Hyperinflation Comes To Iran/Stops Accepting US $
Jan 10, 2012 16:42:04 GMT -5
Post by PrisonerOfHope on Jan 10, 2012 16:42:04 GMT -5
Hyperinflation Comes To Iran
Submitted by Tyler Durden on 01/10/2012 12:58 -0500
Hyperinflation has struck again, this time at ground zero of the most sensitive geopolitical conflict in ages: Iran. EA WorldView reports:
An EA source reports that a relative in Tehran ordered a washing machine for 400,000 Toman (about $240) this week. When he went to the shop the next day, he was told that --- amidst the currency crisis and rising import costs --- the price was now 800,000 Toman (about $480). Another EA source says that the price of an item of software for a laptop computer has tripled from 50,000 Toman to 150,000 Toman within days.
And so the opportunity cost for the Ahmedinejad regime to preserve its status quo gradually grinds to zero, as the entire economy implodes (courtesy of a few strategic financially isolating decisions) making further escalation virtually inevitable, in a 100% replica of the US-planned Japanese escalation that led to the Pearl Harbor attack, and gave America the green light to enter the war.
www.zerohedge.com/news/hyperinflation-comes-iran
IRAN STOPS ACCEPTING US DOLLARS: They're done...
(The fall of Iraq and Libya has been attributed to their abondoning of the US dollar. Now it begins.)
In what appears as swift retaliation by Iran against U.S.-led economic sanctions imposed on the Persian Gulf state, suddenly Iran says it will no longer accept the U.S. dollar as payment for its oil shipments to India, Japan and China.
In addition, bilateral trade between Iran and Russia will break from the dollar for settlement in favor of Iranian rial and Russian rubles, according to Iran’s state-run Fars news agency.
But unlike a similarly bold move taken on Oct. 30, 2000, (effective Nov. 6) by Saddam Hussein to rid Iraq of the U.S. dollar as payment for Iraqi oil, Iran asserts the new arrangement to drop the dollar was Russia’s idea.
Submitted by Tyler Durden on 01/10/2012 12:58 -0500
Hyperinflation has struck again, this time at ground zero of the most sensitive geopolitical conflict in ages: Iran. EA WorldView reports:
An EA source reports that a relative in Tehran ordered a washing machine for 400,000 Toman (about $240) this week. When he went to the shop the next day, he was told that --- amidst the currency crisis and rising import costs --- the price was now 800,000 Toman (about $480). Another EA source says that the price of an item of software for a laptop computer has tripled from 50,000 Toman to 150,000 Toman within days.
And so the opportunity cost for the Ahmedinejad regime to preserve its status quo gradually grinds to zero, as the entire economy implodes (courtesy of a few strategic financially isolating decisions) making further escalation virtually inevitable, in a 100% replica of the US-planned Japanese escalation that led to the Pearl Harbor attack, and gave America the green light to enter the war.
www.zerohedge.com/news/hyperinflation-comes-iran
IRAN STOPS ACCEPTING US DOLLARS: They're done...
(The fall of Iraq and Libya has been attributed to their abondoning of the US dollar. Now it begins.)
In what appears as swift retaliation by Iran against U.S.-led economic sanctions imposed on the Persian Gulf state, suddenly Iran says it will no longer accept the U.S. dollar as payment for its oil shipments to India, Japan and China.
In addition, bilateral trade between Iran and Russia will break from the dollar for settlement in favor of Iranian rial and Russian rubles, according to Iran’s state-run Fars news agency.
But unlike a similarly bold move taken on Oct. 30, 2000, (effective Nov. 6) by Saddam Hussein to rid Iraq of the U.S. dollar as payment for Iraqi oil, Iran asserts the new arrangement to drop the dollar was Russia’s idea.
