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IRAN, OIL, CHINA AND THE SWIFT BANKING SANCTION (STA BREAKING NEWS and ARCHIVES)

by Il_Bagattel, Tuesday, April 24, 2012, 02:40

As those who have been paying attention to such things know, the western powers (Rothschild central bank controlled countries) have removed Iran from the SWIFT system. This means that they have no way to transact internationally, through electronic bank transfers in any currency. The Chinese, who depend on Iranian oil, are using a workaround... Gold. This is a newsletter from Jim Sinclair, last night:

The implications of China paying for Iranian oil in gold is the most important event in the modern history of gold


1. It is reasonable to assume that China has been threatened with total or at least selective exclusion from the SWIFT system if it pays in any currency for Iranian oil.


2. Gold has been decided by China as the means of making payment for massive international purchases free of the SWIFT system.


3. Other Asian and Middle Eastern nations will now see the gold they hold as money free of Western economic interference.


4. Gold now is not only money free of liability, but also free from interference regarding settlement by the long arm of Western influence.


5. The SWIFT system is becoming ever more a weapon of Western international political will.


6. In case of war anywhere, it is now demonstrated for all to see that only gold will buy the materials required. Paper currencies are under the SWIFT system's control in settlement.


7. Far from being a barbaric relic, gold is now clearly the money of state survival in every sense.


8. It is reasonable and possible for the supply of physical gold to fall far behind the size of the massive short positions now common to algorithm and hedge fund paper shorts. That will make an effective cover at a reasonable price as compared to a certain day's close impossible the following day on an exogenous event.


9. It may not be possible to use TA [technical analysis] of any nature to determine a price of overvaluation for gold. Should the USA decide to take on China in full out economic war with the physical market totally illiquid, such as through isolation from the SWIFT system, consider the gold price that might result.

We live in interesting times...

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