Iran's currency falls 40% in past week

It's ironic nothing seems to have dissuaded their president's grip on power over the past decade, but once inflation sets in, there is no defense against it. You can't argue against hunger, as North Korea is learning. Will this economic pressure advance or relax the West's desire for military action?

 

http://www.nytimes.com/2012/10/03/world/middleeast/iran-president-mahmoud-ahmadinejad-ties-currency-drop-to-sanctions.html?_r=0

i wonder how this will play into Iran's foreign relations

@sergeantk: part of this is caused by usa-imposed (or un, not sure) trade sanctions (because of the nuclear program), the inflation will only make it worse. In the end the usa still need iran's oil though.

 

 

 

shit just got rial

  On 10/2/2012 at 9:06 PM, th555 said:

 

  Reveal hidden contents

  On 10/2/2012 at 8:53 PM, Rubin Farr said:

It's iranic nothing seems to have dissuaded their president's grip on power over the past decade, but once inflation sets in, there is no defense against it. You can't argue against hunger, as North Korea is learning. Will this economic pressure advance or relax the West's desire for military action?

 

http://www.nytimes.c...tions.html?_r=0

 

 

i see what you did there.

 

i dont think America or any country can impose trade sanctions on another unless its approved by the UN (not sure about that though). so really its not "America's" fault.

though from reading the article it almost seems like a conspiracy to strengthen the US dollar.

Edited October 2, 2012 by Frankie5fingers

  On 10/2/2012 at 8:53 PM, Rubin Farr said:

It's iranic nothing seems to have dissuaded their president's grip on power over the past decade, but once inflation sets in, there is no defense against it.

fixed

  On 10/2/2012 at 11:42 PM, Frankie5fingers said:

  On 10/2/2012 at 9:06 PM, th555 said:

 

  Reveal hidden contents

  On 10/2/2012 at 8:53 PM, Rubin Farr said:

It's iranic nothing seems to have dissuaded their president's grip on power over the past decade, but once inflation sets in, there is no defense against it. You can't argue against hunger, as North Korea is learning. Will this economic pressure advance or relax the West's desire for military action?

 

http://www.nytimes.c...tions.html?_r=0

 

 

i see what you did there.

 

i dont think America or any country can impose trade sanctions on another unless its approved by the UN (not sure about that though). so really its not "America's" fault.

though from reading the article it almost seems like a conspiracy to strengthen the US dollar.

Unfortunately, the US can impose trade sanctions on their own. The UN doesn't set foreign policy of nations. What is more, because the US economy is so large, they will not trade with any nations who refuse to follow suit in implementing sanctions (unless their economy is big enough that the US can't say no, in which case they look the other way, as in the case of China).

There is a fair bit of evidence that sanctions rarely impact leaders and the political elite and instead end up starving the people of the nation the US is imposing sanctions on, thus killing many more of the people that the US is "saving from evil tyrants".

 

I'm not really sure how you get to the conclusion that it's a conspiracy to strengthen the US dollar, but I do agree it's a facile response to just blame America.

Since the markets are at the mercy of high-speed algorithmic trading these days, this could very well be an economic Stuxnet in effect. :(

  On 10/3/2012 at 10:26 AM, chenGOD said:

  On 10/2/2012 at 11:42 PM, Frankie5fingers said:

  On 10/2/2012 at 9:06 PM, th555 said:

 

  Reveal hidden contents

  On 10/2/2012 at 8:53 PM, Rubin Farr said:

It's iranic nothing seems to have dissuaded their president's grip on power over the past decade, but once inflation sets in, there is no defense against it. You can't argue against hunger, as North Korea is learning. Will this economic pressure advance or relax the West's desire for military action?

 

http://www.nytimes.c...tions.html?_r=0

 

 

i see what you did there.

 

i dont think America or any country can impose trade sanctions on another unless its approved by the UN (not sure about that though). so really its not "America's" fault.

though from reading the article it almost seems like a conspiracy to strengthen the US dollar.

Unfortunately, the US can impose trade sanctions on their own. The UN doesn't set foreign policy of nations. What is more, because the US economy is so large, they will not trade with any nations who refuse to follow suit in implementing sanctions (unless their economy is big enough that the US can't say no, in which case they look the other way, as in the case of China).

There is a fair bit of evidence that sanctions rarely impact leaders and the political elite and instead end up starving the people of the nation the US is imposing sanctions on, thus killing many more of the people that the US is "saving from evil tyrants".

 

I'm not really sure how you get to the conclusion that it's a conspiracy to strengthen the US dollar, but I do agree it's a facile response to just blame America.

hmm, i didn't know that. i don't know much in the way of foreign policy. honestly i don't think we should have any say what so every in another country's economy. same with their politics.

and the reason i say the conspiracy thing is cause a bunch of iranians are switching their currency to ours. kinda like what happened with the euro (before greece fucked things up).

  On 10/2/2012 at 9:14 PM, BCM said:

shit just got rial

 

Since no one else laughed at this, I will. Teh lol.

  On 10/3/2012 at 6:46 PM, lumpenprol said:

  On 10/2/2012 at 9:14 PM, BCM said:

shit just got rial

 

Since no one else laughed at this, I will. Teh lol.

because it really wasn't that funny. BAM

hey, it was rial fucking funny!

  On 10/3/2012 at 10:49 AM, wabby said:

Since the markets are at the mercy of high-speed algorithmic trading these days, this could very well be an economic Stuxnet in effect. :(

While I don't think HFT algorithms are beneficial, it's a bit of a stretch to say that markets are at their mercy.

  On 10/3/2012 at 6:32 PM, Frankie5fingers said:

  On 10/3/2012 at 10:26 AM, chenGOD said:

  On 10/2/2012 at 11:42 PM, Frankie5fingers said:

  On 10/2/2012 at 9:06 PM, th555 said:

 

  Reveal hidden contents

  On 10/2/2012 at 8:53 PM, Rubin Farr said:

It's iranic nothing seems to have dissuaded their president's grip on power over the past decade, but once inflation sets in, there is no defense against it. You can't argue against hunger, as North Korea is learning. Will this economic pressure advance or relax the West's desire for military action?

 

http://www.nytimes.c...tions.html?_r=0

 

 

i see what you did there.

 

i dont think America or any country can impose trade sanctions on another unless its approved by the UN (not sure about that though). so really its not "America's" fault.

though from reading the article it almost seems like a conspiracy to strengthen the US dollar.

Unfortunately, the US can impose trade sanctions on their own. The UN doesn't set foreign policy of nations. What is more, because the US economy is so large, they will not trade with any nations who refuse to follow suit in implementing sanctions (unless their economy is big enough that the US can't say no, in which case they look the other way, as in the case of China).

There is a fair bit of evidence that sanctions rarely impact leaders and the political elite and instead end up starving the people of the nation the US is imposing sanctions on, thus killing many more of the people that the US is "saving from evil tyrants".

 

I'm not really sure how you get to the conclusion that it's a conspiracy to strengthen the US dollar, but I do agree it's a facile response to just blame America.

hmm, i didn't know that. i don't know much in the way of foreign policy. honestly i don't think we should have any say what so every in another country's economy. same with their politics.

and the reason i say the conspiracy thing is cause a bunch of iranians are switching their currency to ours. kinda like what happened with the euro (before greece fucked things up).

The US dollar's strength relative to the Iranian rial is largely inconsequential in terms of making the US dollar stronger or weaker in overall terms, especially as trade between the two nations was limited to begin with. Wish i didn't have so much reading to do this week, as would love to spend more time on this.

  On 10/3/2012 at 9:52 PM, chenGOD said:

  On 10/3/2012 at 10:49 AM, wabby said:

Since the markets are at the mercy of high-speed algorithmic trading these days, this could very well be an economic Stuxnet in effect. :(

While I don't think HFT algorithms are beneficial, it's a bit of a stretch to say that markets are at their mercy.

  On 10/3/2012 at 6:32 PM, Frankie5fingers said:

  On 10/3/2012 at 10:26 AM, chenGOD said:

  On 10/2/2012 at 11:42 PM, Frankie5fingers said:

  On 10/2/2012 at 9:06 PM, th555 said:

 

  Reveal hidden contents

  On 10/2/2012 at 8:53 PM, Rubin Farr said:

It's iranic nothing seems to have dissuaded their president's grip on power over the past decade, but once inflation sets in, there is no defense against it. You can't argue against hunger, as North Korea is learning. Will this economic pressure advance or relax the West's desire for military action?

 

http://www.nytimes.c...tions.html?_r=0

 

 

i see what you did there.

 

i dont think America or any country can impose trade sanctions on another unless its approved by the UN (not sure about that though). so really its not "America's" fault.

though from reading the article it almost seems like a conspiracy to strengthen the US dollar.

Unfortunately, the US can impose trade sanctions on their own. The UN doesn't set foreign policy of nations. What is more, because the US economy is so large, they will not trade with any nations who refuse to follow suit in implementing sanctions (unless their economy is big enough that the US can't say no, in which case they look the other way, as in the case of China).

There is a fair bit of evidence that sanctions rarely impact leaders and the political elite and instead end up starving the people of the nation the US is imposing sanctions on, thus killing many more of the people that the US is "saving from evil tyrants".

 

I'm not really sure how you get to the conclusion that it's a conspiracy to strengthen the US dollar, but I do agree it's a facile response to just blame America.

hmm, i didn't know that. i don't know much in the way of foreign policy. honestly i don't think we should have any say what so every in another country's economy. same with their politics.

and the reason i say the conspiracy thing is cause a bunch of iranians are switching their currency to ours. kinda like what happened with the euro (before greece fucked things up).

The US dollar's strength relative to the Iranian rial is largely inconsequential in terms of making the US dollar stronger or weaker in overall terms, especially as trade between the two nations was limited to begin with. Wish i didn't have so much reading to do this week, as would love to spend more time on this.

yeah, it is a pretty interesting situation. i wonder what they're gonna do. most countries whose currency starts to fall usually end up in rioting and government change.

rioting and government change always works out for the best

  On 10/3/2012 at 10:13 PM, baph said:

rioting and government change always works out for the best

 

  On 10/3/2012 at 6:32 PM, Frankie5fingers said:

  On 10/3/2012 at 10:26 AM, chenGOD said:

  On 10/2/2012 at 11:42 PM, Frankie5fingers said:

  On 10/2/2012 at 9:06 PM, th555 said:

 

  Reveal hidden contents

  On 10/2/2012 at 8:53 PM, Rubin Farr said:

It's iranic nothing seems to have dissuaded their president's grip on power over the past decade, but once inflation sets in, there is no defense against it. You can't argue against hunger, as North Korea is learning. Will this economic pressure advance or relax the West's desire for military action?

 

http://www.nytimes.c...tions.html?_r=0

 

 

i see what you did there.

 

i dont think America or any country can impose trade sanctions on another unless its approved by the UN (not sure about that though). so really its not "America's" fault.

though from reading the article it almost seems like a conspiracy to strengthen the US dollar.

Unfortunately, the US can impose trade sanctions on their own. The UN doesn't set foreign policy of nations. What is more, because the US economy is so large, they will not trade with any nations who refuse to follow suit in implementing sanctions (unless their economy is big enough that the US can't say no, in which case they look the other way, as in the case of China).

There is a fair bit of evidence that sanctions rarely impact leaders and the political elite and instead end up starving the people of the nation the US is imposing sanctions on, thus killing many more of the people that the US is "saving from evil tyrants".

 

I'm not really sure how you get to the conclusion that it's a conspiracy to strengthen the US dollar, but I do agree it's a facile response to just blame America.

hmm, i didn't know that. i don't know much in the way of foreign policy. honestly i don't think we should have any say what so every in another country's economy. same with their politics.

 

Ideally I would agree with you, but in a post-industrial age, the old days of protectionism and economic isolationism are impossible to return to, assuming they ever truly existed to begin with.

  On 10/3/2012 at 9:52 PM, chenGOD said:

  On 10/3/2012 at 10:49 AM, wabby said:

Since the markets are at the mercy of high-speed algorithmic trading these days, this could very well be an economic Stuxnet in effect. :(

While I don't think HFT algorithms are beneficial, it's a bit of a stretch to say that markets are at their mercy.

Check this out if you've got time. It shows how there are patterns emerging in HFT that are beyond our understanding.

 

  On 10/4/2012 at 12:21 AM, Smettingham Rutherford IV said:

  On 10/3/2012 at 6:32 PM, Frankie5fingers said:

  On 10/3/2012 at 10:26 AM, chenGOD said:

  On 10/2/2012 at 11:42 PM, Frankie5fingers said:

  On 10/2/2012 at 9:06 PM, th555 said:

 

  Reveal hidden contents

  On 10/2/2012 at 8:53 PM, Rubin Farr said:

It's iranic nothing seems to have dissuaded their president's grip on power over the past decade, but once inflation sets in, there is no defense against it. You can't argue against hunger, as North Korea is learning. Will this economic pressure advance or relax the West's desire for military action?

 

http://www.nytimes.c...tions.html?_r=0

 

 

i see what you did there.

 

i dont think America or any country can impose trade sanctions on another unless its approved by the UN (not sure about that though). so really its not "America's" fault.

though from reading the article it almost seems like a conspiracy to strengthen the US dollar.

Unfortunately, the US can impose trade sanctions on their own. The UN doesn't set foreign policy of nations. What is more, because the US economy is so large, they will not trade with any nations who refuse to follow suit in implementing sanctions (unless their economy is big enough that the US can't say no, in which case they look the other way, as in the case of China).

There is a fair bit of evidence that sanctions rarely impact leaders and the political elite and instead end up starving the people of the nation the US is imposing sanctions on, thus killing many more of the people that the US is "saving from evil tyrants".

 

I'm not really sure how you get to the conclusion that it's a conspiracy to strengthen the US dollar, but I do agree it's a facile response to just blame America.

hmm, i didn't know that. i don't know much in the way of foreign policy. honestly i don't think we should have any say what so every in another country's economy. same with their politics.

 

Ideally I would agree with you, but in a post-industrial age, the old days of protectionism and economic isolationism are impossible to return to, assuming they ever truly existed to begin with.

well i don't mean total economic isolation, thats simply impossible, but no free trade. except in the case of NAFTA (cause that actually works). free trade doesn't really work for the US cause we don't really make anything anymore that couldn't be duplicated by another country. the US, Canada and Mexico's economies are so intertwined that free trade does work, but for one big reason across the board free trade in America is a total failure. we import more than we export, simple as that.

Politically, the US used to be isolated. but after WWII it went all downhill when we started thinking that we needed to be the world police force. whenever i see those Navy commercials that say that the US Navy is "A Global Force For Good" i get so pissed off.

 

but like you say, well never be able to go back to that. we have our claws too deep all across the globe to just pull out.