20 Years, 6 Markets: Tehran's Main Index Rose About 382 Times While Money Supply Rose 119; Deposits and the Dollar Fell Behind (Wednesday, 29 July 2026)

Twenty years in a bank grew your money thirty eight times. The money supply grew one hundred nineteen times. Imagine that in two thousand and one, six people each had one hundred thousand tomans. The one who bought shares saw it grow three hundred and eighty two times, to thirty eight million tomans. But a return without a yardstick is meaningless, and the real yardstick is money supply growth. This twenty year table was compiled by the Securities and Exchange News Agency. And here is where it all becomes clear: money supply grew one hundred and nineteen times. Of the six markets, only two beat that line: the stock market and gold coins. The rest, housing, deposits, the dollar and cars, all fell behind the money supply. Here is the surprise: the dollar grew only thirty five times, less than a third of money supply. Because the dollar pays no dividend, collects no rent, and produces nothing at all. But four important caveats make this table considerably more honest. Here is today's picture, on the twenty ninth of July, twenty twenty six. So the conservative saver, taking no risk at all, lost about two thirds of their purchasing power. The lesson is not to buy shares. In this economy, indecision is also a decision. So the answer: twenty years in a bank lost two thirds. Full analysis on Sahmino.com. Stocks or gold?