Gyroscopic Investing

The history of the U.S. role in Iran’s 1953 coup may be “well known,”? as the president declared in his speech, but it is not well founded. On the contrary, it rests heavily on two related myths: that machinations by the CIA were the most important factor in Mosaddeq’s downfall and that Iran’s brief democratic interlude was spoiled primarily by American and British meddling. For decades, historians, journalists, and pundits have promoted these myths
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That version of events has also been promoted by Iran’s theocratic leaders, who have exploited it to stoke anti-Americanism and to obscure the fact that the clergy itself played a major role in toppling Mosaddeq.