India Offers To Pay For Iran Oil With Gold

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Mon, 01/10/2011 - 14:03 | 864162 barkster
barkster's picture

everything old is new again

Mon, 01/10/2011 - 16:40 | 864908 DoChenRollingBearing
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This story for me raises a topic discussed a bit here on ZH about whether or not India took physical possession of the +/- 200 tonnes of gold they bought from the IMF in late 2009.

If they did not take possession, will they be able to pay Iran with paper gold?

If Iran and India do oil for (physical) gold trading, then we would likely find out soon.


Mon, 01/10/2011 - 16:46 | 864931 bunkermeatheadp...
bunkermeatheadprogeny's picture

First issue that came to my mind too

Mon, 01/10/2011 - 17:04 | 864998 spartan117
spartan117's picture

AIG getting monkey hammered and down 6%.  X down 10% in the last few days.  Where the fcuk is Spalding_Smailes???

Mon, 01/10/2011 - 17:28 | 865093 Turd Ferguson
Turd Ferguson's picture

I feel this is worthy of your attention:

Mon, 01/10/2011 - 20:10 | 865625 1223pm
1223pm's picture


The RACE has started. No country has enough Gold to backup their currency.

Who ever declare first that their currency is backed by the the Gold will Have to devalue and will be the winner.

Mon, 01/10/2011 - 14:03 | 864165 TheGreatPonzi
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Mon, 01/10/2011 - 14:16 | 864217 NotApplicable
NotApplicable's picture

But apparently you can buy oil with it. Question is, other than WTI, just how long will that remain true in dollars?

Mon, 01/10/2011 - 14:24 | 864258 DaveyJones
DaveyJones's picture

...and food is oil, therefore, you can eat gold 

Mon, 01/10/2011 - 16:34 | 864888 Sudden Debt
Sudden Debt's picture

REAL question is, WHEN will they ALL ask GOLD FOR OIL


Mon, 01/10/2011 - 18:08 | 865241 Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

That will be the "rapidly downloading brownware in the trousers" moment for the Anglo-American oligarch crowd. Of course the decadent Saudis will keep taking Uncle Sam's toilet paper (until the they're overthrown). What will the US do then? Invade Canada for its oil?

Mon, 01/10/2011 - 15:10 | 864473 Gold...Bitches
Gold...Bitches's picture

I do.

Mon, 01/10/2011 - 15:23 | 864554 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

They trade oil for gold, you can eat oil, you do everyday.  You eat oil.  Oil eater!  So while you are eating oil, they trade oil for gold.  Gold wins!

Tue, 01/11/2011 - 01:23 | 866387 Oh regional Indian
Oh regional Indian's picture

Lennon H, the funny thing is that your statement is actually true for all of us. We do eat oil. Only it looks like a fruit or a vegetable or some such.

Standing joke with my Fruit/Veggie vendor. I always ask him where the produce I'm buying comes from. 60% of the fruits on his stand are from outside India. Quite stunning for a so-called agrarian economy eh? Apples from Washington/Cali/NZ. Pears from South Africa. On and on. Shiny, tasteless fruits and vegetables, coming to us from lands far far away.

So yup, we're all oil eaters, most just cannot see it.


Mon, 01/10/2011 - 16:09 | 864759 SilverIsKing
SilverIsKing's picture

You can't wipe your ass with gold.

Mon, 01/10/2011 - 16:20 | 864814 tmosley
tmosley's picture

Hehehe, he doesn't know how to use the three shells.

Rich guys use shells made of gold.

Mon, 01/10/2011 - 16:42 | 864921 SilverIsKing
SilverIsKing's picture

Thanks for clearing up what my wife got me for Christmas.  I couldn't figure it out.

Tue, 01/11/2011 - 04:34 | 866587 Temporalist
Temporalist's picture

That is the "Great American Shell Game" brought to you by Ponzi Bros. (otherwise known as The Federal Reserve).

Mon, 01/10/2011 - 16:16 | 864795 maneco
maneco's picture

True! But you can buy oil with it and everything else including food.

Mon, 01/10/2011 - 14:05 | 864170 unwashedmass
unwashedmass's picture


i don't know why Ben doesn't offer them Bank of America stock...i mean, he's throwing billions into using it to jack stocks higher...

CNBC told me if BAC goes higher, so does the market...

let's offer that to the Iranians.

Mon, 01/10/2011 - 15:09 | 864462 Monkey Craig
Monkey Craig's picture

Prosperity? Tell that to the millions on food stamps.  Tell that to the moms and dads who stay up at night because they have trouble with the utility bills.

Mon, 01/10/2011 - 18:03 | 865229 Shylockracy
Shylockracy's picture

"The FED has given us prosperity."

"Fractional banking is a good thing, folks. So is inflation."

HamyWanger, you are just like HarryWanger, only with a sense of irony. Well done!


Mon, 01/10/2011 - 18:36 | 865344 JonNadler
JonNadler's picture

why don't you guys cut it out with all these parodies already

Mon, 01/10/2011 - 14:12 | 864199 Robot Traders Mom
Robot Traders Mom's picture

Alright Harry, break time is over. Those Big Mac's aren't going to microwave themselves.

Mon, 01/10/2011 - 14:49 | 864358 pointer
pointer's picture

Nice opinion. Did you borrow it from Glen Beck or was it Hannity?  How does a gold standard promote know what - nevermind - you're just a troll spouting off irational things with no rhyme or reason as to why you think so.  If you were required to give a detailed and constructive answer I'm sure you would NOT post anything at all.

The real questions is...

Should man play in a society run by laws of nature - limited supply on resources, such as a gold standard - where gold can't be printed...or should man play by another group of men's biased rules and regulations (arbitrary bullshit printed on thousands of pages of "bills" and "laws") with little oversight that forces the masses to absorb their fuck ups?

Also - how does a gold standard promote racism - there are no Mexicans, Blacks, Chinese or Indians on our national currency - the USD.  What's up with that?  How racist!

Mon, 01/10/2011 - 15:11 | 864480 lawrence1
lawrence1's picture

Pointer, you are wasting your time reasoning with type like Wagner, Johnny Bravo, etc.  They are intellectual virgins, not wanting their views tained by information, muddled by reasoning.  They are going to remain ignorant and proud of it.  Let them be; to repond is to encourage them.  Dont even junk them, that's encouragement too.  I guarantee you that if nobody responded at all to guys like this, they would go elsewhere.

Mon, 01/10/2011 - 14:52 | 864369 digitalhermit
digitalhermit's picture

LOL - you are cracking me up "Hamy"!

I don't think anyone else got the joke... So I wonder where is the real Harry? :-)

Mon, 01/10/2011 - 16:11 | 864771 barkster
barkster's picture

he accepted a job at kitco...

Mon, 01/10/2011 - 14:54 | 864385 godgunsandgold
godgunsandgold's picture

What I've read about Loughner, he's a pot smoking Left Wing nut job.

Mon, 01/10/2011 - 15:08 | 864454 grey7beard
grey7beard's picture

Where are you reading this?  I've seen several folks make this claim but theres' never been anything to back it up.

Mon, 01/10/2011 - 15:15 | 864504 lawrence1
lawrence1's picture

Friend, where did you get the idea that these guys who love to talk about left wing nuts, etc.,

feel the need to have a basis for the assertions?  They dont follow the traditional rules of debate, reasoning, research.   Did he back it up?

Mon, 01/10/2011 - 15:17 | 864518 Stormdancer
Stormdancer's picture

Interviews with Loughner's aquaintances consistently paint him as left will probably give you a few examples.

Mon, 01/10/2011 - 15:25 | 864555 Eric The Red
Eric The Red's picture

Or he's a tea party, gold bug, gun totin' Right Wing nut job.  Take yer pick.  Either way, the  only part that fits is "nut job".

Mon, 01/10/2011 - 20:19 | 865644 johnnynaps
johnnynaps's picture

He was. What they are not telling you on Faux news is that his drug dealer started requesting payment in gold. He then lost it because he only had fiat currency and vowed a payback.

Mon, 01/10/2011 - 14:55 | 864392 Hulk
Hulk's picture

Loving it Hamy, you have Harry down to a tee...

Tue, 01/11/2011 - 00:24 | 866287 gangland
gangland's picture

what the hell happend to his comments??

Mon, 01/10/2011 - 15:06 | 864437 gdogus erectus
gdogus erectus's picture

Just when I think I've figured you out (entertainment inserted by Tyler) you pop off with this stuff.   Hmmm, trying to sway a couple newbies to this site back to the dark side?  Man, that would be a waste of tax dollars.  Anyway, thanks for the grins!  Edit:  Ahhh yes!  The Hulk got it.  Ok, thanks again for the grins.  Too freakin' funny.

Mon, 01/10/2011 - 15:18 | 864516 Missing_Link
Missing_Link's picture

This piece of news just proves India deserves its poverty.




Basically, I am junked for saying what any sane and intelligent person would say.

I offer the pair of mutually contradictory statements above as proof of Harry's insanity and lack of qualifications to engage in rational, intelligent discourse.

Mon, 01/10/2011 - 15:56 | 864689 gangland
gangland's picture









wanger you're such a fucking troll asshole, shut the fuck up dude

Mon, 01/10/2011 - 16:08 | 864748 edotabin
edotabin's picture

I just wonder why many bother to set an alarm clock in the morning.

Mon, 01/10/2011 - 16:16 | 864794 DocLogo
DocLogo's picture

is this satire?

Mon, 01/10/2011 - 16:39 | 864894 Hephasteus
Hephasteus's picture

If you can't properly question sincerity. Then you're gong to be confused by alot of things that go on around here. If you have the functioning equipment to question sincerity then peoples blood and guts and being hurt is going to make your job difficult.

Mon, 01/10/2011 - 17:46 | 865153 RockyRacoon
RockyRacoon's picture

I'm still chuckling about how Hamy got 40 junks. 

Folks are gullible, but the sad part is:

1. They "invest" in markets.

2. They get to vote.

Save us all....

Mon, 01/10/2011 - 21:23 | 865840 StychoKiller
StychoKiller's picture

Reedin' comprehenshun...tres difficile, mai non?

Mon, 01/10/2011 - 14:16 | 864223 Sands8oo
Sands8oo's picture

Fuckwad of the first order signing in...


We read you loud and clear Sir, loud and clear.  And in other news Mr. HamWang of Washington DC is said to have been found w/ a 100oz LBMA good-delivery gold bar shoved up his asshole... Shame was, it turns out it was only tungsten...

Cheers mate and all the best to you!

Yours Truly,

Nathan Wind

Mon, 01/10/2011 - 14:16 | 864225 Arius
Arius's picture

perhaps, they might pay with gold paper certificates...? may be???

Mon, 01/10/2011 - 14:21 | 864244 Pegasus Muse
Pegasus Muse's picture

'Not Owning Gold is a Form of Insanity' 

Mon, 01/10/2011 - 15:24 | 864559 Temporalist
Temporalist's picture

If you read the comments there you will see how far Au and Ag are from  bubbles.

Mon, 01/10/2011 - 14:31 | 864280 Blindweb
Blindweb's picture

Locks on your doors are a barbarous relic, with no place in a free and enlightened society.  I guess you have such faith in your fellow man that you don't think you need that form of restraint either.



Mon, 01/10/2011 - 14:56 | 864394 mark mchugh
mark mchugh's picture

External Debt per capita (as of December 2009):

United States - $43,758

India - $187

Iran - $253

Who's poor?


I don't know anything about Iran, but I have noticed that countries with lots of oil and very little debt always seem to make it to the top of our enemies lists.

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