Saturday, October 30, 2010

World war 3 ?

Iran forex reserves exceed $100bln

"We imported hundreds of tonnes of gold when its price was at an average of 656 dollar per ounce," Bahmani said at the seminar in Tehran on Saturday. "Today its global price has gone up to 1,230 dollars (per ounce). Given the current situation, billions of dollars have been added to the country's foreign exchange reserves." He said the reserves were brought into the country "to avoid being seized by other countries due to sanctions."

Posted by mark @ 06:01 PM (3906 views)
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7 thoughts on “World war 3 ?

  • Littlesteroid says:

    Foreign reserves and WW3, why would one think lead to another?

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  • little professor says:

    Why would this cause world war 3? They had foreign exchange reserves worth $76 billion in 2008, now they are worth over $100bn. Mildly interesting, but otherwise hardly likely to shatter the geopolitical status quo.

    Really, mark, you can do better than this.

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  • Only $100bn? We could print that amount in an afternoon!

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  • no but it could be an excuse for invasion soon, after all they hold some great oil reserves for USA.. sorry this article is not up to my usual standards LP

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  • tenyearstogetmymoneyback says:

    Now we know where all the BoEs gold and gold bought up by “Cash for Gold” etc has gone.

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  • general congreve says:

    Just Iran poking fun at US dollar weakness. Shrewd move on their part ref: buying the gold at that price, nice little earner. However, this doesn’t increase the risk of invasion IMO, cos the risk is already sky high, with the Israeli govt. effectively governing the US, it could happen any time.

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  • 4. Agreed.

    I doubt Iran will do anything, but posture, unless the US or Israel pushes them too hard, or Shia hawks want to risk overt aggression against the Sunni / Salafi (aka “Wahhabi”) ‘puritans’, however they do seem to be investing in stirring up trouble, in several countries, including Iraq and Yemen, probably as a campaign of attrition and distraction against the House of Saud, and their supporters e.g the USA and the UK.

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