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New U.S. Sanctions To End "Turkey's Game Of Gold For Natural Gas"

Tyler Durden's picture




From GoldCore Gold Bullion

New U.S. Sanctions To End "Turkey's Game Of Gold For Natural Gas"

Today’s AM fix was USD 1,741.00, EUR 1,347.00, and GBP 1,087.38 per ounce. 
Yesterday’s AM fix was USD 1,747.25, EUR 1,349.54, and GBP 1,090.46 per ounce.

Silver is trading at $33.80/oz, €26.32/oz and £21.23/oz. Platinum is trading at $1,605.00/oz, palladium at $652.25/oz and rhodium at $1,065/oz.


Cross Currency Table – (Bloomberg)

Gold and silver appear to be consolidating after their recent gains. Gold fell $7.10 or 0.41% in New York yesterday and closed at $1,741.30. Silver slipped to a low of $33.92 and finished with a loss of 0.23%.

Gold remains unchanged on Wednesday and is likely being supported by the realisation that the Greek bailout deal may not be the success it was hailed to be, and also the time is running out for negotiations on the US fiscal cliff.


Gold Spot $/oz, 2007-2012 – (Bloomberg)

Gold prices will rise in 2013 Citi has said and gold remains one of their favoured commodities.

Despite some investors turning less bullish on gold, Citi continues to be bullish on gold in 2013. President Obama's victory was expected to be positive for gold since it would benefit from "a continuation of dovish monetary policy". Gold prices have also been supported by central bank gold purchases. Moreover muted gold demand in India is expected to have picked up during Diwali.


Silver Spot $/oz, 2007-2012 – (Bloomberg)

The yellow metal’s appeal is still strong as evidenced by recent investments by Soros, Paulson and other respected hedge fund managers. This buying and buying by other institutions such as PIMCO has led to continuing growth in holdings of the SPDR Gold Trust, the world's largest gold-backed ETF, which hit a record high of 1,345.813 tonnes on November 27th.

Global gold ETP holdings have climbed to a record for an eighth straight session showing robust demand for gold. The amount in exchange-traded products backed by the metal rose 0.2% to 2,612.1 metric tons, data tracked by Bloomberg showed.


Total Known ETF Holdings of Gold, 2002-2012 – (Bloomberg)

In its weekly note on technicals, Commerzbank said gold is supported by a short-term uptrend at $1,735. "We will retain our bullish view while the current November low at $1,672.50 underpins," it said in its note picked up by Thomson Reuters. 

"Support above this level can be seen at $1,739.09/$1,737.17 (9 November high and late September low) as well as around the mid-November $1,705.66 low and around the minor psychological $1,700 mark. Only if unexpectedly fallen through, would our short term bullish view be neutralised."

Currency wars are set to intensify as the US Senate is considering new sanctions against Iran that would prevent Iran getting paid for its natural resource exports in gold bullion.

The new sanctions aimed at reducing global trade with Iran in the energy, shipping and precious metals sectors may soon be considered by the U.S. Senate as part of an annual defense policy bill, senators and aides said on Tuesday, according to Reuters.

The sanctions would end "Turkey's game of gold for natural gas," Reuters reported a senior Senate aide as saying, referring to reports that Turkey has been paying for natural gas with gold due to sanctions rules.

The legislation "would bring economic sanctions on Iran near de facto trade embargo levels with the hope of speeding up the date by which Iran's economy will collapse," the aide said.

Last week Turkish Deputy Prime Minister Ali Babacan has revealed a critical detail about a widely discussed Turkey-Iran gold trade boom, disclosing that the Islamic republic was exporting gas to Turkey in exchange for payment in gold bullion. 

It is also reported that Iranians are buying Turkish gold with the Turkish Lira, which is deposited into their bank accounts in exchange for Turkey’s natural gas purchases, the deputy prime minister said at midnight Nov. 22 during a parliamentary session. 

Iran cannot transfer monetary payments to Iran in U.S. dollars due to U.S sanctions against the country’s alleged nuclear weapons program.

Iran has been forced to shun the international financial system and the petrodollar as means of payment and turn to the international gold market to ensure it gets paid for its natural resources in order to prevent absolute economic collapse.

The law of unintended consequences may apply here and should the Iranian currency and economy collapse there is likely to be a war with Israel and turbulence in the Middle East akin to, if not worse, than that seen in the 1970’s. 

NEWSWIRE
(Bloomberg) -- IShares Silver Trust Holdings Unchanged at 9,818 Metric Tons
Silver holdings in the IShares Silver Trust, the biggest exchange-traded fund backed by silver, were unchanged at 9,818.07 metric tons as of Nov. 27, according to figures on the company’s website.

================================================================================

                Nov. 27    Nov. 26    Nov. 23    Nov. 21    Nov. 20    Nov. 19

                   2012       2012       2012       2012       2012       2012

================================================================================

Million Ounces  315.658    315.658    315.658    315.658    317.643    318.127

 Daily change         0          0          0 -1,984,433   -484,013 -1,452,093

--------------------------------------------------------------------------------

Metric tons    9,818.07   9,818.07   9,818.07   9,818.07   9,879.80   9,894.85

 Daily change      0.00       0.00       0.00     -61.73     -15.05     -45.16

================================================================================

NOTE: Ounces are troy ounces. 


I Shares Silver Holdings Index, 2002-2012 

(Bloomberg) -- Bank of Korea May Buy More Gold, Maeil Business Newspaper Says
Maeil Business Newspaper cites an unidentified BOK official.

BOK may increase gold within this year.

(Bloomberg) -- SocGen Advises Buying Gold in One of ‘Seven Key Calls’
“Gold should benefit from additional U.S. monetary easing. Inflation-linked bonds and mortgage-backed securities should also benefit,” bank says in Multi Asset Portfolio report.

Gold is poised for 12th consecutive annual advance after rising 12% since start of January.

NOTE: 12 annual gains would be longest winning streak since at least 1920, data compiled by Bloomberg show.

For breaking news and commentary on financial markets and gold, follow us on Twitter.       

NEWS

Gold flat as investors shift focus to US fiscal talks - Reuters

Gold Drops as U.S. Budget Concern Counters Record ETP Holdings - Bloomberg

China Not Named Currency Manipulator – UPI.com

Dimon Best to Lead Treasury in Crisis, Buffett Says - Bloomberg

Gold coin jump starts slow charity campaign - Chron

US Mint Sales Report: 2012 Proof Gold Eagles Move Higher – Coin Update

COMMENTARY

Video - Faber: Prepare For A Massive Market Meltdown - CNBC

Custody arrangements reduce security for GLD and SLV shareholders - GoldSeek

Can we trust China’s gold reserve figures – or anyone else’s either - Mineweb

Immutable Gold Laws – Market Oracle

Prepare for a Possible Price Spike in Gold & Silver – Resource Investor




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Wed, 11/28/2012 - 09:21 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

We'll just ban gold....that will fix them.

Wed, 11/28/2012 - 09:32 | Link to Comment HoofHearted
HoofHearted's picture

But but but...gold is just a tradition. Next theyll ban Santa Claus. And Americans wouldn't put up with that shit. But banning gold, well, we've done that before. Thank you FDR, you asshole. I hope you get polio or something.

Wed, 11/28/2012 - 10:16 | Link to Comment CPL
CPL's picture

http://www.france24.com/en/20121124-turkey-reveals-iran-gold-gas-trade-o...

 

Not sure why anyone is surprised.  Everyone is in the gold oil trade now.  If the US pushes it's reserve status, it's going to lose Turkey and it's MENA plan will collapse the next day.

Wed, 11/28/2012 - 10:50 | Link to Comment DaveyJones
DaveyJones's picture

innevitable really and as things push on, the only law the US will follow, is the law of unintended consequences 

Wed, 11/28/2012 - 15:05 | Link to Comment hawk nation
hawk nation's picture

innevitable really and as things push on, the only law the US will follow, is the law of "brute force"

Fixed it for ya

Wed, 11/28/2012 - 15:44 | Link to Comment Half_A_Billion_...
Half_A_Billion_Hollow_Points's picture

do you even realize that there's a massive suicide epidemic on our troops?  That our generals are getting tired of this shit?  THAT THIS THIS GAME OF ENDLESS WARS IS GOING TO END SOON?

Wed, 11/28/2012 - 09:34 | Link to Comment 13thWarrior
13thWarrior's picture

Something is up. Singapore removed GST from bullion bars and coins.

Wed, 11/28/2012 - 09:57 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

http://www.bullionstreet.com/news/singapore-to-scrap-gst-on-gold-to-lure-bullion-refiners-traders/1137

Link to the Singapore GST (general services tax) comment above...

Wed, 11/28/2012 - 10:14 | Link to Comment CPL
CPL's picture

Singapore also cut ties with the US in an interesting way over the weekend.

 

http://flyawaysimulation.com/news/4659/singapore-airlines-terminates-non...

 

You can now wait in Singapore forever for a plane ride back to the US.  Other news on Singapore/US relations are just as weird.  It's been cutting one string at a time over the last three weeks.  Like a slow moving embargo.

 

It's not the only country either.  Past three weeks lots of nations have been slowly isolating the USA and containing it in the strangest ways.

Wed, 11/28/2012 - 10:15 | Link to Comment _ConanTheLibert...
_ConanTheLibertarian_'s picture

This is how it should be. Countries competing. Very good.

Wed, 11/28/2012 - 11:01 | Link to Comment DaveyJones
DaveyJones's picture

competiton is terrorism especially when it is gold or oil  We need some more secret meetings. Call the Court and  make it FOIA proof

Wed, 11/28/2012 - 09:22 | Link to Comment venturen
venturen's picture

Pretty soon all transaction are going to be in gold Bullion...as fiat currencies hyperize. 

Wed, 11/28/2012 - 09:56 | Link to Comment midtowng
midtowng's picture

How could they possibly track these transactions? Gold has no debt attached to it, thus is impossible to track from half a world away. These sanctions are a joke.

Wed, 11/28/2012 - 09:59 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

"How could they possibly track these transactions"

'They' cannot track the gold but 'they' might be able to track oil movement from Iran to Turkey... maybe

Wed, 11/28/2012 - 10:20 | Link to Comment CPL
CPL's picture

They are a joke.  Everyone knows the writing is on the wall for USD.  South Korea, India, China...shit all of Asia is doing gold for oil with Iran.  Even England is doing gold/oil swaps.  Iran shoudl be on the look out for counter fiet gold though if recieving from any nation using the Fort Knox or the Bank of England (Carney is so fucked).

 

First bogus bar that shows up from a country is the first country to miss it's energy targets and go dark the same week.

Wed, 11/28/2012 - 11:07 | Link to Comment e-recep
e-recep's picture

hmm, that makes me think : if the dollar fiat collapses, i.e. hyperinflation, other fiats may still survive. if the usa wants to drag the whole world down with itself, it has to cause trouble and start wars all over the world.

Wed, 11/28/2012 - 09:24 | Link to Comment fonzannoon
fonzannoon's picture

Hey why did gold just fall 20 bucks in like a half a second?

Wed, 11/28/2012 - 09:26 | Link to Comment crusty curmudgeon
crusty curmudgeon's picture

I'm game..."what is a buying opportunity?"

Wed, 11/28/2012 - 11:29 | Link to Comment cynicalskeptic
cynicalskeptic's picture

Standard COMEX games.  slam the price down to dissuade those holding buy contracts and more MOPE to make fiat look better

But China buys the dips and TAKES deliver - remelting into 1 kilo bars - makes sure it's all gold AND also converts to preferred Asian form  (this has the side effect of permanently removing it from the London market which requires 400 oz bars).  The west is hemmoraghing gold in a futile effort to keep western fiat looking good in comparison.

Wed, 11/28/2012 - 09:23 | Link to Comment fonzannoon
fonzannoon's picture

Hey why did gold just fall 20 bucks in like a half a second?

Wed, 11/28/2012 - 09:28 | Link to Comment Orly
Orly's picture

Because gold at these levels is a risk trade, not a "store of value" trade.  The gold price topped last July.

Wed, 11/28/2012 - 09:32 | Link to Comment fonzannoon
fonzannoon's picture

That may be a great thesis Orly and I am open to it,  but that does not explain a $20 plus decline in 1 second. You seem to be a great big picture thinker. If you are trying to rationalize what just happened and are trying to explain it away that does not fly. Sorry.

If the dow drops 300 pts in the next 2 seconds and I tell you that is because we put the highs in for the dow in 2008 does that make sense?

Wed, 11/28/2012 - 09:39 | Link to Comment Quinvarius
Quinvarius's picture

You can't talk sense into someone who doesn't understand the fiat currency system is collapsing.

Wed, 11/28/2012 - 09:45 | Link to Comment AlaricBalth
AlaricBalth's picture

More and more regular folks are beginning to wake up to the realization that their currency is "just paper".

Wed, 11/28/2012 - 09:51 | Link to Comment GMadScientist
GMadScientist's picture

Now if they could just make that final leap to money is "just a concept"...

Wed, 11/28/2012 - 10:01 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

James Turk has some interesting comments about the timing of collapse... over at KWNews.

hint... soon

Wed, 11/28/2012 - 11:11 | Link to Comment e-recep
e-recep's picture

well, how soon?

Wed, 11/28/2012 - 09:48 | Link to Comment chubbar
chubbar's picture

I think Turd came out with a study on some recent past drops that had unknown traders doing a coordinated dumping of something like 1/3 of a years production in 10 minutes or so. I'm not aware of any trading strategy that calls for dumping trades like that in an effort to get the absolute worst price for your gold.

 A poster on another thread pointed out that options expiry is Friday and they need gold down to bring the calls out of the money. Just the usual shit that the bankers pull with the acquiessence of Bart Chilton and the CFTC. It works until it doesn't. One of these days the COMEX will find everyone standing for their gold regardless of how badly they beat down the price prior to expiry.

Wed, 11/28/2012 - 10:25 | Link to Comment Orly
Orly's picture

I am not trying to rationalise anything, nor am I trying to "explain it away."

I am saying:

  • The move was in paper, which will affect the price of "phyzz."
  • The market is so thin as to be easily manipulated.  Much more so than say, the Euro.  This would imply that once they say it's over and you're on the toilet, you're toast.
  • It was a 1.1% move.  That's not huge but it is certainly concerning because it was done so easily...and because, last but not least:
  • You seem quite upset by the fact that the rug can be taken out from under you on a whim.  Maybe next time, for good.  My advice would be that if those moves upset you so, then you should get out now while the getting is good and sleep much better at night.

Believe me, I am not trying to justify anything, nor am I trying to tell you what to do.  It is just unsettling to see you upset after all you've been through so far this year alone.

The charts don't lie: gold will fade down from here.  There's not going to be any apocalypse, despite the fact that a lot of guys on this board would like nothing more than to play Mad Max with their guns, gold and ground theories.  They don't realise that if that scenario were to unfold, the last thing you're going to need is a heavy hunk of metal that people would kill to steal.

Okay, man.  I've said my peace.  You know where I stand, so I'll leave it at that and say simply good luck to you all!

:D

Wed, 11/28/2012 - 11:53 | Link to Comment fonzannoon
fonzannoon's picture

I admit it still chaps my ass to see a market that I full well know is manipulated....get manipulated. That is on me. But that is all it was, manipulation. I am not even denying your point about what your chart tells you. Gold may in fact be heading down right now. But that particular move this am was nothing but manipulation. If gold was a risk trade then why is it still down 30 bucks as the rest of the market just erased all it's losses? This move today reeks of something.

I know full well you are not a gold bug. Neither am I. I do think that the plan is to kill the dollar. Maybe not armageddon, but they are going to inflate our way out and it's going to hurt. So when you say that I should get out so I sleep at night, you are saying I should get back into the dollar. I struggle with doing that. I have a bit of both. But I hear you.

What is interesting to me is how you freely admit that there is manipulation taking place and yet still would rely on a chart. If there are bigger forces at work which we seem to both admit, it kind of renders the chart somewher less useful.

I also agree with you about there being no apocalypse. I think this is just flat out financial repression, and it will go on and on. People will go broke one at a time.

Either way I was not trying to pick a fight or just bitch and moan. That move this morning was undeniable though, it was not fundamentals at all.

Wed, 11/28/2012 - 12:15 | Link to Comment negative rates
negative rates's picture

You could convert your holdings to diamonds (do your homework real well) and diamond Rolex watches. You can wear 20 watches and pocket the remaining diamonds and cash as you walk out the door. Now you ARE, good to go.

Wed, 11/28/2012 - 12:52 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Diamonds, watches, llamas, Bolivian dirt farmer militias, private cliffside retreats powered by cold fusion reactors.  I'm high on all five, per Simon Black.

jk ... we few, we proud ...

Wed, 11/28/2012 - 15:36 | Link to Comment negative rates
negative rates's picture

Personally, I never carry more $50 on me at one time. I find I spend less that way. Plus the 30 lbs of basil and greek oregano I carry on my back, can be used with any local tomato farmer at any time in history. At least where you can grow maters.

Wed, 11/28/2012 - 12:20 | Link to Comment pocomotion
pocomotion's picture

If u believe in cycles, like me, you know that this is a normal move in gold. 

Wed, 11/28/2012 - 09:39 | Link to Comment mick_richfield
mick_richfield's picture

Because gold at these levels is a threat to the criminal financial cartel that now controls many governments and most markets around the globe, and they are so frightened that they no longer care if their actions are dead obvious.

Their blatantly criminal worldwide fiat currency and central banking system is so nearly nonfunctional that they can no longer afford subtlety, depending instead on their control of the media, including the use of paid shills (and unpaid fools) on boards like these, in hopes of confusing the issue for a little longer.

Wed, 11/28/2012 - 10:49 | Link to Comment Ignatius
Ignatius's picture

Right.  We're playing a game of 'Who's the criminal?'

"Turkey's game of gold for natural gas." 

Perhaps they're just cold being November and all, or maybe their toasters work better with electricity?  Naw, can't be that, they're just playing a "game".

 

Wed, 11/28/2012 - 12:27 | Link to Comment DaveyJones
DaveyJones's picture

Dead on. All criminals behave this way as they get cornered.  Still the bigger criminal is the government.  We expect this from bankers.  The government has let itself get taken over.  This is not a burglary, it's a conspiracy

Wed, 11/28/2012 - 09:30 | Link to Comment negative rates
negative rates's picture

That paper mkt can gyrate from calls alone. Look at how much it cost to buy physcial, it can go up just as fast as paper goes down. you will sleep better at night too.

Wed, 11/28/2012 - 09:29 | Link to Comment Quinvarius
Quinvarius's picture

Load up and be happy about it.

Wed, 11/28/2012 - 10:35 | Link to Comment darteaus
darteaus's picture

1)  Win $500M lottery.

2)  Buy gold, ammo, Zimbabwe.

Wed, 11/28/2012 - 14:26 | Link to Comment Anasteus
Anasteus's picture

Exactly, the cartel has been doing its best to help the gold bugs load up as long as possible until it's definitely late. One should send them a buck instead of complaining.

Keep in mind that as long as the price is artificially suppressed gold cannot enter a bubble phase and the upward drift is therefore guaranteed. Whatever the cartel is doing is, in the end, positive for gold. Gold (and silver) is an outstanding asset when viewed from any aspect; that's perhaps because it's not an asset at all but sound money.

To be a gold bug is a thrilling adventure. One is demonstrably cut off from sheeple pursuing its own way towards individual liberty. Gold materializes the effort of gradual development of self-esteem, discipline, patience, independence and responsibility. One has to resist the panic when things go temporarily wrong and to bear the consequences practically alone on one side as well as to keep calm when things go excessively well on the other side, which helps build up stronger and balanced personality. Going against the herd mentality requires relying on one's own knowledge, thinking and experiments that is somewhat comparable to pioneer exploration of a new land with all associated dangers and pitfalls one can possibly come across. Gold is much more than just piling up more wealth. I see it a way of transforming manipulable and dependent herd mentality into valuable mature personality.

Wed, 11/28/2012 - 15:01 | Link to Comment hawk nation
hawk nation's picture

I like the way you think

Wed, 11/28/2012 - 09:32 | Link to Comment merizobeach
merizobeach's picture

Still dropping...

Wed, 11/28/2012 - 09:39 | Link to Comment Offthebeach
Offthebeach's picture

As if anyone who knew, if anyone could know, they would tell? Right?
Duh.

Wed, 11/28/2012 - 10:34 | Link to Comment darteaus
darteaus's picture

Because I want it to!

Wed, 11/28/2012 - 09:24 | Link to Comment crusty curmudgeon
crusty curmudgeon's picture

"the realisation that the Greek bailout deal may not be the success it was hailed to be"

This just never gets old.

Wed, 11/28/2012 - 10:51 | Link to Comment MachoMan
MachoMan's picture

Apparently the algos don't have a "credibility" meter...

Wed, 11/28/2012 - 09:24 | Link to Comment Quinvarius
Quinvarius's picture

Is this going to be the double secret embargo?  LOLZ

Wed, 11/28/2012 - 10:08 | Link to Comment BlueCollaredOne
BlueCollaredOne's picture

Economic sanctions are an act of war that hurt citizens more than the corrupt elite of any given country.  

One only has to look at Saddam era Iraq, and present day North Korea to see who is really effected.  

Wed, 11/28/2012 - 10:10 | Link to Comment knukles
knukles's picture

Correct.

Under international law/treaties, economic sanctions that deny access to international funds transfer mechanisms are defined as an "act of war."

(I don't remember where I'd read/researched that but it was from a recognized, proper legal source.  Is a fact.  Real fact as in truth, not conspiracy fact.  Sorry, I do not have the citation handy nor am I going to dig about for it...)

Wed, 11/28/2012 - 09:26 | Link to Comment koaj
koaj's picture

 

Currency wars are set to intensify as the US Senate is considering new sanctions against Iran that would prevent Iran getting paid for its natural resource exports in gold bullion.

--------------

this defines US foreign policy since 1973...FU Kissinger! FU petrodollar...1m deaths to keep the dollar as the reserve currency...what a fucking waste

 

Wed, 11/28/2012 - 09:26 | Link to Comment negative rates
negative rates's picture

America the evil.

Wed, 11/28/2012 - 09:39 | Link to Comment Chump
Chump's picture

Our government's arrogance knows no bounds.

Wed, 11/28/2012 - 10:33 | Link to Comment darteaus
darteaus's picture

Yeah!  How I wish we could have a government like the Chinese or the Russians or the Greeks!

Wed, 11/28/2012 - 10:42 | Link to Comment Chump
Chump's picture

Is this the "my guy is less shitty than your guy" argument scaled up or something?

Wed, 11/28/2012 - 11:01 | Link to Comment Acet
Acet's picture

"Sure, in America we don't really get to vote in the man we want, only the TPTB-anointed puppets, our markets are manipulated up the wazzoo, people can be arrested and held without warrant, habeas corpus has been suspended for anybody tagged as a "terrorist", the government eavesdrops on pretty much anybody without judicial oversight, the media is in the hands of a couple of people who use it for propaganda, millions of people are on food stamps but .... at least we're not North Korea!"

Wed, 11/28/2012 - 11:16 | Link to Comment darteaus
darteaus's picture

...yet.

Wed, 11/28/2012 - 12:35 | Link to Comment DaveyJones
DaveyJones's picture

we're going to have to hold you without bail for that comment.

Wed, 11/28/2012 - 09:42 | Link to Comment mick_richfield
mick_richfield's picture

I prefer to distinguish between America, and the United States.

America is the land, and its people.  The United States is the government that decided, starting a century and a half ago, to enslave Americans.

 

Wed, 11/28/2012 - 10:58 | Link to Comment Abitdodgie
Abitdodgie's picture

Did you know the United States has not had a Government since 1871 , when the UNITED STATES OF AMERICA a corporation started inpersonating the Government. Go ahead chalenge them to demonstrate that todays Gov't is the same one as establised at the inception of this country , and not a Corporation. They cannot do it .

Wed, 11/28/2012 - 11:13 | Link to Comment venturen
venturen's picture

Is that when goldman was founded?

Wed, 11/28/2012 - 09:26 | Link to Comment PUD
PUD's picture

This is good! Keep backing the rat into the corner. What could go wrong? After all, America and Christianity are morally superior...and jewery...so we can have the nukes and no one else...cept the racist S Africans who are also white. Amen

Wed, 11/28/2012 - 09:35 | Link to Comment darteaus
darteaus's picture

Too many acid trips.

Wed, 11/28/2012 - 09:41 | Link to Comment LongSoupLine
LongSoupLine's picture

or too much time in front of Rush Limbaugh radio.

Wed, 11/28/2012 - 09:54 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Laura Ingraham just surrendered.....perhaps Rush will follow her lead soon.

 

Can't way I blame her......the place is crawling with zombies wielding EBT cards.

Wed, 11/28/2012 - 10:32 | Link to Comment darteaus
darteaus's picture

She's just bunkering up.

Wed, 11/28/2012 - 11:27 | Link to Comment Harbanger
Harbanger's picture

Last time I backed a rat into the corner I smashed his guts open with a broom stick.  He'll never come around here again.

Wed, 11/28/2012 - 09:27 | Link to Comment _ConanTheLibert...
_ConanTheLibertarian_'s picture

Pathetic move by an empire in decline. Petrodollar is going down. Good riddance.

Wed, 11/28/2012 - 09:33 | Link to Comment Quinvarius
Quinvarius's picture

This is all getting very embarrassing for the USA.

Wed, 11/28/2012 - 09:28 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Gives new meaning to the phrase "currency war"...Will need to pop extra corn for the coming scrum.

Wed, 11/28/2012 - 09:32 | Link to Comment youngman
youngman's picture

I changed over to deep fried pig skins....popcorn just wasn´t doing it anymore...

Wed, 11/28/2012 - 09:42 | Link to Comment kralizec
kralizec's picture

War, it's the bomb!

Fire up the fryer and get me a cold one!

Wed, 11/28/2012 - 12:09 | Link to Comment marathonman
marathonman's picture

Pig skins are delicious, plus it disgusts the Islamists.  A true win/win in my book.

Wed, 11/28/2012 - 14:17 | Link to Comment Moronicgenius
Moronicgenius's picture

Don't forget the Frank's red hot sauce, "I put that shit on everything!"

Wed, 11/28/2012 - 09:31 | Link to Comment Mr Kurtz
Mr Kurtz's picture

"Currency wars are set to intensify as the US Senate is considering new sanctions against Iran that would prevent Iran getting paid for its natural resource exports in gold bullion."

Sanction threat solved. From now on the Iranians should exchange natural gas for Israeli shekels.

Wed, 11/28/2012 - 09:34 | Link to Comment darteaus
darteaus's picture

"Gold is too dangerous of a weapon, and it must be controlled."

Wed, 11/28/2012 - 09:35 | Link to Comment jmcadg
jmcadg's picture

At what point do Turkey tell the US to go fuck themselves?

Wed, 11/28/2012 - 09:48 | Link to Comment Orly
Orly's picture

As soon as they have their NATO bags packed...

;)

Wed, 11/28/2012 - 11:14 | Link to Comment darteaus
darteaus's picture

As soon as the Muslim Brotherhood tells them to.

Wed, 11/28/2012 - 13:04 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

With 200 miles of border and ancient settlement and commerce between Iran and Turkey, "GFY" is already priced in.

Wed, 11/28/2012 - 12:19 | Link to Comment epwpixieq-1
epwpixieq-1's picture

No such chance in the near future, as 95% of the Turkish high ranking military officers are US indoctrinated/"educated", unless of course there is a revolution inside if the army and all of the high ranking officers are swept out. And, in Turkey, the Military is the hidden hand controlling everything. In addition most of the Turkish military is with US hardware, so they heavily entrenched, and can not easily turn back of the Big brother. This takes decades in planning, but, of course, there is always the possibility of of military or social movements with no forethought calculated outcomes.

Wed, 11/28/2012 - 09:36 | Link to Comment Dre4dwolf
Dre4dwolf's picture

Obama wants to cut out his competition, he has been sitting on natural gas permits for almost his entire term, time to sell those permits to his insiders for private profit!!! can't have anyone budding in on his action!

Wed, 11/28/2012 - 09:36 | Link to Comment jmcadg
jmcadg's picture

Is Obama Senator Palpatine?

Who is Jar Jar Binks in this?

Wed, 11/28/2012 - 09:38 | Link to Comment Orly
Orly's picture

Lindsey Graham.

Wed, 11/28/2012 - 09:42 | Link to Comment kralizec
kralizec's picture

LOL!  Too good!

Wed, 11/28/2012 - 09:48 | Link to Comment Offthebeach
Offthebeach's picture

IT'S .....Linthy Grawam you swishy goosey-poosey!

Wed, 11/28/2012 - 10:17 | Link to Comment negative rates
negative rates's picture

Another cesspool sewer senator.

Wed, 11/28/2012 - 11:16 | Link to Comment Harbanger
Harbanger's picture

Graham is more like Queen Amidala.

Wed, 11/28/2012 - 09:58 | Link to Comment GMadScientist
GMadScientist's picture

You're thinking of that famous "independent" Joe LIEberman.

Separated at birth?

Wed, 11/28/2012 - 09:43 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

Turkey has a very fragile domestic energy system.

Much of its tax system taxes oil as income is hard to tax

It does have some simple effective transport systems such as the Dolmus bus/ taxis but it looks like a great capital boom / bust ? from where I am looking.

 

omrpublic.iea.org/demand/tu_dl_ov.pdf

 

omrpublic.iea.org/demand/tu_tp_ov.pdf


Wed, 11/28/2012 - 09:42 | Link to Comment cranky-old-geezer
cranky-old-geezer's picture

 

 

Just exactly how would congress enforce such a ban?

Wed, 11/28/2012 - 09:48 | Link to Comment d edwards
d edwards's picture

Threaten to send that ugly biotch Hilary over to bitch at them?? :-D

Wed, 11/28/2012 - 09:50 | Link to Comment NotApplicable
NotApplicable's picture

Hopefully by holding their breath until they turn blue.

Wed, 11/28/2012 - 10:18 | Link to Comment negative rates
negative rates's picture

With a hammer and forty nails.

Wed, 11/28/2012 - 10:22 | Link to Comment Chump
Chump's picture

Find a reason to bomb the everloving shit out of them?  Oh wait, they're brown people that we call allies, and they're a nuclear power.  This may take some more thought.

We could always go the UN route, I guess.

http://www.youtube.com/watch?v=UIPSvIz9NDs

 

Wed, 11/28/2012 - 09:46 | Link to Comment myptofvu
myptofvu's picture

Yeah pass a Bill that will stop them...."but why aren't they stopping we passed a law"

Wed, 11/28/2012 - 09:54 | Link to Comment GMadScientist
GMadScientist's picture

Does Turkey need Iran's gold more or less than we need Turkey's airspace?

 

Wed, 11/28/2012 - 10:04 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

The US (or US proxy) will simply use Turkey's airspace and ask forgiveness afterward... based on the principal that it's always easier to get forgiveness than permission.

Wed, 11/28/2012 - 10:22 | Link to Comment shovelhead
shovelhead's picture

Aye,

The nub of the matter.

"Quit doing that"

"No."

"Okay, but we're very unhappy."

"So what?"

Indistinct grumbling.

Wed, 11/28/2012 - 10:08 | Link to Comment zilverreiger
zilverreiger's picture

Fuck off USA scourge of freedom and trade

Wed, 11/28/2012 - 10:09 | Link to Comment Mentalic
Mentalic's picture

The legislation "would bring economic sanctions on Iran near de facto trade embargo levels with the hope of speeding up the date by which Iran's economy will collapse," the aide said.

We now know who the real terrorist state is....

Wed, 11/28/2012 - 10:13 | Link to Comment LikeClockwork
LikeClockwork's picture

All I ask is that WWIII be quick and painless and at least let me finish my cappuccino before the big flash.

Wed, 11/28/2012 - 10:22 | Link to Comment negative rates
negative rates's picture

That's not for quite a while yet, though I do like the ending, the only question was which side would the ashes fall on. It was the right I believe. Enjoy that coffee.

Wed, 11/28/2012 - 10:43 | Link to Comment bunnyswanson
bunnyswanson's picture

Drink up and dont' worry soft American.  The new leaders of your pitiful empty self absorbed life won't rip the heart out of your chest just yet.  They rightfully have their finger on the pulse of American citizens, even in their state of rapid and decrepid decline.  Public opinion can set the masses into a frenzy (they last thing "they" want") and so will placade you each step of your fucking pathetic way, stick a nipple in your suckling mouth, place an orificice in your manically erect dick, until they are in a position where what you say will mean nothing at all.  Ini the mean, shop.  Shop until you fucking DROP.

Wed, 11/28/2012 - 10:49 | Link to Comment LikeClockwork
LikeClockwork's picture

What the fuck? Are you trolling me? I'm not even Northern Hemisphere let alone United Statesian.

Wed, 11/28/2012 - 15:49 | Link to Comment negative rates
negative rates's picture

You let the wrong word slip, while kissing persuasive lips, if that's trolling, then yes, I am guilty of that.

Wed, 11/28/2012 - 10:36 | Link to Comment Global Hunter
Global Hunter's picture

The Senate of the USA is considering banning tradition.  Is there anything these thug gangsters can't do with legislative fiat?

Wed, 11/28/2012 - 10:49 | Link to Comment otto skorzeny
otto skorzeny's picture

you no pay-you no getta da gas

Wed, 11/28/2012 - 11:07 | Link to Comment Omen IV
Omen IV's picture

this action against iran and turkey coupled with the ruling on argentine bonds by US court of appeals signals to the world that they are being coerced and attacked by the USA in new ways  - countries large and small are going on defense  -  they know the USA is the world's aggressor

Wed, 11/28/2012 - 11:11 | Link to Comment jesusonline
jesusonline's picture

Turkey says US can eat cake:

Economy minister: U.S. sanctions against Iran oblige Turkey to do nothing

 

http://en.trend.az/capital/business/2093242.html
+
Turkey, Ignoring U.S. Sanctions on Iran, Will Continue Sending Iran Gasoline
http://www.defenddemocracy.org/media-hit/turkey-ignoring-us-sanctions-on...

 

Wed, 11/28/2012 - 11:18 | Link to Comment Forsaker
Forsaker's picture

Turkey is trying to increase its rating so they have to increase their export numbers.

Right now this getting crude from Iran and selling it back after refining it is one of the biggest export item

I think they continue to do it until US press START BLACKOPS button 

Wed, 11/28/2012 - 11:20 | Link to Comment larz
larz's picture

"Turkey's game of gold for natural gas," Game???? our esteemed leaders have NO idea how pompous and ridiculous they are - arrogance without back up.  The "game" is debt as money backed up by what? does this blog entry put me on a watch list? well NSA?

Wed, 11/28/2012 - 11:35 | Link to Comment The Proletariat
The Proletariat's picture

"The law of unintended consequences may apply here and should the Iranian currency and economy collapse there is likely to be a war with Israel...."  What about the inverse?  Their economy will probably do the opposite of collapse, since their exchanging goods and services for real money.....

Wed, 11/28/2012 - 11:37 | Link to Comment JOYFUL
JOYFUL's picture

///The law of unintended consequences may apply here and should the Iranian currency and economy collapse there is likely to be a war with Israel and turbulence in the Middle East akin to, if not worse, than that seen in the 1970’s.///

For a Turkish official source to come right out and openly announce the mechanics of the oil\gold swap deal means that the die is cast...

and that we have entered the warp-drive phase of the western collapse. Turkey has by necessity been Janus-faced in it's international relations -at time  obsequiese to the ZATO-ZOG behemoth, at other times slyly disobedient...but never as bold as this...

like the gesture of the Cambodian PM's wife, this is a signal that the shift Eastwards is a fait accompli...unfortunately for Turkey, their double-timing of every partner will leave them in the ultimate jeopardy...playing host and paymaster to State's rent-a-jihadi goons at the same time that the curtain drops on the whole MENA\PNAC enterprise is likely to prove one of history's major faux pas'. Unless we get really lucky, the stolen poison gases from Syria's five major depots are going to spread panic and destruction throughout the formerly first world...with Ankara to blame.

Wed, 11/28/2012 - 13:36 | Link to Comment AnAnonymous
AnAnonymous's picture

Let Iran fail. Let them fail.

Another country that is on the path to fail all by its own just because it did not adopt 'americanism'.

A good thing is that after destroying the iranian economy, invade Iran, 'americans' might be able to claim they are going to better the situation in Iran on actual grounds.

Knowing 'americans' though, they will have to mess the iranian situation a lot more to even hope to add something benefitial to the indigenous there.

Wed, 11/28/2012 - 14:10 | Link to Comment JLee2027
JLee2027's picture

Absolutely totally unenforceable.

Wed, 11/28/2012 - 14:52 | Link to Comment SmittyinLA
SmittyinLA's picture

Turkey has to go, they're being "dismantled" as we comment and "new" states are being carved up out of Turkey and Syria as we speak.

 

Wed, 01/02/2013 - 19:16 | Link to Comment Gas Cooktop
Gas Cooktop's picture

Natural gas can be used in gas cooktop but gold can not!

http://www.gascooktop2.blogspot.co.uk/
Do NOT follow this link or you will be banned from the site!