Josh Sigurdson talks with author and economic analyst John Sneisen about the breaking news out of Iran as protesters burn down Iran's central bank branch in Behbahan following large protests over the hike of the price of fuel in the country.
With protests kicking off around the world to a massive scale, it's interesting to see this development in Iran, especially considering that central banking tends to be one of the number one issues affecting all of these places whether the protesters know it or not. In Iran they certainly seem to recognize the problems of central banking, though we of course do not condone burning down buildings.
Iran has been facing an enormous amount of inflation by their government run central bank whose main building is based in Tehran. With the central bank recently going after auto manufacturers and demanding audits by banks in the country, people are getting restless. To add to the problem of vast inflation, the fuel prices skyrocketed recently. Iranians are generally strong people who do not comply when being forcefully shoved into poverty, so there's not doubt we'd see protests and the protests appear to be growing by the day. Rouhani claims the price hike on fuel purchases is for the "greater good." Most are not buying that.