solitaryforager:

“I have determined that additional sanctions are warranted, particularly in light of the deceptive practices of the Central Bank of Iran and other Iranian banks to conceal transactions of sanctioned parties, the deficiencies in Iran’s anti-money laundering regime and the weaknesses in its implementation, and the continuing and unacceptable risk posed to the international financial system by Iran’s activities.”

-Obama

Obama confronts one of the real reasons war with Iran will almost undoubtedly happen. It’s central bank isn’t appreciated by western powers. Why?

Let’s take a look at the history of the CBI.

During the preparation of a new constitution, the “Islamic Marxists” among the triumphant revolutionaries and their supporting radical clerics, succeeded in turning the economic chapter of the final draft into a leftist, anti-capitalist, and anti-market manifesto. Thus, Article 44 of the l979 basic law explicitly placed the banking sector, inter alias, under a state monopoly. Not long after, with the speedy loss of power by the radical left in the revolutionary government, and the effective ascendancy of a tight-knit clerical oligarchy at the helm, a new move for the full Islamization of banking began to gain momentum. After a lengthy and tortuous legislative process, a Usury-Free Banking Act was finally ratified in August 1983 and went into effect on 20 March 1984.

The main objectives of the new law were: (a) proper issue of money and credit for the creation of a just, healthy and progressive economy;

(b) use of monetary tools to promote the national objectives of the Islamic Republic (including the elimination of poverty and attainment of national self-sufficiency); and

(c) preservation of the national currency’s value and promotion of balance of payments equilibrium.

Both Libya and Iran have leftist banking systems that do not agree with Western Neoliberal practices. Interesting.

(Source: socialuprooting)