http://www.iranwpd.com/index.php?option=com_k2&view=item&id=2974:india-to-pay-gold-for-iran-oil-china-may-follow&Itemid=66

India to pay gold for Iran oil, China may follow

Jan 24 -India has reportedly agreed to pay Tehran in gold for the oil it buys, in a move aimed at protecting Delhi from US-sanctions targeting countries who trade with Iran.

China, another buyer of Iranian oil, may follow Delhis lead.

The report, by the Israeli-based news website DEBKAfile, states that Iran and India are negotiating backup alternatives with China and Russia, should the US and EU find a way to block the gold payment mechanism.

India and China take about one million barrels per day, or 40 percent of Iran's total exports of 2.5 million bpd. Both are superpowers in terms of gold assets, Russia Today reported./-



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Krinvanto Vishwam Aryam
(Make this World Noble)

- Rigveda


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Gold will do just fine,thanks hendustan.

http://images.sodahead.com/polls/002290949/2019501609_75378_TrollFace_answer_1_small.pngYou mad?

This will further drive up the price of gold, and lower the value of the greenback..



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Both China and Indian gov don't have too many gold reserves.

But I bet China will find ways to do business with Iran by setting up state-owned, independent companies that only target business in Iran.

US recently sanctioned one Chinese company that sold refined gas and other things to Iran. Who cares!

This is good for everyone! We can't just keep printing money every time a mistake is made by the big boys. We can't just keep printing money and whiping out people who put 2 cents here 2 centes there and people save a little money for the rainy day.

Innocent honest people working hard saving pennies so that they become dollars. And one day the big boy comes and prints some more money. The little innocent people after saving 2 cents at a time for an entire lifetime, they die with two cents in their pockets.

What Happened to Justice?


Regards,