LARRY KUDLOW: More bombing is coming as Iran pulls out a blank piece of paper to take Trumpian dictation

So the Iranians send back a ridiculous set of agreement conditions that doesn’t even mention their nuclear threats. Nor does it mention their constant state-sponsored terrorism. And President Trump quickly responded that it was unacceptable.

Time and again the president has said Iran must not have any nuclear capabilities. No nuke building, no enriched uranium, no missiles, no more terrorist proxies, and no more control over the Strait of Hormuz. Those are his red lines. He will stick to them. And as far as Hormuz is concerned, the United States Navy has now begun the process of reopening the Strait. They’ve guided two ships through today and they are likely to ramp up many many more ships to safely pass through the Strait.

In effect, whether the Iranian thugs realize it or not, America has completely taken over the Persian Gulf, which I guess should be the Arabian Gulf, although I may personally be willing to hold out for the Trump Gulf. The Iranians took shots at the United Arab Emirates, which has become a staunch American ally. Leaving OPEC ramping up oil production and transacting through the dollar. 

Our naval blockade continues to work as Iran continues to drop into economic and financial ruin. No oil, no money, no meeting payroll or retirement packages. Even all that money the Islamic Revolutionary Guard Corps has stolen and looted from the Iranian people, including running their businesses into the ground, and all that offshore bank accounting has now been frozen or even seized by the United States Treasury.

Meanwhile, without oil exporting, Iran’s storage capabilities are filled up and overflowing, and a shutdown is imminent. Once that happens, the oil fields will be badly damaged for quite some time.

The blockade is going to stay in place. The Navy is going to gradually reopen the Strait of Hormuz and American order will be imposed on the whole region, as more super tankers flow through, that should begin to ease oil prices and perhaps even gasoline prices at the pump. The ceasefire has lasted 3 weeks, though. The Iranians haven’t responded with any serious talks. And my hunch is Mr. Trump is losing patience with them.

At some point Iranian leaders are not going to make it home at night before a resumption of bombing occurs. Analysts say it will only take a couple more weeks to fully complete the mission. There can be no deal without the president’s red lines. And, indeed, I still believe we are headed for unconditional surrender.

I can just see Mr. Trump at a meeting with some Iranian leader if he can find one. Tell that person to take out a blank sheet of paper and write down this and that. That’s called dictation. Unconditional dictation.