Users Online Now:
GLP Poker Rooms
Donate To GLP
Back to Forum
Back to Thread
REPLY TO THREAD
A Rare Occurrence In The Saudi Currency Market Tells You That Trouble Is Brewing In The Middle East
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 1211168:MV8yMDA3NzIwXzMzNzM0NDM5XzUzMjdDQzEz] Via The Lede and Business Insider, which has an eye-popping graph showing what’s happening to the rial right now. We’ve all got debate fee-vah tonight but I want to put this on your radar screen in case things start to spiral in Tehran. The point of nuclear sanctions was to put Iran’s economy in a vise so that public discontent would force the regime to either back down on uranium enrichment or risk destabilization from within. Here’s a destabilizing tremor now: Clashes and at least one spontaneous protest erupted in Tehran on Wednesday over the plunging value of Iran’s currency, as black-market money-changers fought with riot police who were dispatched to shut them down, and hundreds of angry citizens demonstrated near the capital’s sprawling merchant bazaar, where many shops had closed for the day. The official media reported an unspecified number of arrests including two Europeans. The clashes were the first instance of a violent intervention over the money-changing business in Tehran since the currency, the rial, which had been gradually losing value in recent years, dropped drastically over the past week, losing 40 percent of its worth against the dollar, to a record low… “They spend billions of dollars to keep Syrian President Bashar al-Assad in power, but now they say they have no money!,” one garment seller screamed as he was cheered on by others, witnesses reported. A team from Iran’s state television was nearly attacked when its reporter turned to the camera saying that the people behind him had been upset over a robbery. http://hotair.com/archives/2012/10/03/protest-breaks-out-in-iran-as-currency-crumbles-under-sanctions/ [youtube]http://youtu.be/pBXp5sMFr_4[/youtube] [youtube]http://youtu.be/Ljg4TZktuKQ[/youtube] [/quote]
An important shift is developing in Saudi Arabian currency derivatives markets as Iran becomes engulfed in populist protests amid hyperinflationary pressures and armed conflict breaks out between Turkey and Syria, heightening concerns about tensions in the Middle East.
The 12-month forward rate on the Saudi Arabian riyal – or the difference between how many riyals traders think a dollar will be able to buy a year from now versus how many riyals a dollar can buy today – has been hovering just above zero for the past two weeks.
In other words, as pointed out by BNP's Bartosz Pawlowski, traders are expecting the riyal to depreciate against the dollar.
And that is something that almost never happens – unless markets are getting really worried about Saudi Arabia, one of the most stable countries in the region.
link to www.businessinsider.com
Pictures (click to insert)
Big Round Smilies
Aliens and Space
Friendship & Love
Misc Small Smilies
View All Categories
Next Page >>
People Wearing Sagging Pants Face $500 Fine, Jail In Florida City
U.S. Admits Its MH17 ‘Evidence’ is Based on YouTube Clips & Social Media Posts
The Internet Sales Tax is Back - And this time it might pass
Connecticut Courts want Citizens Disarmed
Robots Are Set to Conduct National Security Clearance Interviews
HOPE X: Citizens Band Microwave Spectrum And Free Internet For All
Parental rights in bull's-eye of Senate fight Dire warnings issued as supporters try to advance 'disabilities' treaty
The UK is about to unleash a 'fart machine' on France
Residents in a Florida town are shocked to learn some of their local cops were initiated into the Ku Klux Klan.
Obama Refuses to Add Religious Exemption to Homosexual Employment Mandate
IMF, World Bank, Giant Consultants Admit The Storm Is Coming
US Military Once Planned on Building Surveillance System on the Moon
How does each state feel about the military?
You Can Now Send Messages Even When You Don't Have Cell Service
The Manipulation of the Human Psyche
A Tweetbot Caught the Russian Gov't Editing Flight MH17 Wikipedia Info
Military To Scan Soldier’s Brains For Signs Of Disloyalty?
Venezuela's Breathtaking Air Tax
Almost everyone involved in developing Tor was (or is) funded by the US government
Mount Rainier will erupt again – magma rising in enigmatic volcano
US Sentencing Commission Votes Unanimously to Reduce Drug Sentences Retroactively
Gun Control: Bill Would Outlaw Firearm Brands On Kid's Clothing And Colorful Guns
The sun has gone quiet…solar cycle 24
New study shows how existing cropland could feed billions more
New Obama rule could force cities to house illegals
Disclaimer / Copyright Info
with questions or comments about this site.
"Godlike Productions" & "GLP" are registered trademarks of Zero Point Ltd.
Website Design Copyright © 1999 - 2014 Godlikeproductions.com
Page generated in 0.006s (5 queries)