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Iran is stockpiling gold. That's the way David Cohen sees it. He's undersecretary of the Treasury, and the Treasury's point man for the banking sanctions the U.S. has imposed on Iran.
"Iran is attempting to hoard gold, both by acquiring it and by preventing the export of gold from Iran, in a somewhat desperate attempt to try and defend the value of its currency," Cohen says.
Enlarge Vahid Salemi/AP
Iranians make their way through Tehran's main bazaar. Iran's economy is under increasing strain, and its currency has fallen sharply.