On September 7, the citizens of Basra, Iraq, poured into the streets chanting “Iran, out!” while targeting the Iranian consulate with several rockets. These protests have, in fact, been stirring for several months, with this most recent eruption of violence in Basra serving as a microcosm of the issues Iraq, if not the rest of the Middle East, faces as the result of Iranian militarism.
When talking politics with Sanders or Ocasio-Cortez supporters, advocates of the free-market, myself included, tend to ask these adherents of democratic socialism the following: “If socialism is so fantastic, can you explain the failures of Venezuela, Zimbabwe, and the USSR?”
The Iranian rial has seen its value plummet against the dollar this past week amid rumors that the U.S. will impose a new round of economic sanctions in the coming days. Iranians have scrambled to exchange in their rials for dollars in recent months, not knowing what the future may hold for their economy. These transactions, along with the speculation of sanctions, have caused the currency to see a sharp decline in value year to date.