The people of Iran inhabit a world in which religious leaders have perspectives that are not shared by most nations. Their refusal to open nuclear plants to UN inspection has resulted in severe sanctions which are crippling the Iranian economy. On Sunday, 29,600 rials brought an American dollar. Today, it requires 34.5000 rials to get a $1 bill. President Ahmadinejad had promise that the rial would never sink to the 30,000 level. As a student at Tehran University put it: “What an embarassment for Ahmadinejad. The economy is i crisis and he is either blind to it or simply doesn’t want to see it.”
This crisis is a result of Obama policies to impose economic sanctions on Iran rather than pursue Israel Prime Minister Benjamin Netanyahu’s dream of air attacks on Iranian nuclear installations. Many Iranians have lost faith in the rial and now rush to put their assets into foreign currency. The Obama strategy calls for long term efforts rather than rushing to war.