Saturday, October 08, 2005

It's Not Nice To Fool With Mother Greenspan

We don't always need our military to put the hurt on evil doers. Investors can put the hurt on.

"Investors are bailing out of Iran's stock market, preferring gold and foreign bourses while international pressure ratchets up against Tehran's disputed atomic programme, traders said on Sunday.

The total bourse capitalisation had dropped to $38.2 billion dollars on Sunday, down from $45 billion in late June when conservative Mahmoud Ahmadinejad won a landslide presidential election victory.

The TEPIX all-share index stood at 10,151 points on Sunday, down 27 percent in the 14 months from August 2004, when it stood at 13,880.

"Everything depends on the nuclear negotiations, and the market really craves good news," said Akbar Zarganinejad, the head of a leading brokerage.

Iran stands on the brink of referral to the U.N. Security Council for possible sanctions after failing to convince the world its atomic ambitions are peaceful. Iran insists it needs atomic technology to fuel power stations."

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