A chain is only as strong as its weakest link and the weak link on this story is Europe for refusing to go along with the Bush-sponsored trade embargo against Iran.

Europe has successfully broken the U.S. embargo, rendering it a minor inconvenience to Iran and not a painfully successful embargo.

European nations are refusing to curtain support for exports to Iran and Europe also is not keen on freezing assets of certain targeted Iranian companies.

This new independent Europe is causing a rift between the U.S. and European leaders who seem to have a newfound love affair with Iran, or at least their money.

So, what’s the use of playing poker with your cards face up? And what’s the point of an embargo that is not an embargo? Thus, the rapid erosion of the relationship between the U.S. and some of our long time European allies.

Discussing this new “Embargo the Ugly American’s Embargo” attitude of Europe is Craig Smith, author, lecturer and CEO of Swiss America.

In his book, “Black Gold Stranglehold”, Craig projects such actions like this on the future prices and supply of oil.

Craig Smith is the president and CEO of Swiss America Trading Corporation, one of the largest and most respected tangible metal investment firms in the U.S. and frequently called upon by financial talk show hosts to give guest commentary about such issues as our economy, oil and geopolitical matters.