Tag Archives: gold

Business/Economics, International

Global Economic War: Iran sitting on huge Gold reserves

“Three new net gold mines with 16 tons of proven reserves have been found in Saqqez city in Kurdistan province!”-Behrouz Borna, Deputy Head of Iran’s Geology Organization for Exploration Affairs

April 11, 2012, Iranian officials announced they found gold in them there hills!

Iran already has several gold mine operations.  The latest finds bring Iran’s estimated gold reserves to 320 metric tons (352.7 tons).

Before the discovery of three more gold mines the U.S. CIA (Central Intelligence Agency) ranked Iran as the 22nd biggest holder of gold (and foreign currencies) in the world.

At the end of 2011, beginning of 2012, Iran set record gold reserves in USD value: $17.5 billion!

Business/Economics, International, U.S.

World War 3 & Government/Economic Incompetence: Iran will stop buying products from Europe and the United States! Working with China and India to trade oil for gold!

“According to one of the main clauses, the Islamic Republic of Iran will halt all oil exports to European countries as long as they continue to ban oil imports from Iran. Another clause obliges the government to forbid imports of all goods from countries which have imposed sanctions on our country.”-Nasser Soudani, Majlis (parliament) Energy Committee

January 28, Iranian lawmakers have finalized a bill that would freeze all oil shipments to Europe.  But the bill would also place an embargo on any products being sold to Iran from countries that have joined the U.S./EU oil embargo against Iran!

This shows the Iranians have realized that the U.S. and EU are not in a good economic position to impose embargoes.  They are taking advantage of that and  will not only stop all oil shipments to oil starved Europe, but with stop buying products from countries who embargo Iranian oil.

The Iranians created a petroleum trade institution that does not use U.S. dollars. It’s very successful, and part of why Iran has become so wealthy.  Not only do they not take U.S. dollars, but they actually accept barter for oil, such as trading raw oil for refined fuel.

Iran has become a major producer of refined fuel in the Middle East.  In fact, in February, 2011, Iran stopped buying refined fuel from other countries!  On January 14, 2012, Iran announced they now make their own jet fuel.

A German political analysts told Russian media that Iran has learned how to succeed under sanctions: “All the present faithful customers to Iran oil are set to continue buying this oil, and they will find a way, rest assured. This is the signal I get from Tehran.  I was personally present when the deputy economics minister of Iran was talking to a foreign society in Berlin, and the gentleman said very openly to the shocked audience ‘OK. You don’t want to buy our goods. Well, the Chinese do.’”-Christoph R. Hörstel

Now Israeli media are reporting that Iran, India, China and several other countries are working on a oil for gold trade deal.  The deal would allow countries to avoid going through U.S. and European banks to buy Iranian petroleum products!

Also, on January 26, Iranian President Mahmoud Ahmadinejad stated: “Today, we have attained a status that we need not sell oil to Europe, and we are following our path determinedly.”

Business/Economics, International

Proof that India’s economy is booming: World’s first Gold plated car

The Indian car maker, Tata, unveiled what it claims is the world’s first Jewelry car.

It has about 80 kg (176 pounds) of 22 karat gold, approximately 15 kg (33 pounds) of silver and 10,000 gemstones.  Gold is about U.S. $1,700 per ounce!  Silver is about U.S. $40.00 per ounce. 16 ounces in one pound.  That means that the little Tata Nano car is worth, in just the value of the gold and silver, $4.8 million!

Business/Economics, International, U.S.

Gold nears $2,000 per ounce in overseas trading, U.S. dollar crashing, caused by fears the Federal Reserve will print billions more in worthless money

In Asian markets, gold went over $1,900 per ounce.  The U.S. dollar continues to fall against most Asian money.

Even in Burma the U.S. dollar hit a ten year low. Nobody wants the worthless money: “Despite the falling price, most of the customers are selling their dollars.”-a foreign exchange dealer in Tamwe Township in Rangoon.

The reason for the exploding gold prices, and crashing U.S. dollar, is because many international market players believe the Federal Reserve Bank will try to stimulate the U.S. economy, by making credit easy, and printing more worthless dollars.

Here’s a little lesson in the concept of value: The more there is of something, the less it’s worth.  So, if a country prints off money like there’s no tomorrow, and that money is already worthless, how do you think the world is going to react?

They’re going to react like they already are; buying gold and dumping U.S. dollars.

The Japanese central banks are trying to stop their yen from rising in value (which hurts their export economy), so they’ve been flooding their markets with cash.  But the U.S. dollar is so worthless that it continues to fall against the yen, which pushes up the value of the yen.

Even the Australian and New Zealand dollars are now worth more than the U.S. dollar.

 

Business/Economics, International, U.S.

Global Economic War: Venezuela to nationalize Gold industry, demands that their gold stored in European & U.S. banks be returned, creating gold back money

“Venezuela is the 13th largest holder of gold in the world. From a financial aspect, I think it is a very shrewd and intelligent move to protect his country’s gold assets.  There is, however, a political overtone in that he wants to pull out the other financial assets that Venezuela has in the U.K., in the U.S., and push it into what he calls ‘more likable allies’, Russia, China and Brazil.”-Adrian Salbuchi

President Hugo Chavez wants all of Venezuela’s gold now held in European and U.S. banks to be returned.

It would be the largest physical movement of gold in recent history.  Some reports say it would involve U.S.$11 billion in gold.

The demand for Venezuela’s gold to be returned, comes after Chavez announced that the government would nationalize all gold mines in Venezuela.

The intent of nationalizing their gold industry is a precursor to creating money backed by gold: “We are going to nationalize gold and turn it into foreign exchange reserves…”-Hugo Chavez

 

 

Business/Economics, Idaho

The U.S. IS a Police State: Gold dealers must go through police background check and be fingerprinted

The city of Nampa, Idaho, now requires people who sell precious metals to go through new “licensing” by getting a background check and be fingerprinted by police.  They must also pay a fee for the cost of the new “licensing” procedure.

Nampa officials say the new process will help police with finding stolen property.  Police will start checking dealers for compliance on July 1.

A Boise newspaper gave this police phone number for more info: 208-468-5615

 

 

Business/Economics

Destroy U.S. Dollar: Iran getting rich off Gold

“Iran’s gold reserves have hit unprecedented levels and the country has supplied its domestic gold market for the next ten years.”-Mahmoud Bahmani, Governor of the Central Bank of Iran

Iran announced that their gold reserves now stand at 4 million tons, and that’s from just one mine.

The Zarshouran mine is located in the West Azarbaijan province. But don’t let the 4 million figure fool you. For every ton of gold ore, they get only 5.81 grams of gold.  I should say ‘only’, hah, when you think about how much gold is selling for it’s still worth the effort.

The mining and extraction systems are being upgraded at the Zarshouran mine, and they hope to get 3,600kg of gold bullion and more than 1200kg of silver bullion.