Iran's rial plunges as Western sanctions bite

Seems like there is more than one way to get into Iran. Perhaps there is no need for military strikes after all? Or just part of the process.

http://www.bbc.co.uk/news/world-middle-east-19812482

Riot police in Iran have clashed with protesters in the capital over sharp falls in the currency, the rial.

Tear gas was used to disperse the demonstrators, some of whom were setting fire to tyres and rubbish bins. There were many arrests, reports say.

Eyewitnesses told the BBC that scores of people gathered outside the central bank, calling for the governor to stand down, chanting anti-government slogans.

The rial has plummeted to record lows against the US dollar in recent days.

http://www.aljazeera.com/news/middleeast/2012/10/2012103113527747494.html


Iranian riot police have clashed with protesters in the capital Tehran over the collapse of the rial, the country's currency, which has lost a third of its value against the dollar in a week.

Police on Wednesday reportedly fired tear gas to disperse demonstrators, including currency exchange dealers.

It was the first sign of public unrest over the plunging currency.

The fall of the rial, which has now lost more than 80 per cent of its value compared with a year ago, with 17 per cent of its value shed on Monday alone, has been largely blamed on Western sanctions imposed over the country's nuclear programme.

The rial slipped another four per cent on Tuesday to close at 36,100 to the dollar, according to exchange tracking websites.

Hundreds of police in anti-riot gear stormed the capital's currency exchange district of Ferdowsi, arresting illegal money changers and ordering licenced bureaus and other shops closed, witnesses said.

Several arrests were seen, carried out by uniformed police or plain-clothes security officers.

A protest in Tehran's historic Grand Bazaar - a complex of shops vital to the city - also took place but was quickly put down by police.

"We closed because we don't know what is going to happen" in terms of the currency market, one shopkeeper said.

No verification on this on where when and all that, but looks like a flagging event????




t

Vote Romney

Do you know what Floyd, that could put the cat amongst the pigeons for a while. When Tony "Slick & Slimey" Blair was one week away from winning, I heard him on Radio 1. I had an instant thought "No he is mad. Sh*t they are going to make a serious mistake." I have only voted once. Against Thatcher. It was a tackle vote, it didn't work and since then gave up any notion that politics holds any real long term solutions.

Back to Iran. Can anybody work out or know what the demonstrators are saying. I know through experience that loads gets lost or even down right changed through translation. So anybody any Ideas?


t

I have to say Tom I was being deeply sarcastic with my above statement.

Thatcher the milk snatcher. Remember it well. Takes yer back.

The idealist ultra right wing anarchy of philosophical dinosaurs like Ayn Rand, Robert Nozick and the right wing populist Rush Limbaugh still has its expressions in the United States and here in Europe too.

Conservative voters are living the sad delusion that compassion in political thought equates to communism and socialism which it most certainly does not.

The free for all world which the above advocate may sound pretty to them in the realm of ideas but when translated to humanity it fails as do all political and theological extremities.

Back to Iran as you say

The extreme right in the US which has the christian fundamentalist vote will always be giving Iran a hard time.

Pity they cannot direct their moral rectitude towards the wrongs perpetrated by the Israeli government instead of having their political saviours supporting them.

Floyd, just posted on "Watch this" thread. It sums up the feeling I have for the parliamentary system and how they are using the cyber attacks tp point the finger even more at Iran. every system has its day. really is time for us to move on.

They also do a good piece on the cyber attacks on US banks and how they are trying to link it all to Iran. The new cause of the financial and social collapse. Yeah right my eye.

As for the Milk snatcher. I would call her a snatch but she was my local MP from the off so you could call me a true thatchers child. That is actually scary.

I see that RT has alot of stuff on the Iran riots.

t

lawlessline wrote:
As for the Milk snatcher. I would call her a snatch but she was my local MP from the off so you could call me a true thatchers child. That is actually scary.

I see that RT has alot of stuff on the Iran riots.

t

Jesus thats awful Tom. have you had counseling lol.

When im fannying about I occasionaly have RT and Al Jazeera on in the background.
The latter does some great documentaries.

thanks Carol for the vid.


As for the milk hoarding tranny I couldn't get cunceling due to the brixton riots. I had to result to moving 1000 miles away to rediscover life.

There was another video which Burg posted on another thread which had hillary freaky stare laughing abiut the idea of sending other peoples children to die in amad meglomania idea of what is right or wrong.

Boy and just think what we coukd have won. Maybe humans deserve the stuff we go through?

t

Iran's Currency Has the Markings of a Full-Blown Crisis


http://www.resourceinvestor.com/2012/10/10/irans-currency-has-the-markings-of-a-full-blown-cr?t=commodities


Iran's Currency Has the Markings of a Full-Blown Crisis

By Kent Moors

October 10, 2012 • Reprints
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Matters are beginning to come to a head in Iran.

So far, the impact of Western sanctions – an EU embargo of oil purchases, European and US restrictions on Tehran's access to international banking, and a new move to intensify the trading restrictions even further – have had a devastating impact.

Iran's currency, the rial, has collapsed.

Riots have begun. Its government has rapidly lost its authority. And the Iranian economy is unraveling.

This has all the markings of a full-blown crisis.

It will have an uncertain impact on the region and the wider oil market. This could get very unpredictable and very nasty.

Let me explain...

THERE IS NO HYPERINFLATION IN IRAN–The Real Story Is Much More Interesting
Matthew Boesler | Oct. 6, 2012

Contrary to reports, there is no hyperinflation in Iran right now at all.

In fact, the Western sanctions imposed on Iran's oil trade are failing miserably to meet their objectives.

And a regime collapse – or even, coming short of that, another popular uprising reminiscent of June 2009 – seems further away from Iran than ever.

Meanwhile, the Iranian regime is using the current sanctions imposed against it by the West as a weapon to weaken its own fiercest domestic threat – the educated, relatively pro-Western Iranian constituency that comprises the middle class.

In this way, the economic warfare the West has waged against Iran to weaken the regime is actually amplifying the regime's control.

Before we get to that, though, we need to take a look at why there is no hyperinflation in Iran – because what is being confused as hyperinflation by outside observers and the press right now is actually the mechanism through which Iranian leaders are tightening their grip on Iranian society.

The Iranian rial plunges


The Iranian rial has been in absolute freefall against the U.S. dollar in the open market this week. Below is a chart of the currency up through Wednesday or so, when protests broke out in the money-changing centers and quotes were blacked out on currency trading websites because the plunge in the currency was so bad.

Just weeks ago, less than 25,000 rials could be exchanged for a U.S. dollar. At last check, that number is now close to 35,000:



This chart has led many observers to confuse Iran's current situation with hyperinflation. The fact is, though, that U.S. dollars aren't really an essential medium of exchange in the Iranian economy, and Iran still maintains control over the official exchange rate – closer to 12,000 rials per dollar – which dictates most day-to-day transactions.


Read more: http://www.businessinsider.com/actually-there-is-no-hyperinflation-in-iran-2012-10#ixzz28tVWdeIf

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