People are burning the banks in Iran right now

[mindrust]

...Protests and clashes with police began Friday when petrol prices suddenly rose by at least 50% after government subsidies on it were slashed. Government statements said the plan is to divert the funds in order to make cash payments to low-income households...

There are also reports that protesters have begun targeting banks, after video was posted online of what appears to show the Central Bank In Behbahan, Iran being engulfed in flames as demonstrators chant...

https://www.zerohedge.com/geopolitical/violent-protests-break-out-iran-after-shock-gas-price-hike-subsidies-cut

Early report about middle class and upper class protesting in Tehran Pars is now confirmed. People are on t he streets chanting “down with the dictator” and burning Sina Bank.

https://twitter.com/Raman_Ghavami/status/1195732454285414400

Quite interesting they target the banks. It is like They exactly know who is responsible for their misery and suffering. I am not a fan of Islam for other reasons but maybe they were right for being against the interest scam. You will probably counter this with "we use interest because time has value" and i'll counter you with this: "gold is timeless."

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[yoseph]

I initially thought that this was fake news but after a little bit of research it seems that this is very true. But I really don't see any banks being burnt as a result of the recent price hikes in Iran. I remember this was the very decision that President Macron of France took and lead to the Yellow jacket protests. I am certain that the recent sanctions against them has taken its economic toil on the country.

[Mometaskers]

Checked out that tweet. Apparently they've also burned a university too!

Kinda weird that they took out their anger on a bank rather than directly on the government that cut down subsidies. Taking something away from people never really turn out well so there's a high potential for this escalating. Remember, the Arab Spring started from one disgruntled man burning himself in public.

[coolcoinz]

Checked out that tweet. Apparently they've also burned a university too!

Kinda weird that they took out their anger on a bank rather than directly on the government that cut down subsidies. Taking something away from people never really turn out well so there's a high potential for this escalating. Remember, the Arab Spring started from one disgruntled man burning himself in public.

That's because the more religious the society is the more hostile towards education it becomes. Religion = superstition and fear. Remember how they used to burn witches and books alike? They also feared and killed black cats and owls because those were witch helpers, and thought goats are possessed.

Actually, they might have been right about that last thing.

[coupable]

Do you really consider burning a bank as a revolutionary act during peaceful protests ??
We all fight against centralised authorities and all the traditional financial institutions, the biggest dream behind bitcoin, but this doesn't mean to burn the actual system. Just think about custmers of that bank and employees. Burning a bank is an act of crime and a civil people who protests peacefully against a relegeous Dictatorship will never burn institutions in order to burn the system.

[squatz1]

Without a doubt  due to the new US sanctions and further enforcement of such sanctions, though I don't think the people understand that there isn't much that the Iranian government is going to be able to do, unless they're willing to negotiate with the US on a new deal relating to the nuclear deal. Because the US isn't going to work with them unless they're willing to give up a lot.

As I find new news reports on the topic I'll continue to update what I've written here.

[tsaroz]

Mass protest around the world are influenced by many things. In this case targeting a bank doesn't seem like a prime objective of the protesters as they are protesting against governments decision. Banks are being targeted by another group of people who have reasons to commit the crime and they are disguising themselves as protesters. It's really easy to misguide a mass to do an activity they would in sane mind won't do.

[clickerz]

Checked out that tweet. Apparently they've also burned a university too!

Kinda weird that they took out their anger on a bank rather than directly on the government that cut down subsidies. Taking something away from people never really turn out well so there's a high potential for this escalating. Remember, the Arab Spring started from one disgruntled man burning himself in public.

What's happening in Iran? seems news is quite silent about them. The last days I see Africa is burning, more protests and dissatisfaction from their citizens. I hope this will not escalate, they are harming more their nations. Look at Hong Kong, their protest leads to investor fleeing their country, they suffer more.

[Mometaskers]

snip

That's because the more religious the society is the more hostile towards education it becomes. Religion = superstition and fear. Remember how they used to burn witches and books alike? They also feared and killed black cats and owls because those were witch helpers, and thought goats are possessed.

Don't know what to feel about this comment though, after seeing what universities, especially those in the West, have turned into. Back to the banks. There's nothing burning them would really accomplish. They got the money to rebuild the premises. Even burning the money inside does nothing, they are worthless and can be reprinted anyway if they want to.

I understand why they are pissed though. Going from 250L to 60L limit at a higher price meant they'll not be able to use their cars as much and if this also affect public transport and trucking companies, would also make the prices of other goods rise. They're not buying the redistribution shit.

[theymos]

I'm far from an expert, but AFAIK, Iran is a very socialist and authoritarian country, similar to China but with an Islamic flavor and much less competent leaders. Combined with this economic mismanagement, you have US sanctions designed to destroy the Iranian economy, and probably constant CIA activity fomenting unrest. Also, many powerful players in the US and elsewhere would love any excuse to escalate militarily with Iran. This seems like a pretty much impossible situation. I'm surprised that a little bank-burning is all Iran's experiencing. What is Iran's path forward? Can it actually continue on as-is?

[mindrust]

I'm far from an expert, but AFAIK, Iran is a very socialist and authoritarian country, similar to China but with an Islamic flavor and much less competent leaders. Combined with this economic mismanagement, you have US sanctions designed to destroy the Iranian economy, and probably constant CIA activity fomenting unrest. Also, many powerful players in the US and elsewhere would love any excuse to escalate militarily with Iran. This seems like a pretty much impossible situation. I'm surprised that a little bank-burning is all Iran's experiencing. What is Iran's path forward? Can it actually continue on as-is?

Sigh...

Authoritian, yes. Socialist, no. Typical American here thinks socialism=communism=dictatorship.

Socialism is nothing like what the Americans imagine.

From wikipedia:

The term "Socialist state" is widely used by Marxist-Leninist parties, theorists, and governments to mean a state under the control of a vanguard party that is organizing the economic, social, and political affairs of said state toward the construction of socialism. States run by Communist parties that adhere to Marxism–Leninism, or some variation thereof, refer to themselves as "Socialist states" or "workers' states".

Workers? In Iran? Nobody cares. There isn't anything like that in Iran at all.

Germany is the biggest socialist state I know for example. If you want to study socialism, see Germany.

[theymos]

Authoritian, yes. Socialist, no. Typical American here thinks socialism=communism=dictatorship.

No, what I mean by "socialism" is "a lot of central economic planning and redistribution": pretty far left on the 2-axis political compass. I'm aware of Marx's definition, but that's not really what people tend to mean nowadays. Words change, especially in politics; for example, leftists stole "liberal" from libertarians, and we stole "libertarian" from them (at least in the US).

[alani123]

Iran is far from a socialist economy. They'd be closer to a European standard Democratic-Socialist economy based on the constitution's vision for public retirement funds, health and medicaid as well, funded by taxes. Oil is a large factor in the economy still though and the government is more of a big-state bonkers autocracy other than anything else. Too much spending on military and foreign influence campaigns while people in the mainland are starving. It doesn't take long to guess why there's unrest all so often in there. Also important to note than many of the social programs were cut, supposedly in an effort to move the country closer to developing a free market, but I think it was just a move by the government to  buy time from a collapse.

Iran also claims to be self-sufficient to a large extent, but really this internal disincentive from more participation in international trade probably stifles their potential for development even more. The local economy was never in a good shape and the spiraling inflation rate is a good indicator of what actually keeps them up and running as they are. With welfare cut, and the currency collapsing, nobody is saved. The middle class loses money while they sleep and even the poorest can no longer access basic services as the government can only keep decreasing such welfare.

Makes sense to me that they'd want to burn the banks there. Iran is one of the extreme cases of how FIAT keeps crazy regimes in power, but the people have the power to say no, starting from the ground up by denouncing the government currency.

[fudster]

50% is a burden to them of course if I were there I would probably join the protest. I've always been wanting to burn a bank, if its going to happen in my country I will probably be the first to light up the fire.

This country is one of the oldest in the world, structures here dates back to the time where Sumerians were the only civilization and yet look at how they are now. Without blockchain, countries will remain as is, they should blockchain for their fiat.

[squatz1]

I'm far from an expert, but AFAIK, Iran is a very socialist and authoritarian country, similar to China but with an Islamic flavor and much less competent leaders. Combined with this economic mismanagement, you have US sanctions designed to destroy the Iranian economy, and probably constant CIA activity fomenting unrest. Also, many powerful players in the US and elsewhere would love any excuse to escalate militarily with Iran. This seems like a pretty much impossible situation. I'm surprised that a little bank-burning is all Iran's experiencing. What is Iran's path forward? Can it actually continue on as-is?

I mean I think the Iranians are stuck b/w a rock and a hard place here. They've already worked with the US on the first iteration of the Iranian deal, and they gave up all of their enriched uranium -- what they got out of it was sanction relief -- but now they got fucked, cause now they don't have any enriched uranium to use as part of their negotiations with the US to get a better deal, and their economy is under constant pressure from the sanctions.

The only thing they can do to stop this is to renegotiate the Uranium deal with the US, unless they enrich uranium again to the 2011? levels to get a better deal.

Iran probably does not have a path forward, unless they fall to the US or continue to enrich uranium and pray that the US doesn't make their sanctions worse -- as they may lose the public support battle.

[theymos]

I mean I think the Iranians are stuck b/w a rock and a hard place here. They've already worked with the US on the first iteration of the Iranian deal, and they gave up all of their enriched uranium -- what they got out of it was sanction relief -- but now they got fucked, cause now they don't have any enriched uranium to use as part of their negotiations with the US to get a better deal, and their economy is under constant pressure from the sanctions.

The only thing they can do to stop this is to renegotiate the Uranium deal with the US, unless they enrich uranium again to the 2011? levels to get a better deal.

Iran probably does not have a path forward, unless they fall to the US or continue to enrich uranium and pray that the US doesn't make their sanctions worse -- as they may lose the public support battle.

Agreed. Trump clearly got out of the deal almost entirely for political reasons, and he'd probably accept even a slightly better deal. But if Iran went along with this -- allowing a counterparty to break a deal on a whim -- it'd make them look really weak. Meanwhile, there's nothing really pressing the US to back down.

I suppose that Iran's strategy is to pick at the US and its allies with small strikes, but make it small-scale/ambiguous enough, and set things up politically (eg. pointing to the broken nuclear deal) that the US couldn't rely on many allies if it wanted to invade Iran fully. The US doesn't have the political will to sustain a real war against Iran for long. The US could do a lot of airstrikes etc., though, and I'm not convinced that small strikes by Iran will ever get them anywhere.

[KingScorpio]

...Protests and clashes with police began Friday when petrol prices suddenly rose by at least 50% after government subsidies on it were slashed. Government statements said the plan is to divert the funds in order to make cash payments to low-income households...

There are also reports that protesters have begun targeting banks, after video was posted online of what appears to show the Central Bank In Behbahan, Iran being engulfed in flames as demonstrators chant...

https://www.zerohedge.com/geopolitical/violent-protests-break-out-iran-after-shock-gas-price-hike-subsidies-cut

Early report about middle class and upper class protesting in Tehran Pars is now confirmed. People are on t he streets chanting “down with the dictator” and burning Sina Bank.

https://twitter.com/Raman_Ghavami/status/1195732454285414400

Quite interesting they target the banks. It is like They exactly know who is responsible for their misery and suffering. I am not a fan of Islam for other reasons but maybe they were right for being against the interest scam. You will probably counter this with "we use interest because time has value" and i'll counter you with this: "gold is timeless."

banks will get burned all over the world, world trade will continue to prefer western currencies

printing money doesnt make rich its hard work that does. but in a religion that says serve no one but good, there is no real readiness for sacrifices

[squatz1]

I mean I think the Iranians are stuck b/w a rock and a hard place here. They've already worked with the US on the first iteration of the Iranian deal, and they gave up all of their enriched uranium -- what they got out of it was sanction relief -- but now they got fucked, cause now they don't have any enriched uranium to use as part of their negotiations with the US to get a better deal, and their economy is under constant pressure from the sanctions.

The only thing they can do to stop this is to renegotiate the Uranium deal with the US, unless they enrich uranium again to the 2011? levels to get a better deal.

Iran probably does not have a path forward, unless they fall to the US or continue to enrich uranium and pray that the US doesn't make their sanctions worse -- as they may lose the public support battle.

Agreed. Trump clearly got out of the deal almost entirely for political reasons, and he'd probably accept even a slightly better deal. But if Iran went along with this -- allowing a counterparty to break a deal on a whim -- it'd make them look really weak. Meanwhile, there's nothing really pressing the US to back down.

I suppose that Iran's strategy is to pick at the US and its allies with small strikes, but make it small-scale/ambiguous enough, and set things up politically (eg. pointing to the broken nuclear deal) that the US couldn't rely on many allies if it wanted to invade Iran fully. The US doesn't have the political will to sustain a real war against Iran for long. The US could do a lot of airstrikes etc., though, and I'm not convinced that small strikes by Iran will ever get them anywhere.

Oh yeah, getting out of the Iran deal was done because OBAMAS SIGNATURE WAS ON IT  and conservatives didn't think the deal was strict enough.

Iran would be more then willing to get a deal done, though they'd want it to go through Congress instead of just being signed as the stroke of a pen from the President. Which is what they should've demanded from Obama (I'm assuming they did, but still)

I think that public support could shift to bombing Iran depending on what they do -- but boots on the ground is is a TOTAL NO. Unless they try to kill American soliders or something along those lines ----

[Mometaskers]

Checked out that tweet. Apparently they've also burned a university too!

Kinda weird that they took out their anger on a bank rather than directly on the government that cut down subsidies. Taking something away from people never really turn out well so there's a high potential for this escalating. Remember, the Arab Spring started from one disgruntled man burning himself in public.

What's happening in Iran? seems news is quite silent about them. The last days I see Africa is burning, more protests and dissatisfaction from their citizens. I hope this will not escalate, they are harming more their nations. Look at Hong Kong, their protest leads to investor fleeing their country, they suffer more.

.

The protest in HK is far tamer. The protesters still go to work, that's why the protests are larger during weekends. And it still haven't got to the point that buildings are erupting in flames. These protesters in Iran really want to destroy stuff. I'm surprised the Iranian government haven't yet blamed "foreign agents" for instigating the protests.

[Naida_BR]

More and more people have started hating banks and the banking system in general.
This is absolutely a great advantage for bitcoin combined to the fact that young people have already acquired bitcoin and the ecosystem becomes widely known.
I believe that more protests around the world are going to begin in the near future.