IRAN QUIETLY MOVING TOWARD GOLD STANDARD

(FROM GOLD SILVER.COM & NEW YORK TIMES)

http://goldsilver.com/news/iran-stockpiles-millions-in-silver/?utm_medium=email&utm_campaign=Gold++Silver+Weekly+-+11+-+20+-+2012&utm_content=Gold++Silver+Weekly+-+11+-+20+-+2012+Version+B+CID_9657deeceaed195d297d508dc68991ab&utm_source=GoldSilver%20Email%20Marketing&utm_term=Iran%20Stockpiles%20Millions%20in%20Silver 

In August alone, $2-billion worth of gold was shipped to Dubai on behalf of Iranian buyers, according to Turkish trade documents. Now, we've received news from London indicating that Iranians have purchased at least $10 million worth of silver this year as well.

 

In September, an additional $1.4 billion worth in gold and silver was carried in simple luggage bags from Turkey to Iran, UAE and Middle East.

Iran is doing this to avoid strict Western sanctions in preparation for whatever emergency situation may ensue as we inch closer to the Fiscal Cliff with each passing day.

Published: October 16, 2012

http://www.nytimes.com/2012/10/17/world/middleeast/irans-supply-of-currency-may-be-at-risk-in-sanctions.html

 

Iran Sanctions May Cut Supply of Currency

Western economic sanctions imposed on Iran over its disputed nuclear program have severely depressed the value of its national currency, the rial, causing higher inflation and forcing Iranians to carry ever-fatter wads of bank notes to buy everyday items. But the sanctions have also presented a new complication to Iran’s banking authorities: they may not be able to print enough money.