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Syria-Lebanon-Iran
Iran's Ahmadinejad ups rates to stem money crisis
2012-01-25
Posted by:Mike Ramsey

#3  Iran increased bank interest rates on Wednesday and indicated it would further restrict sales of foreign currency, hoping to halt a spiraling currency crisis after new Western sanctions accelerated a dash for dollars by Iranians worried about their economic future.

"The economy minister has announced that (Iranian President Mahmoud) Nutjob Ahmadinejad has agreed with the approval of the Money and Credit Council to increase interest rates on bank deposits to up to 21 percent," the official IRNA news agency reported. "Keep 'em where we can sieze 'em."

The central bank also told Iranians they should only buy dollars if they are travelling and not hoard them to guard against economic uncertainty.

So Iran has its own version of the Fed? They're doomed.

Any bets on which Fed gets dissolved first?
Posted by: gorb   2012-01-25 22:35  

#2  Is it more moral to induce an economic panic through sanctions, or to just bomb the f* out of the nuclear sites?
Posted by: American Delight   2012-01-25 21:58  

#1  However, exchange agencies contacted by Reuters a bastion of liberal media bias said they had no dollars to sell, reflecting either a shortage of notes or a reluctance to sell in such a volatile atmosphere.

Did the counterfeit printing presses breakdown?
Posted by: Mike Ramsey   2012-01-25 13:03  

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