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Iran reserves: $120 billion in cash, 907 tons of gold

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Iran reserves: $120 billion in cash, 907 tons of gold

Iran has $120 billion stored in its foreign exchange reserves and possesses 907 tons in gold reserves, according to the chairman of the Tehran Chamber of Commerce.

Speaking to reporters on Tuesday, Yahya Ale-Eshagh said Iran had purchased the gold in recent years at an average $600 per ounce. The current price of gold is now nearly three-times that, at $1730 per ounce.

The chairman said: "We don't have any shortage of foreign currency or gold to meet the local demand".

The official also attributed the recent fluctuations in the gold and currency markets, partially to mismanagement by some state bodies. He called for tighter monetary control by government on commodity and currency markets.

Previously, the governor of the Central Bank of Iran (CBI) had announced that Iran's foreign exchange reserves have doubled in a short time.
 
Its good to have a healthy reserve, but IMO Iran should use most of the reserves for near-war emergency spending. For example, Libya had like 160 bln. reserves, you know what West did? Used Libya's reserves to fund war against its government!

Granted, Iran smartly keeps most of the reserves within the country, but in the case of war whats the point of all that gold and cash just sitting in the vaults? Plus its extra incentive for attackers to get hands on them, to cover their war expenses + profits.
 
Its good to have a healthy reserve, but IMO Iran should use most of the reserves for near-war emergency spending. For example, Libya had like 160 bln. reserves, you know what West did? Used Libya's reserves to fund war against its government!

Granted, Iran smartly keeps most of the reserves within the country, but in the case of war whats the point of all that gold and cash just sitting in the vaults? Plus its extra incentive for attackers to get hands on them, to cover their war expenses + profits.

That is a mistake they have done. Iran had this money since many years and if they had allocated just one third of it, let's say 40 billion dollars to defense spendings things would have been completely different. If in 2007, Iran had gone to Russia which was having financial difficulties back then and offered them to spend 40 billion dollars on 100 Su-30, 200 Mig-35, 30 batteries of S-300PMU2, 1000 T-90, 100 Pantsir S-1 and two dozen Kilo submarines; Russians would have gone crazy. Unfortunately all those money is now sitting there. Now they should open their vaults and spend it on local R&D to compensate. That is the only way they have with sanctions on them.
 
That is a mistake they have done. Iran had this money since many years and if they had allocated just one third of it, let's say 40 billion dollars to defense spendings things would have been completely different. If in 2007, Iran had gone to Russia which was having financial difficulties back then and offered them to spend 40 billion dollars on 100 Su-30, 200 Mig-35, 30 batteries of S-300PMU2, 1000 T-90, 100 Pantsir S-1 and two dozen Kilo submarines; Russians would have gone crazy. Unfortunately all those money is now sitting there. Now they should open their vaults and spend it on local R&D to compensate. That is the only way they have with sanctions on them.

you are wrong my friend... forex are not there for buying weapons only. As the dollar outflow increases iranian currency would depreciates and will increase the inflation. Iran already has a inflation of more than 21 % if I am not wrong.
 
They should use this cash and strike the deals with russia for sukhois and other weapons.
its better to use it rather than becoming a sitting duck
 
you are wrong my friend... forex are not there for buying weapons only. As the dollar outflow increases iranian currency would depreciates and will increase the inflation. Iran already has a inflation of more than 21 % if I am not wrong.

This is not true for Iran since Iran is an oil exporter. Oil in international markets is almost like forex and Iran's inflow of dollars has always been more than its outflow with a permanent positive account balance. Inflation is high in Iran because government is printing money to finance itself and the reason for that being that Iranians do not pay tax so there is no way to recollect all the money government is printing. The government in a tax evading society has only two options: go broke or print money.
 
That is a mistake they have done. Iran had this money since many years and if they had allocated just one third of it, let's say 40 billion dollars to defense spendings things would have been completely different. If in 2007, Iran had gone to Russia which was having financial difficulties back then and offered them to spend 40 billion dollars on 100 Su-30, 200 Mig-35, 30 batteries of S-300PMU2, 1000 T-90, 100 Pantsir S-1 and two dozen Kilo submarines; Russians would have gone crazy. Unfortunately all those money is now sitting there. Now they should open their vaults and spend it on local R&D to compensate. That is the only way they have with sanctions on them.

Exactly, US wouldnt even talk about war in such case. Its good that at least Iran isnt sleeping on cash as Libya did (which barely invested in weapons at all), but not nearly as good as Iran could have invested. As there is saying, money should generate money, or in this case - defense and security.

Example, if war happens now, whatever Iran would want to buy on emergency basis - weapons from under the table or the black market, food, etc., everything would cost 3x or more than it would be pre-war. If Iran wouldnt want to pay markup, then all these reserves would just sit there... waiting for the war winner. So whats the point of sitting on the huge pile of cash/gold? Reserves should be there, but only as much as its really needed to sustain the country under the siege, like ~50 bln. or so would be plenty.
 
Exactly, US wouldnt even talk about war in such case. Its good that at least Iran isnt sleeping on cash as Libya did (which barely invested in weapons at all), but not nearly as good as Iran could have invested. As there is saying, money should generate money, or in this case - defense and security.

Example, if war happens now, whatever Iran would want to buy on emergency basis - weapons from under the table or the black market, food, etc., everything would cost 3x or more than it would be pre-war. If Iran wouldnt want to pay markup, then all these reserves would just sit there... waiting for the war winner. So whats the point of sitting on the huge pile of cash/gold? Reserves should be there, but only as much as its really needed to sustain the country under the siege, like ~50 bln. or so would be plenty.

The worst part is that Iranians knew at the time that their security was in danger and Putin was very much pro-Iran. Not only Iran could buy stuff but also if Iran had paid abit more, they could have got things with transfer of technology. Not only in military field but also in other fields as well. For example they should have bought technology and licenses for building passenger planes from Russia or transfer of technology for other stuff. Iran could have done it easily. Even if they had got only these four items with transfer of technology from Russia for the price of 40 billion dollars it would have been worth: S-300 PMU2, Su-30, Pantsir S-1 and Kilo subs equipped with Yakhont and club-K missiles. But no, they just sat on the money. Qaddafi had near 200 billion dollars but he had no aerial defense. If had spent just 20% of that money he could have bought 100 S-300 PMU2 and 100 Kilo subs. Nato could have never matched that.

---------- Post added at 11:04 PM ---------- Previous post was at 11:01 PM ----------

Any ways, Iranians have the habit to purchase small time. They do not have the orientation to package a deal for maximum gain. They go and buy one single nuclear power station. They go and buy 25 Mig-29 and then they sit on them for two decades minimum. Instead of thinking big and package all deals together.
 
That is a mistake they have done. Iran had this money since many years and if they had allocated just one third of it, let's say 40 billion dollars to defense spendings things would have been completely different. If in 2007, Iran had gone to Russia which was having financial difficulties back then and offered them to spend 40 billion dollars on 100 Su-30, 200 Mig-35, 30 batteries of S-300PMU2, 1000 T-90, 100 Pantsir S-1 and two dozen Kilo submarines; Russians would have gone crazy. Unfortunately all those money is now sitting there. Now they should open their vaults and spend it on local R&D to compensate. That is the only way they have with sanctions on them.
I assure you since Iran doesn't have nuclear weapons,if Iran even bought the twice you mentioned above,U.S would still attack Iran if it wanted.because U.S has one simple strategy: If they can't win the war without huge casualties,they nuke the the enemy and make them surrender.They don't give a damn how many civilians will die.
US doesn't care actually how much weapon Iran buys,their main fear is that Iran builds all of those warfare by itself and becomes completely self sufficient.Like Russia.And Iran exactly is going that way.
 
Iranian are known smart people.

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Smiles tells the warmness and deep bond.

Best of luck to friend Iran. :tup:

We have many many thousands of Iranians in India as travelers, visitors, students, patients, businessmen etc. and more are welcome :tup: :enjoy:
 
I am forlorn at your presumption that the US would resort to nuclear weapons. It is exactly this type of exchange that we are trying to prevent. If America were to attack another nation, rest assured it would be done with conventional, not nuclear, warheads. They have bombs that are equivilent to the one used on Hiroshima that are non-nuclear, I assure you. However, just because they possess them does not mean that they'll use them. If I had to summize a guess at what the strategy of the US will be in the future, then I'd say that they plan to carpet bomb each and every poppy field they can find, not as a result of hostility, but as a result of drugs causing casualties both on and off the battlefield. Either way, they would not go as far as to just up and do it, there would be an initial warning to prevent collateral damage and needless loss of lives. Furthermore, the US encourages other countries to become self sufficient; it makes better fiscal sense to have cooperating countries rather than conflicting ones, however, preventing nuclear weapons falling into the wrong hands (anyone who would actually use them) is most definately at the top of their agenda. Eventually people will realize that these technologies, though abhorable, are still necessary; not for destroying nations, but for destroying inbound asteroids such as Apophis in 2036. I personally can't wait until the day that human beings get their heads out of their fourth point of contact, stop all the senseless violence, and finally begin working together for the sake of the species rather than their own pathetic goals! Afterall, no matter who is in control, no matter how many wars are fought for freedom, religion, or human rights, not one single nation shall remain standing when the next global killer asteroid impacts. Fortunately, we have the technology to prevent it, or at least postpone it a while. Unfortunately, everyone seems to be facing the setting sun rather than turning to watch the sunrise. In other words, to many people from all walks of life are more concerned about the end of the world and trying to make it happen than those trying to prevent it, otherwise Al-Qeada wouldn't be threatening to strike using nuclear weapons, knowing of course that it could create a nuclear war where there would be no survivors. Fortunately for the world, that scenario will not be allowed to occur.
 
907 tons of gold? Thank you Iran. We'll just add this to our reserves after we bring "democracy" to you. In the mean time, please keep the gold safe for us.
 
I am forlorn at your presumption that the US would resort to nuclear weapons. It is exactly this type of exchange that we are trying to prevent. If America were to attack another nation, rest assured it would be done with conventional, not nuclear, warheads. They have bombs that are equivilent to the one used on Hiroshima that are non-nuclear, I assure you. However, just because they possess them does not mean that they'll use them. If I had to summize a guess at what the strategy of the US will be in the future, then I'd say that they plan to carpet bomb each and every poppy field they can find, not as a result of hostility, but as a result of drugs causing casualties both on and off the battlefield. Either way, they would not go as far as to just up and do it, there would be an initial warning to prevent collateral damage and needless loss of lives. Furthermore, the US encourages other countries to become self sufficient; it makes better fiscal sense to have cooperating countries rather than conflicting ones, however, preventing nuclear weapons falling into the wrong hands (anyone who would actually use them) is most definately at the top of their agenda. Eventually people will realize that these technologies, though abhorable, are still necessary; not for destroying nations, but for destroying inbound asteroids such as Apophis in 2036. I personally can't wait until the day that human beings get their heads out of their fourth point of contact, stop all the senseless violence, and finally begin working together for the sake of the species rather than their own pathetic goals! Afterall, no matter who is in control, no matter how many wars are fought for freedom, religion, or human rights, not one single nation shall remain standing when the next global killer asteroid impacts. Fortunately, we have the technology to prevent it, or at least postpone it a while. Unfortunately, everyone seems to be facing the setting sun rather than turning to watch the sunrise. In other words, to many people from all walks of life are more concerned about the end of the world and trying to make it happen than those trying to prevent it, otherwise Al-Qeada wouldn't be threatening to strike using nuclear weapons, knowing of course that it could create a nuclear war where there would be no survivors. Fortunately for the world, that scenario will not be allowed to occur.
I don't understand your logic here.Yes US supports countries to be self sufficient.But only it's strategic allies.Like Israel or UK.US doesn't even want Arab countries as its allies to be self sufficient as they are buying billions of arms every year from her and US should be idiot to lose this great opportunity for its military and arm companies.

And i don't understand what you said about carpet bombing poppy fields since we were talking about Iran not Afghanistan.There is not even one poppy field in Iran.But if US really wanted to carpet bomb those fields in Afghanistan,it had 11 years of time.Why didn't they do it?
And you said US won't let nuclear weapons in wrong hands.disregarding the fact that it's a lie,the problem is Iran doesn't want a nuclear weapon at all.US is only using this as an excuse to put pressures on Iran because they don't want another powerful rival like China or Russia who can challenge US policies in the region and even in the world.US failed to provide even one single proof that Iran is building a nuclear weapon.They are only listening to what Israel dictates to them.

907 tons of gold? Thank you Iran. We'll just add this to our reserves after we bring "democracy" to you. In the mean time, please keep the gold safe for us.
Don't know you are joking or not,but you are not funny.How do you have friends?
 
907 tons of gold? Thank you Iran. We'll just add this to our reserves after we bring "democracy" to you. In the mean time, please keep the gold safe for us.
well If you want it you must pay with blood for it and a great amount of the blood.
by the way hope your soldiers have good protection against sniper rifles as our snipers are equipped
with weapons that are capable to penetrate a Humvee from 3.5km away
 

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