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Socio-Economics & History Commentary

Obama Likely To Approve Gold Sanctions on Iran As Currency Wars Escalate!

  • This move by Obama is to protect the global monetary hegemony of the western Illuminati. Iran by selling oil in gold is quite obviously threatening the petrodollar hegemony. America and its allies are waging war against Iran. Make no mistake about it. Economic war is just as potent as military war, if not more so! The aggressor is not Iran, it is the western powers! The Anglo-American-Zionist west is step by step provoking Iran into a ‘hot’ war! They are attempting to light the Syrian fuse which will ignite the Satanic World War 3, Greater Middle East war!
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    Obama Likely To Approve Gold Sanctions on Iran As Currency Wars Escalate! 
    by GOLDCORE, via http://www.goldseek.com/ 
    …Turkey’s trade balance may turn on whether President Barack Obama vetoes more stringent sanctions against Iran after the U.S. Senate passed a measure targeting loopholes in gold exports to the Islamic Republic.
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    Turkey’s gold trade with neighbouring Iran has helped shrink its trade deficit over the past year according to Bloomberg. Incredibly, precious metals accounted for about half of the almost $21 billion decline. That’s calmed investor concern over its current-account gap, and helped persuade Fitch Ratings to give Turkey its first investment-grade rating since 1994.
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    The U.S. Senate voted 94-0 on Nov. 30 to approve new sanctions against Iran, closing gaps from previous measures, including trade in precious metals. Obama, who opposes the move on the grounds it may undercut existing efforts to rein in the nation’s nuclear ambitions, signed an executive order in July restricting gold payments to Iranian state institutions.
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    Turkey exported $11.9 billion of gold in the first 10 months of the year, according to the Ankara-based statistics agency’s website. A very large 85% of the shipments went to Iran and the United Arab Emirates.
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    Iran is buying the gold with payments Turkey makes for natural gas it purchases in liras, Turkish Deputy Prime Minister Ali Babacan told a parliamentary committee in Ankara on Nov. 23. Iran provides Turkey with between 21% and 25% of its gas, data from the Energy Market Regulatory Authority and Energy Minister Taner Yildiz showed.
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    The current-account deficit may fall to $57.3 billion by year-end, according to a bi-weekly survey of economists by the central bank published on Dec. 6. That compares with $77.1 billion last year, when Turkey had the second-biggest deficit in the world, behind the U.S.
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    The Turkey Iran gold for energy trade shows the benefits of gold. While not a productive asset, it can create much employment, preserve wealth and has important monetary uses – especially in times of crisis.
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    Gold is becoming an essential means of payment again in the Middle East again. We expect to see this trend continue in the coming months as competitive currency devaluations are pursued by nations globally in order to prevent deep recessions and depression.
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    In time other large energy exporters such as Russia and Venezuela may take payment for their oil exports in gold. Those continuing to simplistically call gold “a bubble” have yet to realise how gold is becoming money again.
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    As doubts grow about the euro, the dollar, the pound and fiat currencies internationally we expect currency devaluations and currency and gold wars to intensify. Gold is going from a fringe investment asset to a mainstream store of wealth held by prudent individuals, institutions, banks and nations.

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December 13, 2012 - Posted by | GeoPolitics | , , , , , , , , , , , ,

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