Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Hi Chris,

The closing down of CBI's gold cash sales was well documented by the media last week. On the original thread at Kitco there are plenty of photos of people pilling up at CBI's bank branches. One of the little bits of info that Iman dropped is a rumor of fake US$ bills in the black market.

As you can read in the thread, folk flocked initially into foreign currency, but once the news came out of CBI's trouble to provide this currency they rapidly moved onto gold. As far as I can tell this was a watershed event that took place on the 20th of December. What is strange about this is that Iran supposedly had 100 G$ in foreign currency reserves at the end of 2010. This sum couldn't possibly be exhausted in a such a short time.


by Luis de Sousa (luis[dot]de[dot]sousa[at]protonmail[dot]ch) on Fri Dec 30th, 2011 at 04:46:42 AM EST
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