effects of iran sanctions to a farmer paree murarandia

The latest move by the US to slap sanctions on Iran’s Central Bank has threatened the sale of Kenyan tea in one of its major markets.

The latest sanctions mean that buyers will be wary of selling their commodity to Iran because of the expected delayed payment occasioned by the latest sanctions, as local banks will be scared of handling money from Iran for fears of reprisal from the US.

Alafu utaskia mtu akisema MAGA

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And if Iran tries to drop the dollar, to try navigate past this sanction, another problem, if you go black market another problem.
You can’t have peace unless you bow to the US, they won’t let you breath unless you allow them to manipulate you.

Trump is bad news to everyone…even US farmers are crying due to market issues and lack of immigrant casual workers
Akweeeeeeeende

Give it time .Pretty soon we will be trading in the Yuan .The dollar hegemony will soon come to an end

But I thought most countries have their own sovereign currencies… pegged to different currencies.The dollar is mainly used in international trade. And China, India, Russia are trading more and more with their currencies… actually I don’t think the dollar has ever been compulsory to trade in, or maybe you know something we don’t know.

How then, as a Kenyan do you trade with an Iranian?

I guess the Euro, Iranian rial, yen, kshs, gold bullion … whatever iss comfortable between both parties.I read somewhre that Russia is stockpiling gold. The rouble may in future be pegged on gold. The same for China which has been silently stockpiling on gold. This is a great idea, though I imagine they would require massive amounts of gold to completely shed their dollar reserves.

Normally for a country like Kenya, the your transaction is changed into dollars before changing into the next currency that you need.
It’s like the dollar is the midean of all money transactions, internationally speaking.
I don’t think it works for all currency that trade with the shilling. I think the euro and pound are independent of this bit not sure.

No country will be crazy enough to peg it’s value to gold. Because gold fluctuates annually.

You are right gold fluctuates erratically. But economies also fluctuate thereby affecting today’s currencies. The sterling pound was pegged on gold for most of the 19th century.

In the early 1900s the dollar was pegged on gold. Again from 1958 to 1973 the U.S dollar itself was pegged on gold. Remember the Bretton Woods Conference?
Then Nixon came along and changed the system. Today the dollar is pegged on ‘trust’ or fiat paper, some say it is pegged on oil, others say the dollar is empty paper…
Trump wants to return to the gold standard he says the Fed is irrational. He is partly right but the Democrats think he is crazy. The British are also looking kindly at gold though saying nothing. The Russians and Chinese are already amassing vast amounts of gold bullion. Who knows.