Iran: 907 tons of gold; why don't they just say fuck it, and back the Rial with gold/oil? | |
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Anonymous Coward User ID: 22089462 Netherlands 10/04/2012 06:15 AM Report Abusive Post Report Copyright Violation | Iran "officially" (read: they'd be insane to declare everything they have!!) has 907 tonnes of gold. Quoting: Anonymous Coward 11713342 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 ??????? The debt being covered by gold is 1 thing, having the entire money supply covered by gold is another thing entirely (hence the gross external debt isn't really relevant in this particular discussion). |
Anonymous Coward (OP) User ID: 11713342 United Kingdom 10/04/2012 06:25 AM Report Abusive Post Report Copyright Violation | The debt being covered by gold is 1 thing, having the entire money supply covered by gold is another thing entirely (hence the gross external debt isn't really relevant in this particular discussion). Quoting: Anonymous Coward 22089462 I guess so, but I think it might be possible to come up with a gold/oil mix backing $200 Bn? e.g.: [link to en.wikipedia.org] currency and demand deposits—an aggregate commonly known as M1—were equal to $71.7 billion. In that same year, M2—an aggregate equal to M1 plus savings deposits, small time deposits, and money market mutual funds—was $153.6 billion. According to the CBI, the country's liquidity amounted to some $174 billion by April 2008,[47] $197 billion by October 2009.[48] and over $300 billion in 2011.[49] Estimates put the amount of capital floating in Iran's market at $254 billion in 2012.[50] |
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Anonymous Coward User ID: 24945281 Singapore 10/04/2012 09:05 AM Report Abusive Post Report Copyright Violation | Iran "officially" (read: they'd be insane to declare everything they have!!) has 907 tonnes of gold. Quoting: Anonymous Coward 11713342 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 ??????? Since Gaddafi's gold was not enough to fund the bankster elitiists excesses, this is precisely why they want to get a hand on not just Iran's oil but also it's GOLD |
Anonymous Coward User ID: 16026864 United Kingdom 10/04/2012 09:13 AM Report Abusive Post Report Copyright Violation | Isn't the "what if" where gold is concerned the worry that some might come along and say, ok, I'll have the gold (or oil) instead? During WW1 we (as in Britain) enacted laws to prevent people from changing in their paper money for gold, I would assume given how crappy the world is right now people would rather take the gold/oil than continue to use paper. Just my thoughts, and if I am honest, I really don't fully understand the inner workings of these things.. |
Anonymous Coward User ID: 24821273 United States 10/04/2012 09:37 AM Report Abusive Post Report Copyright Violation | Report: Iran transfers $10 billion to Syria [link to www.ynetnews.com] And the Iranian leader was in NYC just days before. Why dont they take measures to prevent the crisis? Because they are world players. The game is to move Islam into the west by causing regional destabilization. |
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MARTIAL_LAW User ID: 23706139 United States 10/04/2012 10:16 AM Report Abusive Post Report Copyright Violation | That is exactly what Gaddafi was about to do with the dinar - and look what happened to him. Quoting: Anonymous Coward 24811310 this...it's one of the main reasons for the war in Iraq. No one single-handedly messes with the petrodollar...but now it's becoming a full out attack...dollars days are numbered. |