MEK Iran: Collapse in Tehran’s Stock Market Triggers New Crisis for the Regime
The National Council of Resistance of Iran (NCRI) and The People’s Mojahedin Organization of Iran (PMOI / MEK Iran) reported that the Tehran Stock Exchange (TSE) has undergone a series of spectacular falls in recent days, completely eclipsing any gains made last summer.
The collapse of the stock market
A protest rally by Iranians who feel deceived after the regime falsely hyped up the gains has already taken place outside the stock exchange building in Tehran.
Slogans were chanted by angry protesters, saying: “Forget about the nuclear deal Hassan [Rouhani], don’t steal from us!” and Rouhani is stealing (from us) and the police supports him.”
The collapse in the local stock market has caused a new round of recriminations within the ruling theocratic regime. The head of the TSE and the Securities and Exchange Organization (SEO), Hassan Ghalibaf, had resigned last October after claiming too much meddling by the regime.
Blow to the people’s trust and depreciated their assets.
A rival MP in the Majlis (Parliament) to the ruling regime, Ahmad Nader, said “the government encouraged the people to invest in the stock market and dragged the people’s wealth into the slaughterhouse casino of the government. The government must be held accountable.”
Bagher Ghalibaf, the speaker in the Majlis, said: “We will not accept the current situation of the stock market and the government must be held accountable. The government officially invited the people to invest all they have in the bourse. And then, with their mismanagement, they dealt a blow to the people’s trust and depreciated their assets.”
The deputy speaker, Ali Nikzad, said that both the head of the SEO and the minister of the economy would be brought in to face a hearing to explain what has been happening in the stock market.
Overconfidence in the stock market has led to a burst in the bubble
The (PMOI / MEK Iran) analyst said both Hassan Rouhani and the Supreme Leader, Ali Khamenei, were actively hyping up the value of the stock market, even when analysts were predicting a bursting of the bubble. “Don’t listen to what they’re saying. They are mad that our stock market is flourishing and they’re saying stock markets across the world have been disrupted. Iran’s stock market is flourishing because of the activities of economic players,” claimed Rouhani, while Khamenei did his best to encourage ordinary Iranians to invest in the local market.
The (PMOI / MEK Iran) analyst also said The regime, meanwhile, is up to its neck in complicity when it comes to seeking blame for the crash in confidence. The massive budget deficit could have been dealt with by spending less on unnecessary expenses like funding terrorist groups and missile development.
Instead, the regime has acted to deliver institutions like the IRGC to benefit from manipulating the stock market. Ordinary Iranians have suffered while regime linked groups have benefited from these manipulative tactics.
The people’s patience has evaporated, hence the protests taking place. The regime faces an explosive backlash.