Posted on 08/21/2019 4:55:37 AM PDT by BeauBo
Iran's president sent a bill to parliament Wednesday that would cut four zeroes from the value of the Islamic Republic's sanctions-battered currency, the rial, as tensions remain high between Tehran and Washington.
By sending the bill to lawmakers, President Hassan Rouhani's government shows it is serious about an idea discussed for some time in Iran, where people discuss monetary transactions in both rials and informally, but more commonly, in tomans. A toman is worth 10 rials.
If passed by parliament and approved by lawmakers, Iran's Central Bank would in effect devalue the rial and rename it as toman.
The bank would have two years to create the new toman currency, returning a currency name that has not been officially used since the 1930s...
On Wednesday, the rial traded 116,500 to $1. At the time of the 2015 nuclear deal, the rial traded 32,000 to the dollar.
(Excerpt) Read more at thestate.com ...
I didn’t know they had pictures of Obama on their currency!
According to our Federal Reserve they must have a lot of economic growth to cause that inflation.
If they want to begin to solve their problems, they would be better off removing mullahs from their government than zeros from their currency.
Here is the truth that this article didn’t state:
“Iran is planning to remove four zeroes from its national currency, the rial, as the country struggles with soaring inflation.”
The reason is rampant inflation. The currency has lost much of its value.
My question: what happened to the 150 billion that bammy gave them in various currencies?
“My question: what happened to the 150 billion that bammy gave them in various currencies?”
Well, it got so inflated it simply floated away.
So they are going to use only the zeros on the right-hand side of the decimal point only?
“what happened to the 150 billion that bammy gave them in various currencies?”
A big cut went to enrich corrupt members of their elite, and the rest was mostly invested in subverting regional Governments, like standing up large proxy militias in Syria and Iraq, and supporting Houthi rebels in Yemen. Some terrorist train and equip, and hostile Intelligence operations. They try to keep busy.
yes and what President Trump is doing is very, very smart. He is not going to war with them - that would give the Ayatollahs something to get the people to rally behind them.
What Trump is doing is squeezing economically but it is so apparent to the Iranians on the ground that the reason is not the USA but the stupid policies of the Ayatollahs.
Smart - very smart on President Trump’s part.
Classic government treating the symptom and ignoring the disease.
Yeah, that should fix it.
The disease is American sanctions on Iran
The only cure is capitulation and the Mullahs are religious fanatics. They will avoid capitulation till the very end
Iran can sell the extra zeros to Zimbabwe. I’m sure they can use them.
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Once a fully Gold backed currency under the Sha.
Can you say “Freefall?”
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“Smart - very smart on President Trump’s part.”
I have been wanting to call it the “Trump Doctrine”
Take their money.
Not only don’t we have to sacrifice our blood and treasure - we get to take their treasure! Eventually, they will be at each other’s throats.
It is essentially re-prioritizing using our economic power, over our Military power. It is just way more efficient, and arguably more effective.
“Iran can sell the extra zeros to Zimbabwe.”
Zimbabwe wishes they could afford to splurge on some extra zeroes. Those were the days.
Q: What did they use for light at night in Zimbabwe, before they had candles?
A: Electricity.
Another triumph of socialism.
There is a hobby raising giant pumpkins. To grow to giant size, the vines must be large in diameter because the water flow through the vine is enormous while the pumpkin is growing.
Be placing a band around the vine, diametric growth is prevented. Water doesn’t flow, the pumpkin fruit withers.
Trump put a band in the form of sanctions on the Iranian vine. Iran is in fact withering on the vine
High maintenance Mullahs have needs.....................and secret bank accounts...................
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