Iranian Currency In ‘Classic Death Spiral’

Trump and Netanyahu must be licking their chops as Iran experiences massive economic turmoil.

The Islamic Republic of Iran is currently locked into a war of words with the United States. Similar to how President Donald Trump handled North Korea, he is talking tough with Iran now – demonstrating that he will not be pushed around by Muslim despots.

This was a response to Iranian President Hassan Rouhani who had warned Trump not to “play with the lion’s tail, because you will regret it eternally” and that a war between the US and Iran would be the “mother of all wars.” It is also rumored that Trump is readying missile strikes on suspected Iranian nuclear facilities.

While Iran isn’t backing down to the US or President Trump, they may have to do so in the near future because of dire economic problems the country is facing. Prof. Steve Hanke, who works as applied economist at Johns Hopkins University, claims the Iranian rial has entered a “classic death spiral.”

President Trump does not believe the Islamic Republic of Iran will keep power for very much longer. The crippling economic sanctions placed upon Iran are backing the country into a corner, which is apart of the stated plan of the Trump administration.

“After our sanctions come in force, Iran will be forced to make a choice: either fight to keep its economy off life support at home or squander precious wealth on fights abroad. It will not have the resources to do both,” Secretary of State Mike Pompeo said.

“Our hope is that ultimately the regime will make meaningful changes in its behavior both inside of Iran and globally,” Pompeo said.

Perhaps with their currency in such peril, the United States will have enough leverage to make Iran dismantle its nuclear program and implement more pro-Western reforms.

Written by Joshua Finkelberg

Joshua Finkelberg is a contributor for The Schpiel.


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