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Iran's currency plummets 40% in one week due to sanction. sm


Posted: Oct 3, 2012

http://www.france24.com/en/20121003-protests-erupt-sanctions-iranian-currency-plummets-oil-rial-tehran-teargas-clashes

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I have friends with family in Iran. The Ayatollah's - Revolutionary Guard are very unhappy, which means

[ In Reply To ..]
the Ayatollah has to be concerned. He can't stay in power if the Guard turns against him. The Guard since the Revolution has used its power to become extremely wealthy but are now losing vast amounts of their wealth. They are perfectly aware that many of Obama's sanctions are specifically targeting their, and especially their leadership's, fortunes. They also know how to stop the sanctions if they choose.

Needless to say, though, regular people are genuinely hurting, and human rights agencies are concerned about what may happen to them as this continues.

As it happens, right now I'm reading, "A Time to Betray," a story of a CIA agent inside the Guards. An incredibly brave (because he was so terrified) young Iranian who joined those fighting to overset the current regime after witnessing murders of friends and unspeakable atrocities against innocents and realizing just how dreadfully unholy it was.

"Iran’s President Ties Recent Drop in Currency - to U.S.-Led Sanctions." SM

[ In Reply To ..]
"TEHRAN — Iran’s president admitted Tuesday that the American-led economic sanctions on the country were partly to blame for a breathtaking 40 percent fall in value of the Iranian currency, the rial, over the past week. He pleaded with Iranians not to exchange their money for dollars and other foreign currencies.

Speaking during a news conference broadcast live by several domestic and international Iranian news channels, the president, Mahmoud Ahmadinejad, said Iran was facing a “psychological war” waged by the United States and aided by what he described as internal enemies.

He said the currency’s fall was caused in part by the sanctions imposed by the West over Iran’s disputed nuclear program, which have prevented it from selling oil and transferring money."

We're actually working in concert with the EU. Link to article below.

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