http://www.reuters.com/article/GCA-O...4AE1F820081115
Check it out and discuss. I would like to see how this pans out for Iran personally.
Miles
Iran Switches Reserves to Gold
http://www.reuters.com/article/GCA-O...4AE1F820081115
Check it out and discuss. I would like to see how this pans out for Iran personally.
“Today, the general will of all nations is calling for fundamental change... The prerequisite to this change is a change in goals, intentions, and directions. If tyrannical goals are repackaged in an attractive and deceptive package and imposed on nations again, the people, awakened, will stand up against them.”
Iranian President Mahmoud Ahmadinejad
Truth is treason in the Empire of Lies.
Ron Paul
Re: Iran Switches Reserves to Gold
They only do that to make them seem more richer and powerful. "LOL WE GOTZ GOLD LOL U DONT HAHA", etc etc.
Screw Iran.
Mangod of Earth
Re: Iran Switches Reserves to Gold
Good for them, the US also maintains a massive gold reserve.
Its always good to have something that almost never looses its value.
"For the humble doily is indeed the gateway to ULTIMATE COSMIC POWER!"
~Sidmen, Member of the House of Wilpuri, Patronized by pannonian
Horrible(ly cute)
Re: Iran Switches Reserves to Gold
It is just a commodity that has important industrial uses. They have bought high, so they must be expecting it to go higher. Or they made an investment mistake.Originally Posted by Sidmen
More probable -- They are using this for domestic support for a rough time ahead financially when government expenditures decline.
Praeses
Re: Iran Switches Reserves to Gold
Gold is a stable but weak investment. it costs much more to convert currency into gold then into other assets, and you cant "cash in" gold very quickly at times. It does however protect against the ravages of inflation, and if Irans currency goes haywire that gold is probably the best investment. Though i would say its probably always better to have "working" money invested into something.
"If you can't get rid of the skeleton in your closet, you'd best teach it to dance." - George Bernard Shaw (1856-1950)
Primicerius
Re: Iran Switches Reserves to Gold
It would have been a great idea a year ago. Maybe they know something the rest of us don't; there's probably a secret OPEC plan to collapse the dollar!
Senator
Re: Iran Switches Reserves to Gold
China already got that coverIt would have been a great idea a year ago. Maybe they know something the rest of us don't; there's probably a secret OPEC plan to collapse the dollar!1.9 trillion dollar reserve.
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