btt
Their failure in the Ukraine, coupled With the sanctions and that decline will likely increase substantially. Is there any other country in the world that is a having a population decline?
The other side of this equation is dopey joe's insistence on destroying the fossil fuel industry upon which the dollar is boursed. Hypothetically, let's say there's a magic wand that makes dependence on oil go away, and we all drive electric cars powered by happy thoughts - what is the basis of the dollar's valuation then? Nothing. It's worthless scrip.
“if the ruble continues to strengthen (for example due to demand created by obligatory energy payments in rubles), this will also be reflected in a stronger gold price.”
As soon as I read something like that, I know the author is an idiot. A tiny tail does not wag a huge dog.
I’m not an economist, but I play one on FR. I’ve thought one of the best things that could happen to American citizens is if the US dollar’s value was “pegged” to something like a fractional barrel of oil or perhaps a basket of products. The upside is that the government could only issue as many dollars as there was oil or commodities. The downside is that government can’t just wish dollars into existence to fund bridges to nowhere or free money for their private hobbyhorse. (That’s a two-edged sword.) But I feel we need protection from a government with zero fiscal responsibility.
Government used to target two percent inflation which was thought to be a vehicle for growth while protecting to some degree (not a great degree) people who must save for their old age. I think real inflation is much, much higher. But since people who are in government or work for the government aren’t affected by their actions it will never come down again.
Only outside existential challenges, like Russia or China, have any hope of reigning in our “illiberal” (in the original sense) government.
I have always found this fixation on gold to be peculiar.
What is it about gold, that causes humanity to seek it, hoard it, and value it?
As a metal, it’s not particularly useful, but for it’s resistance to oxidation. It’s tensile strength, is poor, it’s shear strength is poor, and as an alloying material there are few positive underlying properties. It’s electrical conductivity is lower than other metals.
Certainly can’t eat it, derive energy from it, or most anything else.
It will all get fixed with digital currency /s
what exactly does “linking” a currency to gold mean? that you can walk into any bank in that nation and use their worthless currency to buy gold at a fixed rate? if so,they’d run out of gold reserves in a day or two ...
1st world military ??
Looks pretty 3rd world to me based on what I’ve been reading.
Just about any story that has the word paradigm shift in it means it’s pretty much irrelevant.
The petro dollar is on its last gasp. This is the start of the QFS system. The US will soon be on a new gold backed US note. Our banks are quietly preparing for the transition. Its a good thing.
You can grab gold nuggets from the Feather River every weekend and make $30,000 a month if you know where to look. Every year new gold gets washed into the river.
Remeber what happened to Qaddafi when he went to the gold standard?
Bookmark for later reading
