Iran Arrests Gang-Of-16 'Currency Manipulators'

Tyler Durden's picture


A gang of 16 shady individuals have been arrested by Iranian officials for allegedly smuggling currencies outside the banking network in order to increase the value of foreign currencies and to disturb the public. As CNN reports, amid the protests in the clip below, Iran says the 16 unidentified individuals "had used an atmosphere of psychological war created by the enemy" and colluded with "certain domestic and foreign groups" to exacerbate conditions. One of the accused, allegedly, had $300mm going through a bank account and "will be dealt with soon." Those arrested "were the main players in the recent fluctuations in the foreign currency market," the Tehran Judiciary said in a statement as the public panics over a 60% drop in its currency's purchasing power in the last few weeks. Of course, a 99% drop in the USD's purchasing power is acceptable to the US public since it has been achieved over a century or so...



Via CNN:

Iran arrested 16 people Thursday, accusing them of contributing to the currency crisis plaguing the country that has triggered protests in the streets.


Those arrested "were the main players in the recent fluctuations in the foreign currency market," the Tehran Judiciary said in a statement.


The move came a day after riot police worked to disperse protests in the capital's main bazaar and nearby streets. Demonstrators chanted slogans opposing firebrand President Mahmoud Ahmadinejad and decrying the skyrocketing cost of basic goods.




The rial's plummet to historic lows is the result of international sanctions, imposed largely by the United States and the European Union in an effort to pressure Iran to sit down for talks on its nuclear program.




Ahmadinejad and the country's supreme leader, Ayatollah Ali Khamenei, have assailed the sanctions, insisting "the enemy" will fail in its efforts and is hurting the Iranian people rather than the government.




The government did not identify the 16 arrested Thursday. In a written statement, the judiciary said they "had used an atmosphere of psychological war created by the enemy" and colluded with "certain domestic and foreign groups" to exacerbate conditions."


They traded extensively in "smuggled" currencies "outside of the banking network" in order to increase the value of foreign currencies and disturb the public, the judiciary claimed, adding that they "amassed illegal fortunes."


One of the accused had $300 million going through a bank account, the statement said.


Iran warned that others "are being accused as well and will be dealt with soon."

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Thu, 10/04/2012 - 17:40 | 2857440 blunderdog
blunderdog's picture

I wish *I* lived in a country where the government cared about currency manipulators.

Thu, 10/04/2012 - 17:47 | 2857463 Pladizow
Pladizow's picture

Americans prefer their frog to be boiled slowly!

Thu, 10/04/2012 - 18:08 | 2857533 saturn
saturn's picture

So the Bernank is a domestic enemy to the U.S. by definition, LoL.

Thu, 10/04/2012 - 18:38 | 2857628 max2205
max2205's picture

I wish we "dealt" with our Ben problem sooner or later....starving seniors. What a fucking hell bound prick

Thu, 10/04/2012 - 18:40 | 2857636 The Alarmist
The Alarmist's picture

Blasphemy! Persecute him!

Thu, 10/04/2012 - 18:51 | 2857668 Mr.Bigfoot
Mr.Bigfoot's picture

Haha, my asshole Iranian step father in law just went to Iran. He always sneaks tons of US dollars when he goes. His family had been begging him to bring more. Hope they arrested his ass.

Thu, 10/04/2012 - 20:11 | 2857880 Mr.Bigfoot
Mr.Bigfoot's picture

He's also an abusive wife beater making 6 figures with his kids on Medicaid. The only Iranian I've ever know who mocks America because it's so easy to rip off government programs and send the money out of the country. But hey, how's that different from our own corporations.

Thu, 10/04/2012 - 20:17 | 2857899 JohnG
JohnG's picture

So get her out of there and monkey stomp his ass, Mr. Bigfoot.

Fri, 10/05/2012 - 00:36 | 2858365 economics9698
economics9698's picture

When the shit hits the fan governments always blame;

1.  Capitalist.

2.  Speculators.

3.  The weather.

4.  If that doesn’t work start a war.

Thu, 10/04/2012 - 17:50 | 2857472 NotApplicable
NotApplicable's picture

You seem to be forgetting about the Liberty Dollar raid.

Those Ron Paul coins... well, they could've ruined everything!

Thu, 10/04/2012 - 18:42 | 2857641 lakecity55
lakecity55's picture

As I understand it, the maker did not have a monetary value on them. TPTB are getting way nervous.

Thu, 10/04/2012 - 21:01 | 2857994 pods
pods's picture

They had a "$" sign next to the number denoting a dollar value (by dollar of course I mean FRN).  They also changed the "value" on them depending on the dollar value of silver.

Too close for comfort for the FEDs.


Thu, 10/04/2012 - 18:03 | 2857507 jaap
jaap's picture

Spoken about manipulation... (silver, it can not be 35):



Thu, 10/04/2012 - 18:09 | 2857535 saturn
saturn's picture

350 would be welcome..

Thu, 10/04/2012 - 18:36 | 2857619 vast-dom
vast-dom's picture

35 is the buffer to the dangerous for JPM resistance level of 36. This baby crosses 36 and then 38 and we go fast to 50.

Thu, 10/04/2012 - 18:40 | 2857635 lakecity55
lakecity55's picture

Yay! Fuk JPM.

Thu, 10/04/2012 - 18:05 | 2857524 JPM Hater001
JPM Hater001's picture

"I wish *I* lived in a country where the government cared about currency manipulators."

If not for the stonings and beheadings I hear springs in Tehran are awesome.

Thu, 10/04/2012 - 18:11 | 2857539 blunderdog
blunderdog's picture

I'm a guy, I'd have nothing to worry about.  I'd give up boozin' if I had access to good enough hash, too.  Heh.

Thu, 10/04/2012 - 19:05 | 2857710 123dobryden
123dobryden's picture

not to mention neverending stream of virgins

Thu, 10/04/2012 - 19:25 | 2857788 Bunga Bunga
Bunga Bunga's picture

Big Bird can eat him.

Thu, 10/04/2012 - 18:18 | 2857563 Urban Redneck
Urban Redneck's picture

All countries care about currency manipulators.  The trick is to get job in a country where you are working for the local government instead of against it.  But in a pinch, if an agitated State can't find "you " they can always pull some poor schmuck off the street and call him an "evil speculator" and simply put him to death without providing an opportunity to clear his name...

Thu, 10/04/2012 - 19:32 | 2857805 jekyll island
jekyll island's picture

If you could arrest 16 currency manipulators in the West, who would be on your list? 



Thu, 10/04/2012 - 20:15 | 2857892 JohnG
JohnG's picture

Central bankers from the 16 largest countries, starting with The Bernank and walking on down the hall.

Thu, 10/04/2012 - 17:42 | 2857442 kaiserhoff
kaiserhoff's picture

Well, the public is plenty "disturbed" here, so we must have some of the same problems.

Thu, 10/04/2012 - 17:43 | 2857445 Meesohaawnee
Meesohaawnee's picture

you mean CNN wasnt paid to write a puppy kisses story?

Thu, 10/04/2012 - 17:44 | 2857452 konputa
konputa's picture

$300M? That's all? Shiiit replace that M with a T and now we're talking finance western world style. 


Debt money bitchez.

Thu, 10/04/2012 - 17:44 | 2857454 swissaustrian
swissaustrian's picture

CIA doing gods work.

Fri, 10/05/2012 - 00:32 | 2858360 Julian
Julian's picture

The CIA outsources gods work these days...but they are definately behind it.

Tue, 10/09/2012 - 10:23 | 2870610 JimBowie1958
JimBowie1958's picture

I would hope so.

Iran is American external enemy number one, and recking their currency beats bombing their cities/facilities any day, IMO.

If Iran pursues their nuke program much longer, they will be bombed eventually, no doubt.

Just not sure bombing will do any good as the Iranians have likely rebuilt most of their pgrogram in underground facilities that avoided satelite photo detection. We can study the kind of local power grid structure to get a rough idea of what is happening locally and then confirm that through photo analysis of various building structures. It's quite likely the Iranians know how we look for these things and have been careful to hide/disguise them from us.

So we might not even know where all the facilities are, even if we could penetrate their protection with ordinance.

A bombing campaign will likely backfire on the US and Isreal, IMO.

Thu, 10/04/2012 - 17:44 | 2857456 Catullus
Catullus's picture

The rial's plummet to historic lows is the result of international sanctions, imposed largely by the United States and the European Union in an effort to pressure Iran to sit down for talks on its nuclear program.

It's funny. Because the Clinton State Department specifically denied that was the case. The propaganda machine is about #REF! on this one.

Thu, 10/04/2012 - 18:07 | 2857530 JPM Hater001
JPM Hater001's picture

In the end they have oil.  Nuf said.

Thu, 10/04/2012 - 18:32 | 2857610 Gashole
Gashole's picture

And we have the match.

Thu, 10/04/2012 - 20:41 | 2857950 Anusocracy
Anusocracy's picture

Netanyahu's face and Ahmadinejad's ass?

Thu, 10/04/2012 - 18:38 | 2857629 lakecity55
lakecity55's picture

But, why would they have a currency-value problem? I thought they were now trading in Au with the Chicoms for oil.

Also, I thought the Russians were aiding their economy. What gives?

Thu, 10/04/2012 - 20:06 | 2857882 mvsjcl
mvsjcl's picture

I'm not sure who upped you. But I sure as hell downed you. Back to Reality 101 for you.

Thu, 10/04/2012 - 17:46 | 2857461 docmac324
docmac324's picture

They wanna have a war to keep their factories
They wanna have a war to keep us on our knees
They wanna have a war to stop us buying Japanese
They wanna have a war to stop industrial disease

Thu, 10/04/2012 - 18:02 | 2857511 GoinFawr
Thu, 10/04/2012 - 19:58 | 2857867 BlackholeDivestment
BlackholeDivestment's picture

Rock the Casbah, rock the Casbah.

Thu, 10/04/2012 - 17:50 | 2857469 resurger
resurger's picture


Thu, 10/04/2012 - 18:30 | 2857606 Gashole
Gashole's picture

Two hours.  Not bad.  2nd place since I have been tracking for bringing up Jews/Mossad/Israel/Zionist/Neocon conspiracy.  Don't forget the illuminati!!!. 



Thu, 10/04/2012 - 19:08 | 2857727 Iwanttoknow
Iwanttoknow's picture

Fuck off,troll.

Thu, 10/04/2012 - 19:44 | 2857836 Gashole
Gashole's picture

I thought that this board believed in freedom. Or are only angry and paranoid losers allowed to comment?

Kish mir in tuchas

Thu, 10/04/2012 - 20:09 | 2857887 mvsjcl
mvsjcl's picture

Go away.

Thu, 10/04/2012 - 21:59 | 2858096 helping_friendl...
helping_friendly_book's picture

Read up sphincter boy! If you dare! The truth will never be suppressed.

You people are just Poles stealing Palestinian land. Squatting on other peoples land.

Ashkenazi Jews didn't even originate from Palestine. 


Fri, 10/05/2012 - 10:12 | 2859487 helping_friendl...
helping_friendly_book's picture

no retort polack?

Fri, 10/05/2012 - 17:57 | 2861235 Gashole
Gashole's picture

So what?  No matter the origins, Millions of Ashkenazi Jews feel kinship with Israel.  Been there several times. 

Proud AIPAC donor.  Love sending your tax dollars there. BTW, two of my grandparents are from Poland two from Russia.


Fri, 10/05/2012 - 18:05 | 2861250 akak
akak's picture

Gashole, do you REALLY believe that the neocon influence on US foreign policy is just a "conspiracy"? 

I would say that to deny the reality of it is the REAL conspiracy!


PS:  Let me just state in advance that there is absolutely nothing "anti-semitic" (anti-Jewish) in railing against the undue influence that the Isreali government, and their neocon allies in Washington, have on US foreign policy.  A government is NOT the same as its people.

Thu, 10/04/2012 - 17:52 | 2857476 Big Corked Boots
Big Corked Boots's picture

Hey, ya execute 16 guys selected from the list of usual suspects and your whole monetary system will be fixed. See? Economics is fun and easy!

Do NOT follow this link or you will be banned from the site!