Wednesday, June 2, 2010

Iran Selling Euros for Dollars and Gold

Iran's central bank has announced it will sell 45 billion euros from its foreign exchange reserves to buy dollars and gold, according to China's official Xinhua news agency. Xinhua said the sales would take place in three stages and that the first was already under way


  1. Gold at all time highs in terms of euros, euros near all time lows in terms of dollars, this one is going to compete with Britain's sale of gold at the bottom!

    Great job, ICB!

  2. Easy to look at 10 years later. But at the time, Brown's action did not look that stupid. That being said, I think the Euro is going down the drain of the failed currency, so saving the furniture by buying gold, at the present time, does not look like a bad idea.