#Greece owes 350 billion and the financial world makes a big deal, meanwhile wall-street has already been bailed out for trillions. Of course any excuse is good to infiltrate a country's sovereignty through economic means.

 

Gold for Oil: India and Iran Ditch Dollar – (Iran and Russia also agree on using own currencies for trade) - Report

Forex News

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According to a new and yet unconfirmed report, India bought oil from Iran using gold. India certainly has the gold resources to fund the oil, while Iran is under pressure by the West, due the continuation of its nuclear program.

There were reports that officials have been floating this idea for some time, and now, as the EU finally decided upon an oil embargo on Iran, more details became available, yet still pend confirmation.


Oil is priced in US dollars, and bypassing the greenback posed challenges for both parties. Two banks are reportedly involved in this deal: India’s state owned UCO Bank and Turkey’s state owned Halkbank.
Both banks don’t have any business with the US and therefore are less vulnerable to sanctions. According to the report, an Indian delegation has spent time in Tehran and finalized the details of the transactions.
The annual capacity of trade between these two countries is 12 billion dollars. With gold trading at around $1668, that is around 7.2 million ounces of gold.

The step joins Russia and Iran’s announcement to begin trading in their own domestic currencies rather than use the US dollar – a reserve currency. 
LINK TO STORY: http://www.reuters.com/article/2012/01/20/russia-iran-currency-idUSL6E8CK0Y720120120

These details about the gold for oil deal come on the day that EU officials announce an oil embargo on Iran starting on July 1st. Tensions between Iran and the West are mounting and oil is already on the up.
The time it took the EU to reach the decision, and the late implementation date make it very easy for Iran to enlarge exports to oil hungry and fast growing Asian countries. Europe will most likely suffer most from the sanctions considering the nations that depend on Iranian oil most are countries in economic turmoil within Europe, including Greece, Italy and Spain.

The use of gold for buying the No. 1 commodity, will likely have positive implications for the precious metal, if this report is confirmed and especially if the use of gold widens to China – the world’s No. 2 economy.

Asian Nations Start Currency Reforms to End their Use of Dollars

On December 25, 2011 it was reported that the world’s second and third largest economies will open currency swap lines in a move to side-step the U.S dollar and conduct trade in their own currencies. In a meeting between Japanese Prime Minister Yoshihiko Noda and Chinese Premier Wen Jianbao they officially announced their governments' intentions to conduct bilateral trade in yuan-yen without using U.S. dollars. The Japanese government said direct yen-yuan settlement should reduce currency risks and trading costs. Japan also announced it will start buying Renminbi bonds to hold as a reserve currency.
China and Japan, long time adversaries who disagree on most issues with regards to foreign policy can agree on one thing…to stop using dollars. Japan also topped off a busy week by signing a currency swap agreement with India with the same stated goal of moving bilateral trade between the two countries out of the USD.

Ignorance Is Not Bliss

(I do not promote any political party or nation)

Although some political movements are in good intention they are destructive at the core because they focus on the surface of   the problem. The lack of knowledge of most protesters is promoting the objective of dividing ourselves and blaming others for our problems, this is exactly what the persons controlling the current system actually want. Chaos, disorder, economic collapse, and most of all fear. These are all orchestrated events, planned well in advance by people who will benefit highly from these predictable behaviours of the masses. You  ask why would the political leaders of today allow these things to happen? The coming global economic collapse of the system is a very well orchestrated event, where a few sources will create massive debt onto nations and buy them for pennies on the dollar when the collapse occurs.  Some political leaders are involved by ignorance and some out of fear for what would happen to them if they would decide to go against the powers that be. Others are just simply profiting from this train wreck waiting to happen. Bankers (money changers) have been trying to implement a system of centralization for thousands of years. Some call it the new world order, I just call it evolution. They are attempting to evolve to be the strongest and most powerful force as all memes and genes do in a fractal sense. In the end it is up to the people to fight for what they believe would be the right way for the pursuit of peace and happiness.

A big part of the problem is that many people most of the time think about what is best for their own personal desires. People are much happier to turns a blind eye as to why Iraq was invaded, so as long as they continue to get cheap gas at the pump back home. Many of the same type of people will protest that others are being taken advantage of by working for inhumane salaries but will turn once again a blind eye as long as they can get cheaper prices at Wal-Mart and other stores alike for items made in countries where people come second to profits.

Central Banking:

John F. Kennedy was a great president of the world’s modern super power. Besides his popular speech that was probably enough itself to get the few at the top of the food chain agitated, he announced that he was going to stop burrowing money from private banks and resort back to the constitution which states that only the government can provide money and be in charge of the money supply of the country, and that all debts shall be payable in gold and silver. Instead the Federal Reserve which is a private institution now prints and lends the money to the American people and charges interest on that debt. According to the founding fathers of The United States Of America this is an act of treason. Remember those men?  The ones that risked being hung by writing and signing the constitution. I wonder what they would think of the current empire they were hoping to secure by signing the constitution. There are echoes of  JFK coming from another presidential candidate of modern day, his name is Ron Paul, I wonder if the same would happen to him would he get elected, my guess would be yes. Although his memes would spread a lot further in today’s age of information if he would be assassinated.

Let’s take a look at some more modern day individuals that have attempted to challenge the US Dollar backed by the world’s biggest private banks. Although not as democratic as JFK in their methods of governing, it is interesting to note none the less. Less than a year before Iraq was invaded Saddam Hussein announced that he would stop trading his oil in US dollars and would only accept Euros instead. This is a good time to point out that the US dollar is the global reserve currency at the moment and all oil transactions must first be converted to US dollars before any transaction is made in other currencies. We saw what happened to Saddam Hussein when he attempted to challenge the US dollar. Coincidence? Move onto Libya, Less than a year to the invasion of Libya Gaddafi announced that he would create a new currency backed mostly by gold, he named it the Dinar. He is now dead, murdered with no fair trial as international law permits, and so is his idea for a new currency that would compete with the US dollar. Now I know there are far more than just one reason for the invasions of these nations however you can rest assured these were not merely coincidences.

A destabilization of the oil rich states in the Middle East is in the agenda, so don’t get too comfortable with today’s low oil prices, they are heading much higher in the near future. There are oil reserves being held in certain countries that will only be released once a certain price for oil is reached, and today’s prices are not profitable enough for that to happen.  

Quantitative Easing:

The massive amount of money being printed by the Federal Reserve and other private central banks around the world is going to lead to hyper-inflation. The fact is many politicians and economists try to confuse you by suggesting that printing money may lead to inflation or that they have a plan to take the money they print out of the money supply before it causes inflation, however do not be deceived by this language used by bankers to deter the common person whom doesn’t have the extensive knowledge of how money works and where it comes from, from asking further questions. I would advise anyone who hasn’t seen the documentary Money Masters, to do so. The truth is the moment you print money you are creating inflation. It will not lead to inflation, it is inflation. By definition inflation is an increase in the money supply and deflation is a decrease in the money supply. So inflation begins the moment you print, not later down the road as if it were a symptom of the disease, it is the disease. If you understand this simple fact you will also understand why food prices and prices for precious metals have increased so rapidly in the past few years.

As smaller banks and nations accept this debt (bailouts, money printing) they will simply be foreclosed on and will be bought out by the few bigger banks at the top during the collapse. Before the collapse is allowed to take place, massive amount of debt will be accumulated. These bankers have no nationality and do not care about any individual nation. They are simply the profiteers of this carefully orchestrated plan to total ownership and power.

There will be a massive transfer of wealth away from the middle class in the coming years, it would be wise to take the right steps towards protecting your family. Understand that this has happened many times in history to many countries and empires and only those who were prepared had the best chance for survival. I suggest you start, if you haven’t already, transferring your paper money into hard assets such as gold and silver instead of holding paper promises made by the same people that are devaluing the value of fiat currencies by simply printing more of it. By paper money I mean everything that holds your funds on paper, such as fiat currencies, including equities, mutual funds, etfs, pool accounts etc. I do not deny that there is still time to profit from such investments as they are likely to go up in the short term because of inflation however it is a very high risk to take knowing that a run on the American dollar and banks is just around the corner.  Only a simpleton can’t see that the debt being accumulated all around the world can never be paid. Here is a statistic that you can check for yourself, if the American citizen was taxed 100%, it still would not be enough to pay off the debt and all liabilities accumulated. In this sense I consider the American dollar to be the greatest Ponzi scheme of all time. Amazingly nobody has gone to jail for all the criminal and immoral activity on Wall Street and in the banking system, it is not that surprising, rationally how do we expect the same people that are controlling the game to throw themselves out of the game?  The same way governments turn to the same people who have caused all the economic problems of today to fix them. We are allowing the same mistakes that happened in history to repeat themselves. Since the Federal Reserve was brought into control of the money supply in 1913, the US dollar has lost more than 95% of its purchasing power. Gold did not lose any purchasing power. Governments argue that gold isn’t money, so why is it so widely held by banks as a reserve? Gold is the only real money because governments can’t just print more of it whenever they need funds to expand their empires. How would have the US funded all its military spending had the US dollar still been pegged to gold, they simply wouldn’t have. That’s why in 1971 the gold standard was removed from the US currency and it simply became another printable fiat currency.

The Solution:

Modify the everyday things in your life that support the current system. If you understand that bankers are stealing your wealth by devaluing your currency,  simply take your money out of the bank. If you want to challenge low wages in countries such as China stop consuming useless items that you do not need that are made in China, instead buy domestic to promote production and job creation in your own nation, you’d be surprised at how many things in your life make that list. Also stop resorting to government or other people in general to help you without taking the proper precautions, because in the end it is your responsibility to protect yourself and your family. In a case where natural disaster or economic collapse can leave store shelves empty and interrupt your access to water or even food, government officials will not be able to help you. The benefit of our species is that we were able to plan ahead, that’s how our ancestors were able to help our species grow to one of the most dominant species on our planet, that’s what got us this far. Instead of waiting for disaster to come, be prepared. Not storing water in food for at least short term can be the difference between life and death for you or your family. When you seek advice from a medical professional and he/she skips on asking you in their inquiry about your diet and lifestyle and goes directly to prescribing you prescription drugs to treat yourself, research the ingredients of those drugs yourself before blindly taking them into your body. Everybody knows you are what you eat, so before you fill your body with potentially harmful chemicals, especially those pitched by psychiatrists, do your research. Your mental well being may depend on it. I am not saying that all doctors are evil and out to get you, at most the doctor is simply doing his/her job and is primarily concerned with feeding their own family. It is your responsibility to conduct further research on what you are prescribed and what other more natural alternatives you might be able to take. Since corporations and state have become hand in hand in most cases such as the pharmaceutical companies, amongst many others, the main objective has been to maximize profits at all costs, even at the cost of life. It is not a conspiracy, it is simply what corporations do, maximize profits. If a doctor is told to vaccinate your child with a certain vaccine by his superiors in the industry he/she is simply doing his job by doing so. If your child gets neurological damage due to the some of the preservatives used in vaccines, such as mercury used in many of today’s vaccines, that becomes your problem for not being more vigilant. I’ll put aside my theories on how vaccines may be one of the causes of the rise in autism in children due to my lack of scientific evidence. However it has been scientifically proven that mercury actually kills cells in the brain if the mercury is not expelled from the body quick enough. Question psychiatrists when prescribing mind altering chemicals when in fact a scientific physical test has never been done to prove there is a chemical imbalance in the brain that causes certain behaviour disorders, as suggested by the DSM committee. The age old question is who benefits? The ones selling the drugs. Considering the pharmaceutical industry is a billion dollar yearly industry it is not surprising that doctors don’t ever recommend one natural plant amongst thousands of medicinal plants used by eastern medicine for thousands of years proven to cure so many illnesses and depression. Many corporations have found their ways into our lives by using tactics such as bribery and lobbyists at the tune of millions and billions of dollars that have found their ways into the pockets of selfish politicians, scientists and even doctors. For corporations and corrupt politicians the profit for treating disease is very profitable. Finding cures might make a lot of sense, but it doesn’t make a lot of dollars.

George Georgoudakis

GGG Commodities Fund

 alldaytrader@rocketmail.com