Iranian currency in free fall

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absinthe beginner
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Iranian currency in free fall

Post by absinthe beginner » Sun Jul 29, 2018 7:41 pm

Iran's currency is crashing against the US dollar. What happens if widespread popular unrest breaks out against the Mullah's regime? What will be the impact on regional stability, and the price of oil? Discuss.

https://economictimes.indiatimes.com/ne ... 185897.cms

https://www.zerohedge.com/news/2018-07- ... us-dollars

https://www.i24news.tv/en/news/economy/ ... tions-loom

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woodsghost
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Re: Iranian currency in free fall

Post by woodsghost » Sun Jul 29, 2018 7:52 pm

Last I heard,the US was positioning itself to be the leading exporter of oil? I don't know if it is true, but it is something I read. I think shale oilfields in the US and Canada would re-open as prices rise, which would give a boost to local economies. A lot of other pumps in Texas and elsewhere would get moving again. My understanding is many American oilfields don't pump unless prices reach a higher threshold.

Not to get too political, but if there was a revolution in Iran I think the region would explode in peace. Israel and the Palestinians might strike an accord. I think the region would breathe and relax. Cats and dogs would make common cause and learn to live in peace. Unless Turkey took over funding extremest groups. I have my eye on Turkey.

Just my suspicions.
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Re: Iranian currency in free fall

Post by Stercutus » Sun Jul 29, 2018 8:24 pm

I think you read what I wrote the other day which is true.

http://fortune.com/2018/01/19/us-saudi- ... ucer-2018/

The idea of supplanting the dollar as the world reserve currency with something else blew away on the wind. The fall guy?
The government last week replaced the country's central bank governor Valiollah Seif, whose policies have also been blamed for the rial's fall, and eased regulations on bringing foreign currencies into the country to combat black market trading.
Currently the Rial is trading at near three times the government sanctioned rate.

Mostly it is about sanction fears:
"Over the past few months, the country's liquidity has gone into housing, foreign exchange and gold coins, raising prices and provoking public concerns," Jahangiri was quoted as saying by the website of the state broadcaster.
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Re: Iranian currency in free fall

Post by Aikibiker » Sun Jul 29, 2018 8:49 pm

So that is why the Houthi rebels in Yemen started launching antiship missiles at Saudi tankers in the gulf of Yemen today.
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Re: Iranian currency in free fall

Post by RoneKiln » Wed Aug 01, 2018 1:21 am

American oil production is going full bore. While we could technically pump more, we have a bottleneck in transportation at the moment. It will take several years to finish up the pipelines needed.

Alaska is the only real exception. But some of their policies and taxes have been in flux the last few years which makes it real hard for the oil industry. The problem is not any of the regulations or taxes at any moment, but that they are changing so fast. The inability to accurately plan makes businesses very wary of investing. All that is needed to ramp up Alaska production is to just lock down the regulations and tax structure for a few years. Not necessarily repeal or change, just give a promise of consistency.
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Stercutus
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Re: Iranian currency in free fall

Post by Stercutus » Thu Aug 02, 2018 9:08 am

From this day to the ending of the world,
But we in it shall be rememberèd—
We few, we happy few, we band of brothers;
For he to-day that sheds his blood with me
Shall be my brother


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Re: Iranian currency in free fall

Post by Halfapint » Fri Aug 10, 2018 12:44 pm

RoneKiln wrote:
Wed Aug 01, 2018 1:21 am
American oil production is going full bore. While we could technically pump more, we have a bottleneck in transportation at the moment. It will take several years to finish up the pipelines needed.

Alaska is the only real exception. But some of their policies and taxes have been in flux the last few years which makes it real hard for the oil industry. The problem is not any of the regulations or taxes at any moment, but that they are changing so fast. The inability to accurately plan makes businesses very wary of investing. All that is needed to ramp up Alaska production is to just lock down the regulations and tax structure for a few years. Not necessarily repeal or change, just give a promise of consistency.
As someone who works for an airline that flies into places like SCC and RDB, I can confirm they are sending techs and other professionals up to AK to try to start pumping more oil. I think you'll see a lot of oil coming out of AK here in the next few months.
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