TheImmortal
SENIOR MEMBER
- Joined
- Mar 11, 2017
- Messages
- 7,091
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@aryobarzan
I will let you in on a secret. No Iranian worth his weight in gold would put money into a trash depreciating currency like rial.
Right now Iranians can freely buy crypto and make inflation protected returns that dwarf holding your money in an Iranian bank.
example: let’s say Iranian banks pay you 16% to deposit your money. So you deposit for 12 months and get 16%, but in the same 12 months Iranian currency inflation was 14%.....so how much real return did you make? 2%!!!
It’s a joke! You could make 10x, 50x 100x that holding top cryptos! Yes there is risk, but there is risk holding Iranian currency as well or putting your money in an Iranian bank that tommorrow could be in an embezzlement scandal.
So Iranians are either buying gold, real estate, crypto, and stocks or smartly a combination of all of these for proper diversification among asset classes. These do well against inflation.
Investing in rial when their is no light at the end of the tunnel is not a strategy. It doesn’t matter what interest rate banks play, if the currency keeps spiraling into the abyss, Iranians will continue investing in assets that actually make a substantial real return. Making 20% interest when the currency loses 15% of its value during the same timeframe is not great.
I will let you in on a secret. No Iranian worth his weight in gold would put money into a trash depreciating currency like rial.
Right now Iranians can freely buy crypto and make inflation protected returns that dwarf holding your money in an Iranian bank.
example: let’s say Iranian banks pay you 16% to deposit your money. So you deposit for 12 months and get 16%, but in the same 12 months Iranian currency inflation was 14%.....so how much real return did you make? 2%!!!
It’s a joke! You could make 10x, 50x 100x that holding top cryptos! Yes there is risk, but there is risk holding Iranian currency as well or putting your money in an Iranian bank that tommorrow could be in an embezzlement scandal.
So Iranians are either buying gold, real estate, crypto, and stocks or smartly a combination of all of these for proper diversification among asset classes. These do well against inflation.
Investing in rial when their is no light at the end of the tunnel is not a strategy. It doesn’t matter what interest rate banks play, if the currency keeps spiraling into the abyss, Iranians will continue investing in assets that actually make a substantial real return. Making 20% interest when the currency loses 15% of its value during the same timeframe is not great.