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Sanctions dodge: India to pay gold for Iran oil, China may follow

Temporal

Temporal

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Sanctions dodge: India to pay gold for Iran oil, China may follow — RT

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 Delhi’s 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.
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Looks like not all of the major players are on board with EU/U.S. sanctions, which tells you a lot about the way U.S. political motivations are continuing to fail at translating to the global arena.

I think it's a good thing that some countries are ignoring the calls of the usual war hawks. Iran is only a threat because they won't bend over, let us build our pipelines through their territory, and give up their sovereignty to us in the process.
 
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Temporal said:
Sanctions dodge: India to pay gold for Iran oil, China may follow — RT



Looks like not all of the major players are on board with EU/U.S. sanctions, which tells you a lot about the way U.S. political motivations are continuing to fail at translating to the global arena.

I think it's a good thing that some countries are ignoring the calls of the usual war hawks. Iran is only a threat because they won't bend over, let us build our pipelines through their territory, and give up their sovereignty to us in the process.
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Countries around the world need USA dollars because by agreement with OPEC (Saudi Arabia) all oil sales are conducted using USA dollars because it has been the world reserve currency and because we provide a military umbrella for Saudi Arabia. This also creates huge worldwide demand for USA dollars that, like any other supply and demand, keeps the value of the USA dollar up. Anything that reduces USA dollar demand, ie, paying with gold, is frowned upon by USA. Saddam traded his OIL in Euros, if that sends a message. AQ Khan, the Pakistani scientist who black marketed nuke info all over the world is not even in jail and we are worrying about Iran getting nukes. Keerist, who has Iran attacked? Does Iran feel threatened?
This is an embargo that could have serious backlash if gold becomes the popular reserve currency.
 
DaveFagan said:
Countries around the world need USA dollars because by agreement with OPEC (Saudi Arabia) all oil sales are conducted using USA dollars because it has been the world reserve currency and because we provide a military umbrella for Saudi Arabia. This also creates huge worldwide demand for USA dollars that, like any other supply and demand, keeps the value of the USA dollar up. Anything that reduces USA dollar demand, ie, paying with gold, is frowned upon by USA. Saddam traded his OIL in Euros, if that sends a message. AQ Khan, the Pakistani scientist who black marketed nuke info all over the world is not even in jail and we are worrying about Iran getting nukes. Keerist, who has Iran attacked? Does Iran feel threatened?
This is an embargo that could have serious backlash if gold becomes the popular reserve currency.
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Does Iran feel threatened? The most powerful nation on the planet constantly talks about invading them. I'd say they feel threatened! They also see that no country with nuclear weapons has been invaded, like, ever. Of course they're trying to get them.
 
Wait! You mean all that diplomacy and those sanctions aren't working??
 
apdst said:
Wait! You mean all that diplomacy and those sanctions aren't working??
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Iran has a product. Other countries want it. Capitalism finds a way.
 
But...but...but...Diplomacy! Sanctions! That's going to fix everything!! So, a military response is 100% un-necessary!!!!!!!
 
apdst said:
But...but...but...Diplomacy! Sanctions! That's going to fix everything!! So, a military response is 100% un-necessary!!!!!!!
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You have entirely missed the point. Despite U.S. bullying and threats to the contrary, there are other nations in this world who correctly realize that dependence on free trade is the most effective means of limiting war and strife. These nations are essentially thumbing their nose at the U.S. and telling them to mind their own business.

What is important, which I do not think anyone has really touched on yet, is that if India, China, and Russia all decide to do business in gold it will greatly accelerate the demise of the U.S. Dollar. The primary footstool for the dollar's continued strength is its status as petrodollar. Remove this and you eliminate a great portion of its value. I smell bad news for the U.S. in the near future.
 
Uh oh. Someone is making profit and not letting America in. Rev the war engines.
 
dirtpoorchris said:
Uh oh. Someone is making profit and not letting America in. Rev the war engines.
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I would adjust that to say "not letting US Multinational Corporations in." That would be energy corporations and if they can cause wars to get energy in their distribution networks they will. Think Iraq and Libya. At the same time, wars run on energy, so big energy profits in more ways than one. Wars are very profitable, don't you think? Think Exxon/Mobil, BP, Shell, Total, etc., etc., etc.
 
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