The Cork Board

[investor15]

Undermining Iranian Currency By Blocking Gold Imports

Saturday, 18 May 2013, 12:03 pm
Press Release: GoldCore

Gold Wars: U.S. Undermining Iranian Currency By Blocking Gold Imports

Today’s AM fix was USD 1,376.75, EUR 1,069.15 and GBP 903.62 per ounce.
Yesterday’s AM fix was USD 1,377.00, EUR 1,070.01 and GBP 904.32 per ounce.

Gold fell $6.00 or -0.43% yesterday to $1,386.70/oz and silver finished +0.71%.

Nothing has changed regarding the positive fundamentals of the physical gold market.

All that has changed is that the price of gold is again lower due to the machinations of technical traders and speculators.
GoldCore Market Performance Table

Tragically, it appears, the U.S. and other investors are again borrowing to buy stocks, confident that prices can only go in only one direction. All of this euphoria can be traced to the monetary expansion policies of the U.S. Fed and across the sea to Europe to the Bank of England and the ECB, and over to Japan and the ‘la la land’ of ‘Abenomics’

Does history repeat itself? Can we learn from money printing throughout history?

Of course we can.
US Dollar and Iranian Rial (USDIRR) Spot Exchange Rate - Price of 1 USD in IRR– 5 Years
US Dollar and Iranian Rial (USDIRR) Spot Exchange Rate - Price of 1 USD in IRR– 5 Years

Currency wars are set to continue and deepen which will support gold.

The United States government is to rigorously enforce a ban on gold sales to Iran from July 1. The U.S. will now ban sales of gold by anyone to either the Iranian government or to Iranian citizens, a senior U.S. Treasury official said yesterday.

The Iranian rial is the official currency of the Islamic Republic of Iran. The conventional market quotation is the number of rials per U.S. dollar. The rial is a fiat currency which like most paper currencies today is a managed, floating currency. The Central Bank of Iran has abolished the multi-tier exchange rate regime and established a single rate in its place.

This is another manifestation of the war on gold. Central banks and their minion banks have won the recent battles but the finite money par excellence gold and owners of physical gold will again win the war as they have throughout history.

http://www.scoop.co.nz/stories/BU1305/S00722/undermining-iranian-currency-by-blocking-gold-imports.htm