“Russia has over 2,300 tonnes—or nearly 74 million troy ounces—of gold, one of the largest stashes in the world.”
That may sound like a lot but at today’s prices that’s only about 150 billion dollars. A drop in the bucket in today’s economies. The US GDP alone is about $20 Trillions!
That may sound like a lot but at today’s prices that’s only about 150 billion dollars. A drop in the bucket in today’s economies. The US GDP alone is about $20 Trillions!
Exactly! Russia's entire gold holdings don't represent even only a fraction of Elon Musk's wealth.
Regards,
"At today’s prices" is the important part.
Gold periodically revalues such that the total value of all gold equals or exceeds the notional value of all credit. This is because creditors eventually insist on being properly paid.
The re-evaluation event has been deferred for years by the expanding, ongoing creation of 100s to 1 synthetic, promissory Gold & Silver. However the moment of truth can't be put off for ever.
The USD is going to collapse - as all fiat currencies in history have collapsed. People will rapidly, desperately try to shift from fiat currency to real money as they realise they have been lied to for decades.
They will be too late. There will be a carefully orchestrated Cyprus-style 'bank holiday'. People's resources will be frozen until they've become fully valueless.
Fortunately there is a way out. One advantage of the crushing suppression is that - right now - the prices of monetary metals are insanely low.