Saturday, June 09, 2007

Iranian cash crunch?

Can you spell S-A-N-C-T-I-O-N-S?

From Mehr News: Iran to offer $1.6 billion to stock purchasers - incentives for big cash payments. (and does it look to you like Mahmoody Doody shares in the proceeds? It does to me!)

Iran’s Executive Headquarters of Article 44 of the Constitution here Thursday
urged banks to offer 15 trillion rial ($1.6b) facilities to purchasers of state-run companies’ stocks. The incentive is earmarked for the purchasers of large blocks of state stocks who pay at least 30% of the price in cash. The Headquarters is headed by Presiden Mahmud Ahmadinejad who also ratified the setup of state-funded Cooperative Development Bank by late July and partly shares in the sale.

And in another cash generating move - Iran to list 15 oil companies for privatization. Makes me wonder who's Members Only jacket pocket this cash will end up in?

There's more: Iran to set up power bourse. Maybe they will have better luck with this than they did with the long threatened petroleum bourse that was going to bring the great Satan to its knees. You can read the history of the oil bourse here, here, here, and here. As of 4/9/07 there was STILL no Iranian Oil Bourse in sight.

Or the metals bourse where mafia figures are reported to be at the helm, there are rumors of hoarding and steel prices have increased 15% since January...

Never fear! The Iranians have launched another bourse to save the Iranians from their current economic woes... are you ready for the PERSIAN CARPET BOURSE?