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Iran: 907 tons of gold; why don't they just say fuck it, and back the Rial with gold/oil?
Ms Sans Serif
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[quote:Anonymous Coward 11713342:MV8yMDA4MDExXzMzNzM3NjE1XzVDNUVBOEJG] [quote:Anonymous Coward 24811310:MV8yMDA4MDExXzMzNzM3NTkxXzkxQUM1OEY3] That is exactly what Gaddafi was about to do with the dinar - and look what happened to him. [/quote] Good point, but they hadn't cut Libya out of the SWIFT system, had they? -- so it kindof makes more sense to Ahmedinijad than Gadaffi, IMO. [/quote]
Iran "officially" (read: they'd be insane to declare everything they have!!) has 907 tonnes of gold.
link to www.presstv.ir
That's 3x more than the UK (Cheers, Gordon Brown).
It's value is, at todays gold price of $1780/ Oz:
1780*32.1 Oz/kilo = $57,000 per kilo
1000 kilos in a tonne.
$57,000,000 per tonne.
57m * 907 = $51.7 bn
Gross external debt in 2010 was $14.34 billion
link to en.wikipedia.org
So, why not back the currency with oil or gold?
Inflation problem solved.
Currency collapse problem solved.
First 'hard' currency in new world.
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