International trade is dying and the currency is in free fall. It fell 17% this morning. The rial has lost more than 80 percent of its value since the start of the year.
I am also hearing that the CIA may be pumping newly (CIA printed) rial into the country in an effort to destabilize the country through hyper-inflation. The Fed may think money printing boosts an economy, but the CIA knows what it really does.
Ordinary Iranians are increasingly struggling with the resulting inflation, which was officially put at 23 percent even before the latest plunge of the rial.
"Prices are rising every day and it just doesn't stop," said Khosro, a retiree who gave only his first name. He was forced to work as a taxi driver to boost his diminishing pension, he said.
Even locally made products were becoming more costly in Iran's supermarkets.
"The price of my toothpaste, a foreign brand, has tripled in just a few months. Now, I'm buying an Iranian one, but it has also nearly doubled in price," said Maryam, a young shopper.