posted on Jul, 12 2012 @ 04:18 PM
Turkey has exchanged nearly 60 tons of gold for several million tons of Iranian crude oil, despite its promises to uphold Western sanctions on
Iran’s energy sector, according to recent Turkish reports.
By using gold instead of money, Turkey is able to skirt Western sanctions on Iran’s oil trade, particularly those pertaining to SWIFT, the global
money transfer service that until recently assisted the Central Bank of Iran and other Iranian financial institutions.
Here is a thread where India did it:
I think it's funny where it says, "by using gold instead of money" - I think they are confused on the real definition of money.
Folks, the US dollar is closer to ever of losing the status of the world reserve currency. This was done for sanctions, but now the oil rich countries
know they can get gold; they will start pushing harder for gold.