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China to begin purchasing Iranian oil with gold on June 28th...

 
Anonymous Coward
User ID: 14819038
United States
04/23/2012 09:02 PM
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China to begin purchasing Iranian oil with gold on June 28th...
"Beijing is planning to avoid U.S. financial sanctions on Iran by paying for oil with gold. China’s imports of the metal are already large, and you can guess what additional purchases are going to do to prices. On the last day of 2011, President Obama signed the National Defense Authorization Act for Fiscal Year 2012. The NDAA, as it is called, attempts to reduce Iran’s revenue from the sale of petroleum by imposing sanctions on foreign financial institutions conducting transactions with Iranian financial institutions in connection with those sales. This provision, which essentially cuts off sanctioned institutions from the U.S. financial system, takes effect on June 28."

[link to www.forbes.com]
Anonymous Coward (OP)
User ID: 14819038
United States
04/23/2012 09:19 PM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
This will affect every American more than any other event in the last 10 years.
Anonymous Coward (OP)
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United States
04/23/2012 09:52 PM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
The Gold Standard Shuffle

"...What we are witnessing is a sea change in which market forces are driving a de facto return to the gold standard. All that is missing for this to be a de jure gold standard is some regulatory and legal recognition and one has been proposed. The Basel Committee for Bank Supervision, the maker of global capital requirements is studying making gold a bank capital Tier 1 asset..."

- Professor Lew Spellman, University of Texas 4-23-12

[link to thespellmanreport.com]
Anonymous Coward
User ID: 1121444
United States
04/23/2012 09:56 PM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
"Beijing is planning to avoid U.S. financial sanctions on Iran by paying for oil with gold. China’s imports of the metal are already large, and you can guess what additional purchases are going to do to prices. On the last day of 2011, President Obama signed the National Defense Authorization Act for Fiscal Year 2012. The NDAA, as it is called, attempts to reduce Iran’s revenue from the sale of petroleum by imposing sanctions on foreign financial institutions conducting transactions with Iranian financial institutions in connection with those sales. This provision, which essentially cuts off sanctioned institutions from the U.S. financial system, takes effect on June 28."

[link to www.forbes.com]
 Quoting: Anonymous Coward 14819038


5 Fucking stars!!!!!
Anonymous Coward (OP)
User ID: 14819038
United States
04/23/2012 10:01 PM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
"Beijing is planning to avoid U.S. financial sanctions on Iran by paying for oil with gold. China’s imports of the metal are already large, and you can guess what additional purchases are going to do to prices. On the last day of 2011, President Obama signed the National Defense Authorization Act for Fiscal Year 2012. The NDAA, as it is called, attempts to reduce Iran’s revenue from the sale of petroleum by imposing sanctions on foreign financial institutions conducting transactions with Iranian financial institutions in connection with those sales. This provision, which essentially cuts off sanctioned institutions from the U.S. financial system, takes effect on June 28."

[link to www.forbes.com]
 Quoting: Anonymous Coward 14819038


5 Fucking stars!!!!!
 Quoting: Anonymous Coward 1121444
i was wondering how long it would take for someone with a brain to realize the importance of this

rockon
Anonymous Coward (OP)
User ID: 14819038
United States
04/23/2012 10:14 PM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
lol, but i guess most are more interested in dandelion mutations

good luck, you're gonna need it
Anonymous Coward
User ID: 11722061
United States
04/23/2012 10:30 PM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
Won't affect OPEC or Saudis
Anonymous Coward
User ID: 9225014
United States
04/23/2012 10:31 PM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
bsflag
Anonymous Coward
User ID: 1492203
Canada
04/23/2012 10:38 PM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
Won't affect OPEC or Saudis
 Quoting: Anonymous Coward 11722061


You are wrong.

The Saudis and the rest of OPEC are getting FIAT for their oil.

Iran is getting gold for their oil.

This is very bad news for the "longevity" of the petro-dollar.
ThyKpDrgnMeBk

User ID: 13967233
United States
04/23/2012 10:55 PM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
Or is it Tungston?

[link to gold-quote.net]
[link to www.youtube.com]
Perspective is everything

1.NervousNJerky
b.UndisclosedScource
Anonymous Coward
User ID: 14943861
United States
04/23/2012 11:21 PM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
nothing but chess moves
on a board

China bypasses sanctions

then US freezes Chinese financial assets

your move !!!
Anonymous Coward
User ID: 5890490
Netherlands
04/23/2012 11:24 PM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
This is great news and ironic too.

China is one of the biggest buyer of US gold. So basically they give Fed back the worthless paper Fed printed in exchange for precious metal. Fed is collecting the worthless paper it printed and give away precious metal (well maybe tungsten).

And thanks to all the bank cartels such as JP Morgan China is able to buy gold at well-manipulated low price. The machine is operating as smooth as can be.
Anonymous Coward
User ID: 14943861
United States
04/23/2012 11:46 PM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
China is one of the biggest buyer of US gold.
 Quoting: Anonymous Coward 5890490


the US does not own gold

it is in a Rothschilds vault in
Switzerland.

well, about 90% of the gold in
the world.
Biochemky

User ID: 919411
United States
04/23/2012 11:51 PM

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Re: China to begin purchasing Iranian oil with gold on June 28th...
India, the second largest importer of Iranian oil (behind China), has been paying in gold for Iranian oil since January 24th of this year.

[link to rt.com]
Anonymous Coward
User ID: 13100401
United States
04/24/2012 12:12 AM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
India, the second largest importer of Iranian oil (behind China), has been paying in gold for Iranian oil since January 24th of this year.

[link to rt.com]
 Quoting: Biochemky


The article was published on Jan,24 but all I'm reading is that negotiations have started.Anyways what happens if India and China do this? Will the dollar crash over night or just cause hyper inflation?
Anonymous Coward
User ID: 5890490
Netherlands
04/24/2012 12:15 AM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
India, the second largest importer of Iranian oil (behind China), has been paying in gold for Iranian oil since January 24th of this year.

[link to rt.com]
 Quoting: Biochemky


The article was published on Jan,24 but all I'm reading is that negotiations have started.Anyways what happens if India and China do this? Will the dollar crash over night or just cause hyper inflation?
 Quoting: Anonymous Coward 13100401


face it, the days of dollar is numbered. It's a matter of how soon
Anonymous Coward
User ID: 2604367
United States
04/24/2012 12:41 AM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
bump

Well deserved
Anonymous Coward
User ID: 5979191
United States
04/24/2012 12:44 AM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
China buys US gold.

Gives gold to Iran.

US seizes gold during war.

A happy circle.
No Dhimmi
Proud Infidel

User ID: 100809
United States
04/24/2012 06:57 AM

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Re: China to begin purchasing Iranian oil with gold on June 28th...
This could be HUGE - as countries find ways to bypass the SWIFT system - if others follow this "barter" method it removes the western banking powers from these transactions. In the past, this has been the real reason for war - so the victor can reinstall control. i.e. Libya
Background of my avatar: [link to en.wikipedia.org]

The religion of submission cannot survive an open and honest discussion of its convoluted and foolish scriptures, its sexually perverted terrorist prophet, or its deceitful and demented god. When Western leaders become unified and resolute in their hostility to Islam's violent and ungodly beginnings, Muslims will flee the religion because they will be horrified by its endorsement of terrorism, mass murder, slave trading, plunder, kidnapping, and rape.

If Muslims & their apologists really want to cure "Islamophobia," here is an easy way. Focus their indignation on Muslims committing violent acts in the name of Islam, not on non-Muslims reporting on those acts.
[link to www.cspipublishing.com]
[link to www.faithfreedom.org]
[link to thereligionofpeace.com]
[link to www.bibleprobe.com]
[link to www.fatherzakaria.net]

Ecclesiastes 10:2 “The heart of the wise inclines to the right, but the heart of the fool to the left.”

We are all born ignorant, but it takes a lot of work to keep looking the other way to remain stupid.

Islam is not a race - the racism rant is lame, used by the intellectually lazy to derail the debate.
Anonymous Coward
User ID: 14405008
Australia
04/24/2012 07:01 AM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
China buys US gold.

Gives gold to Iran.

US seizes gold during war.

A happy circle.
 Quoting: Anonymous Coward 5979191


X2
Anonymous Coward
User ID: 11638379
United States
04/24/2012 07:37 AM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
This is an extremely serious development and a huge nail in the Dollar coffin.

bump
Anonymous Coward
User ID: 14948323
United States
04/24/2012 07:39 AM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
Or is it Tungston?

[link to gold-quote.net]
 Quoting: ThyKpDrgnMeBk


^^^^^^This, send in tiny Tim!
Anonymous Coward
User ID: 14840138
Italy
04/24/2012 07:43 AM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
China buys US gold.

Gives gold to Iran.

US seizes gold during war.

A happy circle.
 Quoting: Anonymous Coward 5979191


X2
 Quoting: Anonymous Coward 14405008


Yes but not as long as Iran has oil, they might dice Iran but doubt will dice China and C, since it will be an important supplier to them :o


The fun will be when China will ask it's payment for US treasury's in Gold so it can buy more oil from Iran and C. tomato
Anonymous Coward
User ID: 5549032
United States
04/24/2012 08:27 AM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
lol, but i guess most are more interested in dandelion mutations

good luck, you're gonna need it
 Quoting: Anonymous Coward 14819038


FED can only control FRNs. I agree with your 2nd post that this is pushing Gold back into being "relevant".
Anonymous Coward
User ID: 9871126
Australia
04/24/2012 08:32 AM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
How much gold is China going to pay for a barrel of oil?

How many barrels of oil does China use each year?

How much gold has China got?

Once China has spent all their gold buying oil, what happens then?
Anonymous Coward
User ID: 1548221
Brazil
04/24/2012 08:32 AM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
June 28th.

7 days after the 30th birthday of Prince William.

One month before the start of the London Olympics...

damned
Anonymous Coward
User ID: 11333543
United States
04/24/2012 10:19 AM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
June 28th.

7 days after the 30th birthday of Prince William.

One month before the start of the London Olympics...

damned
 Quoting: Anonymous Coward 1548221


its great because thatll mean theyll have the world distracted while they pull their little sneaky strings
Anonymous Coward
User ID: 11333543
United States
04/24/2012 10:20 AM
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Re: China to begin purchasing Iranian oil with gold on June 28th...
i wonder how this will play out with silver since theres such a low supply of it

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