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International News Title: Indian Gold for Iranian Oil By Peter Kirby The revolution will not be televised. This is another story I guarantee you will not see on the evening news. The war of banking systems continues. First, there was a report from a media outlet known as DEBKAfile (debka.com) called ‘India to Pay Gold Instead of Dollars for Iranian Oil. Oil and Gold Markets Stunned.’ I saw it when it first came out in late January of this year, but I didn’t know who these Debka people were; so I didn’t write anything. The DEBKAfile article has since been archived and is available with purchase. Here is a Times of India report about it: A reputed Israeli intelligence website has claimed that India is opting for gold to repay crude oil supplies from Iran. Given the US and EU embargo on Iran, payment in hard currency, such as the US dollar or euro, is very difficult; hence, this barter. The website, Debkafile, said the transaction will be routed through UCO Bank, the Kolkata-based public sector lender. However, when contacted, a senior bank executive said he had not heard of any plans to settle oil payments in gold. A senior finance ministry official said he did not wish to comment on the issue. When reached over the phone, economic affairs secretary R Gopalan, who has been leading the talks with Iran, said he was busy in a meeting and did not respond to a text message. I am writing about this now because I just found this article: “The dispute over Iran’s nuclear programme is nothing more than a convenient excuse for the US to use threats to protect the ‘reserve currency’ status of the dollar,” the newspaper, which calls itself the voice of the Islamic Revolution, said. “Recall that Saddam [Hussein] announced Iraq would no longer accept dollars for oil purchases in November 2000 and the US-Anglo invasion occurred in March 2003,” the Times continued. “Similarly, Iran opened its oil bourse in 2008, so it is a credit to Iranian negotiating ability that the ‘crisis’ has not come to a head long before now.” This latest article references a Tehran Times article which noted, “...the Iranian oil bourse will start trading oil in currencies other than the dollar from March 20.” The latest sanctions, announced yesterday, cut Iran out of the global banking system. There’s tons of news articles about that. This is a big deal, folks. It’s a big deal because it means a big dollar devaluation and also threatens the dollar’s status as the world’s reserve currency. Up to this point, Iran has been selling oil by denominating it in dollars as do all other major oil producing countries. The buying power of the dollar relies heavily upon the fact that it denominates (and therefore dominates) the world’s oil markets. Iran is the world’s third largest oil producer. The loss of dollar hegemony in the oil markets could very well lead to the dollar losing it’s status as the world’s reserve currency. Iran leaving the dollar is a big step in that direction. If the dollar is discontinued as the world’s reserve currency, it will mean American hyperinflation and general economic malaise. For more about what it means to print the world’s reserve currency and what would happen should that privilege be taken away, watch this video: All this is very interesting in the wake of a 2008 UN report which calls for a new global currency to replace the dollar. In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises. It added that the present system, under which the dollar acts as the world’s reserve currency , should be subject to a wholesale reconsideration. This is why the West is sanctioning Iran. This is why the West is threatening Iran. Iran is being punished for a long planned move away from the dollar. This is a war. This is a war between Islamic banking systems and Western banking systems. I’ll have more about that later. Until then, look for the S. to H.T.F. very soon.
Poster Comment: The saber-rattling to attack Iran, is the last gasp of a corrupt government, looking to maintain the dollar as the worlds reserver currency. It won't work. It works for Israel- who are not really threatend by Iran- because they can get the big, dumb U.S. of A. to destroy another hated enemy, who they lack the courage to attack themselves. The dollar's fate is now assured- much like the Denarius, the pound-sterling, and all other fiat currencies. The worst part is that none of this had to be... but the overt greed of the elitist banking families made this outcome inevitable, with the institution of the Federal Reserve and the fraudulent and void 16th Amendment. NOTHING will stop the collapse of the dollar, at this point. Pity.
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