Turkish Gold Sales to Iran Soar as Sanctions Bite into US Dollar's Role as Reserve CurrencySubmitted by Charleston Voice on Sat, 05/19/2012 - 22:02
Posted by Charleston Voice, 05.19.12
This is evidence that the US attacks on Iran's monetary system are backfiring. Iran's actions may hasten the world to gold & flight from the dollar's reserve currency role.
US Attacks on Iran's Monetary System Take Hold - an Act of War by the US by any measure!
The US Plan To Collapse Iran's Central Bank
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Thu, May 17 2012
* Turkey's gold exports to Iran at nine tonnes in March
* Exports of $480 million highest since records from 2010
* Iranians turn to gold for trade and savings
By Behiye Taner
ISTANBUL, May 17 (Reuters) - Turkish gold sales to Iran in March soared over 30 times and gold companies said Iranians were turning to gold for savings and possibly trade as Western sanctions tighten.
Sanctions to force Iran to curb its nuclear programme have targeted its energy and banking sectors and new measures from both the United States and European Union take effect in July, aimed at strangling Tehran's foreign earnings.
The sanctions have made neighbouring Turkey an ever more important channel for the Islamic republic...