Rallies have been held recently throughout Iran by those plundered by the Iranian stock market. The National Council of Resistance of Iran (NCRI), and the People’s Mujahedin of Iran (PMOI / MEK Iran), reported that following the burst of stock market bubble growth, many have lost their life savings. Outgoing President Rouhani and Supreme Leader Khamenei had historically encouraged the purchasing of shares to compensate for the budget deficit.
Ahmad Alirezabei, a regime MP said on Tuesday at a parliament public session questioning the Minister of the economy; “People do not trust you anymore. What clearer explanation for this distrust of 50 million Iranians who lost their life savings in the stock market under your responsibility.”
President of the Securities and Exchange Organisation, Dehnavi said acknowledged earlier this week that the regime had compensated a huge part of its budget deficit from profits made by manipulating the stock market.
Dehnavi said on the Clubhouse social media network on 16 April that “The stock market has provided 6.8 trillion rials (approx. $28 billion) for the economy; the stock market has been the government’s source of income last year.”
The result of the stock market manipulation could be considered the largest example of systematic corruption and plundering through Iranian modern history.
On June 22, 2020, Khamenei encouraged people to “invest at the stock market.” “Coins and dollars shouldn’t be invested on, but the stock market is a place to invest,” said Rouhani on 12 August.
Khamenei and Rouhani were clearly behind the plundering plan. The regime and international economists have pointed out that the stock market bubble growth is due to the international economic climate as a result of the pandemic.
Rouhani continued the deception though, saying on the 12 August,
“Our stock market is good, they are angry. They say the stock market is all over the world is disrupted. Why is the stock market in Iran good? Put cotton in your ear.”
The regime has utilized other methods of plundering to prevent the collapse of the economy and its resulting protests. Rouhani’s government started immense banknote printing as high as 2,000 billion Tomans to supply the budget deficit. The state-run Eghtesad-e Saramd daily said on 13 March:
“Seemingly, the government has no choice but to print banknotes to compensate for its budget deficit. Five hundred and seventy billion tomans are injected into the Iranian economy by the Central Bank daily. The Central Bank says that from February of last year to the end of February of this year, 107,640 billion tomans have been added to the monetary base. These numbers mean that another record in banknote printing has been set in the last year.”
26 February saw Vaezi, chief of staff to Rouhani says, “We increased the dollar exchange rate to control Iran’s economy.” The inflation rate and prices of imports have gone up as a result. Retirees have protested this saying “our expenses are in dollars, but our wages are in rials.”
The regime has also increased taxes in various forms, forcing more Iranians into poverty. The middle class has essentially vanished, sinking down into the lower classes. From retirees and defrauded stock market investors to teachers, nurses, doctors, and farmers, Iranians from all walks of life and protesting the regime.
The corruption and malignant economic policies of the regime have turned society into a powder keg that will explode imminently.