BESSENT ADMITS U.S. USED THE DOLLAR AS A WEAPON AGAINST IRAN, CAUSING HYPERINFLATION
“We created a dollar shortage in the country. It came to a swift conclusion.”
Scott Bessent says the pressure peaked after a major Iranian bank collapsed following a bank run, forcing the central bank to print money.
Result: the Iranian rial plunged to ~1.5M per dollar, inflation surged, protests spread nationwide, and Bitcoin prices in Iran spiked to ~100B IRR in recent weeks.
“We created a dollar shortage in the country. It came to a swift conclusion.”
Scott Bessent says the pressure peaked after a major Iranian bank collapsed following a bank run, forcing the central bank to print money.
Result: the Iranian rial plunged to ~1.5M per dollar, inflation surged, protests spread nationwide, and Bitcoin prices in Iran spiked to ~100B IRR in recent weeks.