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You Can't Eat Gold? Syrian Crisis – GOLD Buys Food, Fuel, Medicines In Economic Collapse

 
Oiled In Florida
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08/14/2012 10:58 AM

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You Can't Eat Gold? Syrian Crisis – GOLD Buys Food, Fuel, Medicines In Economic Collapse
"On Sunday, al-Assad issued Legislative Decree No. 53 "on exempting crude gold imports from the importation fees and the domestic costs according to the Law No. 35 for the year 2007".

Gold bullion imports no longer require a special permit and travelers are allowed to bring gold bullion coins and bars with them into the country, the decree said.

The move is a sign of desperation due to the immense economic difficulties facing Syria as its economy is being suffocated through economic sanctions and the civil war.

Like Syria’s economy as a whole, its banking industry is severely damaged and some parts of it are close to stopping functioning.

Professor Nouriel Roubini and other financial experts have pointed out that “you cannot eat gold.”

However, people in nations suffering from currency and economic wars can testify as to how they can use gold in order to buy food, fuel and medicine for their families in difficult times.

Gold is, as it has done throughout history, protecting them and their families from the ravages of currency devaluation and economic collapse."


[link to www.goldcore.com]



True, you cannot eat gold. But you cannot barter for fuel or food with paper notes that have lost their value of exchange. In times of economic collapse, as Syria is now facing, gold becomes the value of exchange and barter.

Last Edited by Oiled In Florida on 08/14/2012 11:37 AM
Tigershield

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08/14/2012 11:00 AM

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Re: You Can't Eat Gold? Syrian Crisis – GOLD Buys Food, Fuel, Medicines In Economic Collapse
So this Chinese gold farmers thing is real. Gold is becoming the new value.
Oiled In Florida (OP)

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08/14/2012 11:07 AM

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Re: You Can't Eat Gold? Syrian Crisis – GOLD Buys Food, Fuel, Medicines In Economic Collapse
"In most of the country, banks have barely managed to stay open but the spread of major fighting to Damascus last month, and now to Aleppo, Syria’s biggest city and top commercial centre, marks a new, more destructive period for the economy, putting banks under fresh pressure.

As was seen in Iraq, it is the people who suffer most from sanctions and economic and civil war and the Syrian people are indeed facing increasing hardships.

Hunger is a problem that is growing more acute by the day. As the prices of what little food is available soar, there are increasing signs of desperation among parents seeking to feed families.

Prices of fuel and medicine have also soared amid shortages compounding the misery of Syrians and leading to another humanitarian crisis."


[link to www.zerohedge.com]

Gold is how they are feeding their families. There are no US Dollars or Euros feeding them. Who says you can't eat gold.
Oiled In Florida (OP)

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08/14/2012 11:31 AM

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Re: You Can't Eat Gold? Syrian Crisis – GOLD Buys Food, Fuel, Medicines In Economic Collapse
So this Chinese gold farmers thing is real. Gold is becoming the new value.
 Quoting: Tigershield

If we look at history, every currency of exchange that was no longer backed by gold collapsed. The result has always been to then revert to whatever medium of exchange had gold value behind it, as well as gold itself. Is it any wonder why Syria is so desperate for gold right now?
Anonymous Coward
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08/14/2012 11:46 AM
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Re: You Can't Eat Gold? Syrian Crisis – GOLD Buys Food, Fuel, Medicines In Economic Collapse
cant eat dollars either

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