Friday, October 5, 2012
Duck! Here comes the hyperinflation.
The collapse of Iran's currency, coupled with rising discontent of workers inside the country, is by far the biggest recent news in that respect. In the last few days, the rial lost 30% to 50% of its street value - 15% on Monday alone - sparking riots and clashes between police and protestors in Tehran Wednesday. Over the past year, the Iranian currency has depreciated by about two-thirds, severely affecting imports and financial stability in the country. People are starting to lose faith in Fiat currencies, is there a possibility that this could spread rapidly?