Iran switches to Gold


Lately one kept hearing from Iran that massive amounts of currency reserves have been paid out to this official or that institution, enough to make us curious as to what exactly are they doing there !! after a bit of research online,one realizes the rational behind all these movements of capital. Iran is inconspicuously converting its financial reserves into Gold. Iran is being very secretive about this whole massive transaction, apparently this plan has been going on for the last 3 years, ever since the first set of sanctions emerged at the horizon.

It is estimated Iran made $80 Billion net profit before the price plunge and hardly any of it was in dollar, it is all in Gold and are in special Banks in Asia.....There is another report that simultaneously, Iran withdrew around $75 Billion of its long term invested Money in European Banks and bought Gold reserves which were subsequently shipped to unknown locations and financial institutions to eventually avoid and prevent any financial losses due to freezing of its assets as the US did at the beginning of the revolution, and vehemently refuses to pay out despite of different court orders. Iran is keeping just enough capital in western Banks to keep the accounts open. The price of Oil has fallen dramatically, but the price of Gold has been rising slowly but constantly during the same period (5percent)

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