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@ipso facto re Iran bans 1,300 imports over currency weakness

Posted by Mr.Copper @ 13:20 on June 25, 2018  

I took out the meaningfull highlights of the story. I think the USA economy and living standards would benefit from a US Dollar collapse.

Short term pain for long term gain. No pain no gain. The story about Iran below, is what the USA needs for prosperity. In my opinion of course.

If all countries did the same thing, all those global corporations that got away with crossing borders for their own benefit would end up pulling their pudding. Shorting global corporations might be a good idea.


protests against the plunge of its currency to record lows.

the rial’s collapse, which is disrupting business by driving up the cost of imports,

import ban on 1,339 goods that could instead be produced within the country,

Prohibited imports include home appliances, textile products, footwear and leather products, as well as furniture, healthcare products and some machinery,

pushing Tehran back toward running a “resistance economy” designed to conserve foreign exchange reserves and become as self-sufficient as possible in many products.

With Iran now aiming to close its markets to many foreign products and the government intervening to support locally owned companies,

justifying its latest clampdown on imports by citing economic security.

the ban would prevent an outflow of $10 billion of foreign currency.

Concern about the rial’s vulnerability is prompting ordinary Iranians to pour money into non-cash assets.

Tehran real estate prices have climbed and Iran’s stock market has jumped 17 percent since the end of May to a record high. Prices of gold coins have also risen sharply, local media reported.



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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.