Money For Gold?!

Money For Gold?! by Rory – The Daily Coin

I was skipping around looking another article on gold/silver and came across an interesting headline by Russia Today (RT). One would think that a writer for Russia Today (RT) would have an above average understanding of gold and possibly have a view of gold that most people in the world do not know or share. Apparently, in Russia, at least the author of this one article, is no more educated to gold than the average brain-washed American.

The title of an article that is an exercise in redundancy would read something like “Man sells all his dirt replaces it with soil” or “Woman trades in her automobile for a car“. Get the idea? Here’s an actual headline published by Russia Today (RT)

Iranians changing money for gold ahead of US sanctions

I would expect most of the western world readers who know nothing about money, currency, gold or silver to kind of scratch their head and say something like “Yeah, what’s the problem?” The problem, as most of you already know is money is gold and nothing else and we just published an article earlier today to explain exactly this concept, this reality. Gold and money are one-and-the-same. There is currency, all the attributes of money with major exception – money is store of value where currency is not. Gold stores value, while currency is used as a medium of exchange, a unit of account. Cultures that appreciate, understand and store gold as part of their heritage are well tuned to these realities. Cultures, primarily western cultures like the U.S., U.K. and Europe, have been lied to about “money” for the past 100+ years and, therefore, have almost no understanding of how money and currency work. This is the reason western cultures are so indebted and Eastern cultures are not.

We have been following along with the Iranians making massive purchases of gold and find it comforting that people are making plans for a coming storm by acquiring gold and ditching their currency. This will allow the U.S. to institute whatever economic sanctions the warmongers wish and the intended economic consequences will either be 100% avoided or severely weakened. My guess is the economic impact will be of little consequence to the Iranians unless there is another blunder by the “masters of the monetary universe” and they decide to use SWIFT as an economic weapon. This would be a catastrophe if someone decided to use this option a second time.

As RT reported

The first round of renewed US sanctions will take effect on Tuesday with the harshest penalties expected in early November. The US will impose a ban on the country’s automotive sector and metals trading, while further sanctions will target oil and shipping industries.

The imminent ban has tripled year-on-year demand for the precious metal, including bars and coins, to about 15 metric tons, according to the latest report by the World Gold Council. To meet the surging demand Iran’s central bank had to mint hundreds of thousands of coins, reportedly totaling over 60 tons of gold.

With Iran having until November to prepare for the economic blow all the smart “paper money” will have already been converted to physical gold, the metal form of money.

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The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.