jakestocksnake, actually, if India would keep paying Iran in gold, they would last almost 3 years as I calculate.

China is 9th in gold reserves with 1,161.9 tons. I don't know how much they import from Iran, but I think that each of them would likely try to diversify their sources over time, and Iran would end up sitting on their oil, unless they accept payment other than gold.

They may also strike a deal with a combination of some gold and other type of currency.

Another senario would be if the rest of the world sets up a gold standard at a fixed amount, as it was back before the 70s (which would not be great for SLI and us). However I think there are too many people with private gold holdings and political influence to let that happen.

Just my thoughts and who knows, it may all evaporate, if there would be a forced reversal of trade between the west and China / India, by the work and industry being brought back to the west. It would hurt for a while but it may be good in the long run.

This is enough now. Sorry to be so lengthy.

Real888