Turkish President Recep Tayyip Erdogan speaks at the Kuala Lumpur Summit in Kuala Lumpur, Malaysia.
Posted on 12/23/2019 8:41:23 AM PST by Perseverando
Turkish President Recep Tayyip Erdogan speaks at the Kuala Lumpur Summit in Kuala Lumpur, Malaysia.
Muslim nations looking to fight back against future sanctions are exploring an age-old approach — using gold dinar and bartering.
Leaders from Qatar, Iran, Malaysia and Turkey met during the Islamic summit in Kuala Lumpur to discuss the matter this week.
“With the world witnessing nations making unilateral decisions to impose such punitive measures, Malaysia and other nations must always bear in mind that it can be imposed on any of us,” Malaysia’s 94-year-old Prime Minister Mahathir Mohamad told Reuters.
“I have suggested that we re-visit the idea of trading using the gold dinar and barter trade among us.”
“We are seriously looking into this,” he added.
(Excerpt) Read more at nypost.com ...
They can fax it to each other
Muslim nations exploring gold, barter system to beat sanctions>>>>>>>>>>>>>
USA, UK exploring system of Letters of Marque to private citizens,
(Especially for those whose loved ones have been injured or killed by jihad, to interdict, seize and profit by the Muslim gold/barter system.)
Alahwahoo Goldbar!
If I give him enough beads can we buy the Dardanelles and/or the Bosporus
Turkey doesn’t belong in NATO. They are now part of the Islamic effort to build a global Caliphate.
You’re not suggesting that you will stop using US dollars, are you?
Muhammar Kaddafi did that and look what happened to him.
Oh. Like the pallets of gold, cash, jewelry and ??? sent by airplane from Washington to Iran a few years ago by Obola’s “scandal-free” administration’s State-CIA-NSA-DOE-DOD?
Goods denominated in dollars makes the speed of trade lightning fast. Regardless of the medium of exchange, that medium, corn or gold, will be denominated in dollars. The age old problem of exchanging gold for goods is whether the gold is the advertised purity. There is a reason why dollars replaced gold.
It is not as hard as you might think.
Trade was conducted for a very long time with gold and barter. The Arabs especially had a system that amount to letters of credit and a bank of settlements. I have read that they still do among small traders that operate in the old ways.
The way it works is to maintain identical ledgers and debit and credit accounts on those ledgers for international transactions. In the event of extremely large transactions the settlement might need to be in gold from reserves transferred from one account to another.
At some point, there is a clearing of accounts and actual gold is tranaferred from one to the other. A process like this actually occurs in the Federal Reserve of New York vaults where nations store their gold. the bullion is moved from one place to another within the vault to settle the international accounts. I think the ledgers are kept by the International Bank of Settlements in Geneva and the gold is transferred at storage vaults, one of which is at the New York Federal Reserve. .
Bull! Our nations are thoroughly feminized. We lick Muslim balls here in our own country.
After 9/11 it was revealed that Muslims already had a way (on a much smaller scale) of doing business across borders without much scrutiny; imagine that in the basement of a Quik-E-Mart or gas station in the US there is a similar set of cubbies in the wall, and when your cousin buys something from my cousin “over there” the “banker” take cash/gold/whatever worth the equivalent from the cubby marked “bert” and move it to mine.
Has the Federal Reserve looked lately?
You can’t beat Swift.
The idea behind USA sanctions is to stop financial transactions between countries that "WANT TO DO BUSINESS" with the USA and sneak some transactions with a country that we sanction.
They could trade sea shells, and we would find out.
Sooner or later it comes down to the question of, "Where do you make the most money"?
If it is with a sanctioned country, and you want to try to 'run the blockade', go ahead, make my day.
We need to stop turning a 'blind eye' to russia and china going backdoor to the norks.
If we just grab a ship or two and get the crew off, then sink it, the result would be, no more night time deliveries, or they might try to go big balls, but neither one of them wants any part of uncle sugar's military, not yet.
10-15 years from now, china might give it a go.
Russia can never beat us, but they can destroy the world as we know it, not good.
Yes.....
In the very same manner, remittances to mexico can be transmitted via e mail. Two brothers with some money can easily and profitably set up shop.
There is an outcry about taxing the remittances but such a system(s) operating on fairly small scale can easily avoid such taxes.
I am almost certain such a system was conducted locally by fax back when. It was from a restaurant. Interestingly, they also allowed playing the lottery in Mexico from Tennessee by fax. The workers came in on payday and bought tickets. The owner sent the fax and got a ticket number by return.
My 10th great-grandfather Peter Minuet purchased Manhattan Island in exchange for traded goods. Anything is possible.
Remember. Lucrative profit brings about more balls than you can imagine.
Blackwater on marine steroids.
Bitcoin is untraceable. And “beating sanctions” is probably why Bitcoin once hit the heights that it did. One of the bad actors was using it to evade sanctions.
Thanks Robert A Cook PE. They'll show us, huh? "We don't need your stinky old wealth, products, expertise, trade..."
[from Paraphrase Corner] The problem with single party state barter systems is, eventually everyone has more of the few available commodities than they're ever going to want.
Iran's President Hassan Rouhani, Russia's Vladimir Putin and Turkey's Tayyip Erdogan meet in Sochi, Russia November 22, 2017. (photo credit: SPUTNIK/MIKHAIL METZEL/KREMLIN VIA REUTERS) The Three Amigos
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