India to trade gold for oil with Iran.

Discussion in 'Economics' started by peilthetraveler, Jan 11, 2011.

  1. They have plenty. After thieir purchases of large amounts from the Russians a couple of years back. They have also have been building thier military up. I am surprised they are using gold as a payment. Gold is the last thing you pay with unless it is a requirement of the deal. They should have traded diamonds for oil. Guess the Iranians got a good deal.

  2. ashatet


  3. Wasn't this the real reason Bush went after Saddam? Iraq wanted out of Dollar based transactions.
  4. But this will give new ideas to the world.
  5. Short term is code for "indefinately"
  6. Sensationalized for sure.

    The first paragraph says it all. CONSIDERING settling payments in gold in the SHORT TERM before a currency can be decided on.
  7. If India trades with Iran, India becomes the enemy!!
  9. Iran officially became an Islamic republic on 1 April 1979, following the Iranian Revolution.

    Iran is a founding member of the UN, NAM, OIC and OPEC. The political system of Iran, based on the 1979 constitution, comprises several intricately connected governing bodies. The highest state authority is the Supreme Leader. Shia Islam is the official religion and Persian is the official language.

    I would like for you folks to listen to this video...yes all of may not realize how it ends unless you listen...

    <object width="640" height="390"><param name="movie" value=""></param><param name="allowFullScreen" value="true"></param><param name="allowScriptAccess" value="always"></param><embed src="" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="640" height="390"></embed></object>
    #10     Jan 23, 2011