India buys Oil from Iran using Gold. Start of a trend?

[Tomta20012]

her last words were a dire warning to the every ! watch out

[11RisingPhoenix]

1 dislike? Who let a US Republican inside?!

[donniebrasco24]

time to buy some soon to be silver backed Mexican pesos...

[anilchauisms]

Two days back, I mentioned that this news was not available in mainstream Indian media. However, today, The Times of India, one of India's leading daily, has carried it as its main headline on its front page.

[dominicjan]

thankx stella, best piece of info as for today

[TheUltraNinja]

This might be an opportunity to sell some gold if it goes up!!! Then buy back after they have worked it all out. Then again gold may not fall back down! Maybe just hold, but then again I guess it depends on each individuals personal reasons for having gold, as to what one would do.

[ChrisPCrunchy]

@TheUltraNinja Yes great time to invest in those freshly printed US$. Get in quick before they reach their true value WORTHLESS!

[TheSchaefReport]

This is just anothe step toward war btw Iran and the US, IMO.

[ChrisPCrunchy]

Burn US dollars and not oil and see how far that gets you down the road in your car. Gold has real value, Oil is really usefull and the US Dollar when burnt realises it's true value.

The US cannot declare war on Iran, India and China as well as the many illegal wars it is in at present. This criminal rogue state is nearing it's end at last and so is it's criminal manipulation of Gold Silver Oil and the truth.

[nayanmalig]

Can somebody confirm this. It's highly unlike India will part with gold for a commodity that will be burned. Unless it's part gold & part goods swapped by both sides. Time to time. There's something hidden in this story & it's not very clear.

[gjnztraders]

USA, Euro and England try Sanction that bitches. What you call good blowback.

[NovusChaoMundi]

Russia is right the world needs every drop or were all fucked

[Anvilsplit]

Iraq, Libya, and pretty soon Iran. We have to replace the bars in Fort Knox SOMEHOW . . .

[cnxtrans]

India will need a lot of Gold to buy that Oil...

[cnxtrans]

@cnxtrans 12 billions USD a year on Iranian oil? That's about 200 tons of gold per year, that ain't going to happen...

[ChrisPCrunchy]

@cnxtrans It's a win win for India and Iran. The US has to supress the value of Gold to stop it replacing the US$ as the reserve currency. So every nation that trades Oil or other commodities with Gold are going to be subsidised in each and every trade by the US, at least until they collapse. We are witnessing the end of the most corrupt nation on earth, pitty most of its people are good and honest, but that is the price of electing criminals time after time.

[MrHydrogenpower]

@ChrisPCrunchy Aussies elect criminals every election too, so whens our day of reckoning?

[cnxtrans]

@ChrisPCrunchy Yes, I agree it would bad for the US dollar. However, 200 tons of gold is nearly half India' Gold reserves, that's a lot of Gold. That would be very bullish for Gold, but I don't see the price moving on that news, and I can't see the news reported on Indian media either (for now).

[ChrisPCrunchy]

@cnxtrans India bought that gold at bargain low prices and I'm sure that during a sanction they would be buying oil at bargain low prices as well, smart deal I would say. You can expect the presstitute media to keep this hushed up as much as possible.

[kdcruz75]

@ChrisPCrunchy

but those so called good and freindly people are living under an illusion ..they can afford to be nice because their currency has been prompt up by exporting debt andn bloodshed abroad..

they get their govt to fight wars ..they eventually have to pay for it..no free lunch..

they are honest within their invented paradigm ..you reveal to them the nature of their debt system ..even a good church going christian turns nasty..i've observed it myself

[ChrisPCrunchy]

@kdcruz75 Guess it's easy to be good and honest when you elect criminals to defraud, kill and steal from your fellow global citizens on your behalf. There is no escape and in the end there is a price to pay. The US government is now turning into a police state and it's people are losing all their civil liberties with their constitution being ignored completely. Did you know that Dunkin Donuts are doubling their number of locations in anticipation of the growing police state. True story.

[kdcruz75]

@ChrisPCrunchy

dunkin donuts for dunking debt onto the populace...a sugar fix for the depression the americans are gonna face

[Tigerpaws9097826]

@ChrisPCrunchy Heh - I thought that comment about Dunkin' Donuts was either a joke or an urban legend, but checked it out and it's actually so! Not so funny is the trend you've pointed out regarding our government (not without, IMHO, a degree of complicity from private and personal interests). I hope worst does not come to worst, but the risk looks greater all the time.

[wakeupsheople]

You get more real news from Russia than the US.

[shaurz]

Iran doesn't need the US or Europe as customers. Plenty of Asian countries willing to buy their oil.

[lindabebe835]

u.s. is screwed. good bye u.s. dollar.

[PairoftheSocks]

Lets go to war again guys! WOO HOO GET THEM DAMN MUSLIMS! Oh wait, people in india are not muslims? Were going to spin it as Hindu jihadists now

[sidkings]

This is real trade. Exchanging something of value for something with value. Gold for Oil. This model of bartering has been done since the begining of time. The current economic model of a debt based system, fiat currency is dying in fron of our eyes.

[rjthomas23]

Thats great - another excuse for the west to condemn gold as money.

[JesusDillinger]

Okay, here's the plan: Reduce Federal Reserve funny money to its true value, zero, then turn the board of governors, JPMC execs, and the Rothschild family over to a murderous mob.

[ssskkkaaa]

This has been going on since 1971, the dollar supremacy over oil...about time it stops, if china and India get involved...then bye bye US supremacy and welcome to normal adding standards...about time fo them!

[campeona5]

Silver is Gold and Oil combined! Keep those beny bucks benanke, we'll save and trade the 'money' you cannot print (issue through debt) out of thin air.

[grimygrime]

Got gold?

[viwinner]

@grimygrime yes thx

[ttboy1076]

buckle up folks...2012 should be a blast...literally

[drutter]

I guess the USA will have to bomb and invade Iran, China, and India now.

Or, realize they can't continue to threaten their way to riches. They've already spread their terrorism, oops I mean spreading their democracy, too thin.

[trje246]

@drutter Nice call Dr Utter! :o)

[ytgv3fc7]

@drutter funny how India having nukes and also North Korea means the USA is finished forever making threats.

[33commonsenseguy]

looks like iran is going to have the gold and hence make the rules ...... uh oh 

[firstliberty]

want out?? check out steve quayles website and buy a ticket to PARADISE!

[mike6459]

sanctions are an act of war...free trade never leads to war

[mike6459]

if you stop using US dollars, it's an act of war

[gr8dalmuti]

@mike6459 Yep, Saddam Hussein learned that when he tried to sell oil for euros.

[MrHydrogenpower]

@mike6459 Why is it an act of war, because the US has to maintain their dollar as the reserve currency so they can print money endlessly and afford all the wars to keep their dollar as the reserve currency.It's an endless cycle and the rest of the world is waking up to the fact this Ponzi game is coming to an end. Human lives mean nothing to the criminals who have hijacked the US for their own benifit.

[javabarbarian]

Tick tock... Not long now.

[blazefury2010]

Wait, I thought Gold wasn't money according to Bernanke?

[jjsjeffjjsjeff]

@blazefury2010 It's not money. It's just shiny metal that people trade for other things just as if it was money. Ben Bernanke is a genious!

[puapake]

Even Leon Panetta, Sec of defense, said Iran is not developing nuclear weapons. The paper pushers are getting despirate trying to cut off food, supplies, and commerce.

[thrasher956]

I'd love to be paid in gold or silver. :D

[sanctiX]

Didnt you argue that BRIC nations wouldnt be a major factor in the decline of the dollar?

[kookaburrakookaburra]

India is getting the better deal, oil is far more useful than gold. The capital of china 40% with Europes 20%....Does anyone need more proof how powerful china is???

[InflationDomination]

Don't just look at gold....silver will once again be a monetary metal.

[gitansharora]

Also, India is one of the biggest Importer of GOLD, and if you are saying it will Settle an Import with another Import...........

[gitansharora]

India is looking for NON US dollar options to pay to IRAN, But with GOLD!!! I doubt it.

Either Russian Times is bluffing or they have got hold of an Inside source.

As, there is no news about this at least in India.

PS. I live in india

[NAVYGOLDEIGHTFOUR]

It is the start of a trend.

[Yankeeprepperasshat]

haha, all the embargo is gonna do is hurt the west, lol. fuckin war mongering pricks, always shoving iran and trying to get them to throw the first punch.. really lame, if you ask me. Iran just wants to generate wealth and good living standards like everyone else, and that includes an oil refinery, which U.S. has blocked and prevented. And now they want electricity, and the U.S. blocks that. I don't like bullies, and neither should you.

[tfrenn]

“I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career,” Soros tells Newsweek. “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.”

[jamesarongray]

this is huge news... HUGE

[jamesarongray]

wow gold... india must have fookin heaps... not for long haha

[IronicallyVague]

Gee wilikers, it almost sounds Biblical...

[NicosMind]

So while we have this currency crisis gold to do better than silver and then silver to take the win at the finish line? Thats my thinking

[nayanmalig]

soon russia, india & china will have to make a tough choice. USA, Europe or form an alliance & stick together for their own good. The energy war just went up one whole notch.

[mo1986]

@HolySpirit Yehh i totally agree, people are not even slightly concerned on a mass level because either they don't want to know or want to know and look at things the wrong way with a biased mind which they form from not thinking with their own brains and let others think for them. When it hits everyones pockets and livelihood that's when they will start to ask the right questions. It's all happening slowly but surely...

[TheHolySpirit]

@mo1986 You only have to look where the US bases are in the region to see why Iran and Syria are so important in the USA's strategic dominance plans. watch?v=TU7WALsg944

[MrVegiita]

This is gonna divide the superpowers... All countries need oil. Russia, India and China want to keep doing business with Iran. Even if Iran may not have nukes, the other countries do, and can form an alliance. Nostradamus is starting to look right.  An evil mastermind is behind all this to create another war.

[kcrone1]

China, Russia and now India trading with Iran for oil, I think the US might be biting off more then they can chew this time!!

[DrackonKnight]

I just do not get people... SO WHAT if IRAN wants to make nuclear material! If anyone that wanted to do harm to us wants to use nukes they do not have to make them!! There are probably plenty on the black market most of them are probably Russian and American anyway. Even Iran can gets its hands on nukes easier then making them and cheaper!! This is ALL about OIL and the Saudi's and the OIL PIPELINE! WAKE UP PEOPLE!

[Eraser7622]

@DrackonKnight

Perhaps it is you who is sleeping my friend.. this has nearly nothing to do with oil.. there is PLENTY of oil, including HUGE deposits that aren't yet even in production! This is about monetary hegemony and the US dollar's reserve currency status. Without this status, the US is unable to continue the empire. Oil is simply the proxy which is used as the unspoken excuse while feeding the masses the idea it's about security.

It's the fiat, NOT the oil.

[DrackonKnight]

@Eraser7622 Those are called Strategic Oil Reserves that are only unplugged during say martial law, an actual war not a conflict, or in some cases to counter balance the oil market its self. So yes I know this... But You are also right about the fiat currency, But also even you have to admit they are only placating the inevitable, As long as we allow the Fed to print on a percentage, and we keep printing over our GNP it will fall its only a matter of time.

[Eraser7622]

@DrackonKnight

I wasn't referring to the strategic oil reserves, I am referring to in-ground oil reserves that are proven, yet not in production.  Plenty of evidence to support this, and no.. I'm not using Lindsey Williams as my source.

[eduardoobregon]

@Eraser7622 "there is PLENTY of oil" proof?

[Eraser7622]

@eduardoobregon

Proof... you ask for proof as if my ability or inability to provide what you consider proof will validate my argument. I'll answer your request for proof this way, and maybe you'll understand:

Prove to me that oil is scarce

There is plenty of evidence if you seek to learn... if instead you want proof delivered to your front porch, you're better off believing the lies you're being fed.

[eduardoobregon]

@Eraser7622 good point, I don't care to prove it either way, but I don't see any reason why all the stats on oil discoveries and production peaks are false. One of the many things that proves it to me is also the fact that the the US going so aggressivly against Iran. I highly recommend this talk: watch?v=8WBiTnBwSWc to answer your question go to min 45 a guy asks about oil price manipulation. Your turn...

[DrackonKnight]

@Eraser7622 Plus the whole problem of the GOV spending on military expenses, especially over seas. If this fiat currency is really such a problem to be motivating the US to participate in these conflicts, Then why are we actually wasting money? My only conclusion is that land, oil, and other natural resources have to be the pay off. No one does something for nothing. Like I said the pay off is Hard Currency in the form of resources. Not our BS promissory notes.

[Eraser7622]

@DrackonKnight

That's the point friend.. there is NO spending happening right now.. it's just fiat paper, with no real value. So it can be printed in limitless supply to continue imperialist empire building, but ONLY as long as the world will accept it.. thus the need to defend its reserve status by all means necessary. the something for nothing you refer to is that the US gets whatever it wants, for paper! for NOTHING! And now that the empire is weakening, nations waking up

[GuildF40]

Nice reason to crash gold ?

[TheHolySpirit]

Is it any coincidence that the US happens to be sending the USS Enterprise to the region, it's oldest nuclear-powered carrier, due to be decommissioned next year at great cost? Now is that conspiracy theory or what? Just like 1941. watch?v=Ufdw21ltc-8

[DrackonKnight]

@TheHolySpirit wow thanks for that information I see bad things on the horizon. What is cheaper than decommissioning something of that size? Having it destroyed of course! I really hope I am wrong I really really hope nothing happens. And if its destroyed then you know it will be the start of WWIII.

[mo1986]

That's why the EU has just banned and put an embargo on Iran from any countries trading with Iran in precious metals.. Iran has just started to trade oil with Russia with their own currencies not Dollars!

[TheHolySpirit]

@mo1986 Just like Saddam Hussein wanted to do and all of the other countries on Bush Jnr's "Axis of evil". If it's not plainly clear by now what the end-game really is to the general public then I don't know what will be.. Oh, hang on - the general public are too busy playing with iPads and watching X-Factor and trying to find a job to even think about this kinda stuff.

[MrAlkatraz1962]

Gold - It's just a tradition

[bruno188home]

@MrAlkatraz1962 yes i know, why would Iran want that barbaric relic in exchange for their oil.

[swaneeusa3]

@MrAlkatraz1962 That is great!!! lol....

[sahho]

haha!! So EU and the states are buying (investing) their money on a enemy country (Iran).. Off course they stop that and give the money to its allies instead (Saudi, kuwait, UAE and so on) and buy oil from them. "Wait, we have a crisis! We need jobs! So lets give our allies weapons for oil instead!?" Ok, saved money, jobs created, enemy not getting our money.. "How can we do it?" SANCTIONS!! No war will come people! This is just an economic change to undermine Iran, will not work. Like always

[skybirdbird]

interesting...

[anilchauisms]

I'm from India. There is not a word of this deal in Indian media so far.

[MrVegiita]

@anilchauisms maybe your government don't want anyone to know?

[theMAXILOPEZpsycho]

I don't know if its because Im watching a lot of RT, but doesn't Putin seem to be making a lot of good decisions over the last few years - playing the global chess game rather nicely

[Stokjockey]

Even as a US citizen I'm sick of our Kenyan Dictator !!!

The answer is Ron Paul 2012 !!!

[SLVBULL]

@angie7dino LoL Aussie Aussie Aussie oi oi oi. Let the currency wars begin. Which country will devalue there more than the US. The Swiss Franc done a good job of pegging their currency to the Euro. How's that working out for them, not.

[eventuallythetruth]

Remind me again John, is this that irrelevant barbaric relic stuff?

[khasyir]

this will make world war 3. as promised

[AnarchoCapitalistTV]

like.

[fuzzjunky]

it's funny how all the related videos are stella concepts!!!

[Eraser7622]

@fuzzjunky

Um, this is his channel fuzzy... of course they'd all be his vids. or did you not notice that?

[fuzzjunky]

iraq was invaded as soon as it stopped selling oil for US dollars

[stealinator]

John, whats your take on POG with all this noise now? I was looking forward to at least one more chance to buy a grain or two more of gold in at least the low 1,500 US price area.

[stealinator]

blowback bitchez. lol, worse case for the US other countries selling oil in other currercies killing the petro dollar, oil for gold.....er.....guess they didnt see that one coming, friggin awsome.

[foreheadboy]

I hope China will drop the dollar tomorrow.

[chocomalk]

Bwahahahahahahahahaaaaaaaaaa!

Just wait for China to dump US treasuries for some cheap discounted Iranian oil lol!

[VFLOH]

this undermines the power of the bankers. I'm afraid they will not allow this to happen.

Irak announced selling its oil for euros, libya tried to established a goldbacked currency to trade it's oil. when know what happened to those countries..things will get ugly very soon..

[breakinmedia]

instresting times ey, extrinsic fiat supported by the military industrial complex Vs honest money

[tapary]

Talking about shooting yourself in the foot! Stupid idiots in the US and EU governments have no common sense and no morality.

[angie7dino]

Thats Epic !!

That would make our Aussie Dollar even stronger and wipe out all the car manufacturing , what left of it .

And the collapse of the USD ... shit is starting to get real.. !!

[SLVBULL]

@lizadfuel the US economy cannot afford a rates increase. This is the beginning of the the end for the USD. Every empire be it British, Roman, Otterman Turks etc eventually crumbles and so has the US. RIP USA

[AustralianAllTheWay]

USD is trash!! This will wake up American's more than anything, they better vote in Ron Paul or they're fucked....and not the way most of us like to fuck.

[Luiyi385]

Gold to become the new international medium of exchange as more and more nations at risk of default?

[Luiyi385]

Wow !

[jwahl023]

the collapse is coming...

[lizadfuel]

When everything looks bleak and everyone is bearish on the $ - look 4 a surprise out of left field that will drive the dollar higher. Just three weeks ago everyone was dollar long, euro short, end of the EU. What if Bernanke came out tomorrow and raised rates cause he can?

[Eraser7622]

@lizadfuel

Think of another scenario, because raising rates is not possible without destroying the economy and government finances. While this might seem like an interesting theory, the act of raising rates would cause the same loss of power that the loss of the petro dollar status would cause. So, I agree with you that unexpected things will happen during this collapse phase, raising rates will only happen when the market forces it to happen, not by choice.

[lizadfuel]

@Eraser7622 Rising rates would be done IMO 4 a few reasons. 1. raising rates would put the markets into a tail spin, yet it would drive many into the dollar . 2 Use the dollar to destroy other nations wealth , ie cause market crash, to try and keep reserve status. The neocons are ruthless and would destroy the dollar if meant utter destruction for the perceived enemy.

[im1greatman]

The US considers this economic warfare. Be ready for war.

[JonathanJWB1]

great video, thx for posting it.

[nayanmalig]

GO INDIA. show them how to do it.

[JonathanJWB1]

the Yanks will definitely attack now. This an attack on the US dollar and they(banksters)) will not let this go. Sad but true, the US currency is all they have left besides that they can still make weapons. Saddam got off the US dollar for trading in oil. Gaddafi also got off the US dollar.

[TheReallitycheck]

Goodmorning Ben. :))

[wesleytarbuck]

i think thats so funny, everybody is just going to boycott the US it seems.

[LMIMSsoi]

@wesleytarbuck The US will not let this happen, If oil anywhere starts to be priced outside of the USD, The USD is done..

[wesleytarbuck]

@LMIMSsoi yeah i hear you, but i dont think they have a choice, they cant take on russia, china, india, and the middle east, i dont care who their allies are, unless we are going to a nuclear winter, and i still dont think it will come to that. Just russia and china alone is too big of a fish. The middle east have them over a barrel with the straight of hormuz, just look at the countries surrounding it, none are US allies, except israel, which is surrounded by enemies. US is screwed.