India to pay gold instead of dollars for Iranian oil. Oil and gold markets stunned , page 1

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Topic started on 23-1-2012 @ 04:29 PM by 1947flxible

India to pay gold instead of dollars for Iranian oil. Oil and gold markets stunned

debka.com

India is the first buyer of Iranian oil to agree to pay for its purchases in gold instead of the US dollar, debkafile's intelligence and Iranian sources report exclusively.

(visit the link for the full news article)

reply posted on 23-1-2012 @ 04:29 PM by 1947flxible

Warning Sign of epic proportions people, gold for oil is one of the signposts to be worried about, this is the beggining of the dollar loosing its status as the world reserve currancy. India has recently purchased quite a bit of gold, i dont think this is a fluke, they predicted having to purchase with gold.

debka.com
(visit the link for the full news article)

I just thought of something i saw a while ago, at 6:10 of this video it describes oil being traded by OPEC for Gold or Renminbi only they will not accept US dollars.
www.youtube.com...

edit on 23-1-2012 by 1947flxible because: Add a bit of information

Ben Bernanke says Gold isnt money, i guess he has been proven quite wrong , if your in India.
www.youtube.com...#!

India mulls non-rupee option to settle Iran oil dues
www.business-standard.com...

China, Russia, France and Gulf states have secret talks about non dollar based oil transactions
www.independent.co.uk...

edit on 23-1-2012 by 1947flxible because: Just added some more info

edit on 23-1-2012 by 1947flxible because: a little added info

reply posted on 23-1-2012 @ 04:37 PM by Iwinder

If this is indeed fact then this is the end of our current money system, 40% of Irans oil paid for in gold is a death bell to the west and probably long long over due.

Not to mention the military aspect of it, as in they will protect their oil they purchased without a doubt.
Not doubting the original link provided but do you have any more?
Staying tuned to a potential killer thread here.
Regards, Iwinder
S&F

reply posted on 23-1-2012 @ 04:42 PM by camaro68ss

shut the front door! wow, this will change the game a bit! Now NATO is really going to bomb Iran! There not playing into the ponzi game anymore.

reply posted on 23-1-2012 @ 04:45 PM by Aloysius the Gaul

Indian gold reserves are not particularly large - the central bank has some 600 tons - the 12th largest in the world. But private holdings are estimated to be anything from 10-20,000 tons.

12. India
Value of reserves: $28.69 billion
Holdings total: 614.75 tons

Shooting up in the rankings in the past few years is India. The second most populous nation in the world maintains the 12th largest gold reserves. The size of India's holdings were bolstered in November 2009 by a $6.9 billion purchase of 200 tons of gold from the International Monetary Fund.

www.cnbc.com...

According to this site - if they imported all their oil from Iran (which i assume they do not) that would lat them about 4 months (by eyeball off the graph)

However according to Bloomberg India has actually been asked to pay Iran in Yen - not gold at all. The trade is worth $9.5 billion according to that article, so if they were using gold it could last for 3 years.

edit on 23-1-2012 by Aloysius the Gaul because: (no reason given)

reply posted on 23-1-2012 @ 04:46 PM by calnorak

I still think that people that can grow and protect their food, will end up way better in the long run if TSHTF.

If this is a precursor to economic hard times.

edit on 23-1-2012 by calnorak because: (no reason given)

reply posted on 23-1-2012 @ 04:48 PM by AzureSky

Originally posted by camaro68ss
shut the front door! wow, this will change the game a bit! Now NATO is really going to bomb Iran! There not playing into the ponzi game anymore.

The economic hitmen have failed. Time to go to war. After attempted assassinations, or actual assassinations. There are certain stories out there that need to be heard that bring lots of things into a whole new light. This is one of them. what is happening now is what happened to iraq, afghanistan(sp?), and various other places across the world. The ones who do not agree to the ponzi scheme. Get destroyed, and the ponzi scheme is FORCED on them. And they trick us into supporting it!! It makes the blood boil.

reply posted on 23-1-2012 @ 04:51 PM by Iwinder

Originally posted by Aloysius the Gaul
Indian gold reserves are not particularly large - the central bank has some 600 tons. But private holdings are estimated to be anything from 10-20,000 tons.

12. India
Value of reserves: $28.69 billion
Holdings total: 614.75 tons

Shooting up in the rankings in the past few years is India. The second most populous nation in the world maintains the 12th largest gold reserves. The size of India's holdings were bolstered in November 2009 by a $6.9 billion purchase of 200 tons of gold from the International Monetary Fund.

www.cnbc.com...

According to this site - if they imported all their oil from Iran 9which i assume they do not) that would lat them about 4 months (by eyeball off the graph)

However according to Bloomberg India has actually been asked to pay Iran in Yen - not gold at all. The trade is worth $9.5 billion according to that article, so if they weer using gold it could last for 3 years.

Thanks for the links, I am not sure what to think here but I believe it is not good news for the States.
Your second link was most informative indeed.
Sure makes you think why countries are scrambling to buy gold when the USA just prints it out on paper.
Regards, Iwinder

reply posted on 23-1-2012 @ 04:52 PM by Maxmars

I am inclined to think this is not as earth-shattering as the teleprompter fed talking-heads will lead us to believe.... but it could be... assuming India is only the beginning.

However, gold is not an 'easy' way to pay for billions in oil imports... and India may have had little choice in the matter...

It occurs to me that I should explain that someone may correct me.

With Iran's Central Reserve bank now locked out - how else could India pay for the oil it has contracted to receive?

edit on 23-1-2012 by Maxmars because: (no reason given)

reply posted on 23-1-2012 @ 04:55 PM by Doctor G

The only problem I have with this is:
Is India going to use the gold they got from the IMF which is gold plated bricks and not solid gold?

reply posted on 23-1-2012 @ 04:58 PM by DevilsApprentice

reply to post by camaro68ss

Yep , this is what it's all about , nothing at all to do with nuclear weapons . Bankrupt Bernie and his cohoughts will be screaming for Iran to be annihiliated now . Good job India , stick 'em where it hurts

. Drop the $ as world reserve and watch the banksters in YN panic when they don't get their cut .

Gold is not money

reply posted on 23-1-2012 @ 05:00 PM by Iwinder

I see a lot of comments on India here but no mention of China doing the same thing........scary thought when you think of China's purchasing power and the amount of gold they have amassed.
Any thoughts with China thrown into this equation?
Just asking and not bashing.
Regards, Iwinder

reply posted on 23-1-2012 @ 05:10 PM by 1947flxible

reply to post by Iwinder

virtualjerusalem.com...

India is the first buyer of Iranian oil to agree to pay for its purchases in gold instead of the US dollar, debkafile's intelligence and Iranian sources report exclusively. Those sources expect China to follow suit. India and China take about one million barrels per day, or 40 percent of Iran's total exports of 2.5 million bpd. Both are superpowers in terms of gold assets.

By trading in gold, New Delhi and Beijing enable Tehran to bypass the upcoming freeze on its central bank's assets and the oil embargo which the European Union's foreign ministers agreed to impose Monday, Jan. 23. The EU currently buys around 20 percent of Iran's oil exports.

reply posted on 23-1-2012 @ 05:20 PM by galactictuan

reply to post by 1947flxible

Another step in the right direction for that 'Something Wonderful' to happen.

Too long has the Satanist American Pedophilia Regime run this world.

Who knew that their fiat money system would also be their achilles heel.

You are about to witness the end of it all. How long will it take? Another week? Month? 6 months, who knows but by December 21, 2012, I'm sure it will be done and a new Age will be here.

Don't have any fear people (unless you were a Satanic child-raping Nazi), then just Rejoice!

reply posted on 23-1-2012 @ 05:24 PM by Iwinder

reply to post by 1947flxible

Thanks for that link, I did read it in your OP and thought that a lot of readers here were ignoring it or simply did not read the entire OP.
Hence my asking about China......This is earth shattering news when you throw China into the equation.
Again thanks for the great thread and information.
Regards, Iwinder

reply posted on 23-1-2012 @ 05:43 PM by rebellender

I agree with MM Lets not get all wrapped around the axle about this. Iran only pushes out what 4% of the worlds oil. But lets not ignore the Pink Elephant on the monitor of India turning on the US like this. This speaks volumes people. And we will see just how loud and clear, soon enough

reply posted on 23-1-2012 @ 05:45 PM by cuchullainuk777

There goes the old order, circumvent the un embargo by selling for gold

reply posted on 23-1-2012 @ 05:46 PM by xuenchen

reply to post by Aloysius the Gaul

What would stop India or anyone from buying gold on the open markets ?

Or any currency either ?

reply posted on 23-1-2012 @ 05:53 PM by Aloysius the Gaul

Originally posted by xuenchen
reply to post by Aloysius the Gaul

What would stop India or anyone from buying gold on the open markets ?

Or any currency either ?

dunno - what would?

reply posted on 23-1-2012 @ 05:53 PM by Cancerwarrior

The begining of the end. You know what? I bet the majority of people will not even give this a second glance. The band will play the entire time the ship is going down.

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