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Page added on April 1, 2012

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Uruguay May Barter Rice for Crude Oil With Iran

Public Policy

Uruguay has offered to export rice to Iran in exchange for crude oil amid sanctions against the Persian Gulf country which limit financial transactions, Fars reported, citing Uruguay’s Agriculture Minister Tabare Aguerre.

Iran, one of the largest consumers of Uruguayan rice, imported about 90,000 tons of the commodity in 2011, the state- run news agency said.

 

Bloomberg



5 Comments on "Uruguay May Barter Rice for Crude Oil With Iran"

  1. DC on Mon, 2nd Apr 2012 2:26 am 

    A tiny blurb here, but signifigant. Many are aware that the US seeks to control ALL trade in oil, that is to say, in US dollars, even if they dont directly control the oil in question, the US still profits greatly from that arragement. What is less well known, the only amerika hates more than countries selling there oil in Euros or Rubles or w/e, is direct trade, oil for another commodity, or even finished goods. Hard to say which they find the greater threat.

    The US will invade, attack or destablize any nations that start to make a habit of the practice. The NY and London commodity exhanges cant skim profit or create petro-dollar recycling off trades for oil. In fact, the exchanges are totally bypassed, even more so than if a different currency is used. Good for both countries, trade for fiat dollars is making less sense when its the US dollar in question anyhow.

  2. pete on Mon, 2nd Apr 2012 3:25 am 

    Or GOLD!
    Oh yea, maybe I should say tungsten plated gold.
    dont search on the latest tungsten gold bars last month.
    thats why I got silver, HA

  3. BillT on Mon, 2nd Apr 2012 3:38 am 

    Looks like the days of the dollar are numbered…lol. Maybe this embargo on Iran will hasten it along? We shall see.

  4. Arthur on Mon, 2nd Apr 2012 9:43 am 

    Barter trade is going to be the Next Big Thing after the demise of the fiat currencies, to start with the dollar. The Germans had a large scale barter trade with South-America in the thirties, something the bankers in London and New York did not like at all, since it bypassed the role of sterling and dollar.

  5. BillT on Mon, 2nd Apr 2012 11:55 am 

    Yes, barter does not let the 1% take their fee. It cannot be allowed. But, they cannot stop it this time. I’m sure they will try. I hope it quickly spreads to China, Japan, India, etc. Oh, that’s right, it has!