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Ex-CIA Director: Military Attack on Iran "Seems Inexorable"

|Includes: OIL, QQQ, SPDR S&P 500 Trust ETF (SPY)

AP reports:
A former CIA chief says military action against Iran now seems more likely because no matter what the U.S. does diplomatically, Tehran keeps pushing ahead with its suspected nuclear program.
He predicts Iran will build its program to the point where it's just below having an actual weapon. Hayden says that would be as destabilizing to the region as the real thing.

Michael Hayden, a CIA chief under President George W. Bush, says that during his tenure a strike was "way down the list" of options. But he tells CNN's "State of the Union" that such action now "seems inexorable."

That's just a tiny step down from "inevitable."

In a previous posting I warned of growing Iran-attack speculation on events-futures markets Intade (Brace Your Portfolio: Attack on Iran Becoming More Likely) and mounting evidence that military chess pieces are being set for something big.

In addition to the short-term and medium-term implications and risks discussed, from a longer-term perspective, putting aside the profound security merits of putting a stop to Iran's nuclear ambitions, it could very well mark America's Suez Crisis moment: A catalyst that brings to a whole new level of intensity and awareness a host of cascading internal and external problems afflicting the American economy, currency and society, as social, political and economic tensions and antagonism toward the political class continue to mount within the U.S. and troublespots from the Korean Peninsula to the South China Sea fester abroad.

"Iran attack" futures on Intrade have actually softened in recent weeks, but Intrade certainly anticipates more interest in the near future: It recently introduced futures for speculators to bet on Iran conducting its first nuclear weapons test on or before the end of 2010, 2011 or 2012.