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Riots Erupt in Iran Due to Currency Collapse

Snippets from the linked article and videos are being used in the following summary under the Fair Use Clause of the U.S. Copyright Act, Title 17, Section 107.

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Protests calling for the president's resignation erupted in Tehran's main bazaar, Iran's commercial hub, on Wednesday in reaction to the plunge in the value of the country's currency, which has fallen by more than a third against the dollar since Sept. 24.

The protest marked the first time in three decades that the conservative merchant classes, a backbone of the Islamic Revolution in 1979, have publicly turned against the government.
Tens of thousands of merchants, shopkeepers, workers and others marched around the area chanting for President Mahmoud Ahmadinejad to quit.
http://online.wsj.com/article/SB10000872396390443768804578034402848509458.html



Short Video of Riots & Protest Marches (Oct 3, 2012)



Caption of Riot Video
"today, 3.10.2012, people of Tehran took the streets and chanted slogans against poverty and the Islamic regim. The protest broke out after closure of Bazar following currency drop. Very soon after thousands of people joined the protest which turned violence in other areas in Tehran."



In-Country News Report (Oct 3, 2012)
CNN's Reza Sayah reports there is panic and fear among Iranians as their currency plummets in value.





Currency War Briefing Video (Jan 26, 2012)
James G. Rickards discusses how the U.S. is engaging in currency warfare with Iran.


Added: Oct-3-2012 Occurred On: Oct-3-2012
By: joe prole
In:
Regional News, Politics
Tags: Currency devaluation, Iranian rial
Location: Iran (load item map)
Views: 2017 | Comments: 102 | Votes: 4 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
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  • LOL, I like how this guy is calmly talking about it as if its not going to happen in the US. Like we're immune from financial collapse or something, haha. This country is going to be a global spectacle when the financial mega turd really hits the fan.

    Posted Oct-3-2012 By 

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    • @Saros

      So true. But the destruction of our currency is a poison pill for most other countries, considering the investments by private investors and governments in our markets and currency, not to mention the global trading tied to our economy. If we go down, most of the world will go down, too. So, at first, there will be frenzied attempt to put out the fire, before everyone rushes for the exit at the same time.

      Posted Oct-3-2012 By 

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    • @joe prole Yeah, my guess is that's why we've managed to stay afloat as long as we have. People don't WANT us to fail because we would fuck the world up bad.

      Even so, we can only continue to rack up so much debt for so long. Eventually the numbers just don't add up and the fan starts spinning and the pants comes down.

      Posted Oct-3-2012 By 

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    • @joe prole
      When they all collapse, that's when they will installed a one world currency. The NWO is here.

      Posted Oct-3-2012 By 

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    • @SpirituallySafe

      Exciting times, huh? It will be painful for most. But it's also a very rare gift to live in times of such monumental transitions.

      Posted Oct-3-2012 By 

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    • @joe prole Um... yeah. A "gift".

      Posted Oct-3-2012 By 

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  • Comment of user 'Rothschad' has been deleted by author (after account deletion)!
  • Well this should be fun to watch.
    Fuck you Iran, die!

    Posted Oct-3-2012 By 

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  • he says imagine the dollars in your pocket turning to 30 cent on the dollar .i remember full well in 2008 my house value going from 200,000 to 58,000 and my 401k going down to 50% ..so i dont have to think how shitty it feels .we should have rioted to

    Posted Oct-3-2012 By 

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  • America destroying yet another country...

    Folk say Muslims are the cancer of the earth but it's really all Americas doing. More and more I have come to realise it is the Americans that are this cancer, their destruction, chaos and what results from it...

    And that's an Irish point of view.

    Posted Oct-3-2012 By 

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  • FUCK IRAN< FUCK MA HAM MAD FUCK ALLAH , FUCK YOU

    Posted Oct-3-2012 By 

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  • Very good.

    Posted Oct-3-2012 By 

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  • OH NO! Here it comes.

    Posted Oct-3-2012 By 

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  • Dinner Jacket is just that,he doesn't wear the pants.

    The Ayatollah does,so,what's the point.

    Posted Oct-3-2012 By 

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  • 1.00 IRR = 0.0000814098 USD Muhahaaaaaaaaaa

    Posted Oct-4-2012 By 

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  • Comment of user 'SlipperyWhenWet' has been deleted by author (after account deletion)!
  • look who's interested in the dollar now!?! hahaha.

    Posted Oct-4-2012 By 

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  • "Oh, I heard that our economy is having a hard time"
    "really? So why don´t we set the city on fire?"

    Posted Oct-3-2012 By 

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  • Comment of user 'wormhole' has been deleted by author (after account deletion)!
  • Allah will fix it.

    Posted Oct-3-2012 By 

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  • That played into the us hands.

    Posted Oct-3-2012 By 

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  • Amusing.

    Posted Oct-3-2012 By 

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    • @plokiju

      Peoples suffering is amusing to you?

      All because of what again, their religion, yet the US constitution upholds the freedom of religion within its own borders. Otherwise what threat is Iran posing to you as an AMERICAN? Tell me what type of threat?

      Posted Oct-3-2012 By 

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    • @mphatik Iran could parboil in its OWN oil for all we care.

      Posted Oct-4-2012 By 

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  • Looks like the Bankers will get their Central Bank in Iran after all, just like Libya.

    Posted Oct-3-2012 By 

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  • So their currency collapsed? Economy is tanked because of sanctions? Looks like last resort to restore economy is WAR?!?

    Posted Oct-3-2012 By 

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  • Not an Arab Spring; looks more like a Persian Fall, in more ways than one.

    Posted Oct-3-2012 By 

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  • Ahmadinejad isnt the problem...its the Ayatollahs!!

    Posted Oct-4-2012 By 

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  • Comment of user 'ebatrakom' has been deleted by author (after account deletion)!
    • @ebatrakom That's a good question -- what about the oil. It could be that the price of oil is something they really can't influence. To raise the price of it would only price themselves out of the market. To shut off the taps would only make their economy worse. Could well be we have them over a barrel, literally and figuratively.

      Posted Oct-3-2012 By 

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    • Comment of user 'ebatrakom' has been deleted by author (after account deletion)!
    • @ebatrakom Well, they'll have money, its just that inflation has run amok.

      Look at it this way too -- if their money has plummeted in value and all oil is priced in dollars, then even the oil they sell is sold at a fraction of what it was going for before.

      If a Rial has dropped to a third of its value against the dollar (which is what oil is sold in), then they will receive 1/3 of what they were getting before. Its almost diabolical. We have some evil people working the US Government. On th More..

      Posted Oct-3-2012 By 

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    • @ebatrakom

      It all depends what currency, or other commodity, is tied to their black-market oil sales. Until just a few years ago, almost all oil transactions worldwide was pegged to the US dollar (petrodollar), not local currencies. Ironic, huh?

      Posted Oct-3-2012 By 

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    • @Saros they only have north korea, and the russians willing to BUY their oil..

      Posted Oct-4-2012 By 

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  • The guy in the second video clip mentions how the money in the Iranian peoples pocket lost 70% of it's value in a few weeks.

    We haven't seen it so drastically, but our slower devaluation of the dollar by "printing" more of it, and the federal government borrowing billions of dollars a week.

    12 years ago:
    gallon of gas $1.27 Barrel of Oil $30
    Lb of coffee $3.44
    Loaf of bread $1.72
    dozen eggs 89 cents
    Minimum wage 2000= $5.15

    today:
    Gallon of gas $3.50 -$4.50 Barrel of oil today More..

    Posted Oct-4-2012 By 

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  • Fuck Iran, Fuck Muslim Fuck Islam. NUKE THEM ALL>>...

    Posted Oct-3-2012 By 

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  • Comment of user 'Americanalltheway' has been deleted by author (after account deletion)!