Strong Evidence of Gold Backed Cryptocurrency – Iran Joins The Conversation

Strong Evidence of Gold Backed Cryptocurrency – Iran Joins The Conversation by Rory for The Daily Coin

We have been reporting on gold backed cryptocurrencies since ZenGold was announced in 2017. We also reported on the rush to bring more than 25 gold backed cryptocurrencies to market as we were all told this was supposed to be a “game changer” – I thought for sure it would shake the physical gold market, but as it turned out the gold market was completely unimpressed and all these gold backed cryptocurrencies actually had zero impact.

In January 2018 we fist reported on el Petro, Venezuela’s gold, diamond and oil backed cryptocurrency that is actually being traded with Russia, likely, centered around Venezuela’s oil and gold. Diamonds are the last thing Russia needs.

With the development of several other gold backed cryptocurrencies, mostly failed attempts, the ones that have been of most prominence the three mentioned above, along with Russia discussing their desire to have a gold backed cryptocurrency for global trade settlement and just recently the President of Malaysia expressing the need for an Eastern world gold backed cryptocurrency. This is all well and fine, but the reality of the situation is Venezuela, for it’s faults, is using a gold backed cryptocurrency, right now, and trading with Russia.

Enter Iran, Sanctions and the weaponized Federal Reserve Note

Iran’s economy has been hijacked by the SWIFT system and then placed in lockdown by the use of the criminal Federal Reserve Note, U.S. dollar. What has happened to Iran is nothing short of crimes against humanity.

More Physical Gold Moving Into Cryptocurrencies

It’s really no secret as to the rising tensions between the West, Iran, Russia and China. Western allies, U.S. and U.K. stand opposed to anything and everything these four nations attempt to bring to the table. Why? It’s simple. The alliance of these nations represents the imminent demise of U.S. and U.K. power over the world. The European Union, at least 10 of the nation states, recognize the need for relationships with Iran in particular. Theses nations have signed an agreement, and are encouraging other EU members to join, to open trade with Iran through an alternative payment system called INSTEX.

Not only are these 10 nations encouraging others with the EU to join, now Russia has approached the EU and stated they would like to join the INSTEX payment system to avoid current and future sanctions against their nation. While the number of EU members is less only about 1/3 of the total 28 members, its growing in stature as the plethora of articles that have surfaced around the world regarding Russia approaching the EU about membership.

Iran has oil they are NOT ALLOWED to sale! Think about that for just a minute. The EU has a need for oil. Iran selling oil to the EU would be a relief to all the nation states throughout Europe. The bullies in Washington DC would rather push the world towards war than allow Iran to sell oil to whomever they wish.

The next logical step is to find another route. The warmongers in Washington DC are one-trick-ponies – war, war, war. They never think of alternatives as this would crush their power and their wallets. Iran, Russia and China have thought a lot about alternatives and have been working on alternative payment systems, alternative financial systems and alternative ways to conducted global trade that have nothing to do with the U.S., the Federal Reserve Note nor anyone who wishes to continue to be enslaved by the hegemonic dollar system. They will be happy to trade with anyone, but in the near future, trade will be conducted using something other than Federal Reserve Notes. As much as we don’t like what we coming, we believe it will be arriving no later 2025. Probably much sooner than that date, but we are being conservative. Remember, these nations have been working since 2009 to make changes. Ten is a long time to build a foundation and run test.

A World In Change – Shanghai Cooperation Organization: Alasdair Macleod, Craig Hemke and Dave Kranzler

As stated, Russia has been working on a gold backed cryptocurrency for some years. Malaysia would like to see a gold backed trade note and Venezuela has a working gold backed cryptocurrency. Now, Iran has stated, publicly, they are going to develop a gold backed cryptocurrency.

After clamping down on bitcoin miners earlier this month, Iranian bank officials are making an about face and are backing an “indignized digital money” that will be mined under the permission of the Central Bank of Iran.

According to a report by the MEHR News Agency dated July 13, the cryptocurrency will be tied to precious metal.

“The Iranian cryptocurrency is backed by gold but its function is similar to foreign rivals,” said Shahab Javanmardi, an official with the Iran Chamber of Commerce, Industries, Mines and Agriculture, in an interview with MEHR.

“The domestically-encrypted money is to ease optimal use of Iranian banks’ frozen resources.”

The Trump administration has been ratcheting up sanctions on Iran after Trump tore up a nuclear deal negotiated by his predecessor Barak Obama. Source

If this is not a strong enough warning that major currency and global trade changes are just around the corner I’m not sure what could possibly get peoples attention. With all the tension, gold acquisitions around the world, global trade shifting via the BRI and other massive trade alliances, what else does one need to see to understand we are going to awaken and find Russia, China and Iran sitting at the head of the table, dictating the policies of the new global alliance?

The remaining question that I have been asking for the past several months is the impact on the physical gold held by citizens. I can’t help but believe that China will push for gold to be used within their borders for everyday purchases since they have been encouraging their citizens to hold physical gold, but what about the rest of the world? India could easily align with China and allow / encourage their citizens to use gold and silver as currency. What about you? Will you be allowed to use gold / silver to purchase groceries, pay your heating oil bill or pay off your mortgage?

It’s coming and it seems the picture, while still muddy, seems to be clearing a bit with each passing day. There is not one article that is linked above that is more than 2 years old. All the infrastructure has been built out. The testing has been ongoing for the past 2+ years and now we are seeing more and more nations stepping-up to demand a change and demand the Federal Reserve Note, world reserve currency, be replaced. What will the global trade landscape look like 2 years from now?

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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.