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| Syria-Lebanon-Iran |
| Iran Switches Reserves To Gold |
| 2008-11-17 |
| Iran has converted financial reserves into gold to avoid future problems, an adviser to President Mahmoud Ahmadinejad said in comments published on Saturday, after the price of oil fell more than 60 percent from a peak in July. They don't know very much about economics, do they? |
| Posted by:Anonymoose |
| #14 The old legendary persian gold mine strategy! |
| Posted by: Jeremiah Thaise1218 2008-11-17 20:56 |
| #13 Can't wait til the Somalis get a hold of one of their shipments. Won't that be fun? |
| Posted by: Ebbang Uluque6305 2008-11-17 18:33 |
| #12 #9 "There's never been a better time to buy gold." --Commercial, any radio talk show, any day Posted by: Mike "and it's never been worth nothing |
| Posted by: Frank G 2008-11-17 18:25 |
| #11 With Irans's reserves he could probably afford a nice gold necklace off the streets of NY. |
| Posted by: DoDo 2008-11-17 14:02 |
| #10 When those commercials ramp up it is usually because there is someone who is trying to get rid of theirs. I have noticed that the commercials really crank up when the price of gold is tanking. When it is going up, they disappear. |
| Posted by: crosspatch 2008-11-17 11:42 |
| #9 "There's never been a better time to buy gold." --Commercial, any radio talk show, any day |
| Posted by: Mike 2008-11-17 10:17 |
| #8 They need to put all their money in Rantburg. |
| Posted by: DarthVader 2008-11-17 09:32 |
| #7 Going to Gold is a Middle East SOP. They have many reasons to when their intermediaries stop taking the paper. |
| Posted by: Procopius2k 2008-11-17 08:44 |
| #6 They'd have done better putting all their eggs in Rugs. |
| Posted by: WilliamMarcyTweed 2008-11-17 08:39 |
| #5 Gold has been on a slide since Feb. It's a much better buy at 500, but at 740 it could go either way for them. |
| Posted by: bigjim-ky 2008-11-17 08:37 |
| #4 Depends. If you are trying to protect the value of your assets, probably not so wise. Gold has been been in a general down trend in US Dollars. But if you are looking for a way to stay liquid when nobody else will exchange your currency, it is about the only avenue left to you. So they will lose money on it, but having less money is better than having no money. |
| Posted by: crosspatch 2008-11-17 02:04 |
| #3 Looks to me like they are preparing for the worst. Yep. Also looks like a very prudent and perhaps even a wise move. |
| Posted by: AzCat 2008-11-17 01:53 |
| #2 Looks to me like they are preparing for the worst. |
| Posted by: crosspatch 2008-11-17 01:14 |
| #1 Maybe the reserves were all in Zimbucks. |
| Posted by: PBMcL 2008-11-17 00:44 |