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Consequence of Gold Coin Hoarding
Hemispherical
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“Two weeks ago, international news agencies reported that Iran had executed two men for hoarding gold coins.”
“...hoarding two tons of gold coins...”
CW article: Will not let me post the link, search Coinworld Sultan of Coin
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Still unable to add link to CW. Below is part of the article.
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Iran Executes “Sultan of Coins” for Hoarding Gold Coins
By CoinWeek News Staff ….
Two weeks ago, international news agencies reported that Iran had executed two men for hoarding gold coins. As part of a larger effort to control the Iranian economy after reimposed sanctions by the United States, the Supreme Court of Iran delivered a sentence of death by hanging to Wahid Mazloumin, 58, and his associate, Mohammad Ismail Ghasemi, on October 21.
Both men died around November 14.
The two were arrested in early July. Called the “Sultan of Coins” by Tehran police, Mazloumin was accused of hoarding two tons of gold coins–about 250,000 individual pieces–allegedly to manipulate prices on the local market. He was also accused of operating a currency trading network to carry out transactions not sanctioned by the state. Ghasemi, who some sources say was Mazloumin’s son, was arrested for his alleged role in Mazloumin’s network. Ghasemi was accused of being involved in the sale of gold coins and of belonging to a criminal gang.
Each man was charged with the religious crime of “Spreading Corruption on Earth”. In the Iranian legal system, this charge is punishable by death.
London-based human rights organization Amnesty International called the executions “horrific” and a violation of international law. Amnesty also faulted the Iranian government’s “fast-tracking” of the trials and subsequent lack of due process for the accused.
Actually, it was a case of the authorities stealing their gold. Such an accumulation was far to much to leave with the public sector. The dead cannot argue. Cheers, RickO
Each man was charged with the religious crime of “Spreading Corruption on Earth”. In the Iranian legal system, this charge is punishable by death.
Good God in Heaven! I am staying at least an ocean away from that country. Thank God for the United States of America.
Thanks for the article Hemispherical
Posted here also:
https://forums.collectors.com/discussion/1009001/iran-executes-the-sultan-of-coins-for-hoarding-gold-coins
Iran actually mints gold bullion coins with a picture of the Ayatollah Khomeini on them.
https://www.abc.net.au/news/2018-11-15/iran-currency-1/10500270
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"Spreading corruption on Earth" punishable by death.... you'd think they would have no government left.
Collector, occasional seller
Terrorists gonna terrorize...
Don't care.
A pox on all their houses.
My understanding was that the real reason they were executed was because none of the coins were approved by CAC.
Worry is the interest you pay on a debt you may not owe.
As the story was reported in international media, the man was a currency trader and money changer. (Both are activities prohibited by muslim and christian holy texts, but tolerated as necessary.) He had succeeded in cornering much of the market for small gold coins. These are widely used in Persian culture for ornament, bridal dowries, and other purposes. By controlling the small gold coin market, the trader attempted to make greater profits, and this irritated the religious police. The outcome was never in doubt, and the gold was confiscated, then sold to other traders.
Between religion, politics , and sex.... it's hard to have fun with gold coins, in today's environment. Damned if you do, damned if you don't . #Me3
How much worst can a corrupt country get ?
Well there is North Korea.
Some are more corrupt than others but there isn't a single "country" that's not. Religion, politics, ethnicity etc. doesn't matter, unfortunately it's human nature.
The whole worlds off its rocker, buy Gold™.
In North Korea being related to Kim Dong Dung can be punishable by death!
Weren't some of the coins in AccuGrade plastic?
Well, in that case...…...
Worry is the interest you pay on a debt you may not owe.
I'm curious. Did anyone check to see if these dealers were PNG members?
Worry is the interest you pay on a debt you may not owe.
Be interesting if they applied that law to congress
Many successful BST transactions with dozens of board members, references on request.
Whilst I was in the gracious employ of Uncle Sam as an Infantryman, one of the garden spots in the world I had the privilege of adding to my "Places in the World I Have Visited" was 47 ambush patrols in the Demilitarized Zone in Korea. The good part was only a few involved shooting. The bad part was a few involved shooting.
In Panmunjom, the place where North & South, UN, and US meet to discuss, we could get literally inches away from the North Korean guards. Looking into their eyes, I was struck by the fact there was nothing there, no emotion, no "sparkle", nothing at all, just dead eyes staring at us.
Later, VP Joe Biden, made the comment about PM Putin "Biden said, signaling that the two leaders were standing just inches apart. “I said, ‘Mr. Prime Minister, I’m looking into your eyes, and I don’t think you have a soul.’”
That hit it perfectly. The NK country is so beaten, there is nothing left in the people.
Sad. Sounds like the hoarding may have contributed to the violence and uprise against the government. Truth probable was the Supreme leaders directive and Panama papers or other is leading back to him. What else would you expect him to do. Now they can say problem over it was those guys.
Best place to buy !
Bronze Associate member
wait, will show ya
The Iranian Hunt brothers. Sorry. I couldn't resist.
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