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Josh Sigurdson talks with author and economic analyst John Sneisen about the fall of Iran's economy as centralization continue to take hold. People so often say that Iran either doesn't have a central bank or it isn't part of the global central banking complex. Well the latter may be true, but the point is, they have a central bank and central banks centralize, regardless of who's in control of it on a global scale.
The Iranian Rial is falling like a rock as it gets further and further devalued. Historically it has seen vast devaluations in 2003, 2014 and now in 2018.
The Iranian Rial has now fallen to historical lows. It has lost one third of its value in the past year alone! It now trades at 60,000 to 1 USD.
From the 1953 coup by the United States to the crisis in the 1970s and the US funded and backed chaos between Iran and Iraq to of course the vast propaganda attempting to make Iran look like the world's greatest boogeyman, of course western intervention has an affect. Sanctions certainly don't help. But this goes far deeper. This does rest on the shoulders of Iran as their responsibility in the end. The fact that they have centralized their economy so incredibly and caused so much devaluation and inflation.
All fiat currency eventually reverts to its true value of zero. It always has, it always will going back to 1024AD in China. Iran is no different. Let this be another lesson. Another example of the failure of fiat.
We will continue to follow this story closely! Stay tuned for more!