Friday, October 2, 2020

The Iranian Currency is Crashing on Black Markets

Prof. Steve Hanke reports:

 The Iranian rial has reached 300,000 IRR/USD in the black (read:free) market. By my accurate measure, Iran's Inflation is soaring at 162%/yr, and the rial's BlackMarketPremium is 614%! The ONLY way to save Iran is to implement a gold-backed currency board.

Money printing destroys economies. The US is now printing at an accelerated pace. 

Will price controls and currency controls be part of the United States experience in 2021, regardless of who is president?

 Hug your gold coins.


1 comment:

  1. Will this result in Iran going to war, like the US likely would? Bait and switch? Patriotism? When all else fails the missiles sail?