Today's big story that doesn't seem to be getting enough attention is the revelation that India will begin to buy oil from Iran using gold (GLD) -- not dollars. This is a big story with a couple major points:
1. It shows the exodus from the dollar is gaining speed. How far off is the tipping point? I post it's not as far off as many would believe. With the major economies of the world facing $7.6 trillion in bond payments due this year, I think the tipping point for a shift out of dollars and into a new monetary system backed by gold is not as far off as it may seem.
2. It shows the increasingly harsh economic sanctions the US has placed on Iran, and the geopolitical tensions between the US and Iran in general, have an effect beyond the two countries involved. India is the second
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