Iran to jail, lash ex-central bank staff for bribes
Arizona Coin Collector
Every country with a suppressive dictatorship
needs to create a distraction from not being able
(or not knowing how), to deal with the internal
problems of there economy.
Fear keeps the locals in check as well.
Wonder who planted the gold coins to frame
these people?
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FROM:
http://sg.news.yahoo.com/rtrs/20081207/tbs-iran-bank-corruption-955c2a1.html
Iran to jail, lash ex-central bank staff for bribes
Reuters - Monday, December 8TEHRAN, Dec 7 - An Iranian
court has sentenced to jail and lashes 16 former
central bank staff for taking bribes including 35
billion rials in cash as well as gold and foreign
currencies, state radio reported on Sunday.
It was the latest sign of the Islamic Republic, whose
leaders have vowed to root out graft, getting
increasingly tough on corruption in the world's
fourth-largest oil producer.
The radio report said those accused received sentences
of 10 years imprisonment, lashes and fines in the
Tehran court's "initial verdict" without making clear
whether all 16 were handed the same punishment.
The report did not say when any lashings would take
place.
They were also banned from holding government office
again, it said, without detailing the crimes and
saying what positions they had held in the central
bank.
They were accused of receiving 35 billion rials in
cash and large quantities of gold coins and foreign
currencies in exchange for providing finance in the
form of letters of credit, a key tool for trade,
the radio said.
President Mahmoud Ahmadinejad came to power in 2005
vowing to clamp down on corruption. Iran's Supreme
Leader Ayatollah Ali Khamenei has previously also
ordered a crackdown on graft.
Last January, Iran's judiciary said a customs
contractor was executed for corruption and three
customs employees were sentenced to death, a rare
use of capital punishment for economic crimes in
the country.
Earlier the same month, an Iranian court sentenced
three state gas company managers to 10 years in
jail and 74 lashes each for taking bribes totalling
23 billion rials. (Reporting by Hashem
Kalantari; Writing by Fredrik Dahl; Editing by
Charles Dick)
..
Mike Marotta
wrote:
> Fear keeps the locals in check as well.
> court has sentenced to jail and lashes 16 former
> central bank staff for taking bribes including 35
Well, OK, bribery is not really a crime, is it? I mean, who's hurt?
So, there is that.
However, someone says, "banker" and we are supposed to think of Midas
Mulligan, not Eugene Lawson.
But when you think back on Bear Stearns and back to the Keating Five
and back to Billie Sol Estes, you
gotta wonder just what the consequences of fiscal immorality should
be.
"In Barcelona, from 1300, book entries by credit transfer legally
ranked equally with original
deposits among the liabilities of bankers. Those who failed were
forbidden ever to keep a bank
again, and were to be detained on bread and water until all their
account holders were satisfied in
full. In 1321 the legislation there was greatly increased in severity.
Bankers who failed and did
not settle up in full within a year were to be beheaded and their
property sold for the
satisfaction of their account holders. This was actually enforced.
Francescho Castello was beheaded
in front of his bank in 1360.(Usher, Deposit Banking, pp. 239-242.)"
Source: Page xxix, Handbook of Medieval Exchange by Peter Spufford
with the assistance of Wendy
Wilkinson and Sarah Tolley. Published London office of the Royal
Historical Society, Distributed by
Boydell and Brewer, 1986.
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A million IRRs is about 100 USDs, so 35 billion Iranian rials is about
$3,500,000. Of course a million bucks doesn't buy what it used to.
Compared to the dollar of 1913, when the Federal Reserve was created,
our dollar today is worth about $0.04 (four cents), or 1/25. If you
multiply our median $40,000 annuals by 25 you get (no surprise)
$1,000,000. So, if we were still using gold coins instead of FRNs,
the increase in technologies, goods, services, sciences, arts, etc.,
against a stable money supply means that we would all be, like, you
know, millionaires, relatively speaking.
So, maybe it is time we lashed our central bankers and threw them in
dungeons for a few decades. They could invest their time copying
HUMAN ACTION by hand.
Mike M.
Michael E. Marotta