More thumping of the chest; what else can we expect from these losers? The economy is in shambles even according to Obama. So I checked it out as we know Obama is the father of lies but actually for once he made a true statement! Obama make a true statement! Friends you do know that is a history making moment! Still with the currency becoming worthless and trade is increasingly done in US dollars, the big Satan that is America has conquered Iran. I will send a few of my homies from Compton to thump a few of their chests too. Check this:
The slide had begun, and dollars quickly became scarce, says Djavad Salehi-Isfahani of Virginia Tech, an expert on Iran’s economy.
“When they thought the dollar is going to become more scarce people rushed to buy these and they basically disappeared from Tehran. Today if you go to a private exchange, these money-changers in Tehran, they’ll say, they don’t have foreign exchange, they don’t have dollars,” Salehi-Isfahani says.
Iranians who want to travel outside the country can’t buy enough dollars to make the trip. Iranians whose children are studying abroad can’t buy dollars to pay for their courses or cover their rent.
Businessmen who import goods from China or Europe can’t get the foreign exchange to finance their purchases.
By New Year’s, the rial had lost half its value. And Hossein Askari was predicting it could get much worse. Askari is a specialist on the Iranian economy at George Washington University.
“This could be an avalanche. What you’ve seen over the last month or two is about a 50 percent depreciation. But I think if really panic sets in, it could be several hundred percent,” Askari said.
Panic did hit the currency market in Tehran this week, with the threat of new banking sanctions imposed by the United States and a decision by the European Union to stop buying Iran’s oil by July 1.
On Tuesday, the exchange rate plummeted to 23,000 rials to the dollar.
Source: Growing Pressures Prompt Plunge In Iranian Currency
by Mike Shuster
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More thumping of the chest; what else can we expect from these losers? The economy is in shambles even according to Obama. So I checked it out as we know Obama is the father of lies but actually for once he made a true statement! Obama make a true statement! Friends you do know that is a history making moment! Still with the currency becoming worthless and trade is increasingly done in US dollars, the big Satan that is America has conquered Iran. I will send a few of my homies from Compton to thump a few of their chests too. Check this:
The slide had begun, and dollars quickly became scarce, says Djavad Salehi-Isfahani of Virginia Tech, an expert on Iran’s economy.
“When they thought the dollar is going to become more scarce people rushed to buy these and they basically disappeared from Tehran. Today if you go to a private exchange, these money-changers in Tehran, they’ll say, they don’t have foreign exchange, they don’t have dollars,” Salehi-Isfahani says.
Iranians who want to travel outside the country can’t buy enough dollars to make the trip. Iranians whose children are studying abroad can’t buy dollars to pay for their courses or cover their rent.
Businessmen who import goods from China or Europe can’t get the foreign exchange to finance their purchases.
By New Year’s, the rial had lost half its value. And Hossein Askari was predicting it could get much worse. Askari is a specialist on the Iranian economy at George Washington University.
“This could be an avalanche. What you’ve seen over the last month or two is about a 50 percent depreciation. But I think if really panic sets in, it could be several hundred percent,” Askari said.
Panic did hit the currency market in Tehran this week, with the threat of new banking sanctions imposed by the United States and a decision by the European Union to stop buying Iran’s oil by July 1.
On Tuesday, the exchange rate plummeted to 23,000 rials to the dollar.
Source: Growing Pressures Prompt Plunge In Iranian Currency
by Mike Shuster