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

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posted on Jan, 24 2012 @ 07:52 AM
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Seems a lot of speculation on how much gold India can and can't produce, but what about the gold they have in store and who knows whom they are allied with (who in turn are willing to support them via gold deposits).

America is looking more and more like the the fat overweight participant in the this game of political chess.




posted on Jan, 24 2012 @ 07:53 AM
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reply to post by tarifa37
 


Yes at current levels. Is it possible gold for oil would increase gold value substaintially? I remember oil jumped fro avg $35 to what $90 in one year then peaked at $100 plus in a couple years. Tells me the dollar almost dropped that much in value. Gold will be valued as its necessity vs scarcity coupled with buying power. I could be wrong but money can be printed, gold cannot be created. If it were at some point a standard, the value cannot be artifically deflated like our dollar is continuously. This makes sense considering there is a cash for gold storefront on every other block and gold being horded around the world. Seems like others see whats coming.



posted on Jan, 24 2012 @ 07:58 AM
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Originally posted by Gorman91
It's going to blow up in their faces. India has gold in its soil, as well as fresh water and high elevation fertile lands. These are all things China would need under a gold standard and an eastern based economy.


That will lead China to having tensions in India within the near future, and inevitably draws China into the region.


Once China enters the region, everyone is screwed.


Dont be ridiculous China and India both have nukes and each have one of the biggest populations on the planet. Where as China has cheap uneducated workers India has more honor students than America has students.

War between India and China would be prolonged and pointless.



posted on Jan, 24 2012 @ 08:01 AM
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Originally posted by tarifa37
There isnt enough gold (that has already been mined) on earth to pay for oil long term.


If you don't have enough gold, you can always trade something for gold, ie. give Iran food for gold, in return give that gold back to Iran for oil.



posted on Jan, 24 2012 @ 08:03 AM
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It will just mean more gold for NATO to steal when Iran is invaded.

Simple. Anyway, good on India to tell the warmongers to suck it.



posted on Jan, 24 2012 @ 08:05 AM
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reply to post by TiM3LoRd
 


You're thinking last century. The Americans, Japanese, and Koreans have already developed technology that makes all but sub-based nukes obsolete. And China has the one up on India for that.

Furthermore you are assuming nukes would be used. Nukes would not be used. There is no practical reason to use them. The only nation on Earth that would be crazy enough to use nukes in a conventional war is the USSR, and they no longer exist. Russia has since been taken over by more sophisticated people and they show no signs of doing such in a war.

Nukes are only to be used in response to another nation using them. Furthermore, that's not even a guarantee. Limited nuclear warfare would be plausible for whatever given reason.

In the situation of a war between China and India over resources, nukes would not be used because the use of such would make it impossible to win the war. Even if, say, India successfully repressed a Chinese land invasion, if nukes were used, their water supply would be gone and they would lose the peace. China would just need to wait 10 years for the radiation sickness to invalidate most of their population, and they would win.

The age of the nuke is all but over. With new technology it's pretty much just a joke to imagine nukes in any war other than if someone insane was in power.
edit on 24-1-2012 by Gorman91 because: (no reason given)



posted on Jan, 24 2012 @ 08:08 AM
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Originally posted by tarifa37

There isnt enough gold (that has already been mined) on earth to pay for oil long term.


Isn't that the truth?

We're already selling 4 oz. of gold for every 1 oz. in existence.

Using gold as a monetary base is unmanageable and too hard to track, therefore leaving inflationary rates to fluctuate out of control.



posted on Jan, 24 2012 @ 08:12 AM
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Australia is one of the biggest miners of Gold...So which country do you think buys most of Australia's gold?
Thats Right.... India.
And we thought it was for their jewellery.



posted on Jan, 24 2012 @ 08:23 AM
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How long can gold be considered valuable anyway? Eventually our society as a whole will figure out you can eat the stuff, right? I guess it has practical uses because of it's conductive properties but why do we place such value on it? Maybe the galactic overlords use it for fuel or something.

The U.S. is probably short on gold (who really knows) but we have plenty of our own oil and I bet once the mid east runs dry we'll be in a pretty good position. Drill baby drill!



posted on Jan, 24 2012 @ 08:24 AM
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you know what that means, lybia 2.0. bankers dont like gold because it actually has value , they like monopoly paper because they can it print as much as they want. time to bomb india



posted on Jan, 24 2012 @ 08:26 AM
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You must watch this video:

The Gold Dinar and the future of Islamic money, Gold, sliver are really the only acceptable forms of money in Islam, this is why fiat economies are going after them under the guise of WMD and terrorism:




posted on Jan, 24 2012 @ 08:31 AM
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The world will run out of gold before it is out of fiat currency. Nations would rather use dollars than their gold for something that burns up.



posted on Jan, 24 2012 @ 08:34 AM
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reply to post by Cassius666
 


No it wont, gold controls fiat money if your supply of gold gets less, your dollars per ounce goes up, meaning each ounce of gold is automatically worth more dollars. Simple economics



posted on Jan, 24 2012 @ 08:46 AM
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Remember they accidentally released some of the Indian propaganda on BBC News during the war on Libya



TPTB knew this was coming, India has a large crosshair on it



posted on Jan, 24 2012 @ 08:47 AM
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Well come on now, think about it... Iran see's the US as a hostile, along with Israel. If you were Iran would you take the currency of your enemy, and we are their enemy. Why would you deal with a country intent on attacking you, which one can pretty well gather are our intentions. So Gold would be an obvious currency you could trade everywhere without fear of the dollar crashing or fluctuations in interest rates.. Come on, it just makes sense. It would be a far safer currency for them to accept.



posted on Jan, 24 2012 @ 08:51 AM
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reply to post by 1947flxible
 


If every country went back to a gold/silver standard...well, there is only so much of it on earth.
The governments go to great lengths to protect what they say they have....do they really have as much as they say? If I recall...the last time auditors for the government wanted to go into fort knox...they weren't allowed too see the 8,200 tons of gold that the USA is supose to have.
I personally think that if we all knew the trueth about everything with the economy, we would be really mad...because I personally think that if the curtain were opened and it was all revieled to us..the cost of a gallon of milk...currently at $3.89 here...would go up 50-100 times that amount...if the trueth was known.
The printing of money, with us being off the gold standard...is crazy.
Gold has the same value as it did 100 years ago, the dollar has just lost that value due to excessive amounts of them being printed and distribted to everyone.
A brand new car..A camero ss on the showroom floor in 1968 was about $3200. What is it for one now?

Stock what you need and use daily...for when the house of cards falls, its going to quick. There will be those that have and those that have not.



posted on Jan, 24 2012 @ 08:52 AM
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Come on, the dollar is really worthless with so much overprinted out of thin air with nothing of value backing it. Like it or not, it's reality.



posted on Jan, 24 2012 @ 08:53 AM
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Originally posted by jondave
This would be perfect if the Country taking gold was a little more respectable than Iran,-- like Canada, or Saudi.
Anyway it is going to happen soon, and every Country will pay for oil with something of value, gold or silver probably. As for the greenback---HAHAHAHAHA.

Just thought about it this way that once people have paid in Gold and if NATO/US or whoever decides to topple the Iranian Government then what happens to the Gold or value received from the oil ?
Can this also be a means to instant access to the Wealth generated by the previous trades?
I know the idea is far fetched but what we see and hear in MSM isn't necessarily what goes on behind the doors with the deals that get cut with the opposition parties within a particular country (in this case IRAN). The opposition parties will get to be in power in return for the bounty collected during oil trade with other nations. Just a WAG



posted on Jan, 24 2012 @ 08:56 AM
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Originally posted by THE_PROFESSIONAL
You must watch this video:

The Gold Dinar and the future of Islamic money, Gold, sliver are really the only acceptable forms of money in Islam, this is why fiat economies are going after them under the guise of WMD and terrorism:





You're partially correct.

According to Islam

Gold standard is based on Islamic principles. Islam considers commodities with intrinsic value as currency. Following are some examples of commodities used as currency: Gold, Silver, Rice, Dates, Wheat, Barley, Salt.

A capable adult is obligated to donate only 2.5% of his total financial value per year to the poor and needy.

What is a capable adult? Someone who owns at least 21oz Silver or 3oz Gold or other ownership value equivalent at the point of time.


SUMMARY OF ISLAMIC FINANCIAL LAW

■ Gold, Silver, Rice, Dates, Wheat, Barley, Salt
■ Capable person obligated to donate only 2.5% of total financial value per year - unlike corrupted Zionist system.
■ Yes the ratio of Gold to Silver is 1:7


edit on 1/24/2012 by wisdomnotemotion because: coding



posted on Jan, 24 2012 @ 09:17 AM
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reply to post by rebellender
 


Yes it speaks volumes as to the failure of this Obama presidency. I wish I had one of those "Men in Black" strobe lights that could make me forget the last 3 years all together...





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