Iranian newspapers are quoting a top adviser to President Mahmoud Ahmadinejad as saying the country has converted some of its foreign currency reserves into gold.IF TRUE, THIS MAY MEAN THAT THEY KNOW OF A MAJOR IMMINENT ATTACK... AGAINST THE WEST - OR AGAINST PERSIAN GULF OIL STATES...
The papers published Saturday did not say how much of Iran's estimated $120 billion in reserves were converted into gold. Iranian officials could not immediately be reached for comment.
The daily Jahan-e-Eghtesad, or Economy World, quoted presidential adviser Mojtaba Hashemi Samareh as saying Ahmadinejad ordered the change.
The decision comes after a dramatic fall in oil prices recently triggered by a global financial crisis. About 80 percent of Iran's foreign currency revenue comes from oil exports.
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