On issues that matter …

When 34,500 rials can’t buy you a burger… October 3, 2012

Filed under: Uncategorized — Srirekha @ 11:44 pm
Tags: , , , ,

One doesn’t need to know the politics between the United States and Iran to understand this situation.

Today, in an almost suicidal freefall, the Iranian rial fell 16%, marking an abysmal low against the US dollar and other foreign currencies, in what the financial markets refer to as street trading, reaching 34,500 rials to a dollar.

Now get this: $34,500 would be considered an average middle class family’s annual income in the United States at the best of times. But the same amount valued in rials won’t buy one even a humble burger at a McDonald’s anywhere in the US.

This state of economics in Iran, needless to say, is due to the harsh sanctions imposed on it by the US and other US-pressured nations. Economic sanctions against Iran aren’t going away anytime soon. Iran is not going to abandon its purported nuclear ambitions anytime soon either.

Without still getting into the history of US-Iran relations, we can well see the politics of hegemony, of eccentric and oppressive regimes and of a people caught between the devil and the deep sea.

It’s for the Iranian people to decide what they want – nuclear weapons or economic peace.

Srirekha Chakravarty


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