Godlike Productions - Reply to Thread

Users Online Now: 1,525 (Who's On?)	Visitors Today: 343,923
Pageviews Today: 544,472	Threads Today: 223	Posts Today: 3,589
06:18 AM

Back to Thread

REPLY TO THREAD

Subject Iran: 907 tons of gold; why don't they just say fuck it, and back the Rial with gold/oil?

User Name

Font color: Font:

In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.

Original Message Iran "officially" (read: they'd be insane to declare everything they have!!) has 907 tonnes of gold.
source: [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
Source: [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.

??????
thoughts
???????

Pictures (click to insert)

News