BREAKING NEWS: INDIA TO BUY IRAN OIL IN GOLD; NOT DOLLARS

[AmericanPatriot2008]

Oh shit. Some country, somewhere, is going to get bombed. Probably not India, though.

[bluesoleil1]

diamond is a commodity stupid!! gold has always been the currency of choice for all traders in times of instability of world currencies!! The move by iran may signal the end of the US dollar and EURO. because with their financial system they can make a country poor in 24 hours which does not reflect the reality!!!!!!!!!!!!!!!1

[Nemesis1ism]

Playmoney Vs. Gold let me think . I will take the Gold thank you vary much. The USA is scarred of Gold since the britts cleaned out fort knox.

[johnbarkand]

@Nemesis1ism you hit the nail dude

[hehefromhere]

Go india.

[watertonrivers]

According to Bloomberg, China has ordered at least 2 supertankers of oil from Iran...Sanctions don't work, and neither does war.

[ShikamaruTKD]

gold price already rising... stay on the train guys we are going to the next city

[crocfme]

And isn't the mainstream media staying typically silent on this rather important development?

I heard China is considerring a similar deal with Iran and that Russia has negotiated an oil trading deal with Iran using "local currencies".

Attempts to usurp the international petro-dollar (US Dollar) with other currencies and/or means of exchange had a lot to do with both Saddam's and Gaddafi's downfall; This is very important news!

[martinzwanenburg]

i really don`t care what other say or think,to me the only rule i live by is this:

gold IS the world currency!! and ALWAYS will be!! no matter wich country will have the world currency,,as long there coins contain NON-FERRO metals in it! even the bills should contain little gold bars or silver! that`s the only thing that would stand against this made up criminal world crisis blablabla thing!

peace!

[farshad94abedi]

tnx for uploading this greg :)

[jimbobubbadj]

This is great news. I hear that China will be doing the same.

[jimbobubbadj]

India is a much bigger nut to crack than Libya. India like China and Russia is untouchable by the USA.

[TheMetalElement]

That takes a big set of bengals, my friend.

[katz217]

I thought America would collaspe before gold would reach $5000.

[777stargeneral]

got a question for you greg, I got an engagement ring, and the wedding band is attached to it somehow. Have any idea how to get it apart? do they usually weld it together somehow?

[SilverLadyBug999]

Now this is interesting news, thanks Greg for the information !

[EconomicsCafe]

I believe this is not the first crack in the reserve status, more likely the 1,000th.

[tomisnt]

Damb! Now we have to go invade India in the name of god too?! Yep folks!, thare's terrorist hidin in India! We gotta go stop them arab bastards in India! (Wait,.. aren't Iranians "persian" and not Arab...?... Well, anyhow, we gotta bomb them bastards to protect the faberland.. I mean our country...) YeHaw.. (I really am a redneck myself, but at least I am not an average "educated sheeple) (Give me liberty or give me death!!! The revolution is NOW!)

[spacebrdcst]

Rials is crashing in IRAN due to the sanctions, and people are purchasing a lot of GOLD...Silver is getting as HIGH AS GOLD in IRAN...

[spacebrdcst]

yeah Greg,

This is happening...

[eclecticcrap]

Diamonds have only value as used for industrial drilling etc.

They have zero intrinsic value otherwise as their 'value' is artificially controlled historically by the Rothschild's Oppenheimer diamonds cartel in Antwerp Belgium.

Actually I almost forgot, it is Sir Evelyn de Rothschild who personally pegs the worlds daily GOLD bullion price in his personal Fiefdom 'The City of London'..

In other words we are pretty much SOL..

[survivalaustralia01]

thanks again Greg, Lee here did you know Russia and China also trade between each other in gold not US Dollars ,but the US would be dopey to attack China and Russia at the same time thats why they pick on the small countries, only 3 countries that are not backed by the world bank, Iran, north korea and Cuba isnt that interesting.

[goldcurrent1]

We're seeing a rise of the East and decline of the West. Japan, China, India and Russia are all strengthening relations, trade and are beginning to mutually reject the Dollar in favor of their own currencies. They are planning for and thinking of the future without the Dollar, while we think only of short term gain regardless of the damage it causes to ourselves and everyone else.

[eclecticcrap]

Isn't this a reason {read 'excuse'} for the US to next invade India? Remember what happened to Saddam Hussein and Colonel Kaddafi when they wanted to go away/off from the green-back for oil related business/buying/selling..

[ovechkin100]

omgggggg this is what will start the collapse... when people stop using dollars..... oh god! but why wouldnt they want to get rid of their fiat dollars ???

[pr4runner]

Great to know about India buying oil with gold. What about diamonds? I know that they are used a lot in industry. Why not diamonds? What do you do, ie how do you sell the diamonds after you melt? I don't know the answer & would be by your humble opinion. Thank you Greg.

[ScrapGoldBusiness]

@pr4runner

IMHO DIAMONDS ARE WORTHLESS. GOLD IS RECOGNIZABLE AND DIAMONDS ARE JUST A GIRLS BEST FRIEND.

GREG

[vito9000]

@ScrapGoldBusiness Very True, I agree with you 100% ...diamonds are really worthless, the are abundant ...,you lose close to 50% if you buy a diamond and try n sell it the very next day...

[painlord2k]

@pr4runner

Because diamonds are not:

(from Wikipedia)

Divisible into smaller units without loss of value; precious metals can be coined from bars, or melted down into bars again.

Fungible: that is, one unit or piece must be perceived as equivalent to any other, which is why diamonds, works of art or real estate are not suitable as money.

[vito9000]

@pr4runner i dont think you can melt stones into something useful...yet I maybe wrong

[Johnnyrockva]

wow...this is really big news, Greg. I think this move by India is the first of many small cracks in a dam. Eventually the dam breaks. When?...dont know. My logic tells me with 5 yrs??

Bet it wont make main stream media!