Posted on 02/28/2023 7:09:31 AM PST by nuconvert
Iran's currency is in free-fall, falling almost 10% over the weekend, breaking through the psychologically important half-million mark to more than 600,000 rials to the dollar. The plunging currency led the Tehran bazaar to close, an event that preceded the 1979 Islamic Revolution.
Just a few dozen miles across the border, Iraqi Kurds were watching developments closely, questioning how quickly the rial rate could fall below 1 million and the consequences.
(Excerpt) Read more at washingtonexaminer.com ...
I’ve been reading stories like this for quite a while.
The last act of a dying economy is to start a war........................
The people of Iran have the very government their parents and grandparents rioted for in 1979.
Be careful what you wish for. You just might get it.
Enjoy!
Our Republic is also crashing.
So now I’m thinking: How can Biden and company mess this one up, and so somehow save the current Islamic government?
If true, it explains why their leader transferred $4 billion to his son in South America. Making arrangements to flee before he is nabbed by citizens and thrown off a building.
“The last act of a dying economy is to start a war........................”
Does that include the US OF A? Just a thought with BIDUMB in the oval office.
Yes...................
The deep state keeps unstable countries around to have periodic skirmishes to profit the defense industry.
When do we start bailing them out?
Be ironic if it collapses right when Carter assumes room temperature.
I thought that in the past in some places US paper money was used.
On the other hand, we're handed BOOM stories on a daily basis, so, salt...grains of it, take.
“Crude Oil Exports for Iran, Islamic Republic of (IRNNXGOCMBD)”
https://fred.stlouisfed.org/series/IRNNXGOCMBD
They are about half of pre-2011 amounts.
Russian exports probably have depressed the price.
Before the Shah left it was 70 rials to the dollar.
It was 8,000 Rials to the USD in 2004
“A dealer in Tehran said that 70% of his carpets used to be sold to customers outside Iran. Now, it’s more like 10% — mostly Chinese or Russians, who are not bound by U.S. or European sanctions.”
I’ve been reading stories like this for quite a while.
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Yep...let’s look at someone else who is supposedly collapsing in order to take our eyes off the ills here.
The Revolutionary Guards and the police who crack heads to keep the mullahs in power demand hard currency for their work. Hence the pallets of cash from Obama and Biden. The Chinese are introducing the yuan. Its now legal tender to buy consumer goods in Iran for people who can get them. Clever way to make Iran an economic colony of China. Shortly Iran will be forced to accept yuan for oil.
The only practical hope for the Iranian people for freedom, independence and dignity is if the Israelis found it necessary fot its own purposes to depose the mullahs. However it probably serves Israel’s strategic interests for China to dominate Iran and control its nuclear assets.
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