Gold For Oil

28 01 2012

While no one was looking, India decided to ignore the embargo on Iran’s oil sales by buying directly with gold payments. Oil markets are stunned! This has the potential for totally collapsing the US economy and probably the entire western world economic system. Here is a DEBKAfile Exclusive Report:

India is the first buyer of Iranian oil to agree to pay for its purchases in gold instead of the US dollar, debkafile’s intelligence and Iranian sources report exclusively.  Those sources expect China to follow suit. India and China take about one million barrels per day, or 40 percent of Iran’s total exports of 2.5 million bpd. Both are superpowers in terms of gold assets. 

By trading in gold, New Delhi and Beijing enable Tehran to bypass the upcoming freeze on its central bank’s assets and the oil embargo which the European Union’s foreign ministers agreed to impose Monday, Jan. 23. The EU currently buys around 20 percent of Iran’s oil exports.

The vast sums involved in these transactions are expected, furthermore, to boost the price of gold and depress the value of the dollar on world markets. (Read full article here)

The last phrase is the point. If oil goes off the dollar standard, the US loses one of its most important international positions. It is another result of the failure of the US Administration to  project strength. Weakness instead, has produced this crises and put us on the brink of economic chaos.

Two examples illustrate my point. First, every time President Obama tries to “talk” to Iran it only buys them more time to pursue their agenda, both for oil, and for nuclear weapons. Second, our President refuses to allow the new Keystone XL oil pipeline to connect Canadian oil to Houston, further weakening our global position. Canada would sell their oil to China if we default on the pipeline. We have enough oil and natural gas to completely stop buying Middle East oil. (See my earlier post for documentation: Drill Baby Drill – Now More Than Ever).

Then one of the seven angels who had the seven bowls came and talked with me, saying to me, “Come, I will show you the judgment of the great harlot who sits on many waters “with whom the kings of the earth committed fornication, and the inhabitants of the earth were made drunk with the wine of her fornication.” Revelation 17:1-2

Les Lawrence, Voice of Christian Zionists     (READ MORE)

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2 02 2012
Prophetic Super Bowl? « Elisha Vision – Commentary

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