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Gradually it appears this is increasingly the case following a just released Reuters report that "Iran will take payment from its trading partners in gold instead of dollars, the Iranian state news agency IRNA quoted the central bank governor as saying on Tuesday."
Originally posted by randomname
that is why the powers that be are buying all the gold up in record pace the last few years.
with all the sell gold for cash gimmicks popping up everywhere to the mail order gold refiners that will send you money for your "broken" gold. follow the gold for the true power players.
they are trying to take as much gold out of the market as possible. this drove up the price. if the majority of nations want to use gold to buy oil and pay debts they are going to have to pay a premium for it.
and the trump card is that the could flood the market with gold at any time and devalue it, possibly destroying any nations economy that relied or was using gold as payment.
if iran took gold as payment for oil, then it was devalued, in effect they gave away millions or perhaps billions of barrels of oil for free.
someone stands to make a massive killing.
edit on 28-2-2012 by randomname because: (no reason given)
Originally posted by FissionSurplus
reply to post by Wrabbit2000
Thanks for the links. In the article "Iran goes for Gold - A Scenario", the bottom line of that article is that, in the United States' effort to screw over Iran, we will end up screwing ourselves by devaluing the dollar, because the rest of the world won't trade in dollars anymore.
Since the dollar devaluation is something that has been warned of for many years, me thinks this action on behalf of our government is done to speed us along towards that inevitable financial collapse, and Iran is just the excuse they cooked up.
Originally posted by Vitchilo
reply to post by Rockpuck
Iran for instance does not actually drill it's own oil .. it's mostly British and French drillers.
How is that possible with sanctions in place??
Originally posted by Rockpuck
reply to post by Vitchilo
Sanctions were only in place for American companies.. BP is Iran largest oil partner.
I was incorrect in one statement: Iran does drill 60% of it's oil through the National Iranian Oil Company, which I was unaware was actually a state run agency, I thought it was an independent corporation. BP, Naftiran Intertrade Co (Swiss) Kala Naft (british) and Total S.A (France)
The "bourse" Is the actual commodity exchange for Iran..
And while Iran may have halted exports to France and Britain as of last month .. there is no indication that current contracts have been broken. So they are still drilling.
en.wikipedia.org...edit on 2/28/2012 by Rockpuck because: (no reason given)