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-- this story we're following very closely here on money it's huge -- -- feel like we're the only ones doing it runaway inflation in Iran has caused a free fall in the value of the rial over the past ten days.
Citizens protesting in the streets.
And reports of widespread hoarding still could economy topple the Iranian regime let's turn former US ambassador to the United States John Bolton.
For more on this one ambassador thank you so much for coming back to the show.
Have -- following this story.
Yes I I don't think it's a serious.
As the demonstrations in the street.
That might indicate obviously the collapse of the value of the re out vs the dollar it is a problem for the government but remember also they've been anticipating.
The sanctions for a long time they have huge dollar reserves.
That they are that they are using now and that the cost of the nuclear weapons program.
Is really a small fraction even of they're reduced international oil sales yeah so it's it's a bad thing no doubt about it but not a regime threatening thing.
We're looking -- photos of people lighting fires in the street the rial has collapsed by 70% over the last past year and you don't think that's a big deal.
I think it's.
These demonstrations were serious they would have been repressed in the same way that the regime repress the demonstrations after the fraudulent elections of June 2009.
You know most Iran hands the vast majority of the of the population.
Couldn't care less what the exchange value of the currency is because they have no need of dollars and they don't buy in the international markets they don't consume goods that you.
Import with dollars and the regime understands that this is a limited number of people they say I'm not I'm not saying it's a good thing but it is not regime threatening.
I'm reading reports about people hoarding -- courting bread not buying need.
It buying only enough to get through the day.
You think this is these are not accurate reports are not -- yes.
Well they may well be the economy in Iran is not in good shape but not because of the sanctions but because of of thirty years of an economy being run by religious leaders this this is a rarely a good thing to do in Iran is proof of that.
You say that -- you know -- demonstrations -- artists out of control as the pictures and some of the videos that I've seen on YouTube.
Make it seem that they would go in and suppress it -- -- -- not suppressing it because they're losing control.
OK well let's let's -- buck on it now snow actually -- put a complete is I meaning you weren't the expert I'm just asking you because I'm looking at pictures I'm looking at video.
And I'm reading reports and to -- It looks like it's a big problem it and you you just really don't think so.
I don't think so there have been.
Around Iraq around Iran for three decades because of economic mismanagement.
I don't think this regime is popular.
And I don't think it's handled the economy well for thirty years.
But you know the Soviet.
Economy wasn't handled well for seventy years and it took a long time for that government default ambassador Bolton thanks so much for coming on the show very interesting perspective.
I learned something new every time we do these segments thank you for coming on.
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