is not intended to be comprehensive investment advice applicable to the circumstances of the individual.

AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). AGFA and AGFUS are registered advisors in the U.S. AGFI is a registered as a portfolio manager across Canadian securities commissions. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. The subsidiaries that form AGF Investments manage a variety of mandates comprised of equity, fixed income and balanced assets.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.

For further information, please visit AGF.com.

©2023 AGF Management Limited. All rights reserved.

Written by

Greg Valliere

Greg Valliere

Chief U.S. Policy Strategist

AGF Investments

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