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Subject China Paying for Iranian Oil in Gold is Most Important Event in Modern History

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[quote:Anonymous Coward 15530011:MV8xODQ3MDUxXzMxMDA1NTUwXzQ1NjlFNTdF]
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How do they value the gold if they are not using the USD as the benchmark?  Does this mean China will put its own price on the gold it is trading?
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One oz of gold = x barrels of oil

Do you see a $ in this equation?
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Sorry but both gold and oil can be easily had with the correct amount of dollars.

Failure to consider how many $'s both trade in will open yourself to arbitrage traders who will do this for you as you become poor and they become rich :D
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I would rather have a pocket full of gold than a pocket full of fiat dollars that will  be subjected to QE infinity!
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And you will be singing a different tune when the day of reckoning occurs.  Sorry sir your bill is due in $$'s we don't accept rocks here.  LOL!!!

I'll toss a little hint your way.  QE to infinity doesn't mean the dollar becomes worthless.
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Well u need to go ask Greenspan who said all we need to do is print more dollars to solve all our debt issues!
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I guess in mommy's basement dollars are quite valuable, however in the real world the more that are in curculation the less valuable they are!
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Yes and circulation has been coming to a grinding halt, hence USD's strength and the high unemployment.
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That is where u r totally WRONG look up QE1, QE2,and soon QE3!
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Sorry but I'm not wrong.  Look for yourself M1 velocity (circulation) is crashing despite all the QE. 
http://research.stlouisfed.org/fred2/series/M1V?cid=32242
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m2 look that up1
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Original Message [link to networkedblogs.com]

Forbes reports that China will begin paying Iran in gold for its oil rather than dollars on June 28th.
The legendary Jim Sinclair states that this is the most important event in the modern history of gold, and that gold is officially replacing the US dollar June 28th.
We agree wholeheartedly as this massively accelerates gold’s replacement of the dollar as the world reserve currency.
Meanwhile, the paper trading Geeks mindlessly trade the new reserve currency down to the low $1600s.
From Jim Sinclair:
The implications of China paying for Iranian oil in gold is the most important event in the modern history of gold.

[link to www.forbes.com]

GAME OVER MAN, GAME OVER

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