TheImmortal
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I have said this nearly two years ago, I'll say this again. Iran has huge copper mines. Iran needs to go to a copper backed rial.
1000000 banknote = approx 60 USD
500000 banknote = approx 30 USD
100000 banknote
50000 banknote = approx 3 USD
25000 banknote
15000 rial = approx 1 USD
10000 banknote
5000 banknote
5000 rial coin - 100% pure copper troy ounce coin
2500 rial coin - copper half troy ounce
1250 rial coin - copper quarter troy ounce
500 rial coin - copper dime 1/10 of a troy ounce
50 rial coin - copper-nickel-aluminum penny
And I explained:
Iran steel industry blasts out of the blocks despite sanctions
Having read the reports of Steel production in Iran..it reminded me of a program I saw on TV few years back (I think it was NOVA). The program was about the Viking swords and why they were so effective. After doing some detailed analysis of some of the swords excavated they realised that Viking...defence.pk
The West would collapse the price of copper, that is why I valued the copper one ounce coin at 5000 rial. So that when copper prices are cut in half, 1USD = 30000 rial.
Have the Iranian rial value fixed to the price of copper.
You cannot fix an fiat currency to a precious metal. Because what will happen is heavy manipulation at times of budget deficits where other countries will take advantage of arbitrage opportunity in predicting future price direction of copper vs iranian rial. This is one reason US abandoned it under Nixon. Too many counties were converting dollars to gold and calling it back to their banks. This was impacting the dollar as the US had to burn more currency to exchange for gold to satisfy obligations.
The best iran can do is a floating basket of world currencies and top crypto to tie its currency too. But simply just having sustainable economic growth in excess of 5% will strength the currency as well as slashing zeros and moving to toman.