MUCH MORE at ZERO HEDGE
Bad Vlad is doubling down on AU
The ultimate meaning of this and what it all means with respect to the global situation aside, if I were whoever buying this 600,000 ounces, I’d demand ACTUAL DELIVERY on payment, especially if this gold came from anywhere connected with the US.
What value is gold? Outside of industrial use the only value in gold is what someone is willing to pay or trade for it.
Anything over the intrinsic value of gold depends on psychology, people thinking having gold is a good thing. A change in thinking would cause the value of gold to drop down to its real value.
Russia would be better served improving her farms, infrastructure, developing raw material and improving her work force. Having gold does not improve the life of her citizens nor increase the wealth of the nation.
At least that is my two cents worth.
This can’t be. Harry Dent says gold is going to $300. Uh huh.
European banks are neck deep in Russian energy investments. This could be a catastrophe indeed, but could easily affect us. Remember how the 1986-7 currency crisis tanked our markets.
When my Molecular Creator is ready and can produce gold, these stockpiles will be worth no more than pewter.
Only fitting for such a “barbarous relic”!!!