Wednesday, October 24, 2012

Iran's New Oil-Gold Triangle Trade

In recent months there has been a lot of incorrect speculation that because Iran has been shut off from the petrodollar, SWIFT mediated regime, its economy will implode as the country has no access to the all important greenback and can thus not conduct international trade, the driving factor behind the international sanctions that seek to topple the local government as Iran dies an economic death.

And while there have been bouts of substantial inflation, which so far the local government appears to have managed to put a lid on by curbing gray market speculation, Iran continues to more or less operate on its merry ways with international trade most certainly taking place, especially with China, Russia and India as main trading partners.

"How is this possible" those who support the Western led embargo of all Iranian trade will ask? Simple, gold. Because while Iran may have no access to dollars, it has ample access to gold. This in itself is not new, we have reported in the pastthat Iran has imported substantial amounts of gold from Turkey, despite the Turkish government's stern denials.

Today, courtesy of Reuters, we learn precisely what the 21st century equivalent of the Great Silk Road looks like, and just how effective Iran has been as a lab rat in escaping the great petrodollar experiment, from which conventional wisdom tells us there is no escape.

Presenting "Petrogold".....Read the entire article "Iran's New Oil-Gold Triangle Trade "

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