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Future Predictions
October 2012
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<blockquote data-quote="Opmmur" data-source="post: 58718" data-attributes="member: 13"><p><strong><span style="color: #ffcc99"><span style="font-size: 22px">It is now starting: The money problems World Wide and soon death in the streets.</span></span></strong></p><p> </p><p><span style="font-size: 22px"><strong><a href="http://andrewsullivan.thedailybeast.com/2012/10/is-irans-economy-collapsing.html" target="_blank">The Iran's Economy Collapsing?</a></strong></span></p><p> </p><p>Protests <a href="http://www.guardian.co.uk/world/2012/oct/03/iran-currency-crisis-tehran-clashes" target="_blank">erupted</a> today in Tehran over the country's currency free fall, a hopeful sign for the impact of Obama's sanctions. Matthew O'Brien <a href="http://www.theatlantic.com/business/archive/2012/10/how-does-a-currency-drop-60-in-8-days-just-ask-iran/263159/" target="_blank">explains</a> the currency crisis:</p><p style="margin-left: 20px"></p> <p style="margin-left: 20px">Iran's currency has collapsed in two ways -- gradually and then suddenly. Iran is very much in the sudden phase right now. It took <a href="http://www.nytimes.com/2012/10/02/world/middleeast/irans-rial-plummets-against-the-dollar.html?hp" target="_blank">24,600 rials</a> to buy one dollar on September 24. It took <a href="http://washpost.bloomberg.com/Story?docId=1376-MB9IY10UQVI901-6Q9HTV2NJ6DT14GMDHFNQFHH08" target="_blank">39,000 rials</a> to buy one dollar on October 2. That's good for a 59 percent drop in <em>just a week. </em>This kind of currency cliff-diving is basically a bank run on the rial -- a bank run U.S.-led sanctions set off.</p><p></p><p>Chart <a href="http://cdn.theatlantic.com/static/mt/assets/business/IranCurrency2.png" target="_blank">here</a>. Dashiell Bennet <a href="http://www.theatlanticwire.com/global/2012/10/iranians-clash-police-their-currency-plummets/57560/" target="_blank">takes a deeper look</a> at the protests:</p><p style="margin-left: 20px"></p> <p style="margin-left: 20px">On Tuesday, President Mahmoud Ahmadinejad responded to currency crisis by <a href="http://www.nytimes.com/2012/10/04/world/middleeast/clashes-reported-in-tehran-as-riot-police-target-money-changers.html?partner=rss&emc=rss&smid=tw-nytimes" target="_blank">vowing to crack down on illegal money changing and speculators</a>, further angering the rather sizable number of traders (legitimate and black market) who rely on the exchanges to do business. On Wednesday morning, about 100 traders and money lenders gathered in front of Iran's central bank to demand greater action on the struggling economy, and many of the shopkeepers at one of Tehran's largest bazaars closed their stores in solidarity. Riot police quickly dispersed the group, <a href="http://www.aljazeera.com/news/middleeast/2012/10/2012103113527747494.html" target="_blank">while other officers swarmed on a popular black market</a> district, rounding up money changers in a series of "cat-and-mouse" chases. Protesters responded with larger marches and burning tires.</p><p></p><p>This is a regime on the edge. The only thing the hardliners can hope for at this point is an Israeli attack or a Romney victory and impending US war to rally the people behind them.</p><p> </p><p> </p><p><span style="color: #ffcc99"><strong><span style="font-size: 22px">The Iran people lost .60 cent on each dollar, in 7 days, in their buying power.</span></strong></span></p></blockquote><p></p>
[QUOTE="Opmmur, post: 58718, member: 13"] [B][COLOR=#ffcc99][SIZE=6]It is now starting: The money problems World Wide and soon death in the streets.[/SIZE][/COLOR][/B] [SIZE=6][B][URL='http://andrewsullivan.thedailybeast.com/2012/10/is-irans-economy-collapsing.html']The Iran's Economy Collapsing?[/URL][/B][/SIZE] Protests [URL='http://www.guardian.co.uk/world/2012/oct/03/iran-currency-crisis-tehran-clashes']erupted[/URL] today in Tehran over the country's currency free fall, a hopeful sign for the impact of Obama's sanctions. Matthew O'Brien [URL='http://www.theatlantic.com/business/archive/2012/10/how-does-a-currency-drop-60-in-8-days-just-ask-iran/263159/']explains[/URL] the currency crisis: [INDENT=1] [/INDENT] [INDENT=1]Iran's currency has collapsed in two ways -- gradually and then suddenly. Iran is very much in the sudden phase right now. It took [URL='http://www.nytimes.com/2012/10/02/world/middleeast/irans-rial-plummets-against-the-dollar.html?hp']24,600 rials[/URL] to buy one dollar on September 24. It took [URL='http://washpost.bloomberg.com/Story?docId=1376-MB9IY10UQVI901-6Q9HTV2NJ6DT14GMDHFNQFHH08']39,000 rials[/URL] to buy one dollar on October 2. That's good for a 59 percent drop in [I]just a week. [/I]This kind of currency cliff-diving is basically a bank run on the rial -- a bank run U.S.-led sanctions set off.[/INDENT] Chart [URL='http://cdn.theatlantic.com/static/mt/assets/business/IranCurrency2.png']here[/URL]. Dashiell Bennet [URL='http://www.theatlanticwire.com/global/2012/10/iranians-clash-police-their-currency-plummets/57560/']takes a deeper look[/URL] at the protests: [INDENT=1] [/INDENT] [INDENT=1]On Tuesday, President Mahmoud Ahmadinejad responded to currency crisis by [URL='http://www.nytimes.com/2012/10/04/world/middleeast/clashes-reported-in-tehran-as-riot-police-target-money-changers.html?partner=rss&emc=rss&smid=tw-nytimes']vowing to crack down on illegal money changing and speculators[/URL], further angering the rather sizable number of traders (legitimate and black market) who rely on the exchanges to do business. On Wednesday morning, about 100 traders and money lenders gathered in front of Iran's central bank to demand greater action on the struggling economy, and many of the shopkeepers at one of Tehran's largest bazaars closed their stores in solidarity. Riot police quickly dispersed the group, [URL='http://www.aljazeera.com/news/middleeast/2012/10/2012103113527747494.html']while other officers swarmed on a popular black market[/URL] district, rounding up money changers in a series of "cat-and-mouse" chases. Protesters responded with larger marches and burning tires.[/INDENT] This is a regime on the edge. The only thing the hardliners can hope for at this point is an Israeli attack or a Romney victory and impending US war to rally the people behind them. [COLOR=#ffcc99][B][SIZE=6]The Iran people lost .60 cent on each dollar, in 7 days, in their buying power.[/SIZE][/B][/COLOR] [/QUOTE]
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October 2012
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