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POPSMullahs Keep Fighting Us While Destroying Iran
against an official estimate of $45 billion. This sort of discrepancy typically occurs when capital flight is disguised as imports through fraudulent invoices and similar devices. A small current-account deficit would be of little concern for a nation with normal access to world capital markets, but Iran is unable to borrow. There is indeed massive capital flight. As I wrote a couple of years ago, Gulf bankers told me that they can’t handle all the money pouring out of Iran. Wealthy Persians long since saw the doom of the Islamic Republic, and have been looting the country’s resources for their own gain. They are printing money, further pauperizing Iranian workers–who are famously paid very late, if at all, as demonstrated by the ongoing demonstrations and strikes at government-owned companies– The message Spengler delivers is that there is no way out of this war. Left to their own devices, the mullahs will destroy Iran, and, if they can, us as well.
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