Iran Accuses America Of Purposefully Sending The Price Of Gold... Higher

Tyler Durden's picture

That there are theories (and facts) blasting manipulation by various central banks to supress the price of gold over the years is not a secret to anyone (which incidentally is good for anyone who wishes to purchase gold at cheaper price, but that is the topic for another day). Yet one "conspiracy" we had not heard of until now is that America is actively doing what it can to send gold higher. That is no longer the case. A few days ago, none other than the capo di tutti Mexican cappi, Iran president Mahmoud Ahmedinejad, proclaimed that "Iran's enemies were deliberately causing the price of gold and foreign exchange to rise in a bid to undermine the Islamic Republic's economy. "The enemies and ill-wishers want to make a fuss and present wrong information to provoke and deviate the market." The plot thickens. From Reuters: "In order to disturb the market they buy a lot of gold coins with their huge amount of money ... they do the same in the foreign exchange market. But we have got enough reserves to meet all the country's needs." And there you have it: America is willing to risk the reserve status of its currency and send everyone chasing after gold simply so it can destabilize the Iranian economy... And now we've heard it all.

What exactly is Iran's issue? Why runaway inflation of course, which has forced locals to exchange their worthless local fiat and scramble after such stores of value as gold (where have we heard that before).

Iran's inflation rate has been rising steadily from a 25-year low of 8.8 percent hit in August 2010 and the International Monetary Fund has forecast it will reach 22 percent this year.


The main pressure on prices has come from Ahmadinejad's policy, introduced late last year, of slashing some of the $100 billion of annual subsidies the state had paid out for decades to keep prices of fuel and food artificially low.


A reduction in interest rates paid on bank savings has also prompted Iranians to withdraw their cash and place it elsewhere, while a new tax on gold coins has led many to favour foreign currencies over their traditional safe haven, gold.


The price of gold coins and foreign currency has risen sharply in recent months, a fact economists put down above all to fears that rising inflation is sapping the buying power of the Iranian currency, the rial.

So while Belarus is already suffering from hyperinflation following a collapse of its economy earlier in the year, it appears it is Iran's turn next:

While Iranians tend to think of the common green 10,000 rial -- or 1,000 toman -- note as equivalent to one dollar, the price of a dollar in exchange bureaus broke the 13,000 rial mark last week before the central bank took as yet unspecified measures to prop up the currency.


On Wednesday the official rate was 10,661 rials to the dollar, with the market price at 12,450, according to financial website .

And as always, the last word is Iran's:

"If this evil-doing and arrogance did not exist, the price of foreign exchange would come down. Right now one American dollar isn't worth even 900 tomans in our economy," Ahmadinejad said.

One wonder if alleged Mexican assassins prefer to be paid in rials or in bullion. We will probably find out soon.

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Deadpool's picture

as soon as they announce they'll accept gold for oil the bombs they will be a fallin'.

Money 4 Nothing's picture

Seriously, with these new US "sanctions" on the way, someone is going to take a shot over the fence for real. Iran runs OPEC. Nuff said.


Ancona's picture

You just have to be amused whenever Ahmadinnerjacket speaks about......well.........anything!

Ima anal sphincter's picture

You just have to be amused whenever Zionist controlled American media speaks about.....well.....anything!!!

Barbar's picture

ahmedinejad for president of the usa

AldousHuxley's picture

Iranians are funny bunch.....they think fiat currency wall st owned American banksters want high gold prices....


maybe they were shorting gold? at least don't give your petro billions to goldman sachs unless you want to lose 99% of your investments.

Treason Season's picture

You just have to be amused whenever Nutenyahoo  speaks about......well.........anything! There fixed it.

UBIGDummy's picture

go to you tube and look up anti zionist Rabbi

Mesquite's picture

I didn't think he was that stupid...Guess I still have a lot to learn... 

Edit.: Looks like TPTB are ramping up the effprts of building a case for more foreign intervention...


Cynical Sidney's picture

any minute now expect israeli precision guided missiles to strike some iranian nuke site hidden in a spider hole

Pladizow's picture

There must be a reason behind the accusation that has not yet been realized.

If something doesnt make sense there is usually something missing.

ratso's picture

There is an advocate for every cause no matter how absurd and an ass for every seat.

Sabibaby's picture

Maybe it’s the translator who has an agenda?

Willzyx's picture

Unless those seats are for women's soccer

Sophist Economicus's picture

Or, he's just a mad man looking for the net with his name on it

LongBalls's picture

Not that ZH needs me to confirm this article; my hair stylist is Iranian and returns to Iran a couple of times a year. We speak once a month and she told me that inflation is running absolutley out of control over there. The appetite for gold is crazy according to her. The climax in the middle east is a comin'! And soon.

bigkahuna's picture

dork face Ahmadi-Nejad is usually 50-50. Sometimes he states truth that no one else dare utter. Other times he says stuff like this. If he would stop crapping out of his mouth, as most of our politicians do constantly, then the true parts of his message would stick. Otherwise the world stage will gladly brand him and whatever true points he makes to be BS and quackery. 

DosZap's picture

Hell, wat's this idiot screaming about?.

He has oil, and WHY would anyone not want the price of Gold to go up, except CB's,and Western soverigns.

The Arabs, and Persians should be happy as larks...........they have tons of it, just made them richer, and able to buy more war materials.

Has to be, SMS................................Short Man Syndrome.

covert's picture

so, their politicialized "religion" led them to blindly believe "on faith" that jihad has a higher return than gold and somehow it's OUR fault? obummernomics caused gold to rise. why not blame obummer or, is that politically incorrect? lol


BeachBummed's picture

Is it possible to turn sand into gold via thermonucleac heat exchange?

Money 4 Nothing's picture

I don't think so? BUT, you can make a really cool glass skating rink!

Sequitur's picture

Nope. Only thing powerful enough to create gold atoms is a Type II supernova, literally a giant star blowing itself to smithereens, during which time the heavy elements like gold are genereated during a precious few seconds over the course of the explosion. Ergo, this is why heavy elements are "rare" elements throughout the universe.

sampo's picture

I think the case is, would it be cost effective @ gold $36000?

Chaffinch's picture


Using the facilities at CERN they made a few atoms - probably not even enough to be visible to the naked eye.

Vlad Tepid's picture

The report says you need Ag to make the Au...I'm going out to buy some more silver now.

Ahmeexnal's picture

yet..."it only costs 5 bucks to dig an ounce of gold outta the ground"

gtb's picture

No, that's for silver.

Tramp Stamper's picture

Speaking of rare elements check out the United States Geological Survey  ( they released the afganistan minerals report.

sampo's picture

Many sites gold, only one says silver.

MrBinkeyWhat's picture

No, but I hear from my oil refining buddies that there is a research program to refine radioactive oil. Ctrl/Sarc...maybe ;-)

Sophist Economicus's picture

Absolutely. Now quit yapping and make me several 400 ounce bars

Money 4 Nothing's picture

Yea, and in the mean time, Iran is running up the price of Uranium and Plutonium so were even. Gimmi a friggin break.

spiral_eyes's picture

I suspect the entire paper-short game is a grab-what-you-can-get ruse. As RP pointed out to Benny, America still has massive gold reserves.

I do think America and Israel want to throw the dice and start a Eurasian war. It's all straight out of the Zbigniew Brzezinski playbook: Eurasia has ahuge resources, America is a resource-hungry Empire in decline with lots of weapons and a lot to lose from a bloc of rising Eurasian autocracies. The ultimate goal is an America-friendly Arab Spring in Moscow, Beijing, Tehran, Islamabad.

Sad truth is Arab spring coming to DC first.

JohnG's picture

We've always been at war with Eurasia.  Right??

JohnG's picture

But...I thought "we" were Oceania?  So who  are "we" and who are "they" anymore?

Now I'm completely confused......

Quintus's picture

It's as plausible as yesterday's preposterous "Iranian/Mexican Assasinate plot" bullshit.

Are Iran and the US engaged in a "Who can get the stupidest conspiracy theory published in the media" contest?

Deadpool's picture

Iran/Venezuala would have been more plausible...but of course anything to get Eric Holder and "Fast and Furious" off the front page.

chubbar's picture

Speaking of "Fast and Furious", looks like ole Hillary herself may be involved at some level!

Jena's picture

Doesn't that seem a little odd to pop up suddenly?  I'm no Clinton fan but talk about tossing in one more misdirection just in case the whole Iranian/Saudi/Mexican conspiracy thing doesn't get the heat off of Holder et al over the Fast and Furious matter.

(And it apparently it didn't, since Darrell Issa has issued subpeopnas for all DOJ documents.  Issa is like a determined dog with a bone on this one and good for him.  Arming drugs gangs was the height of stupidity, incompetence or downright devilish intent, depending on what the facts really were.  I wonder if we'll ever know.)

clymer's picture

To detract from Holder? The clintons have handled Holder for years.

wandstrasse's picture

I ask myself how bizarre everything can get. Next up: Blankfein and Dimon and Summers urge for Silvio Gesell's demurrage money.

Tsunami Wave's picture

It shounds like they can also just print worthless money to buy up more gold at the expense of everyone below them suffering.  Then again they'll get their wish anyway once the US Dollar stops becoming the preferred currency of transactions for OPEC.

Money 4 Nothing's picture

That my friend is going to be front and center soon. Hell, we killed Sadam over less.



Lazane's picture

don't mess with the purveyors of the NWO, or they will whack your sack

Oh regional Indian's picture

Whack your Sack,

Unprovoked attack.

it was for the children.

The women.

The Freedoms.

The commies.

We're coming to save you, seriously.

We is the good guys.

Sung by the Coward Predator Drone Crews. America the brave, eh?


The Perversion of Language

Motorhead's picture

Speaking of Iran, what's CNN's Rudi Bakhtiar up to lately?