Iranian President Hassan Rouhani and his cabinet have recently been optimistic about the surprising rise in the indicators of the Tehran Stock Exchange, calling it proof that the public trust the regime’s economic policies.
Rouhani said: “Some outsiders who are propagandizing that the Iranian people do not trust the establishment are lying and our economic situation, our stock market situation, proves that they are lying.”
While government spokesperson Ali Rabiei expressed joy that money was heading to the stock exchange instead of housing, coins, and currency markets, claiming that this would lead to economic growth.
But it hasn’t taken long for this to be exposed by the regime’s own financial experts as a government-run scam to steal the people’s assets, likely to compensate for the budget deficit that is linked to low oil prices and sales.
The regime had to find a new way to rob the people after all sources of currency earnings reached zero, in addition to hiking the prices of government services (i.e. water and electricity) and raising the cost of goods. The latter two methods raised roughly $36 billion in two months, according to the Chairman of the Article 90 Parliamentary Commission.
With regard to the stock market, the shares of companies and institutions that have gone bankrupt, rendering their shares worthless, have been sold at exorbitant prices using deceitful advertisement and securities fraud. In one case, this increased share prices by 100 times their actual value.
However, this false growth is now exposed and the bubble will soon burst, leading to yet more poverty among the people after regime officials have squandered the money of the people who invested.
Indeed, stock market indices have been going down for several days now and it seems like this trend will continue. This will prove devastating for the regime, which the mullahs already know.
They are comparing the situation to that of credit institutions, who could people to invest and essentially stole their money. This is a decent comparison, but victims of credit institution number about 100,000, whereas there could be millions of victims of the stock markets scheme. Also, the regime could deny involvement with financial institutions previously, even if no one believed them, but there will not be able to deny their connections in this case.
This could lead to major protests or even an uprising, which would shake the regime to its very core.