Ok, THIS is deceptively important. Like, star and highlight this.
A travel currency cap being decreased means capital controls. Capital controls are meant to keep wealth from being taken out of a country in mass. Right now, euros are a far better store of value than the Rial.
A travel currency cap being decreased means capital controls. Capital controls are meant to keep wealth from being taken out of a country in mass. Right now, euros are a far better store of value than the Rial.
Iran is trying to keep people from converting their money into the euro and then physically taking it out of the country. Such measures are typically only enacted when a country's economy is in "Shit hits the Fan" mode. That it was slashed in HALF?
This is one of the clearest indicators that the Iranian economy is going tits up that we've had, if you don't count the banks shutting down and the revelation that Iran's currency reserves have dropped by 15% in just 2 years. And the massive hyperinflation.
And the latest round of US sanctions which revealed a scheme by the IRGC Quds Force and Iran's central bank to print a metric shit ton of rials, claim they were 'oil profits', then convert them for US dollars at currency exchanges in the UAE in order to fund their activities.
And Iran having to use the aforementioned currency reserves to pay the IRGC since they couldn't use their own currency to pay them.
Plus the massive level of defections the IRGC is suffering (35%).
Economic collapse by the end of the year. I'll keep retweeting any other big indicators I see of this. I intend to do a larger thread with evidence for all of these items together to show the play-by-play and timeline of Iran's economic collapse.
/end impromptu thread.
