4 votes

Iran: Why not back your Currency with Your GOLD / Your OIL ?

Seems like an opportunity is at their door.
The first 'hard' currency in new world?

They have been kicked out of SWIFT...
they are at WAR with the Global cartel anyway...
boycotted on every front.
They created their own oil bourse...

Seems they have a 'golden' opportunity to establish a gold backed rial.
the first and ONLY currency in the world NOT fiat
It would draw capital/relief immediately (one would think).

What have they got to lose?

907 tons

That's 3x more than the UK (Cheers, Gordon Brown).
at todays gold price of $1780/ Oz:
1780*32.1 Oz/kilo = $57,000 per kilo
1000 kilos in a tonne.
$57,000,000 per tonne.
57m * 907 = $51.7 bn

So, why not back the currency with gold? (or oil)

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Gold-Backed = Paper

Coin only!

Good point

If you don't hold it you don't own it. So what if it is "backed" when they still hold it and all you have is paper? Would still be better than what we have now though, paper backed by nothing.

Yes, it is always essential

Yes, it is always essential to get back cash for the unused gold.

Have You Read Confessions Of An Economic Hitman?

It would almost certainly guarantee death for Ahmadinejad (though we're clearly pushing for regime change right now so that's highly likely anyway). Did you see this from EPJ by the way? Apparently our CIA might be printing up Rial to cause their economy to crash. Hillary yesterday said that the blame for the inflation is on the Iranian government. Seems like standard economic hitman mischief.


Literal death, in fact.

Part of me wants to cheer on the notion, but risk gives one pause. Moammar Qadafi wanted to help create a pan-African gold standard, so of course the Fe'ral Reserve (and their wholly owned subsidiary FedGov) had him whacked.

Mahmoud, beware the wrath of Doctor Bernankenstein!

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West of 89
a novel of another america

A Thousand Militias

Ahmadinejad can defeat the CIA if he deputizes a thousand militia commanders - each one with the authority to coin gold and silver.