POLITICAL: Gold, Iran, and the US defeat

Wednesday, May 28, 2014

http://dailyreckoning.com/how-gold-helped-iran-avoid-defeat-by-the-u-s/

How Gold Helped Iran Avoid Defeat by the U.S.
by Addison Wiggin.
Posted May 22, 2014. 

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By July 2013, the U.S. Treasury had figured that out… and so began stepping up enforcement of a ban on gold sales to Iran — “a tacit recognition by the United States that gold is money,” Rickards adds dryly.

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By late last year, Iran and the United States agreed to resume negotiations over Iran’s nuclear program. As part of that tentative agreement, President Obama removed the sanctions on gold purchases by Iran — one of the few ways he could ease Iranian sanctions without the say-so of Congress.

“For the time being,” Rickards concludes, “Iran had fought the United States to a standstill in its financial war, despite enormous disruption to the Iranian economy. The U.S.-Iranian financial war of 2012–13 illustrates how nations that could not stand up to the United States militarily could prove a tough match when the battlefield is financial or electronic.”

“Iran,” Rickards writes, “also demonstrated how financial warfare and cyberwarfare could be combined in a hybrid asymmetric attack.”

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Not so, says former Ambassador William Miller, who was stationed in Iran during the 1960s and is in contact with the current regime. “Sanctions only made them more defiant,” he tells the Los Angeles Times.

Want proof? Iran put the same offer on the table in 2003 — only to be spurned by the United States. Actually, it was a better offer from Washington’s perspective. Back then, Iran had only 164 nuclear centrifuges; by 2013, it had 19,000. That’s a heck of a lot more bargaining chips to hold once negotiations begin in earnest.

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It’s well know that Sadam wanted to paid for “his” oil in gold just before the USA took over.

Now, Iran exposes that the dollar monopoly could be broken. 

I’m sure this lesson will not go unnoticed around the world.

And China is buying gold by the “dump truck”.

No secret — “stuff” is better than Washington’s paper IOUs.

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