Iran to prepare for a big currency war?

Discussion in 'Indo Pacific & East Asia' started by nmb, Nov 30, 2014.

  1. nmb

    nmb Regular Member

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    “Iran has opened a new gold processing plant, reportedly the biggest in the Middle East, hoping to double its production of precious metals. Using a unique technology, Tehran says it will now mine up to three tons of gold per year. Iranian TV reported that the opening ceremony was attended by First Vice President Ishaq Jahangiri.”


    “It is expected that the plant’s gold production capacity will soon reach six tons per year. Silver and mercury productions are expected to hit 2.5 and 1.5 tons, respectively.”


    “This implementation is part of the so-called 'economy of resistance,' which Iran's Supreme Leader, Ayatollah Ali Khamenei, introduced in February. The policy includes domestic economy building with maximum utilization of the country’s resources, as well as the promotion of a knowledge-based economy and innovation. The ultimate goal is to become the No. 1 knowledge-based economy of the region.”

    RT
     
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  3. Kshatriya87

    Kshatriya87 Senior Member Senior Member

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    How is this a currency war?
     
  4. nmb

    nmb Regular Member

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    Russia is trying to be decoupled from the petrodollar, oil prices stay low therefore hit ruble, Iran is attached to Russia therefore wants to be secured by the only stable value which is gold against a big currency war.
     

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