This is what Iraq/Libya wanted to do and we all know what happened to them, this is why the US is furious with Iran, the so called building a bomd is just the same pretext that got the approval for the iraq war.
If india and china use this method of payment it will gather pace and could be the end of the US dollar which is way overvalued. The yanks arnt happy which is to bad
india buys oil using gold - what does it mean?, page-2
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