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| Syria-Lebanon-Iran |
| Iran Moving Assets Out Of Europe |
| 2006-01-20 |
| Embroiled in a nuclear standoff with the West, Iran said on Friday it was moving its foreign assets to shield them from possible U.N. sanctions and flexed its oil muscles with a proposal to cut OPEC output. "Yes, Iran has started withdrawing money from European banks and transferring it to other banks abroad," said a senior Iranian official, who asked not to be named. Central Bank Governor Ebrahim Sheibani was quoted earlier as saying Tehran had started shifting funds, but he sidestepped a question on whether the assets would go to accounts in Asia. It is far from clear how placing assets in Asia or anywhere abroad would protect them from being frozen as few governments or major banks would be willing to flout U.N. sanctions openly... Yet another incredibly dumb move. Not only would their money have been "safe as houses" in the EU, but nobody in Asia, except maybe Kimmie, will hold it for them against the wishes of the US. I'm sure several will volunteer, at astronomical interest rates, but when push came to shove will halt transactions until the moon left orbit, keeping the "float" in the meantime. |
| Posted by: Anonymoose |
| #8 "Yes, Iran has started withdrawing money from European banks and transferring it to other banks abroad," Remember the premise of Goldfinger? Make Fort Knox radioactive and Goldfinger's assets (gold) increase in value? Why not nuke the banks where the Iran-a-nuts hoard their cash, and everyone else's values rise! Hmmm.... Am I missing something? |
| Posted by: Bobby 2006-01-20 22:03 |
| #7 That's an interesting point, where is the money being banked? |
| Posted by: Redneck Jim 2006-01-20 20:48 |
| #6 China will be happy to bank the money. |
| Posted by: Sock Puppet O´ Doom 2006-01-20 20:41 |
| #5 ...nobody in Asia, except maybe Kimmie, will hold it for them against the wishes of the US. I'm sure several will volunteer, at astronomical interest rates, but when push came to shove will halt transactions until the moon left orbit, keeping the "float" in the meantime. Off the top of my head, here's some possibilities: Brunei Macao Malaysia Myanmar (not ideal, but if there's government-to-government relations, there could be a deal, like an Iranian bank opening a branch there) Lastly, there's China. |
| Posted by: Pappy 2006-01-20 19:23 |
| #4 Kimmie's Toy Bank got shut down for passing funny money. So that's out. |
| Posted by: mojo 2006-01-20 15:43 |
| #3 It makes sense if the balloon goes up and Teheran expects one or more Euro cities to be whacked with nukes. As the old saying goes "follow the money". Taken together in context with M. Chirac's statement on retaliation it appears possible that there is some knowledge/suspicion that the Mullahs may have more in their war chest than we publicly expect. Time to extend our territorial waters to 1k Miles and board or sink any unidentified ships within that zone. |
| Posted by: DanNY 2006-01-20 11:26 |
| #2 Iran's foreign currency reserves are about $50 billion. Don't know how much of it is in European banks. |
| Posted by: ed 2006-01-20 11:00 |
| #1 It would help to know how large Iran's foreign investmnts were. and debt. roughly. 500 billion? Yes, Iran has started withdrawing money from European banks and transferring it to other banks abroad good luck lol |
| Posted by: RD 2006-01-20 10:43 |