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Iran will accept gold as payment for its oil

Straits Times -- In trade with foreign nations Iran will not limit itself to the US dollar. Our trade partners may provide payment in its own currency. If the country wishes, it can pay us in gold, and we will accept it without any reservations," Bahmani said on Wednesday.

Iran’s move is part of its efforts to move away from the hegemony of the petro-dollar. The United States has applied sanctions on entities that trade with Iran. It also successfully pressured Belgium’s SWIFT, owner of the SWIFT system, to refrain from doing business with Iranian banks, Bloomberg reported.

According to the IRNA news agency, any nation can pay in its own currency, and Iran has already accepted goods as payment from China and India.

“A separate barter arrangement also exists. Iran imports goods from

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Submitted Mar 04, 2012 By: skb69sa
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honda0105
Champion Author Tallahassee

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Message Posted: Mar 7, 2012 6:01:03 AM
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Yooper: sorry you won't get to drive the price of gold down. That's part of the problem.
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Yooperheart
Champion Author Michigan

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Message Posted: Mar 5, 2012 2:07:13 PM
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All right you spec boys, time to grab the bull.
Drive the price of gold down.
Put the squeeze on.
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Krykson
All-Star Author Chicago

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Message Posted: Mar 5, 2012 2:13:19 AM
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Interesting
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N5EXY
Champion Author Austin

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Message Posted: Mar 5, 2012 1:08:05 AM
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This is supposed to be newsworthy? Who won't accept gold in payment for anything?
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pse91
All-Star Author Calgary

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Message Posted: Mar 5, 2012 12:46:52 AM
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Looks like it is time to make the move.
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pgerassi
Champion Author Milwaukee

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Message Posted: Mar 5, 2012 12:25:14 AM
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Make sure all the gold they get is all composed of radioactive isotopes. In a few decades, it won't be gold anymore.
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Number43
Champion Author Lexington

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Message Posted: Mar 5, 2012 12:16:09 AM
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Gold prices will go up because of this.
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lyons_coop
Veteran Author Kansas

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Message Posted: Mar 5, 2012 12:11:42 AM
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Hmmm, but what are the basing the price of gold on?
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singlemom27
Champion Author Ventura

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Message Posted: Mar 5, 2012 12:09:13 AM
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Give me the gold!
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ysmc
Champion Author Providence

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Message Posted: Mar 5, 2012 12:08:03 AM
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I too will accept gold. A few onces should pay my fuel bill for a year.
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Double_Golden
Champion Author San Francisco

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Message Posted: Mar 5, 2012 12:01:46 AM
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I Accept Gold too, can I have some
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kgbellman
Champion Author Ann Arbor

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Message Posted: Mar 5, 2012 12:01:11 AM
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Of course
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rashida
Rookie Author Ontario

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Message Posted: Mar 4, 2012 11:59:52 PM
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ok!
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mfeldstein
Champion Author Ottawa

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Message Posted: Mar 4, 2012 11:57:31 PM
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HYEgasCA .... Or typhoid impregnated handmade Indian blankets.
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camel1
Champion Author Minnesota

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Message Posted: Mar 4, 2012 11:57:08 PM
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Barter is always an option
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HYEgasCA
Champion Author Fresno

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Message Posted: Mar 4, 2012 11:55:04 PM
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What if we sent them a couple of tomahawks instead
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kgbellman
Champion Author Ann Arbor

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Message Posted: Mar 4, 2012 11:54:31 PM
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Of course
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wang91554
Champion Author San Jose

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Message Posted: Mar 4, 2012 11:53:46 PM
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let them eat gold.
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yakstar
Champion Author Montreal

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Message Posted: Mar 4, 2012 11:52:58 PM
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ok...
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Tucker16
Champion Author Ottawa

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Message Posted: Mar 4, 2012 11:52:05 PM
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They should also accept punches to the face.
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cateyes8264
Champion Author Tennessee

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Message Posted: Mar 4, 2012 11:46:26 PM
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Use our own resources. Stop being dependent on foreign oil.
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blazerbob91
Champion Author Milwaukee

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Message Posted: Mar 4, 2012 11:45:55 PM
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Give them dollars.
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BKool
Champion Author Michigan

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Message Posted: Mar 4, 2012 11:44:43 PM
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run credits...fade to black...last act for the greenback...
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bullseye100
Champion Author New Jersey

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Message Posted: Mar 4, 2012 11:43:32 PM
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Of cource they will accept gold. Who wouldn't?
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Bezalel
Champion Author Oklahoma City

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Message Posted: Mar 4, 2012 11:43:27 PM
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Charge them oil for food.
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silverfoxv65
Champion Author Michigan

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Message Posted: Mar 4, 2012 11:42:44 PM
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Like a snake in the woods.
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BooHooMI
Champion Author Michigan

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Message Posted: Mar 4, 2012 11:38:54 PM
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Say, bye bye Dollar!
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platinum16434
Veteran Author Houston

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Message Posted: Mar 4, 2012 11:38:41 PM
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They're getting desperate to find more fund now.
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sillywagon
Champion Author New York

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Message Posted: Mar 4, 2012 11:35:57 PM
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Will Iran accept as payment Hershey's Pot of Gold.

I would!!!
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TKDBlackBelt
Champion Author Dayton

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Message Posted: Mar 4, 2012 11:34:11 PM
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How true, ssect8!

Maybe Iran will accept a nuke (detonated, of course) in lieu of dollars. >:-<

[Edited by: TKDBlackBelt at 3/4/2012 11:34:33 PM EST]
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rjhenn
Champion Author Des Moines

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Message Posted: Mar 4, 2012 11:32:24 PM
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Time to develop some workable transmutation technology and eliminate gold as a currency base.
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JENNYHK
Champion Author Chicago

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Message Posted: Mar 4, 2012 11:32:22 PM
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I would like to get paid in gold too but I wouldn't give Iran a cent!
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OaklandInvaders
Champion Author San Jose

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Message Posted: Mar 4, 2012 11:31:51 PM
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ha ha well cant be too much cuz the rate is too high
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ssect8
Champion Author Hartford

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Message Posted: Mar 4, 2012 11:30:53 PM
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I guess Iran doesn't think much of our 15 trillion dollar debt, which I guess makes them a lot smarter that the idiot politicians the clueless citizens have elected into office and the White House.
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tippybuddy
Champion Author Ontario

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Message Posted: Mar 4, 2012 11:30:46 PM
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wouldn't we all accept gold for payment anywhere
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defiancegasman
Champion Author Ohio

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Message Posted: Mar 4, 2012 11:30:06 PM
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They will also accept it in the form of WAR WEAPONS too!
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gasgo123
Veteran Author South Carolina

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Message Posted: Mar 4, 2012 11:27:59 PM
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Drill, keep our money at home and tell them to stick it.
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DEG
Champion Author Las Vegas

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Message Posted: Mar 4, 2012 11:27:39 PM
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To be expected.
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jrsva
Champion Author Virginia

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Message Posted: Mar 4, 2012 11:27:38 PM
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"I'll accept gold as payment as well."

My sentiments exactly.
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postcard9
All-Star Author Massachusetts

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Message Posted: Mar 4, 2012 11:26:44 PM
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$3.78 here.
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radiorumor
Champion Author Texas

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Message Posted: Mar 4, 2012 11:26:05 PM
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Gmcgas, your right!
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SUSANCK
Champion Author Chicago

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Message Posted: Mar 4, 2012 11:25:20 PM
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Don't make deals with this country..........
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gmcgas
Champion Author Atlanta

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Message Posted: Mar 4, 2012 11:21:06 PM
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sanctions not going to work if everybody not on board.
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drobbbb
Champion Author Maryland

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Message Posted: Mar 4, 2012 11:18:41 PM
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sanctions are working
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granitestater
Champion Author New Hampshire

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Message Posted: Mar 4, 2012 11:17:12 PM
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Back to the barter system...
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EmperorsFinest
Champion Author Chicago

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Message Posted: Mar 4, 2012 11:15:20 PM
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Gold is nice--but they don't desrve it.
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dancygreen
Champion Author Twin Cities

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Message Posted: Mar 4, 2012 11:14:22 PM
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whatever
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mlmeng
Champion Author Michigan

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Message Posted: Mar 4, 2012 11:12:54 PM
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I'll accept gold as payment as well.
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theschmuck
Champion Author Michigan

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Message Posted: Mar 4, 2012 11:11:45 PM
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Cut them off altogether and see how long they last, no gold to then either.
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DeeLA
Champion Author Los Angeles

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Message Posted: Mar 4, 2012 11:11:44 PM
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Okay
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