Three orders of magnitude on inflation is okay, but interest is Usury.
He sounds like Imelda Marcos! LOL
“...into infrastructure projects...”
Is that what IED’s are being called these days? I guess technically the nuke plant could be called “infrastructure”, but we all know it isn’t.
Perhaps they should consider knocking off Amadinajhad instead.
They’ve been putting pictures of Hillary, Obama, and Edwards on their currency??
$ pong
My hero, Zero, such a funny little hero,
But till you came along,
We counted on our fingers and toes.
Now you’re here to stay
And nobody really knows
How wonderful you are.
Why we could never reach a star,
Without you, Zero, my hero,
How wonderful you are.
What’s so wonderful about a zero?
It’s nothing, isn’t it?
Sure, it represents nothing alone.
But place a zero after 1
And you’ve got yourself a 10.
See how important that is?
When you run out of digits,
You can start all over again.
See how convenient that is?
That’s why with only ten digits including zero,
You can count as high as you could ever go...
Forever, towards infinity,
No one ever gets there, but you could try.
With 10 billion zeros,
From the cavemen till the heroes,
Who invented you,
They counted on their fingers and toes
And maybe some sticks and stones, or rocks and bones
And their neighbors’ toes.
You’re here,
And nobody really knows
How wonderful you are.
Why we could never reach the star,
Without you, Zero, my hero,
Zero, how wonderful you are.
Place one zero after any number
And you’ve multiplied that number by 10.
See how easy that is.
Place two zeros after any number
And you’ve multiplied that number by 100.
See how simple that is.
Place three zeros after any number,
And you’ve multiplied that number by 1,000.
Et cetera, et cetera, ad infinitum, ad astra, forever and ever,
With zero, my hero, how wonderful you are.
Its actually a reasonable thing to do, after some decades of inflation such as they’ve had. It just makes no sense for a loaf of bread to cost 100,000 of anything, be they rials or duckets.
But don’t expect a re-valuation of the Rial to inspire confidence. It won’t. But it is survivable.
That’s a coincidence...
I’ll bet there are folks in the Pentagon planning to “knock off” a few zeros themselves....
Dag nabbit, I’ll say it again, introduce “hedonic adjustments”, “geometric weighting”, “core inflation, which excludes volatile food and energy prices”, and “substitution” into the equations, and that so-called inflation will simmer right down to 2.3%, “in the comfort zone”. That’s how we do it here to keep people in the dark about it.
With all their nuclear whiz kids, someone should know how to use scientific notation.
Just wow...
Sure... knock 3 zeros off the currency and that will fix everything...
What a moron...
Seriously... at least the chi-coms and their fixing currency to the dollar has some base in factual economics.
I can’t imagine that anyone could take this ‘proposal’ seriously as anything other than a temporary psychological trick on the local population, and will do worse than nothing to their actual “problem” here.
The Iranian people already know their government is incompetent.
Nuevo Rials, anyone?
Only 3 zeros??
WHy don’t they go ahead and knock it down by NINE decimal points right now — that way they’ll be more prepared for the full Pres. Ahmawhackjob effect, especially after the USA kicks their sorry asses back to the stone age......
With that kind of inflation, it’s a wonder they have any economy at all. Must be based on barter and substitute currencies. (Dollars, Pounds).
Actually, compounded annually that’s “only” about 20% a year. Still, you’d be crazy to hold on to rials any longer than necessary.