Oro 2011: imminente ritorno valutario?

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India Offers To Pay For Iran Oil With Gold
Submitted by Tyler Durden on 01/10/2011 13:00 -0500

Crude Crude Oil India Iran Saudi Arabia

It appears that gold isn't really a currency... until it is. The Economic Times reports that India is attempting to ensure steady crude oil supplies from Iran. In doing so it is doing everything it can to pay Iran in a way that avoid loopholes associated with recent US sanctions. And the stunner: "India could settle crude oil import transaction using gold in the short term, while efforts to resolve the deadlock continue." But does Iran realize they can't possibly eat all that gold? Or that The Fed has no way of diluting to oblivion? Or that, unlike the dollar, it is currently not involved in a global race to bottom in which every central bank will have no choice but to print ever more of its linen-infused currencies? Something tells us that the answer to all three is yes.

From Economic Times:

India is determined to ensure steady crude oil supplies from Iran and is even considering settling payments with gold in the short term before the two countries agree on a mutually accepted currency and a bank to clear the transactions.

"We have written a letter to NIOC ( National Iranian Oil Company )) asking it to suggest a bank where US sanctions are not applicable," a government official involved in the matter said requesting anonymity.

Another official said India could settle crude oil import transaction using gold in the short term, while efforts to resolve the deadlock continue. An Indian delegation, including officials from ministries of external affairs, finance and petroleum, will visit Tehran next week to thrash out the payment issue, officials said.

Oil industry officials are keenly awaiting a solution as India imports 80% of the 184 million tonne of crude oil it refines every year, and Iran accounts for 16% of these purchases, making it the second-biggest supplier, after Saudi Arabia.

India's crude oil imports from Iran faced an impasse after the Reserve Bank of India declared that a regional clearinghouse that involved the Iranian central bank could no longer be used to settle oil and gas transactions between the two countries.
It appears that it was the United States which itself precipitated this decision to seek potential alternative "currencies"

Several analysts believe India had acted under the pressure of the United States, which has lauded the RBI's action. Last year, India had protested Iran's remarks on Kashmir, and earlier, India had voted against the country's nuclear programme in a resolution of the International Atomic Energy Agency.

Domestic oil companies faced the crisis after the Reserve Bank of India (RBI) discontinued a settlement through the Asian Clearing Union (ACU) for crude oil payments to Iran. ACU, an initiative of the United Nations Economic and Social Commission for Asia and Pacific (ESCAP), was established in 1974 at Tehran for promoting regional co-operation. It facilitates payments among member countries for eligible transactions on a multilateral basis. The model helps in economising the use of foreign exchange reserves and transfer costs.
Ironically it is the US' desire to maintain political hegemony that may just be the catalyst that forces other countires to realize that transacting in a currency which is less and less deserving of a reserve moniker, is greatly overvalued.

h/t Mike Krieger

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La zappa, tienila da conto che presto potrebbe tornarti utile...

Per venire alle tue accuse, no, non è zerohedge, sono il Governo Indiano il Commonwealth della Virginia e nella prima fattispecie il commentatore Mike Krieger.

Virginia Creates Subcommittee To Study Monetary Alternatives In Case Of Terminal Fed "Breakdown", Considers Gold As Option
Submitted by Tyler Durden on 01/10/2011 19:29 -0500

Federal Reserve Hyperinflation

In what may one day be heralded as the formal proposal that proverbially started it all, the Commonwealth of Virginia introduced House Resolution No. 557 to establish a joint subcommittee to "to study whether the Commonwealth should adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System." In other words, Virginia will study the fallback plan of a "timely adoption of an alternative sound currency that the Commonwealth's government and citizens may employ without delay in the event of the destruction of the Federal Reserve System's currency" and avoid or "at least mitigate many of the economic, social, and political shocks to be expected to arise from hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System." Most importantly as pertain to the currency in question, "Americans may employ whatever currency they choose to stipulate as the medium for payment of their private debts, including gold or silver, or both, to the exclusion of a currency not redeemable in gold or silver that Congress may have designated 'legal tender'." Whether this resolution will ever get off the ground, and actually find that the world is at great risk should gold not be instituted as a backstop currency, is irrelevant. The mere fact that it is out there, should provide sufficient impetus to other states to consider the ultimate Plan B.

We urge all legislators to carefully read this resolution.

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Originalmente inviato da Landing

e l'Amero che fine ha fatto ?

Moneta fiduciaria soppressa sul nascere, ormai non arrivano nemmeno più al concepimento... ?

[silversterling]

Originalmente inviato da goldstock

Moneta fiduciaria soppressa sul nascere, ormai non arrivano nemmeno più al concepimento... ?

Goldieeeeeeeeeeeeeee dove seiiiiiiiiii??