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Iran Accepts Gold As Payment In Move To End Petrodollar

Comments Off on Iran Accepts Gold As Payment In Move To End Petrodollar

Another bold move by Iran this week against the dollar, as INRA reported the central bank governor say Iran will accept payment in gold instead of dollars. This move follows on from previous agreements Iran has announced ie. trading with Uruguay for rice etc.

ZeroHedge reported as follows:

We had a totally different perspective on things “A Very Different Take On The “Iran Barters Gold For Food” Story” in which we essentially said that Iran, with the complicity of major trading partners like China, India and Russia is preparing to phase out the petrodollar: a move which would be impossible if key bilateral trade partners would not agree to it. Gradually it appears this is increasingly the case following a just released Reuters report that “Iran will take payment from its trading partners in gold instead of dollars, the Iranian state news agency IRNA quoted the central bank governor as saying on Tuesday.”

Original source from PressTv.

Governor of the Central Bank of Iran Mahmoud Bahmani says the country can trade in currencies other than the American dollar in its foreign transactions.

“Iran does not just work with the dollar in trade transactions and every country can pay in its own currency,” said Mahmoud Bahmani on Tuesday.

Bahmani added that Tehran could receive gold in its transactions instead of currency transfers.

In case a country is willing to pay for the price of its imports from Iran in gold, there is no problem in this respect, he noted.

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German People Revolt And Bring Constitutional Challenge Against Fiscal Compact & ESM

Comments Off on German People Revolt And Bring Constitutional Challenge Against Fiscal Compact & ESM

It’s nice to see democracy being excised instead of politicians running amok and shutting their electorate out of having a say against  decisions that would ramifications on them for years to come. In Germany’s case, there are calls for a referendum on the Fiscal Compact and ESM and failing that, there will be a constitutional challenge. I don’t think the German people are to keen on giving away their own sovereignty to unelected bankers.

And the plan was going so well. The plan, of course, being to dispose of German budget sovereignty and transfer decision-making authority to a fully immune organization seated in Luxembourg, which just happens to be a tax haven, in the process stripping not only all of Europe, but also Germany of sovereignty, with the ESM being run by a few bankers, held accountable to no one(explained here). German FAZ has just announced that jurists and 2 political parties in Germany are going to appeal to the Constitutional Court, and demand an end of the Merkel Fiscal pact and the ESM, both of which have been implemented without so much as an inquiry as to what the people think, those millions of ever angrier Germans we wrote about back in July. That may be finally changing.

From Frankfurter Allgemeine, google translated:

The bailout policy of the Chancellor in the debt crisis is once more faced adversity: The former Justice Minister Herta Däubler-Gmelin wants to appeal, together with other planned permanent constitutional complaint against the euro rescue ESM and the European fiscal pact. The Alliance, comprised of the organization “more democracy” also belong to the liberal voters and the party ÖDP, has announced the appeal in the event that there is no referendum on the ESM and the Fiscal Pact to tighten fiscal discipline in 25 of the 27 EU countries will be.

Main criticisms are loud Däubler-Gmelin, the ESM that the question of liability remains high in Germany remains unclear. With the euro rescue package and the Fiscal Pact, the fiscal and legal control of the German parliament would be unduly curtailed. “The Rubicon is crossed towards a European federal state”, the constitutional lawyer Christoph Degenhart said on Thursday in Berlin. The law professor at the University of Leipzig, together with the former Federal Minister of Justice for action leaders announced a constitutional complaint.

……

The initiative calls for referendums on ESM and fiscal pact in all affected countries. “There must be a broad public debate on democracy in Europe which remains for enough time.” The initiative aims to submit its application for ratification of ESM and Fiscal Pact.

 I wish them luck 🙂

Source: ZeroHedge

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