This page has been archived and commenting is disabled.

How Iran Evades The Western Blockade: The Turkey-Dubai-Iran PetroGold Triangle

Tyler Durden's picture


In recent months there has been a lot of incorrect speculation that because Iran has been shut off from the petrodollar, SWIFT-mediated regime, its economy will implode as the country has no access to the all important greenback and can thus not conduct international trade - the driving factor behind the international sanctions that seek to topple the local government as Iran dies an economic death. And while there have been bouts of substantial inflation, which so far the local government appears to have managed to put a lid on by curbing gray market speculation, Iran continues to more or less operate on its merry ways with international trade most certainly taking place, especially with China, Russia and India as main trading partners. "How is this possible" those who support the Western-led embargo of all Iranian trade will ask? Simple - gold. Because while Iran may have no access to dollars, it has ample access to gold. This in itself is not new - we have reported in the past that Iran has imported substantial amounts of gold from Turkey, despite the Turkish government's stern denials. Today, courtesy of Reuters, we learn precisely what the 21st century equivalent of the Great Silk Road looks like, and just how effective Iran has been as a lab rat in escaping the great petrodollar experiment, from which conventional wisdom tells us there is no escape. Presenting: petrogold.

It all starts, contrary to the government's official denials, in Turkey. Reuters explains:

Couriers carrying millions of dollars worth of gold bullion in their luggage have been flying from Istanbul to Dubai, where the gold is shipped on to Iran, according to industry sources with knowledge of the business.

The sums involved are enormous. Official Turkish trade data suggests nearly $2 billion worth of gold was sent to Dubai on behalf of Iranian buyers in August. The shipments help Tehran manage its finances in the face of Western financial sanctions.

The sanctions, imposed over Iran's disputed nuclear program, have largely frozen it out of the global banking system, making it hard for it to conduct international money transfers. By using physical gold, Iran can continue to move its wealth across borders.

So.... gold is money? In other words, it is widely accepted, it is a store of wealth, and it is a medium of exchange? Huh. Someone tell the Chairman. He may be unaware. Apparently so, at least for countries that don't live day to day on the edge of $1 quadrillion in derivative based weapons of immediate and mass destruction.

"Every currency in the world has an identity, but gold means value without identity. The value is absolute wherever you go," said a trader in Dubai with knowledge of the gold trade between Turkey and Iran.

The identity of the ultimate destination of the gold in Iran is not known. But the scale of the operation through Dubai and its sudden growth suggest the Iranian government plays a role.

The Dubai trader and other sources familiar with the business spoke to Reuters on condition of anonymity, because of the political and commercial sensitivity of the matter.

What does Turkey get in exchange? Whatever Iran has that Turkey needs of course.

Iran sells oil and gas to Turkey, with payments made to state Iranian institutions. U.S. and European banking sanctions ban payments in U.S. dollars or euros so Iran gets paid in Turkish lira. Lira are of limited value for buying goods on international markets but ideal for a gold buying spree in Turkey.

And so, in a world in which avoiding the USD is considered lunacy by most, Turkey and Iran, quietly and effectively, have created their own loophole, in which natural resources are exchange for a local currency, which is then exchanged for gold, which then is used to purchase anything and everything that Iran needs from all those other countries that do not comply with the US and European-led embargo. Such as virtually every nation in Africa. Because gold talks, and petrodollars increasingly walk.

What is disturbing, is that Dubai is now joining in the party too, and the three way transaction may soon become the template for all other countries which are not afraid to suffer the embargo wrath of Uncle Sam:

In March this year, as the banking sanctions began to bite, Tehran sharply increased its purchases of gold bullion from Turkey, according to the Turkish government's trade data.


Direct gold exports to Iran from Turkey, long a major consumer and stockpiler of gold, hit $1.8 billion in July - equivalent to over a fifth of Turkey's entire trade deficit in that month.


In August, however, a sudden plunge in Turkey's direct gold exports to Iran coincided with a leap in its sales of the precious metal to the UAE.


Turkey exported a total $2.3 billion worth of gold in August, of which $2.1 billion was gold bullion. Just over $1.9 billion, about 36 metric tons, was sent to the UAE, latest available data from Turkey's Statistics Office shows. In July Turkey exported only $7 million of gold to the UAE.


At the same time Turkey's direct gold exports to Iran, which had been fluctuating between $1.2 billion and about $1.8 billion each month since April, slumped to just $180 million in August.


The Dubai-based trader said that from August, direct shipments to Iran were largely replaced by indirect ones through Dubai, apparently because Tehran wanted to avoid publicity.


"The trade from Turkey directly to Iran has stopped because there was just too much publicity around it," said the trader.


Dealers, jewellers and analysts in Dubai said they had not noticed any large, sudden increase of supply in the local gold market during August. They said that suggested the increased shipments to the UAE were sent straight on to Iran.


It is not clear how the gold is moved from Dubai to Iran, but there is substantial trade between the two economies, much of it conducted by wooden dhows and other ships crossing the Gulf, a distance of only about 150 kilometers (100 miles) at its narrowest point.


A trader in Turkey said Tehran had shifted to indirect imports because the direct shipments were widely reported in Turkish and international media earlier this year. "Now on paper it looks like the gold is going to Dubai, not to Iran," he said.

So what happens if the US demands that Dubai halt trading with Iran? Nothing much: another country will pop up to replace its place in the golden triangle, and then another, and then another. After all, they are intervening on very lucrative terms: the bid/ask in the transaction. Precisely the same reason bank flow desks keep the bond and stock market flowing day to day.

What would happen if Turkey itself sours?

The buyers may also want to make their purchases less vulnerable to any possible interference by Turkey's government. Turkey's close relationship with Iran has begun to sour as the two states find themselves on opposite sides of the civil war in Syria, with Turkey advocating the departure of President Bashar al-Assad and Iran remaining Assad's staunchest regional ally.

So more of the same: Iran would simply find a regional country that needs crude - many, many of them around - and offer to trade crude for gold, which would keep the mini petrogold cycle afloat.

Yet the biggest irony is that despite all the overt animosity between Iran and Turkey, by way of Syria, the two nations continue to transact, making one wonder just how credible are all those reports of middle eastern animosity between this country and that, or that ethnic faction and this. Not surprising: gold overcomes all differences. All of them.

Finally, the reality is that nobody is actually breaking any rules.

There is no suggestion that the gold trade means Dubai is violating international sanctions against Iran. United Nations sanctions ban shipments of nuclear-related materials to Iran and freeze the assets of some Iranian individuals and companies, but they do not prohibit most forms of trade. The UAE has not yet released its trade data for August. Officials at the Dubai customs authority could not be reached for comment despite repeated attempts to contact them.


Turkish trade data confirms the gold is being transported to Dubai by air. According to the data, $1.45 billion of Turkey's total gold exports in August were shipped through the customs office at Ataturk airport's passenger lounge. Almost all of the rest, $800 million, were shipped from Istanbul's smaller Sabiha Gokcen airport. Turkey's total exports of all goods to the UAE totaled $2.2 billion in August. Of that amount, $1.19 billion were registered at the Ataturk passenger lounge, while $776 million were registered at Sabiha Gokcen.

A customs broker who does business at Ataturk said couriers were boarding Turkish Airlines and Emirates flights to Dubai at the airport, carrying the metal in their hand luggage to avoid the risk of it getting lost or stolen.


The maximum amount of gold bullion which a passenger is allowed to take is 50 kilograms (110 pounds), he said. This suggests that during the month of August, as many as several hundred courier trips may have taken gold to Dubai on Iran's behalf.


"It is all legal, they declare it, they give their tax number and it is all registered so there is nothing illegal about this," the broker said. "At the moment there's quite a lot of traffic to Dubai. During September and October we have also been seeing this."


The trade data shows almost $1.4 billion worth of Turkey's August exports to the UAE came from a company or companies with a tax number registered in the coastal city of Izmir, Turkey's third biggest. Customs officials at Ataturk declined a Reuters request to provide documents identifying the exporters, saying the information was confidential.


The identity of the companies handling the business could not be confirmed. Traders said that because of the risk of attracting unwelcome attention from U.S. authorities, only a few companies were likely to be willing to get involved.

And there you have it: a perfectly counterparty free system, in which a transaction is done, and no traces are left behind. More importantly, this is the blueprint for the future, as more and more countries evade the subjugation of the petrodollar regime so ubiquitous for the past century, and which is slowly but surely being shifted to benefit those countries who are not insolvent, and who actually produce things needed by the rest of the world.


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 10/23/2012 - 13:11 | 2913144 Alpo for Granny
Alpo for Granny's picture

Smithers..release the drones.

Tue, 10/23/2012 - 13:12 | 2913151 The trend is yo...
The trend is your friend's picture

it all goes kaboom before this is alowed to happen

Tue, 10/23/2012 - 13:31 | 2913206 Dalago
Dalago's picture

So then why is Turkey ganging up on Iran's buddy, Syria?  Maybe they're all lies!

Tue, 10/23/2012 - 13:33 | 2913219 Skateboarder
Skateboarder's picture

G dub explained it really well in this article, actually. A major chunk of the pipeline goes through Syria...

Tue, 10/23/2012 - 13:36 | 2913229 Kitler
Kitler's picture

< Uranium 235

< Gold 1,709

What is the most dangerous metal in Irans arsenal?

Tue, 10/23/2012 - 13:39 | 2913240 francis_sawyer
francis_sawyer's picture

They hate us for our fr- [gold & oil]...

Tue, 10/23/2012 - 13:47 | 2913270 redpill
redpill's picture

Gold?  GOLD??  Those BARBARIANS!  We must invade them immediately.



Mittrack Obamney

Tue, 10/23/2012 - 14:26 | 2913407 fockewulf190
fockewulf190's picture

"...not surprisingly, gold overcomes all differences. All of them."

It's not gold, it's greed. "Greed is good!" has got to be the most easily translatable quote in the world.

Tue, 10/23/2012 - 14:44 | 2913479 ParkAveFlasher
ParkAveFlasher's picture

The "most easily translatable quote in the world" is GOLD, BITCHEZ!

Tue, 10/23/2012 - 14:13 | 2913345 Wile-E-Coyote
Wile-E-Coyote's picture

Ummmm yes, maybe Turkey fired a shell into Turkey from ahhh possibly Turkey!

Tue, 10/23/2012 - 14:45 | 2913465 Jackagain
Jackagain's picture

I thought only America used false flag operations....

Tue, 10/23/2012 - 14:42 | 2913466 Jackagain
Jackagain's picture

Double post?load

Tue, 10/23/2012 - 13:29 | 2913204 overbet
overbet's picture

Zerohedge is almost unreadable for me with all these Michelle Obama ugly pic ads. Come on seriously get this shit off my screen WTF

Tue, 10/23/2012 - 13:40 | 2913232 Skateboarder
Skateboarder's picture

Install Adblock Plus on Firefox:


Subscribe to EasyList, EasyPrivacy, Fanboy's List, Adversity, and Antisocial lists to block ads and social networking:


No ads and no FB/twitter/bullshit

Tue, 10/23/2012 - 14:20 | 2913379 caconhma
caconhma's picture

You cannot fool Mother Nature. If there is a demand, there will be a supply.

Drugs are illegal too. So what? The supplies are available at every corner in every single American city. The same was true with booze back in 1920s in America and somebody became really rich. Remember the great American dynasty Kennedy? They all were/are hoodlums.

Now, EU population is in a big distress and there are more than enough people to do a profitable business regardless of it being officially legal or illegal.

Do US and EU leaders really want to build very close ties between Iran, China, India, and Russia?


Watching Romney yesterday, I concluded that he is a “high class” prostitute and he deserves white men vote. Do we really want Obama and his communist buddies to run America for another four years?


Tue, 10/23/2012 - 15:06 | 2913565 Svendblaaskaeg
Svendblaaskaeg's picture

Ad Muncher - the muh-cow eats it all

Tue, 10/23/2012 - 13:44 | 2913254 ezcearhoc
ezcearhoc's picture

I don't see any of them

edit: oops, yeah what the guy above me said.

Tue, 10/23/2012 - 13:51 | 2913274 redpill
redpill's picture

Oh shit, I thought that was an ad for a BBC special on Jane Goodall

Tue, 10/23/2012 - 14:13 | 2913347 debtor of last ...
debtor of last resort's picture

Google a few times bikini babes. Problem solved.

Tue, 10/23/2012 - 14:44 | 2913474 Jackagain
Jackagain's picture

Ghostery works well too....

Wed, 10/24/2012 - 12:23 | 2915954 thewhitelion
thewhitelion's picture

I click on it every time.

Tue, 10/23/2012 - 13:12 | 2913150 john39
john39's picture

certainly seems like Turkey is playing all sides in this mess.

Tue, 10/23/2012 - 13:21 | 2913181 Zero Govt
Zero Govt's picture

like the merchantile Dutch during all the epic fights/farces between England, France, Germany, Spain etc etc

War is the most expensive waste of money in history, Govt has perfected the art and cornered the market in spending money stupid... but very profitable for downstream suppliers

Tue, 10/23/2012 - 13:32 | 2913217 No Euros please...
No Euros please we&#039;re British's picture

And a great excuse for a "little" austerity at home.

Tue, 10/23/2012 - 14:16 | 2913356 debtor of last ...
debtor of last resort's picture

At your service.

Tue, 10/23/2012 - 14:09 | 2913323 redpill
redpill's picture

Pfft, they're full of stuffing

Tue, 10/23/2012 - 18:36 | 2914273 Urban Redneck
Urban Redneck's picture


certainly seems like Turkey is playing all sides in this mess.

The Turks aren't the only ones playing all sides.  Perhaps the Clouseau brigade will look into how US exports to Iran have surged this year in spite of the SWIFT roadblock (perhaps bartering and sanctions loopholes aren't as the MSM bills them)

Tue, 10/23/2012 - 13:13 | 2913154 slackrabbit
slackrabbit's picture

All they need now is peg it to gold....

Tue, 10/23/2012 - 14:22 | 2913367 Harbanger
Harbanger's picture

Peg oil to Gold?  I wonder how the Iranians are pricing it now.  A barrel of crude is about $86 USD and Gold is about $1709 USD.  Thats about 20 barrels per ounce.  Just curious what they use to set a price for exchange.

Tue, 10/23/2012 - 14:27 | 2913414 Spitzer
Spitzer's picture

There is more to this story

Iran is not trading oil for gold at the same price Dennis Gartman pays for his futures.

Think about it...

Tue, 10/23/2012 - 15:01 | 2913551 ParkAveFlasher
ParkAveFlasher's picture

15-16 barrels/oz. is the norm.

Tue, 10/23/2012 - 15:44 | 2913698 Harbanger
Harbanger's picture

Would you give an ounce of physical Gold for 15 barrels of something you're going to burn, when you can pay for it with currency?  Probably not.  They must really be giving it away for people to pay for it in Phys Gold.

Tue, 10/23/2012 - 19:44 | 2914461 ParkAveFlasher
ParkAveFlasher's picture

Gold for oil existed before dollar for oil, it will exist after it.

Tue, 10/23/2012 - 13:15 | 2913155 Jason T
Jason T's picture

We don't want the "Ben" confetti from Washington..

This is in referance to the popular german saying "we don't want any jew confetti from berlin"'t+want+the+jew+confetti+from+berlin&source=bl&ots=ZG0wyZWlf5&sig=SsTBPgI_C4vvj5dI-6yTi_2vK-w&hl=en&sa=X&ei=UtCGUICjA-nm0gGetIDoBQ&ved=0CCUQ6AEwAQ#v=onepage&q=we%20don't%20want%20the%20jew%20confetti%20from%20berlin&f=false



Tue, 10/23/2012 - 13:13 | 2913156 Silver Garbage Man
Silver Garbage Man's picture

PetroGold...Food and everything else Silver

Tue, 10/23/2012 - 13:14 | 2913160 Fips_OnTheSpot
Fips_OnTheSpot's picture


Tue, 10/23/2012 - 13:15 | 2913162 No Euros please...
No Euros please we&#039;re British's picture

Gold? GOLD!! Gold is obviously a barbarous terrorist and must be confiscated immediately.

Tue, 10/23/2012 - 13:15 | 2913163 Temporalist
Temporalist's picture
Iran Threatens to Halt Crude Exports If Sanctions Intensify

Tue, 10/23/2012 - 15:15 | 2913503 fockewulf190
fockewulf190's picture

Hmmm...sounds like the demand for gold phyzz is getting so great worldwide, there isn't enough of it on hand to even pay the Iranians least not enough to be able to support the monthly needs of it's huge population. With China alone buying hundreds of tons officially (and who knows how much unofficially) this year alone, and other central banks joining the phyzz party, the Iranians are getting squeezed even through this back channel.

Could the market manipulation in gold and silver prices have something to do with choking Irans only real income stream? Keep the prices low and somewhat stable and watch the physical fly off the shelves. It may end up busting the Comex, and cause strokes over at the LBMA, but if the powers that be behind the scenes want supply to evaporate to try and force an Iranian implosion without war, I'm going to bet they will try.

It could also could be the real reason why the CFTC has done nothing at all despite all the obvious and blatent smashdowns that are happening almost daily. Not to mention the total avoidance of mentioning anything at all about the silver manipulation investigation. It's a national security operation in progress.

Seems to me it may be working.

Tue, 10/23/2012 - 13:14 | 2913166 h0oS
h0oS's picture

The idea that Iran can be shut out of the global economy is US hubris. Commodity payments without the use of the dollar are easily sustainable by Iran you'll see the processes by which these payments are transacted continuously improve over the years. Gold is money, as is Silver and Iran is well versed in using this money. Iran is too big, too well connected and too important to be shut out of the global economy. Add to this that no one wants the dollar and the coming dollar collapse is only going to be accelerated by backward US policy to defend Israel.

Tue, 10/23/2012 - 16:17 | 2913850 richard in norway
richard in norway's picture

oil is money

Tue, 10/23/2012 - 18:48 | 2914308 Urban Redneck
Urban Redneck's picture

Oil is actually a very efficient store of wealth if you don't pull it out of the ground (only slightly less efficient if you put it back in the ground because you have excess SPR capacity).

Tue, 10/23/2012 - 13:23 | 2913168 toomanyfakecons...
toomanyfakeconservatives's picture

The end of the petro-dollar has been in sight for some time now. The 100+ nation BRICs alliance is in the position to ditch the U.S. Dollar for international trade.

Tue, 10/23/2012 - 13:24 | 2913169 Zero Govt
Zero Govt's picture

"So.... gold is money? In other words, it is widely accepted, it is a store of wealth, and it is a medium of exchange? Huh. Someone tell the Chairman."

As lost causes go that ranks amongst the most futile. 

Bubble Ben's sopping up crappy Dimon & Blankfein soiled nappies, not Gold as he should... mal-investment at the Fed goes stratospheric.. what a turkey. 

Tue, 10/23/2012 - 13:16 | 2913171 Quinvarius
Quinvarius's picture

Finally.  A story I can enjoy reading.  All the stock bears in QE denial were getting to me. 

Tue, 10/23/2012 - 13:31 | 2913210 Skateboarder
Skateboarder's picture

Trudat. This is probably the happiest article I've read on ZH this month.

To real trade! Cheers!

Tue, 10/23/2012 - 13:18 | 2913173 topspinslicer
topspinslicer's picture

Big Government actions always have unintended consequences -- this is one way of pushing people/countries off of the dollar standard

Tue, 10/23/2012 - 13:17 | 2913174 dbTX
dbTX's picture

I like anything gold, petro or otherwise

Tue, 10/23/2012 - 13:18 | 2913175 Desert Irish
Desert Irish's picture

So.....In the event we are dragged into an Iranian or Syrian war with NATO's Article 5 invoked we could concievably be coming to the aid of a NATO member who is currently propping up the regime or a supporter of a regime we may be fighting. Yep sounds about right....

Tue, 10/23/2012 - 13:18 | 2913178 Joebloinvestor
Joebloinvestor's picture

The world never left the gold standard.

Tue, 10/23/2012 - 13:20 | 2913182 LawsofPhysics
LawsofPhysics's picture

Gold and oil, two things everyone is willing to trade for, imagine fucking that you keynesian fucks.   Awesome.

Tue, 10/23/2012 - 13:19 | 2913184 dbTX
dbTX's picture

Charlie said gold was just bullshit, or something

Tue, 10/23/2012 - 14:09 | 2913324 WmMcK
WmMcK's picture

Charlie says: "Love that Good and Plenty".

Tue, 10/23/2012 - 15:43 | 2913691 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

..Really Rings the Bell

Tue, 10/23/2012 - 13:22 | 2913186 Cocomaan
Cocomaan's picture

If Iran is trying to go the way of the gold dinar, Khameni is going to go the way of Gaddafi. There simply cannot be any non-independent central banks in the world (Iraq, Libya, Iran), nor can there be anything other than a petrodollar. 

Tue, 10/23/2012 - 13:23 | 2913194 LawsofPhysics
LawsofPhysics's picture

You forgot your < sarc > tag charlie brown, looks like the BRICs moved the football again.

Tue, 10/23/2012 - 13:25 | 2913197 Cocomaan
Cocomaan's picture

Godammit, every time. 

Tue, 10/23/2012 - 13:21 | 2913189 fonzannoon
fonzannoon's picture

no wonder Romney is foaming at the mouth to attadk Iran. Obama is too stupid to understand or care.

Tue, 10/23/2012 - 13:22 | 2913191 russwinter
Tue, 10/23/2012 - 13:26 | 2913199 Dr. Gonzo
Dr. Gonzo's picture

Gold talks and bullshit walks...and that's why I own it. Amazing how when you need something but don't have cash an oz of gold can open up doors like you wouldn't believe.

Tue, 10/23/2012 - 13:27 | 2913200 Tsunami Wave
Tsunami Wave's picture

Jim Rickards talked about this in Currency Wars, over Iran's relationship with Dubai

Tue, 10/23/2012 - 13:27 | 2913201 Top_Kill
Top_Kill's picture

So those who trade in gold wish to keep it quiet to avoid the scrutiny and shame from the global community, yet those who trade in and create CDS are respected and are put on TV as doing god's work. Do I have this right?

Tue, 10/23/2012 - 14:34 | 2913434 Spitzer
Spitzer's picture

Iran is probably trading an ounce of gold for a 1000 barrells of oil.

Iran is not trading oil for the same price Dennis Gartman pays for his futures.

Tue, 10/23/2012 - 13:30 | 2913205 midtowng
midtowng's picture

So it's true that only terrorists buy and sell gold?

that's how the media will report it

Tue, 10/23/2012 - 13:56 | 2913284 Shameful
Shameful's picture

That was my thought.  Iran = Terrorists, Iran uses gold, terrorists use gold.  See and bam NDAA can be used to declare on all nations and peoples on Earth, since everyone is a terrorist.

Tue, 10/23/2012 - 14:51 | 2913510 ParkAveFlasher
ParkAveFlasher's picture

In fact they don't eat french fries, they eat terrorist fries.

Tue, 10/23/2012 - 21:38 | 2914707 Renewable Life
Renewable Life's picture

No, not everyone by a long shot.......just those who buy, own, and trade in gold, NOT US DOLLARS!

Tue, 10/23/2012 - 13:30 | 2913208 Likstane
Likstane's picture

Petro-gold bitchez!

Tue, 10/23/2012 - 13:30 | 2913209 AnAnonymous
AnAnonymous's picture

2billions in out?

Reads more as they are choked, with the chokehold not being perfectly tight (2 billions in/out leak)

Tue, 10/23/2012 - 15:30 | 2913645 TheFourthStooge-ing
TheFourthStooge-ing's picture


2billions in out?

Reads more as they are choked, with the chokehold not being perfectly tight (2 billions in/out leak)

Reads more like you are choking chicken, with the handhold not being perfectly tight (attempted multitasking roadside squat).

Tue, 10/23/2012 - 13:31 | 2913211 Peter Pan
Peter Pan's picture

Iran needs to put in an order for 30 billion dollars of silver which it should use for nternal circulation. It will send JP MORGAN scurrying and it will protect its citizens against inflation. It might also provoke an Israeli attack.

Tue, 10/23/2012 - 13:32 | 2913213 10044
10044's picture

Iran's oil is "state" owned which means the gold(Tungsten or else) will also be state owned, which further mean jack sht to the "people" of Iran who are suffering from the sanctions in a very tragic way.
So next time you write a story about Iran, please distinguish between the dictators at the top and the regular folks on the street.

Tue, 10/23/2012 - 14:40 | 2913457 Overfed
Overfed's picture

I guess you slept through the history lesson that explained how the current government in Iran came into being.

Tue, 10/23/2012 - 13:32 | 2913214 alien-IQ
alien-IQ's picture

"petro-gold" sounds like a strain of Middle Eastern hydroponic pot.

Tue, 10/23/2012 - 14:20 | 2913371 WmMcK
WmMcK's picture

Long Cuervo Gold (and fine Columbian).

Tue, 10/23/2012 - 22:23 | 2914773 StychoKiller
StychoKiller's picture

Rock-solid -- smoke some and see the light! :>D

Tue, 10/23/2012 - 13:34 | 2913216 falak pema
falak pema's picture

As both the Safavid and Ottoman Empires have long crumbled, both those nations with an imperial past, unlike those dumb Bedouins from Riad, have enuff sense so as to collaborate on the essential. In the face of foreign presence.

Nothing will ever be achieved on long standing basis  in the ME without both Iran and Turkey. They are the key countries with a sense of history and progress, compatible with the west; Dubai or no Dubya Riad connection.

Tue, 10/23/2012 - 13:35 | 2913225 The big unzip
The big unzip's picture

I dont understand how this is not working.  Washington D C has has some of the toughest gun laws in the country and that keeps everyone therr from being shot.  It should work in Iran too.

Tue, 10/23/2012 - 13:38 | 2913235 inevitablecollapse
inevitablecollapse's picture

perhaps the 'talent' used in this image could trade that nice gold bar in for a manicure?  outside of that, where there's a will, there's a way and obviously there is desire for trade with even useless relics like gold...

Tue, 10/23/2012 - 13:39 | 2913236 Bastiat
Bastiat's picture

They hate us for our freedom to create "money" out of thin air and force people to accept it.

Tue, 10/23/2012 - 16:17 | 2913853 Radical Marijuana
Radical Marijuana's picture


This kind of story is extremely important. The events described in this story are the MAIN reasons why the international banksters want to bomb Iran. The international banksters, with an Anglo-America (Zionist) base, have built their ability to make money out of nothing, and force everyone else to accept that. There is nothing else worth more than that, since that can buy control over everything else. Anything which challenges the abilities of the banksters to make money out of nothing, and force everyone else to accept that, IS the prime target to be destroyed by the banksters.

Our weapons have not defended "freedom and democracy" those weapons have  been defending the banksters' frauds. The banksters have already been able to take control over the Anglo-American (Zionist) world, and practically everywhere else. There is NOTHING more valuable to them that being able to continue to make money out of nothing, and force everyone else to accept that. Therefore, this kind of story is terrifying, since it strongly reinforces the idea that the bankster controlled Anglo-American (Zionist) world WILL gamble on bombing Iran, to stop the banksters' power from being infringed.

The international bankster cabal/cartel is collectively a group of trillionaire mass murders. I believe that they were within the systems that caused the events on 9/11/2001, as a false flag attack to blame on Muslims. Those are the kinds of people we are talking about in cases like this. It is almost impossible to imagine how much the power to make money out of nothing, and force everyone to accept that, is worth to those who can do that! Tragically, I believe that stories like this are driving the world towards genocidal world war, along with democidal martial law. I have had a few decades to gradually get used to understanding and anticipating that, which has made me become 100% objectively depressed, because I believe that the people who can make money out of nothing, and force everyone to accept that, are able and willing to risk causing an out of control world war to maintain their power. Therefore, I believe that will result in martial law being imposed within North America, because of those global events. More and more I am praying for a series of political miracles, while I also become resigned to everything I care about being destroyed, since there is nothing practical and realistic that I can do about this situation.

I believe that the banksters that control the Western world ARE going to start an utterly insane world war, and that will result in the destruction of whatever little is left of democracy and freedom in North America. I do not believe that my publishing this will do anything, but maybe make sure my name is still on the list of many other people who will be murdered, after martial law is imposed in North America. I do not believe that I can do anything to prevent that. ... I merely want to try to understand WHY that will happen, which about the only semi-sane reason for reading articles like this, and posting comments upon them.

Tue, 10/23/2012 - 19:38 | 2914442 Againstthelie
Againstthelie's picture

Wise man.

Tue, 10/23/2012 - 21:46 | 2914718 Renewable Life
Renewable Life's picture

........and once they wipe Iran and get them BACK on the dollar addiction, they'll move toward Chavez and anyone else who has the nerve to challenge the dollar bankster cartel!

Ever wondered why we shipped trillions of dollars in currency to Iraq after the invasion??? look it up, its what this shit is ALL about!!

Tue, 10/23/2012 - 13:42 | 2913246 Peter Pan
Peter Pan's picture

Iran needs to put in an order for 30 billion dollars of silver which it should use for nternal circulation. It will send JP MORGAN scurrying and it will protect its citizens against inflation. It might also provoke an Israeli attack.

Tue, 10/23/2012 - 15:11 | 2913583 markar
markar's picture

No one could deliver it.

Tue, 10/23/2012 - 13:41 | 2913251 mvsjcl
mvsjcl's picture

Hi Tyler(s):

Who exactly are you? What's the name(s) behind the information?

Tue, 10/23/2012 - 13:50 | 2913273 Likstane
Likstane's picture

Shut up! You don't need to know.  The only one who knows is Pi-rat and it seems as he got corzined.  Just BTFD and don't ask too many questions about Tyler. 

Tue, 10/23/2012 - 14:07 | 2913317 Unprepared
Unprepared's picture

What do you care? Do you agree, disagree, or nuance the provided information/analysis?

Tue, 10/23/2012 - 14:21 | 2913372 mvsjcl
mvsjcl's picture

I'm sure nobody else knows. Big mystery. Stand behind your analysis? Who's standing? Who's accountable? Do we really believe it's a big mystery to people who really want to know? Yeah. The number one rule of Fight Club... Me? It ain't a game--or a movie.

Tue, 10/23/2012 - 14:23 | 2913394 resurger
resurger's picture

I dont want to know and i dont give a fuck who he is/they are!

All i know is that in the futrue Zero Hedge and its members will make history...

Tue, 10/23/2012 - 14:35 | 2913441 mvsjcl
mvsjcl's picture

So we'll embrace the truth tellers without knowing who the truth tellers are? The people who want to know the truth tellers know who they are. The people who are searching for the truth don't.

I see nothing wrong with that.

Tue, 10/23/2012 - 14:43 | 2913469 Overfed
Overfed's picture

The story of Julian Assange makes a good case for anonymity.

Tue, 10/23/2012 - 14:49 | 2913506 mvsjcl
mvsjcl's picture

He was never anonymous. Nor were his sources.

Tue, 10/23/2012 - 15:44 | 2913687 JR
JR's picture

The point, mvsjci:

An effective fighter damages his enemy and sacrificing himself as in suicide gains nothing. You don’t stand alone in full view of the enemy and not expect to be shot.

Assange represents a clearing house for others putting out information under wraps to protect themselves.

Tue, 10/23/2012 - 17:07 | 2914013 Overfed
Overfed's picture

Indeed. That is the point.

Tue, 10/23/2012 - 14:35 | 2913430 falak pema
falak pema's picture

Accountable for what??

These guys aren't Ben Bernanke,these guys exercise free will and judgement based on fact and analysis.

Do you dspute that process, which is at the heart of our civilisation or do you want to know whose is the face behind the biting logic; like a paparazzi wants to know who is sleeping in Dumbella's bed?

Some questions are fed on ephemeral, narcissistic impulses. 


Tue, 10/23/2012 - 15:15 | 2913578 mvsjcl
mvsjcl's picture

If I really believed in what fact, logic and data told me, then your words would hold much truth to me. But I've seen too much, doubt too much, and question too much to accept even the pearl I find in the stray mollusk I happen across. To do so (accept blindly what is offered to me) would counter the philosophy of Fight Club. Thus my questions.

Tue, 10/23/2012 - 15:50 | 2913727 TheFourthStooge-ing
TheFourthStooge-ing's picture

What part of this are you finding difficult to understand?

Tue, 10/23/2012 - 16:02 | 2913783 RichardP
RichardP's picture

From the Tylers, here: .  In the early days of ZH, Tyler1 was identified.  Some of us know who he is.

Edit:  FourthStooge posted while I was preparing this.  We both link to the same article.  The following quotes from that article.

You should assume that at all times we are so totally just talking our book it would shock and awe you like the unexpected, early-morning arrival of a cluster of BGM-109C Tomahawks (were you a believer in the importance of "optics" that is).

If we make a off-hand remark about New Zealand sheep herders it's because we are long New Zealand West Island Cold Kut (NZ-WICK) Wool futures and Kiwi brand Condoms ("For it's pleasure").  If we are joking around about Cliff Asness, it's because we have developed a synthetic short of ARQ.  If we jest about Joe Sixpack, it's because we are trying to hype our cheap-American-beer holdings so we can exit quickly.  Basically, we are telling you about a position we believe in strongly enough to invest in. ...

The reality is, critical readers should read analytic posts and the rest of Zero Hedge with the blanket assumption that the author is totally "conflicted."  (Phrased more logically, that the author stands to benefit from being right- imagine that).  This turns the conversation to the content, and away from the author, the author's biography and the contents of their IRA account / blind trust.  This (the content) is, of course, where the focus should be.  ... If you still get something out of our writing with the assumption that we are invested in our position and stand to gain personally from you believing us, well, we've done our job.  If not, then our being "unconflicted" isn't going to change the fact that we have a weak argument or poorly reasoned prose.

Tue, 10/23/2012 - 14:28 | 2913420 JR
JR's picture

One stumbles along in the dark and what’s this? a pearl! Shall we leave it and move on in ignorance of its authenticity or shall we clasp it warmly to our bosom and treat it lovingly as one would treat the truth in an alien world? That’s who the Tylers are.


Tue, 10/23/2012 - 14:41 | 2913462 mvsjcl
mvsjcl's picture

You can't fight somebody until they step into the ring.

Tue, 10/23/2012 - 15:32 | 2913650 JR
JR's picture

The Tylers are masked, mvsjcl, so that the words are free to speak for themselves. When you’re fighting powerful forces of propaganda, lies and rumors with truth, you’re in the ring. And it’s a fight to the finish with the lies aimed straight for the jaw.

And it's not random at all. Other human beings, often hidng behind a corrupted media and corrupt market, are aiming that lie, that arrow, straight at the truth. 

“Once a rumor is in the wild, you can't unring that bell…

“It's hard to fight fire with fire, especially when you can't use the same evil techniques, manipulations and lies as the other side employing propaganda against you. The playing field isn't even, either, as you will typically be David in a fight against Goliath, as propaganda is a tool of those in power and on top. Yet the greatest strength of propaganda is also its greatest weakness. You don't have to fight on their terms.” –Guy Bergstrom, About,com Marketing.

Tue, 10/23/2012 - 13:49 | 2913271 JR
JR's picture

There are 74 million people in Iran, a nation that has neither attacked nor invaded any country as an aggressor in the past 300 years. Now, because of the Zionist domination of America and America’s domination of European politicians, the West has joined together with its allies in crippling….CRIPPLING…sanctions against these innocent people.

Because Iran may have been interested in defending itself against the Israeli bulldozer throughout the Middle East, the Nobel Prize winning European Union has joined hands in a kumbaya peaceful moment to further cripple the children and poor people of the Persian homeland, with its foreign ministers adopting on Oct. 15 a raft of new sanctions against Iran. 

Reuter has confirmed that this blatant hostage-taking by inhumane sanctions has made Iran unable to import basic commodities, including foodstuff and medical supplies for dying hospital patients.

And still, a neo-conservative member of the United States House of Representatives, Bradley James Sherman, one of the strongest advocates of U.S.-Israeli relations, cruelly condones the inhumanity: “Critics [of the sanctions] argued that these measures will hurt the Iranian people. Quite frankly, we need to do just that.”

It is time for Americans to begin to protect themselves against the current foreign takeover of Washington by organizing supplies, munitions, and Minutemen who can be ready at a minute’s notice for a just rebellion as has been done in America's past historical resistance for independence. A "just rebellion" was described by the seventeenth-century political theorist, John Locke, as “being properly a state of war, wherein the appeal lies only to Heaven,” when the people have exhausted every other last resort.

Tue, 10/23/2012 - 14:40 | 2913455 RiotActing
RiotActing's picture

Keep talking like that and you are going to get a knock at your door....

Tue, 10/23/2012 - 17:15 | 2914036 Chupacabra-322
Chupacabra-322's picture

@ RiotActing,

it's exactly the type of thinking that is needed NOW!  It's that type of thinking that won The United States its freedom from bondage and enslavement. 


Tue, 10/23/2012 - 17:27 | 2914076 Alpha Monkey
Alpha Monkey's picture

Don't be afraid, they can't get all of us...

Tue, 10/23/2012 - 18:02 | 2914167 machineh
machineh's picture

Bradley James Sherman, one of the strongest advocates of U.S.-Israeli relations, cruelly condones the inhumanity: “Critics [of the sanctions] argued that these measures will hurt the Iranian people. Quite frankly, we need to do just that.”

Sounds like his ancestor Willam T. Sherman, who burned crops, barns and infrastructure to starve women and children.

Tue, 10/23/2012 - 19:05 | 2914370 Urban Redneck
Urban Redneck's picture

Your first paragraph contains a demonstrable falsehood, so why bother with the rest?

Tue, 10/23/2012 - 13:55 | 2913282 firstdivision
firstdivision's picture

The death of the Petrodollar is happening before our eyes, and when it does finally bleed out, then the wars will begin.  I’m not looking forward to see how many of our troops die in Iran all in the namesake of preserving the status quo of the rich.  One would think that the troops would realize they are to protect the US from enemies both external and internal.

Tue, 10/23/2012 - 14:03 | 2913306 toomanyfakecons...
toomanyfakeconservatives's picture

The U.S. military won't play ball with WWIII. The fear bots will tell you the military is a homogenous bunch of order-taking jackboots, but that just isn't the case. Pray the military backs a civilian-led campaign of MASS ARRESTS...

Tue, 10/23/2012 - 14:15 | 2913353 Shameful
Shameful's picture

I wouldn't expect many US troops to die in Iran in the case of war.  I would however expect large scale deployment of bombing on military and civilian areas, combat American style.  And if things get hairy the US is hte only country that has deployed nuclear weapons against foreigners.

As to the wisdom of the troops, they are obedient killers...that's the whole point of their training!  To take orders and to kill, everything else is secondary to that.  So expecting a group of obedient killers to exercise disobedience and to not kill seems rather unrealistic.  One only has to look at what Kissinger thought about the troops to get a somewhat accurate assessment.  Now for those who will jump on me for this, if militaries are so good and moral why didn't the Wehrmacht stop Hitler, or the Red Army take down Stalin?  Truth is a standing army is always not only a tool to menace outsiders but to keep the locals in line.

Tue, 10/23/2012 - 14:42 | 2913468 ljag
ljag's picture

Who said anything about dying in Iran. If its allies come into the fray, they could be dying in Florida or New York or............just saying.

Tue, 10/23/2012 - 17:26 | 2914071 Alpha Monkey
Alpha Monkey's picture

I for one think, if an event occurs in Iran, it will not remain localized.  America is past due for a punch in the face.  I believe the next great war will not stay in the middle east, and this time, the explosives and munitions provided to invading forces will not be provided by the FBI and therefore, not fake.

Tue, 10/23/2012 - 22:18 | 2914768 Kiwi Pete
Kiwi Pete's picture

+1 Shameful. As the Syrian people are finding out. The whole 'defence against the evil Israelies' was just a smokescreen there too.

Tue, 10/23/2012 - 14:02 | 2913294 JR
JR's picture

Are sanctions an act of war? For the answer, one would turn to First Lord of the Admiralty Winston Churchill on the purpose of the 1914 blockade of Germany to “starve the whole population – men, women, and children, old and young, wounded and sound --- into submission.”

That’s not peace and negotiation; that’s war.

Insurance ban cuts into Iran's oil trade with China

October 19, 2012

(Reuters) — Iranian crude volumes received by China have been below contracted levels since September, because Iran's tanker fleet, the sole transporter of its crude to China, has been struggling to meet delivery schedules, trade sources said on Friday.

Iran, grappling with tough Western sanctions targeting its energy and petrochemical sectors, has delayed loading of some shipments for September, October and November to China, its largest oil customer and top trading partner.

The delays are further evidence the National Iranian Tanker Co. is struggling to meet delivery schedules after a European Union insurance ban caused buyers to cut back on orders, forcing NITC to deploy more than half of its tanker fleet to store oil.

"What was nominated was different from what was actually loaded," said one Chinese buyer, who declined to be identified because he was not authorized to speak to the media.

"Almost every cargo was delayed, some were even delayed for 10 to 15 days."

China is expected to have nominated 15.5 million barrels of Iranian crude for September, roughly 520,000 barrels per day, which would have required eight very large crude carriers to transport each month. A round-trip voyage between Iran and China takes about 48 days.

The NITC has a fleet of 39 oil tankers including 25 VLCCs. Its plan to expand its fleet, including a $1.2 billion order to have 12 super-tankers to be built in China, has been postponed.

The loading delays for China-bound cargoes were in part caused by the resumption of imports by South Korea, which opted to ship in via Iranian tankers because it faced difficulties in securing insurance elsewhere for vessels.

Tue, 10/23/2012 - 19:24 | 2914412 Urban Redneck
Urban Redneck's picture

Sanctions and blockades are completely different tactics, if your knowledge of the law is so remedial, then perhaps you should not toss around words like "act of war."

Tue, 10/23/2012 - 22:49 | 2914820 JR
JR's picture

Since I have learned to read, I have discovered what the word “starvation” means, and what the words hunger and disease without medicine and complete poverty to the point of death mean. There is one approach to achieve this with a targeted population and it can be followed with a boycott, with sanctions or with continual bombing of infrastructure.

These actions are not conversation, they are not negotiations; they are not even email greetings; they are war. And for those who would protest that this is not the case, one would only wonder who in the world they are and what their real motives might be.

Tue, 10/23/2012 - 14:06 | 2913312 Unprepared
Unprepared's picture

Both candidates seem to agree they would press sanctions on Iran until it foregoes its nuclear ambitions.


I was lunatically wishing a follow-up question of the sort "How would you know Iran is giving up on those ambitions, and it's therefore time to reverse the sanctions?"


I cannot think of any answer that would not expose what this is all about; it has nothing to do with what Iran is doing or saying but rather a set/dictated agenda.

Tue, 10/23/2012 - 15:29 | 2913637 Harbanger
Harbanger's picture

"I was lunatically wishing a follow-up question of the sort "How would you know Iran is giving up on those ambitions, and it's therefore time to reverse the sanctions?"

Transparency.  It's all based on UN reports.  Not allowing the United Nations inspectors the acces they request, so they can give Iran a clean bill of "no nukes" health.  The sanctions could never be justified if they allowed inspections by the UN.

Tue, 10/23/2012 - 16:02 | 2913785 TheFourthStooge-ing
TheFourthStooge-ing's picture

Harbanger said:

Transparency.  It's all based on UN reports.  Not allowing the United Nations inspectors the acces they request, so they can give Iran a clean bill of "no nukes" health.

Total bullshit. Iran is fully compliant with all obligations of the Non-Proliferation Treaty, and IAEA inspectors have full access to Iran's nuclear facilities.

The sanctions could never be justified if they allowed inspections by the UN.

The inspections are continuous and ongoing. The sanctions are technically in violation of the UN charter.

Tue, 10/23/2012 - 16:14 | 2913815 Harbanger
Harbanger's picture

I don't know where you get your News to say "The inspections are continuous and ongoing."  Here's an arcticle I read last week from Reuters about the relationship between Iran an UN inspectors.   There is NO cooperation.

"The IAEA, a Vienna-based U.N. agency tasked with preventing the spread of nuclear arms in the world, is trying to revive its bomb research investigation that has made no substantive headway for four years because of Iranian non-cooperation"

Tue, 10/23/2012 - 23:37 | 2914884 TheFourthStooge-ing
TheFourthStooge-ing's picture

Harbanger said:

I don't know where you get your News to say "The inspections are continuous and ongoing."

It's not really news, since Iran's nuclear activities have been under IAEA observation for decades. Here's something from last year which should provide sufficient background for anyone interested in what has really been happening:

Here's a more recent one:

Here's an arcticle I read last week from Reuters about the relationship between Iran an UN inspectors.   There is NO cooperation.

Speaking of old news, I have to wonder how often Reuters is planning on rerunning that story. This one is specifically about IAEA inspectors wanting to nose around in Parchin, a large (24 square miles) military facility. The article fails to mention two specifics: first, per the terms of the Non-Proliferation Treaty, the IAEA is not entitled to inspect Parchin, and second, even though they weren't obligated to do so, Iran allowed IAEA inspectors into Parchin in January 2005 and November 2005.

"The IAEA, a Vienna-based U.N. agency tasked with preventing the spread of nuclear arms in the world, is trying to revive its bomb research investigation that has made no substantive headway for four years because of Iranian non-cooperation"

Perhaps Iran would be more cooperative if their efforts at diplomacy and negotiation were accepted instead of being rebuffed with bullying and threats.

Tue, 10/23/2012 - 16:13 | 2913829 RichardP
RichardP's picture

The UN has passed several resolutions recently that require Iran to stop enriching uranium.  Iran has not stopped.  They are therefore not in full compliance with the Non-Proliferation Treaty.  IAEA inspectors need full access to anything/everything they wish to examine - not just Iran's self-identified "nuclear facilites".  To have it otherwise, for Iran to show only what it wants to show, makes the inspectors useless.  Iran has repeatedly denied access to the IAEA inpectors of areas that the inspectors wanted to examine.

Fourth, the U.S. and it's allies are not acting in a vacuum.  There are verifiable reasons why they are acting as they are.

Tue, 10/23/2012 - 18:04 | 2914174 machineh
machineh's picture

... while Israel, with 200 nukes, is NOT EVEN A MEMBER of the Non-Proliferation Treaty.

Chutzpah, anyone?

Tue, 10/23/2012 - 18:59 | 2914361 JR
JR's picture

Here’s how Paul Craig Roberts recently exposed the big lie that Israel uses to blame Iran for what she in fact does in How the Government’s Lies Become Truth:

Americans have been told that if Iran doesn’t have nukes, it has a nuke weapons program. This is what the politicians of both parties, the media, and the Israel Lobby tell them. Americans are told this despite the facts that the CIA and the National Intelligence Estimate stick to the conclusion that Iran abandoned its flirtation with a nuclear weapon in 2003 and the International Atomic Energy Agency inspectors on the ground in Iran report no evidence of a nuclear weapons program and no evidence of any diversion of enriched uranium to a weapons program.

Moreover, what could Iran do with a nuclear weapon, other than use it against an aggressor? Any offensive use would result in Iran’s destruction.

Why do Americans believe Iran has nukes or is making nukes when the CIA says they are not? The answer is that Netanyahu says so, and the elected members of the US government in the House, Senate, and White House are afraid to contradict the Israeli prime minister, as are the American print and TV media. Some “superpower” we are! The “indispensable people” have to grovel in the dirt before Netanyahu. Americans are not even aware of their shame.

Iran, unlike Israel, signed the nuclear non-proliferation treaty. Signatories to the treaty have the right to nuclear energy. Nuclear energy requires a low level of enrichment, 5% or less. The minute Iran announced a nuclear energy program, the Israeli government and its prostitutes in Washington lied that Iran was building a bomb. For exercising its legal rights under the treaty, Iran has been painted as a rouge criminal state and demonized.

A nuclear weapon requires 95% enrichment. To get to 5% from scratch and then to 95% is a long drawn out process. I think I first started hearing Israeli government claims of an Iranian nuke back in the 1990s of last century.

When Iran announced that, in view of the sanctions imposed by the US, sanctions that affect medical supplies, Iran was going to enrich uranium to 20% in order to supply itself with medical isotopes, the Israeli allegations that this would lead to a bomb resulted in Iran saying that the Iranian government was content for France or some other country to supply their medical isotopes and would not pursue enrichment beyond energy requirements. The US and Russia were also mentioned as suppliers.

According to the NY Times on September 29, 2011, “the Iranian president told the Washington Post and later, in basically the same terms, the New York Times: ‘if you [the United States and Europe] give us uranium grade 20 percent now, we will stop production.’”

On Israel’s orders Washington vetoed the Iranian concession. Solving the problem is not what the Israeli government wants. The problem has to be kept alive so that it can be used to foment an attack on Iran.

The Iranian nuke is one of those grand hoaxes, a lie designed to hide the real agenda.

What is the real agenda?

The real agenda hiding behind the hysterical concern about an Iranian nuke, is the rightwing Israeli government’s design on the water resources of southern Lebanon.

Tue, 10/23/2012 - 19:51 | 2914475 Againstthelie
Againstthelie's picture

Thank you.

Can all people, all cultures in all times be really wrong with their characterization of jews?

Wed, 10/24/2012 - 00:24 | 2914955 TheFourthStooge-ing
TheFourthStooge-ing's picture

It's not the Jews that are causing these problems, it's the Zionists. The Zionists see Jews as just another breed of human cattle and would herd them into the abattoir as quickly as they would Palestinians.

They specialize in creating problems for which the Jews are blamed, and then present themselves to their "brothers" as their only saviors in a world full of Jew haters. It's nothing more than applied Hegelian dialectics.

Wed, 10/24/2012 - 00:05 | 2914934 TheFourthStooge-ing
TheFourthStooge-ing's picture

RichardP mistakenly asserted:

The UN has passed several resolutions recently that require Iran to stop enriching uranium.

Under what authority? The Non-Proliferation Treaty specifically allows signatory countries to enrich uranium under IAEA safeguards. This is what Iran has been doing.

I recommend the following article as it clarifies many points on this issue, including how the sanctions against Iran are in violation of the UN charter:

Iran has not stopped.  They are therefore not in full compliance with the Non-Proliferation Treaty.

Flat out wrong.

IAEA inspectors need full access to anything/everything they wish to examine - not just Iran's self-identified "nuclear facilites".

Since they're not entitled to full access to anything/everything, perhaps they should ask permission in a civilized manner instead of demanding it.

To have it otherwise, for Iran to show only what it wants to show, makes the inspectors useless.  Iran has repeatedly denied access to the IAEA inpectors of areas that the inspectors wanted to examine.

Not true. The inspectors would like to pay another visit to the Parchin military facility. Under no obligation to do so, Iran allowed them to visit the facility twice in 2005:

Fourth, the U.S. and it's allies are not acting in a vacuum.  There are verifiable reasons why they are acting as they are.

You got that one right. The verifiable reasons for the actions of the US and its allies have nothing to do with Iran's nuclear program. They have to do with forcing regime change and the desire to be able to attack Iran at will without fear of retaliation:


Tue, 10/23/2012 - 14:07 | 2913313 terryfuckwit
terryfuckwit's picture

fuck off!! sorry meant for the who is tyler question??

Tue, 10/23/2012 - 14:09 | 2913322 Magnum
Magnum's picture

Most of the highly productive countries in the world that actually grow staple food such as rice, and manufature goods (China, Thailand, Vietnam), are loaded with citizens who want GOLD.  So it seems a perfect match.  Thailand had a good rice crop in 2012 and there's still plenty in storage.  So you want to buy Thai rice?  Send them some gold.  Vietnamese to make you garments?  Send them gold!  And for those lucky enough to have plenty of the mother lode commodity (OIL) sell it for GOLD.  

Buffet made a quote about gold causing confusion among aliens but there is nothing more curious about a huge nation, with money changers making all important decisions, exerting influence around the world using only paper promises.

Smart money says Iranian wealth continues to grow.  Throughout history the moneychangers always get carried away with arrogance and poison their hosts.  It's happening before our very eyes.

Tue, 10/23/2012 - 14:20 | 2913374 resurger
resurger's picture

The UAE has some plitical conflicts with Iran on the Greater and Lesser Tanub & Abumussa Islands.

Dubai is somehow secular to politics and they trade openly with Iran unlike the capital Abu-Dhabi and their Sheikhs.

Tue, 10/23/2012 - 14:36 | 2913429 mccoyspace
mccoyspace's picture

If you want to see what the dhow shipping port looks like in the UAE, here is a drive-by video i shot a few years back. They send a lot of these boats back and forth to Iran. Low tech and direct.

Tue, 10/23/2012 - 14:57 | 2913533 Hannibal
Hannibal's picture

With their centuries old relationships/connections, Persian traders are always finding ways to establish yet an other silk route. Unbeatable!

Tue, 10/23/2012 - 15:16 | 2913598 Scalaris
Scalaris's picture

And just imagine the amount of Iranian rials that can be produced, by quintuple-rehypothecating this gold.

Or create a new value-based currency, based on oil & gold, through a Russo-Sino-Pakinstani periphery agreement.

Tue, 10/23/2012 - 15:26 | 2913631 helping_friendl...
helping_friendly_book's picture

It has got to be Jon Corzine?

I thought we went to war over such trivial violations of the petro-dollar statue.

Tue, 10/23/2012 - 16:11 | 2913819 dscott8186
dscott8186's picture

Since the plan to replace the USD sales of oil with the Euro has largely failed due to the problems in Europe, gold is the logical choice to value a barrel of oil. Once this is done when x barrels of oil = y troy oz gold the governments of West will fall.  Why?  Because devaluing a currency will then directly spark hyper inflation via rising energy costs since the value of oil and gold are locked together. Any spike in the price of gold immediately means a spike in the price of oil.  So when Iran rattles the sabre at her neighbors, the price of oil goes up and therefore the price of gold goes up.  The Fed will immediately lose its power to print money because of the dire consequences of doing so.  Then comes the market correction sweeping away the banks and all those derivatives owned by the stock brokers.  

Someone is going to greatly regret printing all those USDs to effectively lower the value of oil, this is Saddam Hussein's revenge from beyond the grave.  

For those of you who don't get the end game of Obama's Green Energy (Obama's foreign policy) via soft power, you will when the price of oil goes to $200/barrel which is when green energy is at cost parity with conventional energy.  Obama's green profiteering friends are running out of time to reap the rewards of instability in the Middle East.  This is why Obama has given 20 waivers on the Iranian economic embargo, he needs Iran to make trouble thus he keeps them alive.  Obama has played everyone for the fool.  

Tue, 10/23/2012 - 16:45 | 2913955 walcott
walcott's picture

Paper cotracts. Then again go ahead Iran stockpile gold! And once the bombing starts? It's gone.

Saddam had a bunch of gold toilets that the prick shit in and he splits to a spider hole with dollars.

Can't eat it can't wipe your ass with it Mullah mofos.

Iran is toast.

Tue, 10/23/2012 - 17:01 | 2914002 compound interest
compound interest's picture

Great report, thanks

Tue, 10/23/2012 - 17:14 | 2914034 Heyoka Bianco
Heyoka Bianco's picture

"What is disturbing, is that Dubai is now joining in the party too, and the three way transaction may soon become the template for all other countries which are not afraid to suffer the embargo wrath of Uncle Sam".

Why is that disturbing? The petrodollar is a huge millstone around the neck of any real free market in the world, has virtually made necessary the dip-shitted off-shoring of almost every US industry, allowed the shitheads in DC to pile up a 16 trillion and growing debt, and should've died with that sorry fuck who inaugurated it, if not earlier.

Tue, 10/23/2012 - 19:11 | 2914390 el Gallinazo
el Gallinazo's picture

Nah, Kissenger is still sort of alive.

Tue, 10/23/2012 - 17:21 | 2914054 Mr. Hudson
Mr. Hudson's picture

I just talked to a businessman from India. He told me that no one in India ever buys a house, or land, with borrowed money from a bank. They make their purchaces with gold. Indians use gold as money on many trades. In India, gold is money.

Tue, 10/23/2012 - 17:58 | 2914153 lesterbegood
lesterbegood's picture

It appears that someone is trying to sever the petrogold pipeline:

Tue, 10/23/2012 - 18:45 | 2914296 GrinandBearit
GrinandBearit's picture

Stare at that picture, let it go out of focus, then say to yourself... "Kirk to Enterprise"

Tue, 10/23/2012 - 20:18 | 2914544 Freewheelin Franklin
Freewheelin Franklin's picture

They could always trade oil for bitcoins.

Tue, 10/23/2012 - 20:33 | 2914572 Tunga
Tunga's picture

Wikipedia fails to mention how opium traveled the silk road too. Of course not. What were the opium wars fought over anyways? Wiki can't remember either.


Tue, 10/23/2012 - 21:19 | 2914666 Julian
Julian's picture

Now all we need to do is marry bitcoin with gold and we will have a decentralised and anonymous trading system which will dispace USD and Central Banks. Real currency in other words.

Tue, 10/23/2012 - 21:20 | 2914667 Julian
Julian's picture

Now all we need to do is marry bitcoin with gold and we will have a decentralised and anonymous trading system which will dispace USD and Central Banks. Real currency in other words.

Tue, 10/23/2012 - 22:39 | 2914799 notjimmy
notjimmy's picture

Overheard in the Emirates Lounge in Dubai:  "Just flew in from Ataturk and, boy, are my arms tired."

Wed, 10/24/2012 - 12:26 | 2915963 thewhitelion
thewhitelion's picture

So if I understand, we are punishing Iran by cutting them off from the dollar, and forcing them to accept gold.  Hmmmm. . .

Do NOT follow this link or you will be banned from the site!