India to pay gold instead of dollars for Iranian oil. Oil and gold markets stunned
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.
The vast sums involved in these transactions are expected, furthermore, to boost the price of gold and depress the value of the dollar on world markets.
This is not good for the US dollar. There are now multiple arrangements between countries to drop the USD for some other currency. The OWC and NWO are just around the corner.
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Money Changer Alert .. !
Mon, 01/23/2012 - 15:56This may get very interesting and get some shovel ready jobs for all the unemployed / under employed pirates as they start raiding ships & caravans carrying gold! Gold!! GOLD!!! Hey just like 7th century Islam ... !
Shama-Shamar-Kaiya
Tue, 01/24/2012 - 10:10I Captain, shiver me timbers!! I feel so optimistic now.