Iran says moves Europe funds in nuclear dispute

[tocqueville]

By Parinoosh Arami
48 minutes ago

TEHRAN, Iran (Reuters) - Embroiled in a nuclear standoff with the West, Iran said on Friday it was moving funds out of Europe 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 as saying Tehran had started shifting funds. But he sidestepped a question on whether the assets would go to Asian accounts.

Financial markets reacted nervously to the uncertainty about Iran's foreign holdings, estimated at more than $30 billion, helping send oil to a four-month high above $68. U.S. stock prices fell and the dollar dipped against the euro and the safe-haven Swiss franc.

http://news.yahoo.com/s/nm/20060121/wl_nm/nuclear_iran_dc
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the dark clouds of war are gathering over the horizon...

[Canuckistanian]

1. Chinese banks

No doubt about it. The battle lines are being drawn.

[katty]

3. yes, indeed, they have, follow the money

[HysteryDiagnosis]

2. It's on now... touch their pocketbooks and you have ensured war

rumors of war, and shock and awe.... and since my sig line is turned off....


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[Gloria]

4. BBC this am said "Southeast Asia" and said this might not

shield the money because Southeast Asian countries wouldn't want to basically get in trouble with the U.S.

To which I responded to myself: The same SE Asian countries that cut the US out of their recent conference??

[cliss]

5. Probably Singapore.

I borrowed a book about how to protect your money in case of a global meltdown (stock market, currency crash, even government crashes). The book advised to put one's money in

a) Singapore
b) Switzerland
c) Germany

The book mentioned a couple more countries which are considered to be THE safest on earth. Singapore has virtually no inflation, is extremely stable politically, and they are discreet.