India to pay gold instead of dollars for Iranian oil. Oil and gold markets stunned , page 4

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reply posted on 24-1-2012 @ 01:15 AM by abe froman

If there is anything to this TPTB in the US will just finally give us the electric or hydrogen powered cars that we've had all along. And then what happens to the middle east?

reply posted on 24-1-2012 @ 01:24 AM by Bisman

Weren't we good friends with India?
not saying they should have to use our dollar to trade for everything. But i would think because of the region, they wouldn't be so helpful to Iran.
Is India desperate?

reply posted on 24-1-2012 @ 01:25 AM by 0bserver1

Very smart its the only thing that has left some value these days.....the money we use is printed out of thin air!

reply posted on 24-1-2012 @ 01:26 AM by Swills

Originally posted by PrinceDreamer
Iraq wanted to trade for oil in gold, so did Libya and look what happened to them

If this is true this is the death bell for Iran sadly

Saddam Hussein wanted to trade the Euro for oil, not gold, but any trading of oil that does not include the US dollar makes the western war machine angry! Grrr!

This is huge news if Iran starts a domino effect of trading their oil for other currency. China will follow suit and I'm curious to see what Russia will do. They've said they're against sanctions but that doesn't mean they won't go with the flow and join the US, but with India and China working with Iran to circumvent the bank freeze Russia could join in on the fun. So everyone keep your eyes open.

edit: I found what I was looking for about Russia and Iran relations.

UPDATE 1-Iran-Russia trade in domestic currencies -Iran envoy

www.reuters.com...

Fri Jan 20, 2012

Jan 20 (Reuters) - Iran and Russia have started using their domestic rial and rouble currencies in bilateral trade instead of the U.S. dollar, Iran's envoy to Moscow said on Friday, after the United States imposed new sanctions on the Middle East state.

"(Trade) is based on our national currencies," said Iranian ambassador to Russia Seyed Sajjadi.

"We started this work long ago. Iranian businessmen are buying products in Russia and are using the rouble as (payment) currency ... The U.S. dollar has no (economic) support base," he said speaking at a news conference.

edit on 24-1-2012 by Swills because: (no reason given)

reply posted on 24-1-2012 @ 01:28 AM by gladtobehere

Kadafi advocated that the World begin to trade gold for oil instead of using the dollar.

RIP Iran.

edit on 24-1-2012 by gladtobehere because: (no reason given)

reply posted on 24-1-2012 @ 01:40 AM by wisdomnotemotion

Iraq, under Saddam Hussein, traded oil in Euro. That was why USA invaded Iraq, captured its oil fields and restored trading to US Dollar.

Iran has been trading crude oil in Euro and Yen since 2008.
www.reuters.com...

If it's true Iran going ahead for gold now, I hope the Zionists and US government have their daily dose of anti-depression pills

reply posted on 24-1-2012 @ 01:40 AM by Coppertone

I think the source provided by the OP got it wrong.

according to numerous reports yesterday, Iran wants india to pay it in Yen

BusinessWeek

Not usre what Iran would do with all that gold anyway. As a "wise" man once said "Gold ain't money"

reply posted on 24-1-2012 @ 01:43 AM by Donkey_Dean

Originally posted 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)

Yeah, they wont allow that! It means war! I wonder if we will tangle with India?

reply posted on 24-1-2012 @ 01:52 AM by GhostR1der

Which puts the yanks in a hard place - they won't like the Indians or the Iranians so much over this dollar devaluing issue but they can't squash them both.

reply posted on 24-1-2012 @ 01:54 AM by Swills

Originally posted by Coppertone
I think the source provided by the OP got it wrong.

according to numerous reports yesterday, Iran wants india to pay it in Yen

BusinessWeek

Not usre what Iran would do with all that gold anyway. As a "wise" man once said "Gold ain't money"

That's funny, I found this article and it says the rupee is gonna be the currency of choice

. I guess you combine them together and you got yourself a way to buy oil US sanctions or not.

India drawn to Iran's favorable oil terms: minister

www.reuters.com...

An Indian delegation went to Tehran last week to discuss options and the two sides have agreed India could use its restricted rupee currency for some of the payments, a government source said on Friday.

A rupee account for Iran could be used to settle Tehran's imports from third countries, the industry source said. "It will be an extension of the rupee arrangement wherever possible," the source said on condition of anonymity.

"Iran was very accommodative," Reddy said, adding that India respected United Nations sanctions but "we don't go by sanctions imposed by regional blocks, by certain nations."

edit on 24-1-2012 by Swills because: (no reason given)

reply posted on 24-1-2012 @ 02:22 AM by piotrburz

I will recall my topic:
www.abovetopsecret.com...

It's exactly what US is afraid of. The world is in a historic moment of choosing new global currency.And we see that everyone shift from dollar to their national currencies. While dollar is collapsing,everyone want to take a piece of pie, and aspire to be global player[when the cat's away the mice will play]. America wake up and do something to strengthen faith in $.
The first nice step would be electing Ron Paul on president chair

edit on 24-1-2012 by piotrburz because: (no reason given)

reply posted on 24-1-2012 @ 02:25 AM by thepixelpusher

Originally posted by Mkoll
I think that this means war very soon. That is going to be hard to sell if the Iranians don't shoot first. That doesn't mean that the American war machine won't pay a price in blood to get it started, though.

I'm not sure that this means war at all (maybe just the threat or some small actions). It may have been the plan for the NWO to push the regions around to scare Iran, Russia, China, etc. into using gold for a percentage of trades all along. Then the NWO plays the card to issue a new global currency that is partially backed by gold for all to use. These NWO types are very, very good at playing PSYOPS strategies because they have deep research on people's psychologies. Don't think they are playing chess on one level. They are playing chess on multiple levels and dimensions with ways to redirect people to the end goal they have in mind.

reply posted on 24-1-2012 @ 02:34 AM by CandorMyander

reply to post by Iwinder

omg, so interesting, they are taking one comodity dug from the earth to pay for the other, one burns and the other one melts. so when the oil is gone the gold remains. interesting. the fact they are doing this is not death to our dollar, but it does show that people are asking for one better, when our one better , the standard world wide was our dollar.

I am not amazed by this, it had to happen sooner or later, and it will be in our court and on our side again once our country takes control of the tech side of business in the world again. Its a revolving door. dont freak out, the door keeps spinning it will land on us again , and our dollar will go back to being numero uno.

reply posted on 24-1-2012 @ 02:36 AM by petrus4

Originally posted 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.

The real question here, will be whether or not a sufficiently large number of the global population, are still prepared to believe in the US' lies, to the point where the invasion of Iran can proceed. Methinks perhaps not; there are signs that the jig is up on that score. The Iranians at least are apparently well aware of the American government, whether or not America's own people are.

India is to be praised for this, however. We can pray that she begins to remember more of her heritage in general terms, from this point on. Foreign interference has been doing the country enormous harm, even after Gandhi's efforts with the British. The cry of, "Jai Hind," not only needs to be heard far more often; but there needs to be real action behind it. Of the actions of atheists and Christians in that country, I have heard the following said:-

"If they destroy the caste, they will destroy Hinduism.
And if they destroy Hinduism, they will destroy India."

reply posted on 24-1-2012 @ 02:46 AM by pstrron

Trading in gold, Yen, Rupees and the Yuan for oil will simply open up Pandora's box for the USD. While gaining a stronghold for the CNY in the ME. As for Iran, India and China, it can only be a win win situation. The USD takes a major hit while gold, INR and CNY gain and Iran gets around the sanctions. Should the US try and get froggy with Iran, it will not bode well with Russia and China.

This may very well be the Golden bullet than sends the USD to Boot Hill.

reply posted on 24-1-2012 @ 02:59 AM by Rafe_

Originally posted by cuchullainuk777
reply to post by Mkoll

poke a stick in a bear cage sooner or later the bear will lash out thats all the pretext US needs for green light.US knows a solid pretext is required sooner or later its gonna happen

Your right ,the bear will lash out and as a matter of fact they already did. Just not in the way you expected them to.

Iran has been while the U.S had been planning and expecting to go to war with them very cosy with India. China and Russia and are now ready to replace the U.S dollar where it matters. They found a way to lash out harder then any missile ever could.

No matter how you choose to look at this but this is a alliance.

The last thing the U.S needs now is warmongering.The U.S was busy with checkers while Chess was being played instead.

edit on 24-1-2012 by Rafe_ because: (no reason given)

reply posted on 24-1-2012 @ 03:34 AM by Observor

I don't think India will be transferring any gold to Iran.

Iran and India agreed to conduct their bilateral trade in the Indian currency. Since Iran has a trade surplus with India, it means Iran will be left with savings denominated in Indian Rupees. Indian economy is in good shape and Iran wouldn't mind investing their saving in India, provided the restrictions aren't too stringent. But the Indian government is restricting the sectors that Iran can invest her savings in. The Indian Rupee is quite volatile and Iran would be taking huge risks of leaving her savings or just significant amount of it just with the bank denominated in the Indian currency.

I think what this news item means is that Iran is buying gold bonds, backed by the government of India, with her savings in INR. The bonds themselves may be redeemable in a currency of their choice whose value would be determined by the market price of gold in that currency on the date of redemption. This would have the effect of pegging the savings to the value of the gold (removing the risk of a depreciation in Indian Rupee) without actually removing the gold from the markets driving its price up.

reply posted on 24-1-2012 @ 03:56 AM by Rafe_

reply to post by Observor

That may very well be ,or maybe not but at the end of the day the dollar is being circumvented and other currencies are used for their dealing in oil.It doesn't matter wether they use Gold ,rupees ,rubles the yuan or toothpicks because the dollar in this situation is made redundant nonetheless.

reply posted on 24-1-2012 @ 04:25 AM by JohnPhoenix

Originally posted 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.

YES !! Someone gets it.. India does! I hope other countries follow suit. This NEEDS to happen. The U,S, Dollar Needs to go down !!

Don't you people see.. This is a The best thing that can happen. Take control away from the Federal Reserve and the Corporation of the united states ( The Act of 1871). After this we can rebuild and become a true country again. That can never happen is people insist in using our FED controlled U.S. currency.

This is a Great Day.

reply posted on 24-1-2012 @ 04:33 AM by notonsamepage

reply to post by 1947flxible

Rofl, this is epic! a nice slap to the faces of all the fat cats
I hope they are crying now,,,