Good point about those passages, though.
The thought has crossed my mind.
Posted on 03/30/2022 4:31:12 PM PDT by PK1991
It's official! Russian Central Bank announces that the ruble is tied to gold! 5000 rubles per gram.
The Central Bank of Russia has officially announced that the Russian ruble will be tied to gold as of March 28, 2022, The rate is 5,000 rubles per gram of gold ingots. There are 28 grams in each ounce. 28 grams for 5,000 rubles per gram is 140,000 rubles.
Are you following me this far?
The conversion rate of rubles into US dollar is 100 rubles, 90 pounds, for each US dollar.
If the rubles are tied to gold at 5000 rubles per gram, and there are 28 grams per ounce, which means that an ounce of gold would cost 140,000 rubles, then the conversion into US dollars means that gold costs 1400 dollars per ounce when used the rubles, instead of 1,928 dollars by ounce using the dollars.
Russia just wiped out about 30 percent (30%) of the US dollar worldwide when it comes to gold ingots.
People all over the world are literally throwing their money on the ruble and throwing away dollars and euros to do it. What Russia just did is the financial equivalent of detonating a nuclear bomb.
FYI, the last guy on this planet to try to support a currency with gold was Muammar Quadaffi of Libya.
NATO entered Libya, bombed it to death, until the Libyan people took Quadaffi on the street, beat him with blood and planted a bullet in their head. As of now, 10:39 PM EDT, I suspect bankers around the world are on the phone between themselves and the heads of state, instructing them that what Russia has done will totally destroy both the US dollar and the euro, and those bankers of Frog to the heads of state that world war 3 must start immediately.
Let me explain why.
Today, the Central Bank of Russia anchored the ruble to gold.
Last week, Russia said it would sell only OIL and GAS in . . . . Ruble!
This means that Russian oil and gas are anchored in gold with rubles like gold proxy.
EFFECT: Europe (which needs Russian gas and oil) will now have to buy rubles from Putin using gold, or pay for oil and gas with gold itself.
Currently, the FOREX rate for Rubli to Dollari is around 100:1
BUT... with 5,000 Rubli now equivalent to a gram of Gold, and oil being priced directly into Gold, we will see a MASSIVE price disturbance in the FOREX markets, in terms of how much Gold a Dollar can still buy.
Foreign countries holding our dollar debt notes as a reserve will see an immediate and much less use for them and want to start downloading them in favor of something more stable; something that holds its value.
Basically, any currency anchored in gold will fit into the account. which means countries like that - like Japan - will start unloading their dollar debt as soon as possible - are not going to go down with the ship! They'll move to more stable values like... The Ruble.
This will have a DE-flationistic effect on the Rublo, making it more precious with time. This also means that Putin can re-find the ruble whenever he wants, at 500, or 50, or 10. He just keeps getting more precious to him.
The immediate result is that all those foreign countries dumping their dollar reserves will make all those excess dollars start going home, triggering a worse hyper-inflation than we already have in the USA.
There were some news articles over the years of late hwo Russia was socking away vast amounts of Gold.
Pshhhhhhh. My wife spends that much on her clothes.
If Nixon had not “closed the gold window” the dollar would have crashed with almost unfathomable consequences.
>>> Pay no attention to the economic buffoons nay-saying on this thread.
Well, when it comes to financial predictions, i’m certainly not your go-to guy. Every time i’ve invested in stocks I’ve lost money.
With that said, I do believe Russia is going to somehow come out on top throughout all of this... With or without Putin, Russia will somehow prevail and/or be emboldened enough to turn their attention against Israel and invade it for it’s resources.
This whole thing is about Oil... and that’s where it’s all at right now... in Israel.
I also think that invasion will happen this year... and we already know the outcome from Ezekiel 38.
Good point about those passages, though.
The thought has crossed my mind.
I’m fully aware US dollar history but we are talk8ng ruble 2022.
“Currently, the FOREX rate for Rubli to Dollari is around 100:1”
In fact it is 83 to 1 right now.
The petrol dollar has been on the way out for 10 years. Gold backed currency is going to be the new norm. The US will very shortly be on the new US note which will replace the dollar and will be backed by gold.
>>> I used to mock the NeverTrumpers with Ezekiel 18:2
Well, i had to look it up... something about the mis-application of the parable about the great eagle (chpt 17).
I can see the inference that eagle = US, but I’m at a loss on the connection to never trumpers.
I WAS a Trumper. He lost me over his support of the vaccines after he left office. He would still be better than what we have though.
It had to be this way though... it’s all in God’s timing.
I’ve known for decades that the US must eventually be brought down for the one world government to rise.
That may be true, but to be honest, I don’t know enough of
the economic situation at that time to understand why.
Not sure what they are planning about direct redeemability, but Russian banks sell gold at the window. You used to have to pay a 20% VAT if you took physical possession (but could keep it in a gold-gram-denominated account without the tax), but the tax was dropped a week or two ago. I just checked Sberbank, and they currently quote a 5572/4872 (buy/sell) spread for gold.
Interesting and worth keeping an eye on. Thanjs!
At 83, I have been putting my life in order. I had been thinking about buying some gold coins and leaving to children and grandchildren in my safe deposit box. Now that it is in $1900s I will wait. Would a drop to $1500 be a good time to buy, or is that unrealiztically low? Any advice to a FReeping widow would be appreciated.
Glad to hear Putin has dropped his Rubble demand. Is he getting good economic advice, or is he settling down to the reality of the situation he has created? Does he need to stop bothering Ukraine so they can get their spring crops planted? Do his own people and guys at the front need to be doing the same thing in Russia? Has he decided his own people will be hungry next year if everybody doesn’t get busy creating food?
No one in the cabal wanted these reforms in Libya and the destruction of Libya was ordered.
They bought 250,000 muslim terrorists imported them into Libya and made a plan to destroy the country and they did. They not only dropped more bombs on the country than were dropped in WWII but laced them with uranium and other concoctions so that any women giving birth to children would have kids with birth defects.
Muslim style just like happened in Kuwait they raped as many of the local women as they could with the idea to impregnate them with muslim terrorist babies to further destroy the country.
Qdaffi had discovered an underground fresh water stream that was blown up by Soros lackeys. In other words if there was anything at all they could do to destroy the country they did it.
Soros has always made his fortune on currency speculation. Gold backed currencies are much harder to speculate on. They did everything but destroy the tribes which was a huge mistake. No matter how long it takes the tribes will resurrect the country and one day Libya will be stronger than ever.
Some think that when Trump returns he may place us on the gold standard.
No it won't.
Now do all those countries buying up gold and hoarding it make sense?
This event was years in the making and Biden is either stupid or complicit.
Saudi’s dance for joy in the streets at this news, so does Iran and China.
Check-mate while the progressive left in America keep pushing their stupid ‘green deal.’
Russia will not be hungry. They produce far more food than they can eat. They export the food to China and other countries, especially Africa. So, they should be fine. If you walk into a Russian store all locally produced items are very cheap, even cheaper than they were. Most gas and food is locally produced. The foreign made produces are much more expensive.
You have to realize, Russia is the largest country by land mass. They have far more resources than they can use. China has the largest population but a difficult land mass for farming. They need to import food, gas and oil to feed their people. So Russia and China together are self sufficient. The largest population and manufacturer combined with the largest pile of natural resources. They are perfectly fine together.
The rest of the world needs to also become self sufficient. We need to have economies that don’t depend on Russia or China. For Europe that means not depending on Russian oil. For the US it means not depending on Chinese manufacturing. In both cases working with Russia and China corrupts our businesses who in-turn corrupt our politicians.
If you do buy gold and you can afford it. Give each kid a 1 ounce bar of gold. Its about $2000 a piece. It’s cheaper to buy and sell.
I don’t think it’s going down soon. Gold hasn’t been below $1500 in three years.
I’ll give you the advice that was given to me:
“You need gold to buy your neighbor’s house, his truck, and his daughter. But for day to day business you need silver and to a lesser extent, copper. Because if you buy a bag of groceries that’s worth one or two silver coins and you pay for it in gold the grocer is very likely to say ‘thank you’ and see you on your way.”
The translation is that gold is concentrated wealth and it’s relatively easy to carry. Silver is less concentrated but it’s generally easier to spend.
And I buy 1oz copper coins for the simple fact that they’re worth about the same as a loaf of bread.
In any case, metals are not an investment. They are a place to shelter your wealth.
It’s a good idea to have at least some gold, silver, and copper around because in a pinch there’s no substitute. But before things get that crazy my better recommendation is to buy land.
Something defensible.
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