Oiled In Florida
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User ID: 21945086
 United States
08/14/2012 10:58 AM
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Report Copyright Violation | You Can't Eat Gold? Syrian Crisis GOLD Buys Food, Fuel, Medicines In Economic Collapse "On Sunday, al-Assad issued Legislative Decree No. 53 "on exempting crude gold imports from the importation fees and the domestic costs according to the Law No. 35 for the year 2007".
Gold bullion imports no longer require a special permit and travelers are allowed to bring gold bullion coins and bars with them into the country, the decree said.
The move is a sign of desperation due to the immense economic difficulties facing Syria as its economy is being suffocated through economic sanctions and the civil war.
Like Syrias economy as a whole, its banking industry is severely damaged and some parts of it are close to stopping functioning.
Professor Nouriel Roubini and other financial experts have pointed out that you cannot eat gold.
However, people in nations suffering from currency and economic wars can testify as to how they can use gold in order to buy food, fuel and medicine for their families in difficult times.
Gold is, as it has done throughout history, protecting them and their families from the ravages of currency devaluation and economic collapse." [ link to www.goldcore.com] True, you cannot eat gold. But you cannot barter for fuel or food with paper notes that have lost their value of exchange. In times of economic collapse, as Syria is now facing, gold becomes the value of exchange and barter. Last Edited by Oiled In Florida on 08/14/2012 11:37 AM |
Anonymous Coward
User ID: 21260021
 Netherlands
08/14/2012 11:00 AM
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Report Copyright Violation | Re: You Can't Eat Gold? Syrian Crisis GOLD Buys Food, Fuel, Medicines In Economic Collapse So this Chinese gold farmers thing is real. Gold is becoming the new value. |
Oiled In Florida
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User ID: 21945086
United States
08/14/2012 11:31 AM
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Report Copyright Violation | Re: You Can't Eat Gold? Syrian Crisis GOLD Buys Food, Fuel, Medicines In Economic Collapse So this Chinese gold farmers thing is real. Gold is becoming the new value.
Quoting: Tigershield If we look at history, every currency of exchange that was no longer backed by gold collapsed. The result has always been to then revert to whatever medium of exchange had gold value behind it, as well as gold itself. Is it any wonder why Syria is so desperate for gold right now? |
Anonymous Coward
User ID: 18547134
United States
08/14/2012 11:46 AM
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Report Copyright Violation | Re: You Can't Eat Gold? Syrian Crisis GOLD Buys Food, Fuel, Medicines In Economic Collapse cant eat dollars either |
