Economy is for donkeys

“Economy is for donkeys”: Ayatollah Khomeini Ayatollahs & Rial’s misery

Just as the strength of a corporation is reflected in the price of it’s stocks, the strength of a nations economy can also be simply gaged by the value its currency.

Before the Islamic revolution in Iran the value of US Dollar to Iranian Rial was approximately 70 to one. 28 years later, US dollar trades more than 9000 times Iranian Rial reflecting more than -127% depreciation in Rial’s value vs. Dollar (5% per year)

While the price of one barrel of oil has tripled from $30 to $90 in the past 5 years, Iran being OPEC’s second petroleum exporting country in the world (4,000,000 barrels per day!), the value of it’s currency has reduced by -93% in comparison to Euro and -14% versus US dollars during the same time period! (

The substantial drop in value of Rial while its income from oil has tripled in the past 5 years is an obvious reflection of poor economic of policies of Islamic Regime in Iran as well as a proof that Iran’s oil income has been grossly misappropriated (and stolen) by the Ayatollahs instead of being directed to production within its own economy.

A comparison of Iran’s currency to most countries in all the 5 continents of the world from Africa to Asia, Europe, Australia and America, shows how miserable the devaluation of the Iranian Rial and economic policies of Islamic regime has been:

Currency valuations vs US Dollar 11/27/2003 to 11/27/2007

BRAZIL REAL +63%
CANADA DOLLAR +32%
SUDAN D INAR +31%
PHILIPPINE PESO +30%
S KOREA WON +29%
EUROPE EURO +24%
KAZAKHSTAN TENGE +23%
RUSSIA RUBBLE +22%
AUSTRALIA DOLL AR +22%
NIGERIA NAIRA +20%
TURKEY LIRA +20%
U GANDA SHILLING +16%
MALAYSIA RINGGIT +13%
LI BYA DINAR +11%
KUWAIT DINAR +7%
MEXICO PESO +3%
JORDAN DINAR +0%
IRAN RIAL -14%

$ BARREL OF OIL +200%

Data source: http://www.oanda.com/convert/fxhistory & http://education.yahoo.com/reference/fact book/countrycompare/oil/2d.html;_ylt=AowoN NDsS6QX6cYJEIqWaVPPecYF

 

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