Iran Oil for Turkish Gold

Some important background:

Iran, the new international devil, whose leaders sure speak in devil's tongue, does not have a central bank like the Fed and every other nation on earth where private bankers control currencies and debt.  One can easily understand how bankers want to bring Iran to its knees to beg at the altar of money.

Iran has been placed under the now absurdist "sanctions" by the U.S. and others. It cannot use SWIFT, the critical communication system for international bankers. So, economic alteration had to take place. The micromanagers and idealists never see the obvious consequences to their games:

Gold for Oil

Turkey skirting Iran sanctions by trading gold for crude

 

Turkish Prime Minister Erdogan meets with Iranian President Ahmadinejad / AP

     

BY: Adam Kredo
July 12, 2012 12:29 pm

Turkey has exchanged nearly 60 tons of gold for several million tons of Iranian crude oil, despite its promises to uphold Western sanctions on Iran’s energy sector, according to recent Turkish reports.

By using gold instead of money, Turkey is able to skirt Western sanctions on Iran’s oil trade, particularly those pertaining to SWIFT, the global money transfer service that until recently assisted the Central Bank of Iran and other Iranian financial institutions.

Over the past several months, Turkey has given Iran 60 tons of gold, or more than $3 billion, according to a July 8 report on the Turkish news site Vatan Online. The report was translated by the Open Source Center, a translation service used by the CIA.

The exchanges raise questions about the Obama administration’s decision to grant Turkey a temporary waiver exempting it from U.S. sanctions to Iran, according to foreign policy experts and those on Capitol Hill who speculated that the revelation could spur Congress to pass a new round of Iran sanctions to prevent such trades.

“The idea that Turkey needs a waiver for more time to disconnect itself from the Iran oil trade is ludicrous,” said Michael Rubin, a former Pentagon adviser on Iran and Iraq. “Turkey is playing Obama for a fool.”

“Like a loose school girl, Obama may think he can become popular by giving away the goods to whomever tells him he is the apple of their eye,” said Rubin, a resident scholar at the American Enterprise Institute. “Obama doesn’t understand that for regional rulers like [Turkish Prime Minister] Erdogan and [Russian President Vladimir] Putin, he has gained not respect, but disdain.”...