Iran Starts Ditching the Fiat Dollar, Turkey Repatriating Gold from US

In the early years of the global effort to defeat the belligerent faction of the Western Deep State, the BRICS Alliance had sought to do it in a manner that would have the least negative impact on the population of the West. More than a decade since, and the West has not changed much. They are still in the stage of talking about the true nature of the problem with utmost eloquence.

Some are pinning their hopes on the Q thing. Why these people can’t do the necessary action by themselves, we keep on asking. They are still waiting for others to do it for themselves. They have not realized it yet that all that has happened before, and those that will happen in the future, will be done only by a few committed people wanting real change. The mind control hero redeemer worship is really that effective.

So, the BRICS has no other recourse but to officially start the planned global financial reset by dumping the fiat dollar from their system. On top of the recently inaugurated Chinese energy stock exchange, Iran and other allies are taking measures to end the dollar dominance in the market.

Oil Exporters Ditching Dollar, Switching to Other Currencies

Iran has decided to replace the dollar with the euro in foreign trade, thus joining an informal club of states, seeking to reduce reliance on the US currency in the oil industry.

Iranian government bodies and companies are being encouraged to use the euro as the main currency in their reports, statistics, publications and financial data.

“The dollar in Iran has no place in our transactions today, with traders preferring alternative currencies for their transactions. There’s no longer any need to continue using dollar-based invoices,” said Mehdi Kasraeipour, the Central Bank’s Director of Foreign Exchange Rules and Policies Affairs.

Tehran has responded to the US’ and its allies’ decision to extend anti-Iranian sanctions in March, which the Islamic Republic describes as “US-led economic collusion.”

“This is a politically motivated decision. Transactions in dollars go through American banks, which pose certain risks to Iran. There are no such risks in transactions in euros,“ said Alexander Razuvaev, director of the analytical department at Alpari.

Iran remains the largest manufacturer and exporter of hydrocarbon raw materials in the world, with EU member-states and China being its major beneficiaries. According to the Organization of Petroleum Exporting Countries, Tehran reaps some $70 billion dollars annually from sales of oil. The American dollar is often indicated as the deal currency between the country-exporter and the buyer, with reference oil being rated high even at stock exchanges in London and New York, which makes the dollar so special, granting it the status of the world’s most popular reserve currency.

Experts believe that the US should sound the alarm as Iran has shifted to the euro in its oil dealings; many oil exporters and importers are dissatisfied with the heavy dependence on the American currency. The world is trending to a so-called de-dollarization of the world energy market: such countries as Russia, China, Venezuela, and now Iran, are already on the list.

Since 2016, the St. Petersburg International Mercantile Exchange has been trading for Russian crude in rubles, Venezuela stopped accepting dollars for oil transactions last year, demanding the euro instead, while the Shanghai Exchange launched China’s first yuan-based crude oil futures last month.

Alexey Kalachev, analyst at the company Finama investment, stated that there were no restrictions in bilateral trade transactions in national currencies, which would become a means for Russia, Iran and Venezuela to bypass the risks of dollar transactions being blocked.

“A national currency must be easily convertible and be on the list of reserve currencies in order to become an alternative to dollar in energy transactions globally. China, which has launched yuan-based oil futures contracts, is the closest to the goal,” Kalachev said.

Last week, Iran’s Supreme Leader Ayatollah Ali Khamenei held “foreign intelligence” accountable for the “recent issues on the currency market,” asking the country’s secret services to “defuse the plots against the Islamic Republic.”

The Iranian rial has weakened as US President Donald Trump’s administration approaches a May 12 deadline to stay in or unilaterally pull out of the 2015 nuclear deal that eased the lion’s share of sanctions on Tehran. Despite the implementation of the accord, the risk of further restrictions and penalties has forced multiple companies to avoid or strictly limit their trade and investment in Iran.

Turkey’s Gold Repatriation ‘Sign of Coming End’ of US-Dominated Monetary System

The Turkish Central Bank has decided to bring its 220 tons-worth of gold home from the US. The country’s largest commercial banks have followed suit. Claudio Grass, a Mises Institute ambassador and consultant at Switzerland’s Precious Metal Advisory, explained why the move is a sign of the impending return to global financial multipolarity.

Sputnik: What do you think prompted Ankara to begin transferring its gold reserves out of the US Federal Reserve system?

Claudio Grass: I think there are several reasons for this, but the main might be that Erdogan’s former brother in arms Fethullah Gulen is living in Pennsylvania under the protection of the US government. Erdogan claims that Fethullah [is working with] the deep state in Turkey, which is trying to overthrow his position. So he claims that Gullen stands behind the coup attempt which took place a year and a half ago. Therefore, I think Erdogan does not trust Gullen, and also not the Americans any longer…

On the other hand, the economy is in trouble, and the Turkish lira for a long time has been facing pressure…

On the other side, Erdogan and the Muslim Brotherhood have some power ambitions to bring back a kind of ‘Ottoman Empire 2.0’. He also seems to understand that gold is money, especially given the status of gold in the Muslim world…and its historical status of real money. So by bringing back the gold reserves, he’s showing that he does not count on the US as a partner any longer.

Also, Turkey is still a NATO ally, but it seems Erdogan wants to go his own way, and gold allows him to finance and trade in a currency which doesn’t need to go through the international banking system.

A tank moves into position as Turkish people attempt to stop them, in Ankara, Turkey, early Saturday, July 16, 2016

Sputnik: What impact could this move have on the financial situation in the US? Only last week the Chinese declared that they were introducing the petro-yuan. That’s obviously going to take years to get traction. But it’s all looking as though they’re trying to change the status quo. What’s your feeling about that?

Claudio Grass: Yes, the Chinese are starting to trade in renminbi backed by gold; at the same time they’re planning BRICS trading based on gold. And I think it just shows that gold is becoming part of the system again, and that the East is trying to diversify their risks when it comes to fiat money into gold, which basically is insurance against all the risks which are linked with our current fake monetary system.

An employee counts 100-yuan (15 USD) banknotes at a bank in Lianyungang, in eastern China’s Jiangsu province on January 7, 2016

Sputnik: How likely are other nations to follow Turkey?

Claudio Grass: I think that’s something we can see. The trend that central banks are withdrawing their gold reserves started a few years ago. It shows that nations understand that it’s much wiser to have their gold reserves in their own countries. At the same time, why would they repatriate their gold if they don’t believe that gold is money? We have seen central banks in the West such as Germany, the Netherlands and Hungary bring their gold home, which basically shows that they’re trying to seek a diversification of their own risks when it comes to the US dollar as a world reserve currency.

Sputnik: What is the cause of the tendency to purchase gold and withdraw it from the US? Is it related in some way to the current geopolitical environment since President Trump has come to power?

Claudio Grass: We used to live under the American empire which basically took over after the Second World War; during the last 60 years it has basically just piled up a gigantic amount of debt. The world currency itself has always been the US dollar; even today, roughly sixty percent of all the reserves of the central banks are held in US dollars. At the same time, when it comes to international trade, the US dollar is the dominant currency.

© AP Photo / Mike Groll, File

But [the purchase of gold and its withdrawal from the US] are all signs of disintegration. They are all signs that we are going away from a unipolar world to a multipolar world again.

We are at the end of a long term debt cycle. Everything operates in cycles. We have printed money out of thin air, created it out of nothing for almost 50 years, basically since Nixon went off the gold standard. Since then, the US dollar has been the predominant currency. But everything comes to an end. We cannot fight a debt crisis by piling up more debt, and I think all the currency wars we have seen over the last ten years are signs that the world is changing, and that the world that we know is basically falling apart.

Sputnik: Are the economic consequences of this trend going to speed the end of the American empire, or is it going to take 15-20 years as some people are saying, before China catches up and takes over?

Claudio Grass: If we look into history, all empires ultimately collapse after a certain period of time. At the same time, what all these empires over the last few thousand years had in common was that they collapsed when they debased their currency, diluted their currency completely…I think that’s also what we are seeing today. In 2008 we took out a credit of roughly $140 trillion; today we are standing at $230 trillion. So what we have gone through over the last ten years is unprecedented in history. One day, we will have to pay back the debt, and I think that day is coming closer.

4 thoughts on “Iran Starts Ditching the Fiat Dollar, Turkey Repatriating Gold from US”

  1. Looks like the Khazarians will be stepping up their time table for their planned war between their US tyranny wardog and Iran.

    And Turkey?! Well, I would imagine that they are training and harboring cave dwelling “terrorists,” and “possess WMDs.” “Colin Powell to the UN. Colin Powel, to the UN. Bring your ‘mobile launcher’ photos”

    More bombed schools and wedding parties coming up.

    But never forget, “They hate us for our freedoms.”

    An American citizen, not US subject.

  2. Its all a “Sham” folks…The USA has NO Gold for anyone to repatriate to ANYONE, Bcause they sold off almost the ENTIRE country to the CHINESE….and ALL their Gold, Long ago. Jeepers folks…Its ALL in the “Vatican LIES” video series!

    It’s in parts 3 or 4…Since the USA owed China so MUCH debt, they had to start paying them back via Real Estate since around 2004.
    Now China can use “Eminite Domain” to collect as payment to them.
    Ever wonder about all the “Brush fires” in California Folks???
    So the whole concept of a “Trade War” is a JOKE going bad…REMEMBER…the BRICS alliance is just a “Plan-B” arrangement for the so-called “New World Order”…The Russians are IN on it too Folks…ALL set up along with the FAKE JEW owned financial system.

  3. Swiss franc predicted to fall despite recent rally – Reuters
    https://www.reuters.com/…swiss/swiss-franc-predicted-to-fall-despite-recent-rally-idUS…
    Feb 8, 2018 – But at a time when policymakers are beginning to withdraw extraordinary policy stimulus, analysts expect the Swiss National Bank will stick to its easy-money programme for longer. The central bank says the franc is overvalued and a threat to its exporters, and unwinding monetary stimulus could boost the …

    Swiss central bank ditches mantra on franc overvaluation – Reuters
    https://www.reuters.com/…swiss-snb…/swiss-central-bank-ditches-mantra-on-franc-ov…
    Sep 14, 2017 – ZURICH (Reuters) – Switzerland’s central bank tempered its view of the Swiss franc’s overvaluation on Thursday although analysts said the language shift … But in its quarterly policy assessment, the SNB ditched its nearly three-year mantra that the franc was “significantly overvalued”, as foreseen by an …

    OPEN UP THE ADDRESS, THEN CLICK ON THE GRAPH AND WONDER IF WE AREN’T LOOKING AT THE START OF A CURRENCY WAR. OR HAS THE WAR OF TERROR SO DAMAGED THE WORLD ECONOMY THAT THE SWISS FEEL THEY HAVE TO DEEPLY DISCOUNT THE PRICES ON GOODS SOLD INTERNATIONALLY?

    THE 2011 ANOMOLY CAME WHEN THE SWISS DUMPED ONTO THE MARKET BILLIONS OF EUROS THEY WERE HOLDING.

    REMEBER SWITZERLAND ARE THE RMB HUB FOR EUROPE.

    XE: Convert CHF/USD. Switzerland Franc to United States Dollar
    https://www.xe.com/currencyconverter/convert/?Amount=1&From=CHF…USD
    CHF to USD currency converter. Get live exchange rates for Switzerland Franc to United States Dollar. Use XE’s free calculator to convert foreign currencies and precious metals.
    You’ve visited this page many times. Last visit: 4/25/18

    JEROME POWELL–THE NEW BOSS IS THE SAME AS THE OLD BOSS. LIES ABOUT THE ECONOMIC CONIDITIONS IN THE USA AND TRADE AROUND THE WORLD. YA KNOW, WHY IS THE SWISS NATIONAL BANK (SNB) DEVALUING THE FRANC? I LOOKED AT THE USD AGAINST THE EURO AND DIDN’T SEE A SIGNIFICANT GAIN OF THE USD AGAINST THE EURO.

    VERY INTESTING THE RMB (CNY) WAS WEAK AGAINT THE DOLLAR FROM 2010 TO 2016 BECAUSE THE CHINESE REMOVED THE PEG. BUT SINCE 2017 THE RMB IS WEAKENING AGAIN. WHICH IS GOOD FOR AMERICAN CONSUMERS IF RETAILERS PASS ALONG THE SAVINGS. IT CAN ALSO SHOW THE USD ARE BEING USED MORE FREQUENTLY THAN THE RMB. WHY? ARE COUNTRIES SPENDING THE USD TO GET RID OF THEM? OR, ARE THE WORLD MARKETS BEING FLOODED WITH USD (TREAURIES ARE ALSO USD) THAT WILL COME HOME TO THE USA. WHEN THIS “DEBT” COMES HOME WILL FOREIGNERS DEMAND PAYMENT IN GOLD OR RMB? WILL THIS CAUSE A CURRENCY / GOLD RUN ON THE USA GOVERNMENT? WHY DID POWELL MENTION A SUDDEN INCREASE IN INFLATION?

    THE ONLY REASONS I KNOW FOR THE CAUSE OF INFLATION ARE:

    # DOMESTIC MANUFACTURING PRODUCTION GROWS (NOT ONLY GOODS SOLD BUT MORE GOING OUT ON WAGES FOR NEW HIRERS) FASTER THAN THE AVAILABLE AMOUNT OF M2 MONEY SUPPLY WHICH CAUSES A SHORTAGE OF CURRENCY WHICH RESULTS IN INFLATION.

    # THE FEDERAL RESERVE REDUCES THE AMOUNT IN THE M2 MONEY SUPPLY–HIGHLY UNLIKELY.

    # THAT A COUNTRY HIGHLY DEPENDENT UPON IMPORTS FINDS ITS CURRENCY IS LOSING VALUE OF THE FOREX WHICH MAKES IMPORTS MORE EXPENSIVE.

    # AN UNUSUALLY HIGH DEMAND FOR USA DEBT TO BE REPAID THAT DRAINS THE M2 MONEY SUPPLY.

    I THINK THE MOST IMPORTANT THING HE SAID WAS “that the Fed will not need to raise rates abruptly in the event of a steep rise in inflation.” WHY WOULD WE EXPERIENCE AN “UNEXPECTED” RISE IN INFLATION UNLESS HE WAS TALKING ABOUT CURRENCY WARFARE?

    ____________
    THE FED RES IS INCREASING THE YIELD ON ITS BONDS. THAT MEANS AMERICAN TAXPAYER DOLLARS HAVE TO PAY THOSE YIELDS WHICH MEANS TAXPAYER DOLLARS ARE DIVERTED FROM, SAY, REBUILDING INFRA STRUCTURE. HOW MANY BONDS ARE BEING BOUGHT BY FOREIGNER WHICH MEANS THE USA CURRENT ACCOUNT WILL SHOW THE DEBIT COLUMN SHRINKING. HMMMMM? DOES HE TRUMP ADMINISTRATION HAVE A POLICY? PROBABLY NOT.

    Mr. Powell, in a speech before the Economic Club of Chicago, said the economy continued to experience tailwinds. Referring to the Fed’s policymaking body, he added that “the labor market has been strong, and my colleagues and I on the Federal Open Market Committee expect it to remain strong.”

    “The discussion about tariffs is at a relatively early stage, and we talked about this at the F.O.M.C. meeting a couple of weeks ago now,” Mr. Powell said. “And people really don’t see yet any implications in the near term for the outlook, because we don’t know the extent to which the tariffs will actually come into effect and, if so, how big will that effect be and what will the timing of it be.”

    Mr. Powell also said, in the question session, that he saw little evidence that regulations were holding back the performance of American banks, or that immigration levels were weighing on wage growth in the United States.

    TRump Aims New Threat at China as Mnuchin Warns of Trade War APRIL 6, 2018
    In his speech, Mr. Powell said the Fed saw “other signs of economic strength” in the United States, citing “steady income gains, rising household wealth and elevated consumer confidence,” which he said would continue to support consumer spending.

    “Business investment improved markedly last year following two subpar years, and both business surveys and profit expectations point to further gains ahead,” he said. The recently enacted tax cuts and spending increases are helping to lift investment, Mr. Powell said, adding that “strong global growth has boosted U.S. exports.”

    Mr. Powell only glancingly addressed the March employment report, released Friday by the Labor Department, which showed job growth slowing significantly from January and February and the unemployment rate holding steady at 4.1 percent. The labor market added 103,000 jobs in March — though the monthly average for the year remains above 200,000 — and showed wage growth ticking up slightly.

    Mr. Powell, like his predecessor, Janet L. Yellen, cast that gradual series of increases as a carefully planned strategy to ensure that the Fed will not need to raise rates abruptly in the event of a steep rise in inflation. “The F.O.M.C.’s patient approach has paid dividends and contributed to the strong economy we have today,” he said.

    Powell Touts Economy’s Strength in First Speech as Fed Chief – The …
    https://www.nytimes.com/2018/04/06/…/economy/powell-federal-reserve-economy.html

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