Posted on 07/31/2019 4:20:56 PM PDT by detective
Iran’s Central Bank announced Wednesday that the nation would rename the national currency, the rial, as the “toman” and “delete four zeros” from its value.
The move follows months of intense American sanctions on Iran’s oil industry and mimics a similar move to bolster the bolívar currency in Venezuela.
“The council of ministers, at a meeting presided by President Hassan Rouhani this morning, approved the central bank’s proposed bill to change the national currency from the rial to the toman and delete four zeros,” the Iranian Islamic regime said in a media statement, according to the government news outlet PressTV. As the reevaluation of the currency must pass through the dictatorship’s rubber-stamp legislature, it will not be confirmed until a final vote in the Iranian parliament.
PressTV admitted the plan to remove the zeros, an attempt to strengthen the currency’s value, “found traction after the national currency lost more than 60 percent of its value in 2018,” after the United States withdrew from the international nuclear deal with Tehran. The outlet blamed Washington for sending the rial into a “tailspin” and prices of basic goods in the country “through the roof.”
(Excerpt) Read more at breitbart.com ...
“In March, Hezbollah’s leader, Hassan Nasrallah, went on TV and made a public appeal for donations,” Hook noted. “Hezbollah has placed piggy banks in grocery stores and in retail outlets seeking the spare change of people.”
I wish them all the luck Venezuela had in turning their economy around.
Does the fact that they contain money make these piggies no longer haram?
From “The Simpsons” Nelson character: “HA, HA ! “
Hungry and angry people REVOLT. I love when a plan comes together. MAGA2020
How Reaganesque of President Trump. President Reagan defeated the USSR by breaking their currency in a massive arms buildup that they couldn’t afford. President Trump is breaking Iran by destroying their oil market and peeling off their EU oil customers.
Both men did not have to fire a shot. Brilliant.
The rial to the toman? hell, they’re gonna need a toe truck soon.
“piggy banks”
If you drop in a shekel, does it explode?
That “solution” brings me to this piece in my satire page OBAMA REDUCES NATIONAL DEBT
In a swell foop of his pen President Barack H. Obama has silenced his critics on wasteful spending that nationally rewarded his socialist supporters by creating a national debt in the tens of trillions of dollars by issuing a Presidential Dictum .
By doing so President Obama has drastically reduced the national debt. By his executive order all denominations of money, coins and bills, will be re-named.
Until a new minting of coins begins. The American common coins known as a penny, dime,quarter, and half dollar will remain in use but “revalued”.
Coins starting with the common copper coin known as a penny, a one cent piece, will no longer be valued as a “cent” (1/100th of a dollar) but a “MIL* and “re-valued” to 1/1000th of a dollar. The next denomination formerly known as a “dime” will now be designated, valued at a cent or penny.
The President has assured US pricing increments will remain based on the cent revalued and not the MIL The common nickel will ( a 5 cent piece) be recalled and replaced by the quarter which will have the value of 5 cents and the 50 cent piece be valued at a dime or 10 Obama cents.
Thus bringing the promised change to his supporters, which will be required to be carried with to make a purchase..
By taking this action the national debt of 12 trillion dollars has been reduced to a manageable 1.(point)2 trillion dollars.
The presidential move was inspired by a letter from 6 year old Betsy Bottomly who complained about the high cost of candy. In announcing the decision skipping aside from the customary teleprompter Obama intoned It...uhh humm.. also means great things for ...uhh ... the children because a candy bar priced at the prevalued $.50 cents ...uhhh...will (using the devalued 50 cent piece known as a half dollar)....hummm.... only cost 10 Obama cents http://www.theusmat.com/natldesksatire.htm
I don’t know if you remember, but there was talk of Obama eliminating the national debt by issuing a trillion-dollar platinum coin or three. Apparently under current law the Treasury can issue coins of any value in platinum. The coin doesn’t have to have a trillion dollars worth of platinum in it any more than a 1$ coin has a dollars worth of metal in it. It never happened, but it was discussed.
Let’s take the 00’s away from the paychecks of every congress critter supporting that mess of a country...and those demon-rat candidates for president supporting the same policies; on public or private payrolls. That’s what should happen by way of proving it’s all talk with them. Don’t want to make the sacrifices you espouse, then SHUT UP!
Priceless today: I heard Senator John Kennedy, KY answering questions asked of him, what he thought of the demon-rat debate last night and he said, “the only thing missing was the Cuban National Anthem.” That guy is a sly old fox - but maybe not so “old” as he’s pretty sharp. I really like him.
So we ask of Iran the same question we ask Baltimore: what did you Do with all the cash we gave you?
One, taxation of current income.
Two, taxation of future income through borrowing.
Three, taxation of past income through inflation.
Four, taxation of all income through confiscation.
Stage five is societal meltdown, usually through revolution.
use those to buy up our debt currently owned by China.
WOW, Can you imagine??
That would be like having $10,000 yesterday that is worth $1 today.
LA not KY
Someone of intelligence probably asked the question
“Who is going to buy the coin?”
Another good question
“What happens if they spend the coin?”
Such a scheme does not illuminate the debt it merely moves it.
The only way I would purchase such a coin is if it was like the old Gold Certificates. Redeemable on demand at the US Treasury.
Well; I guess we should see them on the street corners pretty soon.
With signs that say “WILL SUICIDE BOMB FOR SPARE CHANGE”.
the first time we went to europe pre-euro I had a million lira in my pocket. after lunch I had 200,000. easy come easy go.
“Who is going to buy the coin?”
You can google $1 trillion dollar coin to see how it would function.
Speaking of money, there are warehouses of millions of unwanted, unloved Susan B Anthony $1 coins. The storage costs are quite high, but the government can’t junk them. When they were minted, they became official money, that is 2¢ of copper-nickel instantly became $1. If the government junks them, the government takes a 98¢ loss—so it keeps them in storage.
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