Iranian Currency Crashes

The Iranian rial has crashed. Over the past 36 hours, it has lost almost 30 percent of its value. The value of the dollar against the rial is now up around 300 percent from what it was just a couple years ago. After long denying that the sanctions have had any effect on Iran, President Mahmoud Ahmadinejad now blames outside “enemies” for the country’s economic trials. As the price of foodstuffs climbs for ordinary Iranians, the Iranian leadership hopes that it can blame economic hardship on the West and on sanctions. They will be fooling themselves. While Iranians would rally around the flag in the event of military confrontation or should any foreign power partner with the terroristic and cult-like Mujahedin al-Khalq against the regime, at no point have ordinary Iranians accepted their leaders’ attempts to blame the West for Iran’s financial predicament. Iranians are not fools: they recognize the result of the regime’s gross economic mismanagement.

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Iranian Currency Crashes

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