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Iran will be barred from accepting gold as payment for oil

"In return, Iran will be able to repatriate $4.2 billion in frozen assets, the Obama administration said. The accord will “suspend certain sanctions on gold and precious metals, Iran’s auto sector and Iran’s petrochemical exports, potentially providing Iran approximately $1.5 billion in revenue,” the administration said.
The accord also provides $400 million in tuition payments to schools for Iranian students studying abroad, and will allow access to civilian aircraft parts.
Some curbs on gold trading also will be removed. While Iran will be allowed to buy and sell precious metals, including gold, it will be barred from accepting them as payment for oil or any other sanctioned transaction, according to the officials. Iran sits on the world’s fourth-largest proven oil reserves."


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This agreement is not about limits on nuclear power

This entire agreement between the U.S. and Iran is about circumvention of the petrodollar via gold and not about limits on nuclear power. The US recognized the stupidity of sanctions against Iran and how it only encouraged one of the largest oil producing counties in the world to find alternatives to the dollar.

This is unbelievable. It's THEIR OIL!!!

They should be able to accept sea shells for it if they'd like.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

Bitcoins or Litecoins in Iran?

I wonder if Iranians ever started using bitcoins? It would be perfect for them. At least when it was affordable but now they could use litecoins. It's a way around the world monetary scheme, which would seem to be perfect for countries like Iran.

It's always about the

It's always about the petrodollar. It would do a number on the US economy if oil rich countries sold oil in anything other than FRN's. Always remember this.

FYI...why are gas prices so low? Anyone?

Gas prices are low for one reason


Perception for the midterms. Low gas means everything is great to the low information voter. It means socialism does work - Obama is right. Look - gas in now under $3 dollars a gallon. See - we just needed time - and if only the Tea Party had not slowed us down you would have seen this years ago. Give us more time and more socialism and just hold on to your hats people.

Just my opinion. But I would bet gas is below $3 before midterms and about two weeks after the dems take control of the house and senate(not opinion - that part is fact) you will see gas rocket over $5 a gallon.

Not sure Gasoline price in gold


WTI Crude Oil in Gold grams per Barrel

Free includes debt-free!

Is gold down? Why is gold

Is gold down? Why is gold down then? How are the two related?

The Dollar rallies against gold.


Banks have 2 Trillion of excess reserves to cover their speculations.

The government borrows 7.4% new money into existence every year for 99 years.

Free includes debt-free!

But what about the gas

But what about the gas prices. I'm sorry, I don't have much of an understanding of how oil and gold are connected.

The long term charts show the historical connection.

The currency is factored from the equation.

The price of gas in gold is cheaper than it was 30 years ago.

Demand drives spot prices, lower prices set to increase demand.

I like to look back and see how much gold I spent to drive to college in 1972.

A weight of Gold has been used as money for 5,000 years. I have found it a useful measure over time.

The Pawn Shop bought 1800s Colt Revolver that originally sold for and ounce of gold. How many of today's dollar did they pay the seller?

I don't remember. Doh.

Free includes debt-free!

What does it matter, they can

What does it matter, they can take their FRN's and buy gold with it if they want it.

Sure they can - but that then solidifies the dollar even more

the more it is traded - the more demand it has.

So now instead of a direct trade for gold - there are two trades for dollars - one for the oil, then one for the gold.
And now whoever they buy the gold from is indebted to the dollar as well since they now have a boat load of it. (And let's not forget - those trades have costs associated with them. And who profits from the trades? I would guess large global banks.)

Who would they buy gold from? Let's say they want gold from Venezuela - not exactly our best friend. They go to Venezuela and say - hey we want to buy a few tons of gold. Venezuela says sure - we have some to sell - how will you be paying.
US Dollars. Well we don't like US dollars. Well, that's all we have because we have to sell our oil in dollars. Ok we will take the dollars.

Now what happens if China says - we want to knock the dollar of as the reserve currency. Venezuela says - hell no - we have a ton of dollars we got from Iran. If you knock the dollar off - it will become useless - our balance sheet will tilt over and we will go bankrupt and then we cant sell crap anywhere. Plus - we signed a long term contract with them - which means they will be paying us for valuable gold in useless dollars for the next 18 months.

You have to keep them all vested in the dollar. And you do that by making them trade in the dollar.

This is how it matters

Every barrel of oil that comes out of the ground from the OPEC countries is paid for in dollars FIRST, at the well head. No dollars no oil purchases. That creates the demand and usefulness for the dollar, it's a pseudo backing for the US dollar. In exchange for that agreement with OPEC, the US agreed to defend the OPEC countries (see gulf war) and provide protection by the US navy for the open trade access through the oceans. The OPEC nations may be rich but they can't defend themselves nor protect their oil transports from rogue nations or pirates. It's the old protection racket on a world wide scale. Nixon and Kissinger came up with the scheme after OPEC tried to create an oil cartel monopoly, they just made OPEC "an offer they couldn't refuse". They don't refer to him as tricky Dick for nothing. LOL

It's all about the petro

It's all about the petro dollar.

It matters because...

because It's not about Iran buying Gold.

It's about THE US DOLLAR maintaining the Reserve Currency status through oil transactions. And that is done through forcing Mid Eastern countries to transact their oil in dollars.

That's why the US provides security in that area to the OPEC States.

Love Liberty, be Vigilant

"Now the Lord is that Spirit: and where the Spirit of the Lord is, there is liberty" (2 Corinthians 3:17)

Faith in God will prevail all things!

sounds like a Petro dollar issue here

The United States has clearly drawn the line in preventing Iran from accepting gold as the transactional option for their oil. Clearly to maintain the dollars status as the reserve currency requiring all transactions to be made in dollars maintaining the power of the dollar as the primary Reserve currency around the world

this is the primary reason the US military has been intervening in the Middle East. To continue to force the transactions of oil in dollars and preventing other currencies or other types of payment from becoming the primary transaction Method for oil.

Oil is what backs the dollar...that's the truth

Love Liberty, be Vigilant

"Now the Lord is that Spirit: and where the Spirit of the Lord is, there is liberty" (2 Corinthians 3:17)

Faith in God will prevail all things!

Bingo! Not sure how this is


Not sure how this is related but notice the low gas prices lately? Any ideas why?



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The question that has to be

The question that has to be asked here is what this has anything to do with their nuclear program? Thats mostly a rhetorical question.

To climb the mountain, you must believe you can.

It is evident that the nuclear program is not the real issue

IMHO it's the petrodollar that they are trying to protect and this agreement proves it.

then you gotta ask, with all

then you gotta ask, with all these wars in oil based nations,.... does the petroldollar have blood on its hands, have the wars been started over nothing more then to keep the western worlds standings. that they may have treated the public like fools and fucking lied about the "spread of democracy", that in actual fact, lives were murdered over greed, profit and power

I tell ya, if this is true, if they play with our lives like this, they're making a terrible case for getting, rid, of the death penalty,.....maybe just once, to clear the stink

I find it interesting

that you pose it as a question,

"does the petroldollar have blood on its hands, have the wars been started over nothing more then to keep the western worlds standings"

To me, sfter looking at the evidence of what has actually been taking place in the world, everything you said is pretty much self evident.

Yes these wars are all about power and control, and center of power sits with those who control the money that people use daily.

IT IS CRITICAL for the US dollar (being the current global currency) to have a monopoly over international trade. It is the entire point of the petrodollar, global control!

Also if the US dollar crashes, which it will, they will try to transition us (The World) over to another global currency, one that has even less limitations than the current "dollars", one free from those pesky freedom loving people trying to reign in US spending, war, and all round brutal dominance. THEY need a crisis, they need to control that crisis, so they can bring about a "Peace" Force to "Help" the entire world, "Transition" (ie BE FORCED) into a new age, a New world order, A new world where everything is "peachy", just as long as those in power get to stay in power.

i tend to pose my beliefs in

i tend to pose my beliefs in such a way, as to stay impartial, not for anyone but myself, yes this is what i BELIEVE to be the case based on what i see, but i wont stop insisting for evidence, hence the form i state my beliefs, a cry for someone to produce the evidence, that even the most loyaly government converts would find hard to justify.......and i pretty much agree with you

I couldn't agree more!

Very pragmatic, We can never truly know the "truth" anyway.

Plus, people are always more responsive if you ask them a question, rather than lecture them. Answers through questions. I have to teach myself to do that more.


it matches up nicely with this recent DP Post:


The nuclear program

The nuclear program is just a "mcguffin", the west knows full well that this is not new technology and it cannot control its spread indefinitely. The whole fuss about their nuclear program was a propaganda ploy for domestic political purposes only.


Already been said but the "Iran has nukes" line has been total BS since they started saying it in the 70s. It's all about the dollar. They invaded Hussein for the same reason.

Simple Facts and Plain Arguments
A common sense take on politics and current events.


that doesn't sound very sovreign

sounds like Iran just sold out to a nwo.. let the revolution begin!

SteveMT's picture

That "barbarous relic" that everyone craves to possess.

Iran is smart. They will obtain dollars for their oil, and they will turnaround and buy gold with those dollars. Nothing wrong with that.

Something wrong with that.

The agreement keeps the US dollar (or the petrodollar) enshrined as the reserve currency of the world. How nice for the banksters who issue the stuff, at interest.

Many nations are now moving away from transacting trade in US dollars and are using their own national currencies and precious metals instead. This treaty is trying to prevent Iran from making such arrangements. When oil starts to be traded in other currencies, international demand for the US dollar will fall off a cliff. Next stop, hyperinflation as foreign dollar-holders scramble to spend the Fed's biodegradable buttwipe before it reaches its intrinsic value.

Recommended reading: The Most Dangerous Superstition by Larken Rose