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| Syria-Lebanon-Iran |
| Gold crush: U.S. ready to shut down gold sales to Iran |
| 2013-05-20 |
| The U.S. is trying to stop the gold rush to Iran in a bid to undermine the Islamic Republic's plummeting currency, but critics say the move is more likely to hurt ordinary citizens than the rogue regime's leadership. A top Treasury Department official told lawmakers that, starting July 1, the U.S. plans to crack down on all transfers of gold to the Iranian government or its citizens. The move appears aimed largely at banks and gold brokers in Turkey and the United Arab Emirates. Companies operating from within those nations have shipped large amounts of gold to Iran as Tehran attempts to stabilize its currency, the rial, amid increasing international economic isolation. "We have been very clear with the governments of Turkey and the UAE and elsewhere, as well as the private sector that is involved in the gold trade, that as of July 1 all must stop, not just the trade to the government," Treasury Undersecretary for Terrorism and Financial Intelligence David Cohen told members of the Senate Foreign Affairs Committee last week. The rial has lost two-thirds of its value against the dollar since late 2011, largely as a result of U.S.-led sanctions targeting the banking system and oil exports. The sanctions are in response to Iran's ongoing nuclear weapons program. The U.S. can impose sanctions on foreign companies that violate the Iran policy, as long as those companies also seek to do business with parties in the U.S. To date, the Obama administration has not penalized any companies in Turkey or the UAE for trading in gold with Iran. |
| Posted by:tipper |
| #3 “Vahidi noted that Iran has become self-sufficient in manufacturing airplanes,” according to Press TV, which quoted the military leader as saying that “sanctions make us stronger.” http://www.youtube.com/watch?v=zKhEw7nD9C4 |
| Posted by: Uncle Phester 2013-05-20 20:28 |
| #2 Bitcoin anyone....? |
| Posted by: Uncle Phester 2013-05-20 20:22 |
| #1 Like they're really going to listen to YOU. Gold WILL get through, whatever the USA says. |
| Posted by: Redneck Jim 2013-05-20 19:32 |