The U.S. Printed Counterfeit Rials to Ruin Iran's Economy in the 90's

I have this regular customer that has been coming to my job for the past
3 months now and we have become friends. He was with the U.S. Navy
since 1981. Now he has a normal job in OK, anyways the other day I
was prying into his missions and he had told me how we ruined Iran's
economy in the 90's. He said the news outlets in the U.S. told us that
Iran had taken U.S. civilians hostages or something along those lines, and those
were the reasons for going into Iran in the mainstreams' eyes. It may had
been a plane crash, can't recall.

But he told me they had 3 helicopters land in the desert to drop off 3
CIA agents who were of Iranian decent with briefcases filled with as much
counterfeit Iranian Rials (Iran's Currency.) as could hold, he said billions.
But my point of surfacing this is because he had to much detail for this
to be a fake story. I'm wondering if anyone else has heard this or about the
hostage situation or anything. He had told me it crippled their economy in
the 90's, but I couldn't find any reports of anything on it.
I might have to go WikiLeaks diving, but I just wanted ATS to catch
wind of this information.

I haven't heard anything about this particular episode, but does it differ significantly to our government printing billions through QE1, QE2, and now, possibly, QE3?

We know that printing more and more money usually damages an economy, yet we're doing it to ourselves.

Originally posted by TheBeastly0ne
I have this regular customer that has been coming to my job for the past
3 months now and we have become friends. He was with the U.S. Navy
since 1981. Now he has a normal job in OK, anyways the other day I
was prying into his missions and he had told me how we ruined Iran's
economy in the 90's. He said the news outlets in the U.S. told us that
Iran had taken U.S. civilians hostages or something along those lines, and those
were the reasons for going into Iran in the mainstreams' eyes. It may had
been a plane crash, can't recall.

But he told me they had 3 helicopters land in the desert to drop off 3
CIA agents who were of Iranian decent with briefcases filled with as much
counterfeit Iranian Rials (Iran's Currency.) as could hold, he said billions.
But my point of surfacing this is because he had to much detail for this
to be a fake story. I'm wondering if anyone else has heard this or about the
hostage situation or anything. He had told me it crippled their economy in
the 90's, but I couldn't find any reports of anything on it.
I might have to go WikiLeaks diving, but I just wanted ATS to catch
wind of this information.

Buy him another beer and I bet he has another whopper for you.

reply to post by TheBeastly0ne


Want to know if it's true, use logic. Their economy was never crippled, and billions would do nothing anyway. Didn't happen.

Originally posted by charles1952
I haven't heard anything about this particular episode, but does it differ significantly to our government printing billions through QE1, QE2, and now, possibly, QE3?

Yes. In the case of large scale printing of physical currency, it is more likely to be widely dispersed throughout the population, causing a a widespread monetary stimulus and, at least in the short run, relieves burdens of average people, though it will later cause inflation if it exceeds growth rate tremendously.

In the case of the US Economy, they instead "printed' the money and put it in the vault of the banks. The beneficiaries are bank management (first) and bank shareholders. Average citizens are way down on the list.

Bernanke's 'helicopter drop" would have been more effective, and more just and useful, if it had actually been a literal helicopter drop of cash. I'm not joking about this.

We know that printing more and more money usually damages an economy, yet we're doing it to ourselves.

It's more complicated than that.

reply to post by PulsusHilarisCaro


He is a very nice man and I truly have nothing bad to say about him. You are disrespectful and need to keep and open mind. If all you do is reply to posts with utter negativity then go somewhere else. CNN.com would love your kind. I'm just trying to corroborate with others who have maybe heard of this story. Not stating it's factual even though it probably is because he has no reason to lie to me what so ever.

I love that 16 year old children make accounts and try to come off mature. Delightful.

Originally posted by TheBeastly0ne
reply to post by PulsusHilarisCaro

 

He is a very nice man and I truly have nothing bad to say about him. ... I'm just trying to corroborate with others who have maybe heard of this story. Not stating it's factual even though it probably is because he has no reason to lie to me what so ever.

No reason to lie to you? Why would he need a reason?

Maybe he's nothing but a very nice congenial sociopath who's got you completely fooled.

That's my bet.

if the US printed counterfeit rials, I think it more likely that they would be used to pay informants. Anything large scale enough to upset the economy would be detected and publicized (e.g. duplicated serial numbers).

From an informant's point of view, seems like a pretty raw deal. "At least the KGB pays with real money (that they stole)!"

looks like some of our agencies will do whatever it takes to tarnish the American name!

ANd Cointerfieted Rials is different from the bailouts how? In both cases they devalue the currency. They use the same old tricks.