From Enduring America at 13:25 GMT
EA At 11:50 GM
The Iranian Rial continues to sink, falling more than 4% today to 23900:1 vs. the US dollar on the open market.
A PLEA TO READERS AT IRANIAN.COM
A day ago I suggested that Canada's break in relations could create a panic and if so, the rial would take a nosedive. Because Canada is only one nation--though an important one to emigres, I predicted some impact on the rial but didn't expect this. Of course, it's not clear how long the effect will last or if and when the currency will fall back and to what extent.
Do you want Iran the Islamic Republic of Iran gone or at least crippled badly? Would you prefer to see Obama win in November after strking such a major blow--one with consequences for Syria as well.
A day ago I suggested what might happen if President Obama were to persuade France, Turkey and others to follow Iran's example. Today's rial panic indicates what might be. Imagine this phenomenon multiplied by ten. Even if the IRI survived, I can only imagine the kind of pressures worried insiders might bring on a stuborn Supreme Leader. At a minimum, how long could the IRI continue paying such a high price for helping Assad or pursuing nukes?
IF YOU WANT THE IRANIAN REPUBLIC GONE OR IF YOU WOULD LIKE TO SEE OBAMA WIN IN NOVEMBER THIS IS A ONCE IN A LIFETIME OPPORTUNITY.
How are policy makers overlooking a once-in-a-lifetime opportunity right in front of their noses--one that requires no troops or no big expenitures from the treasury? Please consider writing to President Obama and urging action.
Also from Enduring America and related to the above story:
Two stories pointing to the possible rise of political tensions over the weakening Iranian currency.
The head of the Central Bank, Mahmoud Bahmani, has indicated the Bank will not release reserves to bolster the currency, saying people still have dollars at home.
That answer is unlikely to satisfy prominent conservative MP Ahmad Tavakoli, who accused the Central Bank of withholding dollars. That allegation fits the news, posted on EA yesterday, that importers have been able to get foreign currency at official rates to release their goods from ports.
An EA correspondent assesses, "I think this is a full-fledged battle tween Ahmadinejad and his opponents about control of the currency market. The Supreme Leader is afraid to enter because of collateral damage."
(NOTE:Khamenei always likes to use other people as lightning rods when he is behind unpopular policies)
Time to hand out the IRI's "Dreamer of the Day" Award.
Minister of Labour Abdolreza Sheikholeslami has declared that, while there is need for economic reform, the unemployment situation is "not critical".
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