Cramer's 'Mad Money' Recap: Four Ways to Play Iran

The third stock people should get into is Yamana Gold (AUY Quote), Cramer told his viewers.

People need a gold stock because gold "soars" on any military action, he explained. Yamana is the gold stock to buy because it can take advantage of the high price and pump out gold cheaply.

Cramer has been behind Yamana for a double now, but he said he's continuing to stand behind it and is putting it in the "Armageddon Portfolio" because it's still an improving situation from when he first recommended it.

Yamana is expanding gold production with no extra cost, and it has "unbelievable growth," Cramer said. Meanwhile, every other gold company is growth challenged, he said. "It is a welcome and necessary addition to the 'Iran Awry' Portfolio."

Cramer said he wants people to put 25% of their Doomsday Portfolio money in Abbott Labs, 25% in Kinder Morgan Energy Partners, 25% in Yamana Gold and the last 25% in cash.

"Cash, not cotton, will be king in an Iran debacle," he said. People want a lot of cash in their bank account so that they can "feast off the panic" everyone will be in, Cramer said.

Although he said he likes the three aforementioned stocks better than cash, he said market players will need cash to buy other stocks on the cheap when things go awry in Iran.

"Be sure to have your cash in a high-yielding account," Cramer stressed, one that yields a minimum of 5%.