Iran: Why not back your Currency with Your GOLD / Your OIL ?Submitted by goldenequity on Thu, 10/04/2012 - 06:57
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?
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)