in the other matches, nayet s3, two out of 100 , shahtab yazd, the third team, pikaan 3-0 defeated its host like rafsan jan, gonbad municipality 3, chador mullah ardakan was defeated by harsan ramsar at home, s3 0, you lost to orumi municipality , esfahan also 3 1. in the field of passes, gorgan had the upper hand. club football in europe. liverpool qualified for the finals of the english league cup. barcelona and

girona were eliminated from the copa del. in the quarter-finals of the hestab athletic cup, bilbao hosted barcelona at home. in regular time, the game ended with a 42-point advantage for bilbao in overtime other matches of the majorca stage passed girona , the face of the last team to whistle to the semi-finals tonight, at the end of athletic, madrid and sevilla , it is clear that real sociedad mallorca and athletic bilbao are on their way to the semi-finals. but in germany, in the second game from the 13th week of the bundesliga, berlin went to the allianz stadium, and with raffaello's single goal , they passed the 100th goal of their guests and closed their gap of four points with barkozen in the table. thank you for your support

. have a good day. today is thursday the 5th of bahman, the 13th of rajab and the 25th of january. noon call to prayer in tehran 12 o'clock and maghrib azan is at 17:43. dear viewers, we have reached the end of this news section . thank you for your cooperation. good day, god bless you.

the importance of elections in choosing a strong team is the key, it is in the hands of the people. iranian coach sharaf iran has a telegram playing with the whole country. why don't you make a price this month? your question is an interesting question. you are special to the higher program. in recent meetings, the leader of the revolution called the real competition one of the important pillars of the election, which means that it is a field for the presence of different tendencies.

political, cultural and economic should be provided so that everyone with their different views and tendencies can participate in the big election contest and form a real competition. one of the topics on which experts disagree is the supply market management issue, whether our stabilization policies should be mandated or not, whether our supply control should be mandated or not. we want to have a debate at your service. mr. al-husseini , a banking expert, and mr. hassan khani, another expert in the banking expert program, are present in our studio. i would like to start with mr. al-hussaini and the question of how much you agree with the mandated policies to control and stabilize the exchange rate

. we theoretically say in economics that the exchange rate is the equilibrium of three markets. different product market, money market and capital market. we have a product market, we want to say the supply rate , we say, for example, the rate of dollars to rials. the product market is characterized by the productivity difference between iran and america. the money market is characterized by the real interest rate difference iran and america and the capital market is characterized by the difference in expectations regarding the future of the economy of iran and america. now, if we consider the relationship between the dollar and the rial , then you cannot determine the price of land by order

. it is the result of the interactions inside the child's body. to show the child's fever, what he does is put an ice cube next to the thermometer. he puts a piece of ice, the fever comes down a lot, but the child's fever has not really come down, this is not a virtue, it will kill the child. because that child has an infection , you have to go and treat the infection. this is my rate. the rate is rising so much every year. it jumps so much . either we stabilize it, like in the 80s, then it jumps once, or we stabilize it like in 93-96. then it suddenly jumps, this shows that there is a serious infection in this economy. so, the main point of discussion is whether we want to treat the infection in the economy in a radical way so that it will decrease or not, do we want to come to this child's body by putting ice and putting a series of painkillers and giving a series of painkillers and so on. face

for the short term, let's show the fever in a different way because of a series of desires, a series of political demands, a series, for example, of the last government. either there are parliamentary elections or anything else, he comes and does this as long as he can and as long as he can, as long as he has horizontal resources, because our economy is not like the economy of turkey, the economy of turkey is very difficult for the government in very short periods. time can make this mistake. in iran's economy, the mistake of fixing the land price can continue for 10 years, like 80-90, for 4 years, like 93-96 . why? because we have so much housing and so much we have a piece of ice to put next to the tail and gauge , and what are they, and that is the oil income that dollars are coming out from under your ground, and

you spend those dollars in a way that i will now tell you, how else could we have spent it and what long-term damage to iran and the iranian people with this policy and this way of managing the economy. thank you very much, mr. hassan khani . in the name of allah, the merciful, the most merciful, at your service, mr. seyed , dear viewers. hello, i would like to ask if we should fix it or leave it or do something else . if we want to answer this question, at least 8 we have to discuss 9 issues together. one is that the laws of the upstream documents, the regulations, the conditions that the law allows us, i will just give an example so that i don't go into a detailed discussion and it will be long. out of the 43 general policies that have been announced so far, about there are 830 clauses in these 43 general policies from the 1970s to today, about 26 to about 3,000,320 economic clauses, out of

these 325, 26 are directly and indirectly related to the currency field or directly or indirectly related. and 32 rulings come out of it , it is constantly said in different policies that it gives stability for example, let's assume that the monetary policies and the coordination between the policies are among these things. the second issue that should be addressed is the structure of the iranian economy. in fact, if i want to give an example of one of its features, about 80 of its imports are basic and input goods and basic consumption goods. i export auxiliary goods in the same way, we mainly have intermediate goods of production, we export materials. very low, the third issue of the discussion of models for explaining the behavior of the interest rate, a mistake has occurred, a misunderstanding of economic theory has occurred, and now i do not want to enter into the discussion of mr. al-hassanini, that is, this

it is not based on his statement, i am speaking in general , and what they say, sir, inflation should be adjusted in proportion to the inflation between iran and the united states , nothing like this was said in any economic book. the problem that has been mentioned in economic books and those 9 behavioral theories explaining the behavior of the land price is how we can justify the behavior of the exchange rate retrospectively. the problem is that we cannot tell the price of land to go up because there is an inflationary difference between iran and the united states . there is no such thing at all in economic scientific texts, it is only said in the explanation of the behavior of land price. one of its factors can be the difference in inflation rates in different circumstances and in certain situations with certain pre-children. this is a discussion of three-fourths of the issue

. mexico , i don't know, chile, different countries that faced the currency crisis because of those 3 events, three characteristics of high inflation , negative trade balance and continuous budget acquisition. this is a very detailed story that we can address now if there is an opportunity. it is an issue of the currency crisis of european countries. england in 1990 faced with the pound crisis for a reason, now that reason is stated in the texts like this , the trickle of speculation, the attacks on the market caused by the doubt of the policymaker in maintaining or releasing the interest rate, now there is a detailed literature, and it was a crisis in southeast asia, which was caused by the fragility of the southern economies of southeast asian countries was caused by short-term foreign debts

. i don't have a chance, i will wait, it will be shown in the second part dear mr. al-husseini, how much did you agree with mr. hasan khani's discussions so far that had nothing to do with our discussion , he said a legal topic that i think we should skip now, why the law at all. we say that the price of land should be stable . you are an expert. you know that you should say that the price of land should be stable. the price of land is the price of people 's suffering . we don't talk, although the law also says that iran's land price is managed floating, now i will enter the topic of the law i don't want to become that's why, but we said

that the exchange rate is a product of three markets, the product market, the capital market , and the money market . if we understand this, mr. hassan khani, please answer this. well, of course, it should be stable , but you have to control those three markets . if you want it to be stable, if you want the child's fever not to rise, you have to control the infection in his body. do not go and tamper with the thermometer, but this is what they say , this is the theory. it happened. i want to review the space before and after the revolution. now , if i don't have time before the revolution, i will review after the revolution. if necessary, i will go back from 1300 to 1357 and from 1957 to today . let's review what theory is based on. now, whatever policy has been made, we will arrive at the basis of which the exchange rates in iran are formed

. did the theory work in iran's economy or did it not work ? determining the land price, we have both the pp model and the polio model . there are many references for this field this has been resolved in the rest of the world, it is strange that in our economy in iran. we are still debating about these things, really, but there is nothing wrong with it. from 1357 until now , we gave a preferential exchange rate or suppressed the currency every year without exception. why 80 because there were many supply sources available to the government. you may not believe

it. do you know how much was spent in the 80's to intervene in iran's economy to keep the exchange rate at 800 to 1,000 tomans? how many? how many? do you know china's new silk road plan? 80 countries are involved in it. china is sewing itself. america is afraid of this plan and says to the whole world, "wow , this is putting all the countries in debt. you know , this plan, which started in 2008, is called the android belt, you know what it means. the belt and road initiative , you know, the total expenditure that china has spent from 2008 to 2021 in the plan to bring the whole world is scaring the whole world , it is taking china out of its isolated state , it is making all the countries in debt to china, totaling 240 billion dollars, and the currency intervention that during this period, we

spent 249 billion dollars in iran's economy . you are china with that greatness, with that power he has spent his resources for the biggest plan, which mr. xi jingping knows is his own plan , china's future plan, he knows, 240 billion dollars until 2021 . the same ice cubes next to the thermometer to put the ice cubes next to the child's mouth to measure the body temperature. don't show it high, when really he has a fever because his profit is low, because his liquidity is high and because the expectations for the future of his economy are not positive. i will finish my sentence , i will come to your service. we put aside the 249 billion dollar income, we only spent it on intervention to show that

this child does not have a fever and this has caused a huge disaster , which i will talk about in the next part. we call it the dutch disease in the economy . it has created a widespread dutch disease in iran's economy, which was identified in the world 50 years ago, and countries are careful not to suffer from it. we caught ourselves with our own hands. mr. hassan khani, please how much do you agree with these statements ? let me have my own petitions and go a little further, then to the point of divorce, probably in the name of the country. iran is a special country. i will just give you an example . in the four years of mr. trump's term , there have been more than 90 sanctions against iran, and out of these 90, at least 62 have been in the field of money, foreign exchange, banking, insurance, commercial shipping, and so on. and therefore the country of iran should take special measures for it. the issue will be discussed later. now

, i will give you a side issue. this is the issue of bri, which they said, first of all, bri has realized about one trillion dollars of investment, not 80,800,800 trillion dollars. billion dollars to date, the last statistic i have is one trillion now, one trillion of the total amount of investment has been promised, now the total amount of investment given later, according to their documents, is 8 trillion dollars , something that was given one trillion dollars later until the end of 2023 . together, a series actually. let's fight and not have anything in niad mohsen. we want to talk to each other. i have a request from you and other friends. see , don't make comparisons. he was a child, he grew up, medicine and infection , and put these stories aside. we want heavy and heavy economic literature, and in fact that thing from so an expert comes from an expert

. let's talk like this. we don't want to put our feet in the shoes of doctors, and we don't want to give examples that we use in those examples. let's do the issue of the country's transverse system, the issue of the country's transverse policy, with fever , children, infection, and these stories are very different, and i beg you , there is no need to get involved, you tell the difference, there is no need at all for us to get into the issues, for example, to give an example, that example wants to approximate keep in mind that the issue is very clear if we are talking about width and horizontal politics and according to your interpretation, land repression and i don't know. you said something else that is on your mind right now. let's talk about what width we want to talk about. first, let me answer them. mr. nasr, we have two types of stabilization . we have two types of stabilization policies. in the world, there is a type of stabilization policy based on the power of the central bank. sir, saudi arabia can stabilize. the country of the uae can

offer, it is supported by gold, it is stabilizing, what do you want to do ? it has been stabilized for years. an emergency means that a country receives a shock. this is something that is present in mr. al-hosseini's statements. he says, mr. al-hosseini, the price of land is the result of the balance of three markets . mr. al-hosseini, we have a detailed literature in the detailed literature in space we have an economy in the condition of imbalance. in any case, the economies do not swear by hazrat abbas that they will always be in balance.

if you want to talk in the long term and in the perspective of balance and so on, that is another matter. our problem is that when you see the problem, it should be presented like this . the politician did not know that a mr. trump would finally come and withdraw from the jcpoa, because when mr. trump himself wanted to participate in my election, he said that the first thing i would do would be to withdraw from the jcpoa, it doesn't matter. you have an environment, you have a macroeconomic environment, in which sanctions are actually an important variable . maybe now, according to your interpretation, it is not a period. finally , a person named mr. rouhani came and said, "i want to improve my relations with a number of western countries. i don't know the conditions of the country. i don't know about foreign investment." it is coming to the end, so a boycott will happen. in shock a supply-side shock occurs. in a supply-side shock , what should a policymaker say? i should increase productivity, raise the interest rate

, strengthen people's expectations, make them positive. we don't want to say statements like what i said, mr. roger farmer it divides the economists into groups. it is useful here. you should read mr. bernanke's memoirs, just because you are the preliminaries . al-hassanini, you said that they have 160 countries they have a peg rate, what does a peg mean? they lock their interest rates to the us dollar . in economics, we have something called the impossible segane . we say that, sir, whenever the capital account of a country is open you cannot you can't stabilize the interest rate and the interest rate. you can't have an independent interest rate policy. you can have one of these

two. you can have one of these two. those countries that were pegged to the dollar, like the uae, like saudi arabia, these are independent monetary policies. they don't have it, mr. hassan khani , their monetary policy is the monetary policy of the federal reserve, that is, the emirati as you mentioned, the uae, when the interest rate of the federal reserve comes to its meeting , raises the interest rate to five hundred percent, as they say, on the same day and at the same time, the central bank of the emirates applies the same policy regarding its own interest rate. the other side of the liquidity growth rate is that they say that the inflation growth rate has nothing to do with the stabilization of the money supply. my point is, is it possible that inflation has nothing to do with the interest rate ? they don't have an independent monetary policy, and giving their monetary policy to america, america is making monetary policy for them.

you can't do this. first of all, you are the enemy of america. you see, those who say these things, by the way, they want to completely dollarize iran's economy . if you don't have money, the monetary policy should be in the hands of the united states , why destroy all your industries in order to have a stable land rate ? on the other hand, the uae and saudi arabia have foreign exchange reserves due to the fact that their oil production is 5, 6 , and 8 times that of iran in proportion to their population. it is natural that they can do this. i don't care what their other industry is if something happens to tourism and the financial industry , these will compensate for the problem that stabilization policy cannot be implemented at all, due to the fact that the product width is three markets, and if you

want to leave it with your reserves , the same events will happen. in iran's economy , i ask another question from the other side. i say, well , the stabilization policy that iranian governments always want to do, why couldn't they, if it were possible, sir , you make a mistake in one year, you make a mistake in two years. you can't make a mistake for 50 years. if you make this mistake in one year, you realize that you can't continue in the second year the price is too high , you continued for the third year, traitor, if we continue for the third year , you are betraying this country , you are increasing the suffering of these people, so first of all, they do not have an independent monetary policy , secondly, they are completely dependent on america, thirdly, for countries that have horizontal reserves. great, this is not possible for iran. so, a country with high inflation, a country with low productivity, a country whose expectations for the future of its economy are different from the american economy, this country cannot

stabilize the price of land at all, but what does it mean that the country can with proper control of monetary and financial policy? that is, by reducing the deficit and by controlling the monetary policy , i.e. with the variable interest rate, this country can make the value rate stable in the medium term , which we did not do in iran's economy after 1957 , we just went to fight and stabilize it with economics. no matter how many times our resources are exhausted, the price of land has fallen, an example is the 80s, an example is 1993 to 1996 , which all people with their flesh, skin, blood and bones experienced in the year 1996, sir, your family is the year of 1996, i'm sorry, it's the year 1996. i wrote an article in august or july 2016. at that time, the exchange rate was 2900 tomans. i wrote it at the same time, sir, the real rate of land.

according to extreme models in the economy, and this rate jumps, what happened until the end of 1996 with 18 billion dollars, horizontal interference with 18 billion dollars, pouring money into the economy , destroying people's assets, destroying resources a currency in the middle of an economic war with 18 billion dollars, the spread of the currency at three tomans, keeping it stable in april 1000. if you agree , let's see a report together. my colleague in the bank group is preparing an overview of the opinions of the supporters and opponents of the issue we are talking about. sanctions have a shortage of foreign exchange resources, the implementation of land price stabilization policy is necessary and necessary because

this country. it is necessary to import raw materials, basic goods and medicine. mohammad ghafouri, an expert in economics, the adjustment of the exchange rate due to the budget deficit is detrimental to production. suppressing the exchange rate makes us have periods of stabilization and growth. the dollar rate should be formed in the broad market with supply and demand. mahdi nosrati, university lecturer and economic researcher, at the current stage, the policy of land price stabilization is the right policy. and it should continue. the current government has achieved two major goals in the field of economy. first, reducing inflation, curbing inflationary expectations, and secondly , providing financing and foreign investment. failure to stabilize the currency can ruin these gains. samii, the former head of the bankers' union, the mandated stabilization of land prices for the long term or even the medium term is neither possible nor even useful, and never in the conditions of the inflation rate in the country. our country

is more than 10 times higher than the countries in the dollar area . we should not prevent the increase in the price of currency and we should only be careful that this price increase is not accompanied by turbulence and fluctuations. artificial and mandated prices will not be stable. well, we have seen the report together, mr. hassankhani, do you think this policy of stabilization that mr. al-husseini mentioned in terms of their own efforts , enumerate its disadvantages, do you think this stabilization policy is completely wrong , or should it continue? i haven't finished the introduction yet. you can continue with the rest of your introduction . the program will end. well, i'll be very brief . look, i've had some attacks . well, naturally, this is a very complicated issue. it's not as simple as saying that we should stabilize the monetary policy. it should be a section as wide as this

the problem is the right problem. it doesn't mean that this sentence is not the right sentence, the same monetary policy is not correct. the reason is that the monetary policy is the demand side policy. when you have a shock on the supply side to the supply side , you cannot fully cover it with the demand side policy. this is a flaw in the model that mr. olivier blanchard has an article in 2017 dividing economic models into 5 categories. i have a question for you, with which economic model are those five categories? we have a series of models called in the model , they are toy models like the ism model. these models are useful for currency modeling and i do not know policy it is not common in our country that other models are foundation models, there are basic models, a series of models are blind models, and a series of models are models.