This Is Not Good: Iran Converts Foreign Currency To Gold

 

I'm With Stupid

Something is telling me that Iranian President Ahamdinejad maybe planning to exploit our “peaceful” transition of power and most likely the weakness of Dear Leader Elect Obama.

From The Astute Blogger:

Iranian newspapers are quoting a top adviser to President Mahmoud Ahmadinejad as saying the country has converted some of its foreign currency reserves into gold.

The papers published Saturday did not say how much of Iran’s estimated $120 billion in reserves were converted into gold. Iranian officials could not immediately be reached for comment.

The daily Jahan-e-Eghtesad, or Economy World, quoted presidential adviser Mojtaba Hashemi Samareh as saying Ahmadinejad ordered the change.

The decision comes after a dramatic fall in oil prices recently triggered by a global financial crisis. About 80 percent of Iran’s foreign currency revenue comes from oil exports.

This could be seen as sign of a imminent attack against the West.  Either way, I trust Ahmadinejad and Obama about as far as I can throw Oprah in her fat years.   Granted this is just speculation, it may not be an act of aggresion by Iran, it may simply be the bottom falling out on the dollar, but we must not let anything get by us where Iran is concerned. 

4 responses to “This Is Not Good: Iran Converts Foreign Currency To Gold

  1. Very well could be a preemptive measure in anticipation of conflict. Then again, the U.S. should get the Hades off fiat money too. The Nixon legacy has come back to haunt us…

  2. Pingback: This Is Not Good: Iran Converts Foreign Currency To Gold | Business News

  3. Pingback: Iran » This Is Not Good: Iran Converts Foreign Currency To Gold

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s