india buys oil using gold - what does it mean?, page-5

Hi Pile,

It is also interesting because by threatening military action the US is pretty much digging their own grave.

At the moment the USD has a huge amount of "natural support" because a significant volume of international trade is done in the USD.

If they continue to annoy other countries with their actions then that can only push the move towards doing deals in gold and/or local currencies.

If the US was to lose its "reserve status" the country would go into a depression IMO.

The other interesting news I read/hear was that some countries are now lining up deals to buy the gold directly from the miners.

I don't think this is something that will affect Kentor, as the countries are move likely to deal with the larger players IMO, but if any gold is sold directly then it effectively gets removed from the global supply.