India to pay for Iranian crude oil in rupee

India to pay for Iranian crude oil in rupee

www.thehindu.com

After having explored various options to make payments and having run out of them, India is understood to have decided to pay Iran for the crude oil supplied by it in rupee terms.

After discussions between the Finance Ministry and the Petroleum and Natural Gas Ministry, it has been decided that the Ministry will seek the note of the Union Cabinet to switch over to the rupee payment system for the Iranian crude, officials in the Petroleum Ministry said

(visit the link for the full news article)

If this has been posted Mods please remove.This may be the warning shot for removal of the Dollar from Purchasing oil.

Iran is a opec member and if this allowed how soon will other countries begin to follow suite.Once they have all agreed to do bi-lateral trade in each countries money.Then the SHTF scenario will become a reality.

From my understanding its still a work in progress but it seems alot of other countries are making it known the are trying to get away from the current fiat currency.Then being that India is a major player in BRIC then when will China and others do the same .

I think we should keep an eye on this situation.And is this a credible newspaper or a rag?????



www.thehindu.com
(visit the link for the full news article)

Looks like its time to invade india. Waiting for the Hindu terrorist propaganda to start. lol. Not sure what the Hindu equivalent to Sharia Law is but I'm sure we'll find out soon.

Originally posted by mayabong
Looks like its time to invade india. Waiting for the Hindu terrorist propaganda to start. lol. Not sure what the Hindu equivalent to Sharia Law is but I'm sure we'll find out soon.

edit on 3-5-2011 by mayabong because: (no reason given)

Hindu Sharia Law=Mcdonalds and other burger chains must no use an alternative meat instead of beef(just kidding please take no offense)but really do you think an asinine idea like invading India thats more ridiculous than the beef thing.

I just think that the sheep will not ever accept the decline of the dollar until gas is 45.00 bucks a gallon

reply to post by mayabong


This development is quite noteworthy.
USA has of late (suspiciously) been very friendly with India, trying to ally with the country.
Vested interests, probably to get a proper strong hold against China & also exterminate Pakistan.
This will allow them a free run around the Asian sub-continent.

But IMO, the Indian government has snubbed USA twice now in the past few days.
The Fighter Jets Purchase deal was quite quickly and easily decided not to move with USA which led to Roemer retiring.

And now this.

Well, i guess its time all developing and developed countries shut the face of terror and control that is coming out of USA.

good find. S & F

from my knowledge india, china etc. already want to get away form the dollar, though again from my knowledge it is likely going to be a slow process to avoid completely crashing the US economy due to the fact that one: economies as a whole do not respond well to sudden change, and two: for as bad as the US economy is right now it still represents a major part of the economies of most the other major world economies, crashing it would substantially hurt the export based economies of china, india etc. therefore why would they kill the albeit dying goose if it still is laying golden eggs, especially if you dont have a replacement at the immediate ready

reply to post by mayabong


Lol. There isn't a prevalent Sharia law or similar for the hindus.
But definitely, it is an opportunity for pro-hindu extremists to step up.

They are an equally violent and dangerous front at the least.

It's not India that will be attacked for this.
It's Iran.
Big surprise there. I'm sure that before this exchange starts happening we'll see a dramatic ramping up of anti-Iranian propoganda - like it could be any worse anyway.
Saddam tried the same thing iirc.

Originally posted by trouble_every_day
It's not India that will be attacked for this.
It's Iran.
Big surprise there. I'm sure that before this exchange starts happening we'll see a dramatic ramping up of anti-Iranian propoganda - like it could be any worse anyway.
Saddam tried the same thing iirc.

true true.

So if the United States is or was trying to get in bed with India for a free run of the Asian sub continent,Then what happened with the aircraft deal.Or maybe it just seems the United States is becoming the kid on the playground with lice in his hair who nobody wants to play with.

reply to post by alchemist2012


The ugly truth is that more countries will not be able to afford to do business in US dollars as this Summer continues along. It only takes one country to get the ball rolling. Honestly, India is a perfect non-confrontational start.

Given that, I'm sure there was some heavy lobbying by other players.

Originally posted by alchemist2012

India to pay for Iranian crude oil in rupee

www.thehindu.com

After having explored various options to make payments and having run out of them, India is understood to have decided to pay Iran for the crude oil supplied by it in rupee terms.

After discussions between the Finance Ministry and the Petroleum and Natural Gas Ministry, it has been decided that the Ministry will seek the note of the Union Cabinet to switch over to the rupee payment system for the Iranian crude, officials in the Petroleum Ministry said

(visit the link for the full news article)

This is important news, but I don't think this thread will get the attention it deserves. How many Americans care about India & the Rupee? I'm not sure that the average American understands that the US Dollar has been the standard currency for petroleum purchases. And this is an important sign of how the US Dollar is dying.

A few years ago, there was a msg that OPEC was sure to drop the US Dollar for petro trades within ten years -- now more like seven years. This means the US Dollar will be dropped as Reserve Currency and the US Dollar will be considered finished.

Another thing that most Americans are unaware of is that the 2008 economic collapse was orchestrated, along with the intentional collapse of the US Dollar. Why? (Be patient while I explain.) Because:

The Global Elite (those who own the most powerful banks & corporations in the world) want the US to unite with Canada -- under the pretense of increased security & prosperity. This is NOT a conspiracy theory, and has been confirmed by a message from the Ottawa Embassy (Wikileaks). Read the info on following link:

2011-04-28 Wikileak: 2005 Canadian Gov Cable Addressing NAU (NAI)

www.abovetopsecret.com...


Once the US & Canada agree to unite, they will discover that they no longer have sovereignty -- that means neither the US or Canada can act unilaterally -- they must have permission from the North American Union Council.

They will along with the "Integration" -- introduce the Amero as a replacement for both the USD & Canadian Dollar. They had to collapse the USD before they could get Americans to agree a new currency.

The NAU will then announce that they must include Mexico (which is what they always planned to do) despite all their denials

The US will then have an "Open Border" with Mexico with millions of desperately poor Mexicans flooding into the US & Canada. Quality of life for both Americans & Canadians will plummet -- they will now work for next to nothing just to survive.

But the Elites will have gotten all that they wanted:

1.) free access to exploit Canada's natural resources.

2.) ALL the cheap labor they want.

3.) a new currency -- the mega debt to China is in the old worthless US Dollars, not the Amero.

As an added bonus to the Global Elite, they have created a new Super Power Enemy (China to replace the Soviet Union) to fight endlessly. The brown people who own oil was a nice interim & continuing enemy, until they could get the real enemy (Red China) up to speed .

"Oceania has always been at war with Eurasia." from "1984" by George Orwell

Could this be why they made the OBL is dead story to take away from what is really taking place.This thread will most likely get lost under all the OBL is dead threads and article.

This is huge news and is going under the rugs beacause of this Obama BC and Osama killing buslhit

reply to post by xavi1000


Are you kidding? Look at the S&F's already. This will be at the top within a few days as more countries follow suit.

reply to post by xavi1000


I totally agree with you.So i guess that Sunday night wag the dog event did exactly what it was intended to do and drown out any real news.I guess as an earlier poster stated no one really cares about India but they are a major player in the world

reply to post by xavi1000


I totally agree with you.So i guess that Sunday night wag the dog event did exactly what it was intended to do and drown out any real news.I guess as an earlier poster stated no one really cares about India but they are a major player in the world

reply to post by xavi1000

Double Post

reply to post by alchemist2012


It's triple

Did I read somewhere else that Gaddaffi was trying to promote a different oil currency other than the dollar and some think this is what is behind his current difficulties ?