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It’s All Falling Apart: Iran Edition

John Galt

From Currency Wars by Jim Rickards, the Afterword:

In 2012, we saw the rise of actual warfare with currencies as the weapon. Here we refer to Iran.

…This increase injected hyperinflation into sectors of the Iranian economy and a run on Iranian banks as depositors raced to withdraw their funds and convert them into hard assets for protection.

And here we are some 13 years late boys and girls, with Iran on fire tonight and riots breaking out all over Iran due to a sustained period of hyperinflation that has finally forced a breaking point on the citizenry. A citizenry mind you with limited access or ability to afford hard assets like gold, silver, or platinum unlike those who live in East Asia, Europe, or the United States.

What does a hyperinflation like this look like?

This chart from Bonbast of the Iranian Rial compared to the US Dollar should provide some perspective:

Needless to say, when a fairly civilized group of people who have grossly restricted freedoms in addition to a massive Weimar style hyperinflation all hell breaks loose.

And that’s pretty tame compared to some other videos.

The colleges are on fire again in Iran.

Even towns like Hamedan are starting to see the young and middle class rising up.

Soleimani was not universally loved, despite what the left in America and Europe attempted to preach.

Isfahan is a crucial province and if Tehran appears to lose control, look for a harsh response from the IRGC.

Why work if your earnings do not provide for one’s family? Look for more stories of factory workers joining in for a clue as to where this is heading.

Tehran and tear gas, a familiar story and this time, potentially more dangerous.

Apparently the Iranians are daring Israel to attack them which would help quiet the protests and unify the nation.

Stay tuned as this is an explosive situation and rumors of Iranian allies rushing supplies via military transport (still unconfirmed) indicate that maybe there is a rush to preparation for a renewed conflict with Israel after Netanyahu’s meeting with Trump might be a green light for a threatened new attack on the Iranian missile and nuclear programs.

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