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Iran in economic meltdown (Worthless currency and hyperinflation recalls Nazi Germany)
American Thinker ^ | 10/04/2012 | Rick Moran

Posted on 10/04/2012 9:44:22 AM PDT by SeekAndFind

A currency disappearing in value and hyperinflation as a result. Not surprisingly, people don't like it very much when they go to sleep with their money being worth one amount and then wake up the next morning to find their money worth a lot less.

New York Times:

The first outbreak of public anger over Iran's collapsing currency and other economic maladies jolted the heart of the capital on Wednesday, with the riot police violently clamping down on black-market money changers, hundreds of citizens marching to demand relief and merchants in the sprawling bazaar closing their shops in protest.

Iran's official news media said an unspecified number of people, including two Europeans, had been arrested in the turmoil, which was documented in news photographs, at least two verifiable videos uploaded on YouTube and witness accounts.

Economists and political analysts in Iran and abroad said the anger reflected the accumulated impact of harsh Western economic sanctions over Iran's disputed nuclear program, as well as the government's inability to manage an increasingly acute economic crisis.

It came a day after Iran's president, Mahmoud Ahmadinejad, said at a televised news conference that the plunge in the value of Iran's currency, the rial - which has fallen by 40 percent against the dollar this past week - was orchestrated by ruthless currency speculators, the United States and other unspecified internal enemies of Iran. He urged people to stop selling their rials for dollars, a currency he once characterized as "a worthless piece of paper," and warned that speculators faced arrest and punishment.

How bad is Iran's inflation?

(Excerpt) Read more at ...

TOPICS: Business/Economy; Foreign Affairs; News/Current Events; War on Terror
KEYWORDS: currency; hyperinflation; iran

1 posted on 10/04/2012 9:44:22 AM PDT by SeekAndFind
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To: SeekAndFind

Are they 20 trillion in debt?

2 posted on 10/04/2012 9:47:14 AM PDT by TigerClaws
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To: SeekAndFind

You should be referencing Weimar Germany, not Nazi Germany.

The Weimar hyperinflation ended a decade before the Nazis came to power.

3 posted on 10/04/2012 10:02:58 AM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: TigerClaws

Don’t mock. Hyperinflation is how Obozo plans to pay off our debt.

4 posted on 10/04/2012 10:24:47 AM PDT by Blood of Tyrants (Never believe anything in politics until it has been officially denied.)
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To: DuncanWaring; SeekAndFind; odds

What is interesting is this — hyperinflation in Weimar (moderate, if not liberal republic) Germany brought in the Nazis, but Iran is already ruled by radicals — I wonder if the hyperinflation would signal a sharp shift the other way? A very sharp shift...

5 posted on 10/04/2012 9:37:37 PM PDT by Cronos (**Marriage is about commitment, cohabitation is about convenience.**)
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