Very interesting comentary ... I like many on here regard Mr. Rickards as being a quality analyst whose commentaries are generally worth a read if not heeding directly.

It could be a testament to the quality of poster on this BB, but recognizing that oil for gold is transitionary as India complies with US sanctions on Iraninan banking, and gold as a method of payment would quickly cease given the magnitude of oil cost vs Indian gold supply available.

Could it be this is an effective way for the Iranians to strike back peacefully ... given the massive disparity in gold supply, if Iran forces the issue by insisting upon gold (yes there is economic danger in countries may look for alternative supplies ... but what will that do to oil prices) for payment.

I'm sure Iran can see the efforts being taken and the manipulation being allowed in the paper market by the fed and other CB's. Why not create a short squeeze on physical by requiring gold as payment to drive up the price and undermine the western CB's attempt to control gold pricing and further reduce confidence in their fiat currencies ... pretty fine economic warfare especially when you consider this is not an Iranian attack, but a counterpunch to actions undertaken by the enemy.

More than ever gold is where the smart money is heading .. the downside risk seems quite minimal when you compare the upside potential based upon debt issues and geopolitical tensions. Hell if I ran Iran and hated the US as much as it appears they do, I would do everything possible to ensure there was no WMD advancement at this stage, that my nuclear ambitions were maintained to support energy supply and I would also carefully give reason to the US to be suspicious of activities.

Knowing Iran can not beat the US militarily or influence its allies, it can however be a strategic supplier to large less dedicated allies (China et.al), influence small but increasingly important world markets like gold and silver, and above else demonstrate once again the US's willingness to attack other countries for their own selfish oil interests. Eventually the Muslims who have been divided and conquered will re-unite when the evidence of ongoing abuse is overwhelming and the citizens held under oppression realize the regimes doing so are funded by the west.

orgy