Tuesday, October 23, 2012

Exclusive: Turkish gold trade booms to Iran, via Dubai

Reuters finally reports that Iran is selling oil to its trading partners and receiving gold as payment, as a means of usurping the economic sanctions imposed by the US.  In doing so, the US is accelerating the demise of the petrodollar as the international trade transactional numeraire. Meanwhile, the sanctions allow Iran to stockpile gold, which is real money, unencumbered by reckless government printing presses worldwide.

This is a classic example of unintended consequences backfiring from misguided foreign policy.  By the way, zero hedge and other blogs (including yours truly) have been reporting about these trades for months.  When will the US media catch on?  Truth be known, investigative journalism is dead, thanks to the over-reaching government propaganda machine.


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