Asia giants join Iran diplomacy as sanctions hurt trade
This article is more interesting for what it says about Iran's bartering system. Check out the quotes, as well as the following item from Zero Hedge. -- Rice Farmer
- "'The big trading houses are believed to have received crude oil and gold bullion as payment for past deals. The big boys have the ability and financial know how to quickly sell this on without suffering carry losses."
-
"'No one really wants barter payments, but the Iranians appear to be getting their act together and are offering more financial payments in currencies apart from dollars or euros. Yen and Brazilian reals are being mentioned a lot."
- "Another trader said: 'There is talk that banks in Bahrain are playing ball with Iran and helping out with payments. There is also talk that payments are being made via Venezuela.'"
Indonesia says would study any barter approach from Iran
A Very Different Take On The "Iran Barters Gold For Food" Story
