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

Yeah, when you're wheeling a wheelbarrow full of money down the street to buy milk and cookies.

LOL!!!

m2 look that up1

m2 look that up1

[link to research.stlouisfed.org]

Gold will crash before autumn sets in. Fact

M2 velocity is contracting just the same
[link to research.stlouisfed.org]
Um and your point is what?

A bunch of gold-tards, the lot of you!

Very possible

OK, I've done some basic figuring and here is what i have figured out.


Iran imports on average 557,000 barrels a day from China. That equals about 203,305,000 barrels a year.

At the current rate of $98.59 that is about $20,043,839,950 a year in US Dollars. crude figures but in the ballpark.

ok at $1636.00 an oz that come to about 12,251,735 oz a year.

China produces about 9,700,000 oz worth of gold a year,

M2 not m2 velocity is a straight up line on the graph, obviously the velocity is an infered stat like USDOL unemployment numbers!

to sum it up, China will have to import Gold to import Oil.

so I should short gold because the dollar will somehow become more valuable over the summer? Yah right!

to sum it up, China will have to import Gold to import Oil.

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

Sure, that's how they convert fiat paper dollar to gold. when they buy gold from the US, US is collecting the fiat paper it printed out of thin air then give China gold in exchange, someone please tell me that's a good deal for the US (we can't give tungsten forever can we )

Sure, that's how they convert fiat paper dollar to gold. when they buy gold from the US, US is collecting the fiat paper it printed out of thin air then give China gold in exchange, someone please tell me that's a good deal for the US (we can't give tungsten forever can we )

The point is bills are due in USD's. Fail to pay the bill with USD's, and kiss everything you think you own goodbye. Sorry but there are not many paper dollars left out there, plenty of bills though! LOL

That would be a good deal for the US, but that's not what's going on. China is carefully guarding the USD reserves it has left. Once the debt liquidation phase kicks in full force, they'll start collecting US assets.

Deflationists...... ahhh Ben is not your friend! There will be no deflation with Ben in the helicopter... Go to your grocery store and see how that deflation is working for ya...

"They are desperate..."


They are spending gold for oil because they are getting it at bargain prices from the morons in the West due to manipulation in the futures markets and the selling of Greece's/Libya's/IMF's/etc. gold into the market to further control price.

This is the same manipulation that the Fed is perpetrating to try and maintain dollar legitimacy and attempt to control the ascent of gold price (actually devaluation of paper currencies).

The Chinese have been divesting their holding of dollars and US Treasuries continually for years now to facilitate this. They could bring down the U.S. economy tomorrow but that would only leave them holding trillions in worthless paper, they'd rather game the system, get out slowly so as to avoid a panic/collapse scenario. The Chinese are not "dumping" gold. They are the world's largest gold producer, are buying hundreds of tons annually (officially, probably more clandestinely) and they are not selling an ounce to the rest of the world.

Good !That's when China can pay a 250% fee on every transaction made in trade to America for any imports ! PROBLEM SOLVED !!!!!!

I don't know if the OP is correct, but China does have it's own gold futures market open and functioning. No reason why they can't use their own spot price.