Iran’s President Ebrahim Raisi’s recent statement during his visit to the southwestern province of Khuzestan blaming Iran’s financial crisis on the use of the dollar has sent shock waves across the country’s already worn-out economy.

Raisi’s claim that the country should cut all ties with the dollar and his order to create an “institution to implement this issue” has caused a new round of fluctuations in Iran’s volatile currency market.

According to state-run news sources, Raisi’s remarks have sent a wave of economic insecurity across society, as people fear that the regime will play with the currency rate, inflicting more pain and misery on the people. The regime has already created tons of fiat money and unnecessary liquidity to compensate for its budget deficit, and the low production rate in the country has only increased inflation. Moreover, the Raisi government plays with the currency rate by using multiple dollar exchange rates.

While the government has established the “Center of Gold and Currency Exchange” to identify and reveal the true value of currencies, this initiative will not have a positive impact on the country’s dire economic situation. The government has also continued to allocate the “Nimaee” currency or distribute dollars to select importers at an unfairly low rate of 280,000 rials, benefiting only a small group of individuals and further exacerbating the country’s economic crisis.

Raisi’s disastrous economic policies have led to an economic collapse, an incurable currency crisis, and political failure. The poverty line in the country is nearly 300 million rials, while Iranian workers and employees earn less than 100 million rials. The resulting high inflation caused by the government’s budget deficit has led to soaring housing prices and increased rents, leaving renters to face difficulties obtaining a loan to pay their rent.

Iran’s economy under the regime has degenerated beyond redemption, and any hopes of reviving it by pouring money down the drain is a pipe dream, as every penny ends up in the ayatollahs’ coffers. The burden of the financial collapse is squarely on the shoulders of low-income groups, who make up the majority of Iran’s 87-million populace.

In conclusion, Raisi’s monetary juggling only serves to reveal the economic collapse, incurable currency crisis, and political failure of Supreme Leader Ali Khamenei’s consolidation project to preserve the regime against the uprising. The Iranian people continue to suffer under the regime’s disastrous economic policies, and it remains to be seen how long they can continue to bear the burden of financial instability.

MEK Iran (follow us on Twitter and Facebook), Maryam Rajavi’s on her site, Twitter & Facebook, NCRI  (Twitter & Facebook), and People’s Mojahedin Organization of Iran – MEK IRAN – YouTu