Situation in Iran

[Update: 8:50PM EST]

U.S rejects victory claim by Iran's Ahmedinejad

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It seems the Iranian people are not buying the election results because of all the irregularities. The government has shut down facebook, text network, and the websites of the opposition. Riots in the street have gone all throughout the night. Rumors are flying that Moussavi might be under house arrest as well as other opposition members.

Looks like Moussavi's press conference where he announced he was the winner might be paying off. He is being very defiant and this gives his supporters something to rally around.

Here are two sources that are keeping up to date with the situation.

Huffington Post

Andrew Sullivan

Considering that the Iranian Election Contracts do not expire until Ahmedinejad is sworn in again, and that is two months from now, I have closed out of my position. I don't want to wait and considering that news out of Iran is not reliable, it is hard to tell what could actually happen.

Will the government crack down on the protests Chinese style or are the Iranians on the verge of a whole new revolution? Who knows? I think the Iranian government is going to stick to the results and crack down HARD, but I'd rather just cash out now and not wait.