If this report is true – that India will pay Iran in gold for its oil – then it has huge ramifications for the US dollar and paper money in general.
India to Buy Iran Oil in Gold Not Dollars
And also on this news clip from RT:
If you own gold, or have been considering buying it, then you’ll have certainly noticed how the precious metal has been somewhat in the doldrums for a while – hovering around the $1600 range.
So the pressing question is: “When will gold move higher, and more importantly exceed its previous high?
Jeff Clark has some ideas in: When Will Gold Reach a New High?
By Doug Casey
Everyone knows that the US government is bankrupt and has been for many years. But I thought it might be instructive to see what its current cash-flow situation actually is. At least insofar as it’s possible to get a clear picture.
As you know, the so-called Super Committee recently tried to come up with a plan to cut the deficit by $1.5 trillion and failed completely. To anyone who understands the nature of the political process, the failure was, of course, as predictable as it was shameful. What’s even more shameful, though, is that the sought-after $1.5 trillion cut wasn’t meant to apply to the annual budget but to the total budget of the next 10 years – a fact that is rarely mentioned.
Now whenever the chattering classes talk about cuts, it’s always about cuts over the course of 10 years. Which is a dodge, partly because most of the supposed cuts will be scheduled for the end of the period, but also because new programs, new emergencies and hidden contingencies will creep in to offset any announced cuts. So the numbers below aren’t a worst case; they’re the rosiest possible scenario. People have thought I was joking when, asked how bad the Greater Depression was going to be, I answered that it would be worse than even I thought it would be. But I haven’t been joking.
Paul Craig Roberts tells it like it is. He correctly perceives that the USA is on a dangerous path to fascism, and that each step down that dangerous road is proceeding with very little opposition from a largely docile population. But he does believe America has one last chance to stop the rot and reverse the decline, before it’s too late …
Glenn Greenwald says the word “terrorism” is a tool of political propaganda which is deliberately undefined and flexible. And I couldn’t agree more.
War talk is everywhere, and it’s always the same target – Iran. But what are the real motivations for wanting to start a war with Iran. Craig Paul Roberts has a pretty good idea:
The Next War on Washington’s Agenda
Given the rise in tension between the US and Iran in recent weeks, including counter threats from Iran to retaliate against any aggression by closing the Straits of Hormuz, it easy enough to conclude that war is imminent. And do doubt some silly provocative event could trigger it. But veteran Israeli commentator Uri Avnery, writes a compelling piece on why he believes there will be no war – at least, not with Iran.
Everywhere I look, I see a rising awareness of the fact that something is very wrong with the system – and this trailer for “The System” is one more indication of this trend …
Sometimes only comedy can reveal the truth …
