00:00Note that this is exactly what happened in 1941, and it's what led the Japanese to attack us at
00:08Pearl Harbor. Most people don't realize this. They think the Japanese just attacked us out of the
00:13blue. The Japanese decided that they could easily lick the United States and become a world power
00:19and so forth and so on. That's simply not true. We put a wicked oil blockade on the Japanese. I
00:29think it was on July 25th, if my memory is correct, 1941. It was late July 1941, where we put
00:36an oil
00:36blockade on Japan and we froze its assets. And we had earlier put a blockade on its iron and steel
00:45imports in 1940. So the Japanese were in desperate straits. They thought that we were threatening
00:52their survival with an economic blockade. And what they did was they attacked us at Pearl Harbor.
00:59And this just goes to show you that even when an economic blockade really begins to bite,
01:06the other side has a retaliatory capability. And just to go to Iran, I don't think you're going
01:13to bring the Iranians to their knees. I don't think you're going to threaten their survival.
01:17And we can go through why that's the case. But if you do threaten their survival, they're not going
01:23to sit there and just disappear or surrender or what have you. They're going to lash back.
