Iran is cutting 4 zeros from the rial as they run out of space on their notes!

[Hispo]

I am from Venezuela, si i can easily relate to that, in previous years here we have inflation which could easily go beyond 10.000% per year. Literally we had to remove eleven zeros off your banknote and prices changed while people were on a line at their preferred supermarket waiting for their turn to pay for whatever they needed.

Anyways, it is not a surprise to me to see some government antagonist of the United Sates having problems with their national FIAT, national sanctions will always have a negative effect on countries which rely much on oil and do not have much dominance over their own economy, that was and continues to be the case of my country Venezuela, if China was not such a super power as it has managed to be in these years, I am sure my government would have gotten replaced by now and also de government of the Islamic Republic of Iran.

More reasons for eastern governments to adopt Bitcoin.

[stompix]

Imagine a currency that was 1.25% of the USD in 1980 becoming 0.000085% of it.
From a peg of 80 rials to a $ it has come down to 1,150,000 rials for a dollar.

Did I say 1,150,000 rials for a dollar ?
Two months later and it's 1.410,000 rials!!!
Imagine losing 25% against the dollar in just two months!
It's got so bad they even fired their CB chief:
https://www.iranintl.com/en/202512297350

And this country on the brink of bankruptcy, with people who can't afford food or gas was called by some morons a superpower! 

[STT]

Reminds me of the old vs new Russian Ruble, I think it was a conversion of 10,000 to 1 in that case.   Whats generally true just so we aren't picking on any particular country is that with any FIAT money, this happens sooner or later.
  All the Federal Reserve says to counter this is that they don't want a disorderly market, not that the decline wont occur but by their book it will occur slowly over time not all at once as is being noticed in Iran right now.
  It looks bad but in the end citizens always end up poor holding government money, I would take the lesson as coming to us all in the end.

[Hispo]

...

And this country on the brink of bankruptcy, with people who can't afford food or gas was called by some morons a superpower! 

There seems to be some people who believe that any country which manages to get nuclear technology automatically becomes a superpower, in the case of Iran they have not gotten nuclear weapons yet, but one cannot deny they have the capabilities to do so.

Also, it catches my attention how there are people there who cannot afford to pay for gas, considering Iran has massive reserves of energy underground and they have the cheapest electricity on the planet.

I don't think Iran is at the brink of bankruptcy but they are certainly facing many economical problems at the same time.

[mindrust]

Imagine a currency that was 1.25% of the USD in 1980 becoming 0.000085% of it.
From a peg of 80 rials to a $ it has come down to 1,150,000 rials for a dollar.

Did I say 1,150,000 rials for a dollar ?
Two months later and it's 1.410,000 rials!!!
Imagine losing 25% against the dollar in just two months!
It's got so bad they even fired their CB chief:
https://www.iranintl.com/en/202512297350

And this country on the brink of bankruptcy, with people who can't afford food or gas was called by some morons a superpower! 

What difference does it make at this point? They can lose another 25% against the dollar in a couple of months and nobody there will feel anything anyway. They are already bottomed out. Tbh I don’t really understand what they did to deserve this treatment from the western countries. As far as I am concerned, these guys are only guilty because they want to have their own nuclear weapons and are he west blames them for this and fall them terrorists. In my opinion they are trying to prevent Iran to become another Russia because Russia alone is already strong enough and giving the west a very hard time.

That’s the thing with the technology developments. Once it is out and used, There will always be someone somewhere who’ll figure out the mechanism behind that tech.

[DrBeer]

I'm sure everyone is familiar with that picture of the USD losing value over a century but still that's nothing compared to this.

Imagine a currency that was 1.25% of the USD in 1980 becoming 0.000085% of it.
From a peg of 80 rials to a $ it has come down to 1,150,000 rials for a dollar.

Of course, getting their ass kicked by Israel and the total humiliation didn't help so with inflation of over 35% a year, declining oil and gas production and price the rial is on such a freefall they can't even deal with normal numbers anymore.

As banks collapse right and left, you get news like this:

Iran’s Central Bank revoked Ayandeh Bank’s operating license on Thursday, dissolving one of the country’s largest lenders due to massive losses and chronic inefficiency in another sign of gathering economic storm clouds as sanctions bite. Farzin said that the bank had 5.5 quadrillion rials ($5.1 billion) in accumulated losses, 3.13 quadrillion rials ($2.9 billion) in overdrafts, and a negative 600 percent capital adequacy ratio.

Yes, they are using quadrillions there!

If you still don't understand the sorrow of the situation, this thing:


Is worth 0.1 cents!


Each sheet in this premium toilet paper is worth 0.3 cents!

Oh yeah, and a Bitcoin is about 110 000 000 000 rials, and the whole market cap of crypto is
4 000 000 000 000 000 000 rials! Those are quintillions, when was the last time you used that number?  

What do you mean? This is SUCCESS!!! Iran, with its wise government and stable economy, has the highest real value of all real currencies! Everyone is a millionaire or even a billionaire! Which of the “decaying West” countries has been able to provide such a level of income to its citizens? )))
Of course, I feel very sorry for the people of Iran, because galloping inflation in a weak and limited economy  causes huge problems for people,  and this cannot be cured by removing zeros from paper... The saddest thing is that the people of Iran do not deserve such a fate!
I hope the people of Iran will make the right decisions and return the country to prosperity, which they deserve and which was stolen from them by dubious leaders.