“The sums involved are enormous. Official Turkish trade data suggests nearly $2 billion worth of gold was sent to Dubai on behalf of Iranian buyers in August. The shipments help Tehran manage its finances in the face of Western financial sanctions. The sanctions, imposed over Iran’s disputed nuclear program, have largely frozen it out of the global banking system, making it hard for it to conduct international money transfers. By using physical gold, Iran can continue to move its wealth across borders. Turkish trade data confirms the gold is being transported to Dubai by air.”
http://www.reuters.com/article/2012/10/23/us-emirates-iran-gold-idUSBRE89M0SW20121023
Related posts:
Reality Check: RNC Pulling Out All Stops To Keep Ron Paul's Name Out Of Nomination
Making a Crypto Utopia in Puerto Rico
American teens savvy to smartphone apps that include location tracking
The Awesome New Bullet Billed as a 'One-Shot Manstopper'
Belgium opens beer temple in former stock market building
Edward Snowden’s leaks cause editorial split at the Washington Post
Defense Secretary Panetta admits the Pentagon and Clinton supported arming Syrian rebels
An Economist's Call For A Global Tax on Wealth
Police officer shoots unarmed man 41 times, reloading twice
Swiss to Ban Big Cash Purchases to Curb Money Laundering
$1bn payout expected as Russian regulator pulls plug on ‘dubious’ bank
Student shot in head by cop while being used as human shield during home invasion
10 things baby boomers won’t tell you: The aging Me generation is still putting itself first
Flipping Off Police Officers Constitutional, Federal Court Affirms
Federal court upholds California ban on foie gras sales