Little Noticed: Iran Converted Portion of FX Assets to Gold

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"Upon the decision of the government's task force, a segment of Iran's foreign exchange assets will be converted into real assets such as Gold and stocks," said deputy finance minister Mohsen Talaie to the Etemad-e Melli newspaper on Monday. [June 7, 2008]

This converting into gold - a "real asset" - by Iran was a biggy that went largely unnoticed when it occurred. I didn't know Iran was unloading some of its Euro and USD holdings for gold until just this week. Why was this converting to gold a biggy?


This was Iran giving Israel, Bush and the US financial and military cabal the middle finger. By withdrawing their funds and converting a portion of them into gold, probably all that they could, was letting USrael know that Iran was through their oil gained reserves in worthless US fiat currency and that they were not going to be intimidated by the Zionist controlled media's beating war drums over Iran's nuclear energy for electricity plans.

Apparently Iran learned from what happened in the 1979 Iranian hostage crisis when their foreign accounts were blocked until the crisis was resolved. This time around, while being threatened by USrael with nuclear war over its alleged nuclear ambitions, Iran is withdrawing its funds ahead of any such blockage. Moreover, it is converting at least part of its $75 billion reserve holding into gold.

To prevent their assets from being blocked due to the threat of new sanctions over Tehran's disputed nuclear ambitions......

Part of Iran's assets in European banks have been converted to gold and shares and another part has been transferred to Asian banks," Mohsen Talaie, deputy foreign minister in charge of economic affairs, was quoted as saying.[June 16, 2008]

Iran Converts Assets to Gold

The Jewish Banksters of Wall Street will not let this converting of foreign reserves into gold stand. They will have to move to stop this conversion from continuing because it will wreak havoc on their plans to monetize US debt by flooding the world with increasingly worthless US dollars. If Iran, the fourth largest oil producing and fourth largest oil exporting nation in the world, starts demanding gold for its oil, and other oil producing nations follow suit, or those holding large amounts of US dollar reserves, like China and Japan, start dumping the dollar for gold, driving up the price of gold, the US would be forced to buy expensive gold with dollars and then purchase oil with that higher priced gold. This type of reaction to the falling dollar by large holders of dollar assets would drive the price of gold through the roof. To prevent the price of gold from going into orbit, the Federal Reserve, a private banking cartel owned by Jewish bankers, including the Rothschilds, would then be forced to support the dollar to prevent its decline and to purchase oil with the stronger dollar, oil which would need to be paid for in gold. This dollar support can only come about by raising US interest rates, i.e. restricting the supply of credit, which would ruin what is left of the US economy. A severe restriction in available credit is what caused the Great Depression of 1929. A similar restriction today, on top of the sub-prime crisis, the housing crisis, the banking / financial crisis and the coming dollar collapse, would send the US economy into a tailspin that might take, not the three and one-half years it took in 1929-1932, but perhaps five or more years, until bottom is scraped.

The US can not let that happen. The US will not let that happen.

Like graffiti scrawled on the concrete walls of a slum neighborhood, the writing is on the wall. War with Iran - not over its alleged nuclear weapons program as we been lied to about - but because it is daring to convert its foreign exchange reserves into gold - is inevitable.

"Thou shalt not steal." The world is waking up to the fact that fiat currency, through inflation, is theft. They want no more stealing of their wealth by Jewish bankers. They want "just weights and measures" - Leviticus 19:36 - like gold.

Got gold?

Post Script: Why is the price of gold down, when the supply is so limited?

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