Posted on 10/10/2024 6:39:29 AM PDT by hardspunned
Ever since international sanctions hit Russia and the SWIFT network cut Russian banks from its system, it has become increasingly difficult to buy Russian rubles online or at high street banks and currency providers. The Russian ruble exchange rate has also faced dramatic volatility since February of 2022.
(Excerpt) Read more at monito.com ...
If Trump is robbed again, what happens to the dollar?
Safest investment is gold no matter what currency a country uses gold is excepted.
Without political influence you’re right, you can be assured the US Government plus the Federal Reserve will not go down without a fight and will do everything in the power to undercut and damage any BRIC gold-based currency.
Brics M bridge Unit financial settlement still in development stage. However Russia, China have been running settlements ( testing). Estimated up and running is estimated a year plus.
The world’s De- dollarization can not happen overnight, a slow burn to the bottom is expected. At the USD’s zenith, 85 percent of the world used the USD for settlement, last week it was announced 56 percent are still using dollars….
All eyes on the Brics Summit in two weeks. The US will fight the Unit with everything they have, and that includes War.
transition to a gold backed currency is imho likely to take several months or years. meanwhile investing in russian currency is not helpful since rubles are imho in theory even more subceptible to inflation than the us dollar (compare for example GNPs and consider relative governmental stability).
(also russia is openly involved in a land war right now...)
for hedging, consider instead a gold based ETF such as GLD and physical gold in the form of one ounce coins, in particular the canadian maple leaf (typically carryng less premium than the us double eagle).
also make sure you always have some physical junk silver coin for small change purposes, and for hedge fund investment diversification consider a silver based ETF such as SIVR.
jmo
A note about Brics. It is not an investment, it is a world financial settlement vehicle. It will be an electronic system where Nation’s governments will be buying selling electronically, each nation will still hold their own currencies. The value of each nation’s currency will be based on Gold holdings, commodities holdings ( food, energy, oil, mineral supply, etc).
In time, the USD will fail, as will the Unit.
Just buy gold.
Why would you buy a metals based currency when you can easily own the underlying asset.
Exactly right.
This is not a currency 99% of the people would hold. It’s transactional. And BIG transactions at that.
Actually the Brics have name fore their new currency, its called the Unit. Which the news report stated stood for United New International Trade. It will be 40% backed by gold and 60% backed by a basket of BRICS currencies.
What the sheep don’t understand: when senile Joe took Russia off of the SWIFT payment settlement system, he did two things.
He telegraphed to the world they would “ punish” financially all the Nations who don’t do the US’s bidding.
….but the best part ( he shot the US in the foot), the US lost their ability to track where the world’s money is going and how it is being used. A MAJOR intelligence failure.
Senile Joe the idiot, struck again, hard.
You confuse two issues. The Brics Unit is an electronic settlement vehicle used by governments to conduct trade and commerce. The Unit value will be backed by Gold, energy, etc…physical holdings, not printed paper,printing presses, or paper debt instruments ( like US Treasury notes, bonds).
Sovereign governments will still be using/ issuing their own currencies. At the citizens level, buying Gold will be encouraged and the amount of citizens Gold ownership will ( not specified as of yet) be added to their countries gold ownership “ balance” sheet….the more private gold ownership, the higher value their currency.
China is a good example. The Chines government encourages their citizens to buy gold, they can walk into any bank, or financial institution and buy physical gold with their Yuan paper notes OR sell their gold to the banks for Yuan.
Of importance: China has been estimated to hold over 40 tons of gold- and rising. The US declared amount is only 8,000 tons. The Chinese Yuan has a quasi gold convertibility, USD does not ( not since 1971).
Simple fact, the USD is dying.No one no longer wants a paper note backed by debt and a “ Promise to pay”.
That’s one opinion I do not share.
I presume your “excepted” means accepted. If so try taking a one ounce Krugerrand (worth about $2600) to the store for a load of groceries.
Or a gold bar to the dealer for a new car.
In the US you will be laughed at. Many other countries you will be robbed and lucky to escape with your life.
transition to a gold backed currency
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A true Gold backed currency means it is fully convertible, trade paper notes in for Gold, trade Gold for paper notes. The Unit ( details not yet released) is designed for only sovereign nation members to be using physical Gold for trade and settlements.
Gold is close to being “ Revalued”, to crazy values….evidence? All the major US banks have been ordered to create GRA’s, Gold Revaluation Accounts….think they know something ominous is on tge horizon?
The West is waiting in anticipation for the Brics Summit and any formal announcements about the Unit….( they are petrified).
That sounds good. And a lot of people buy into it.
The truth is another matter. No one is willingly buying the currencies of another of those countries. And unless you are doing business in one of those countries, it won’t matter to you.
I own gold. Enough to get me through any “collapse” of the USD. I understand the usefulness of it. But, the dollar and Treasury bonds are still the most popular and secure investment in the world.
Unless and until the BRICS are selling gold back and convertible bonds…it will be a secondary trading block.
In the US you will be laughed at. Many other countries you will be robbed and lucky to escape with your life.
————
Times are changing. But the fact is we will soon see ( like Venezuela, Argentina, Brazil) Gold and Silver usage widespread.
Every single paper currency (history records 4,000) eventually went to zero, with gold and silver commonly traded in the streets for goods and services.
It is being done now in the NE, many merchants taking silver dimes ( worth $2 apiece) for food, goods and services. When the USD tanks, gold/ silver trading will happen overnight.
I have already made a “ deal” with my local Marathon, the owner is taking pre-64 silver for gas……he is Indian, and preparing for the USD decline.
If the government wants to know where the money is going…it knows.
You make it sound like the entire US government is a bunch of dolts. I agree the executive branch is full of them; but I doubt the NSA pays much attention to them. And there are some smart folks in that puzzle palace.
It will be 40% backed by gold and 60% backed by a basket of BRICS currencies.
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Not quite. The member nation’s currencies will be “ valued” by the amount of gold, silver, metals, food, energy, etc ( natural resources) they hold.
In other words, physical holdings, tangible “ things”. That is why India is sqwaking and having a major part in how currency valuation will be achieved.
You must realize the US knows nothing about the M Bridge Unit. Initial details are to be released during the upcoming Brics Summit.
Do realize M Bridge is an IMF, BID, and World bank digital creation. The Unit is planned to use the M Bridge electronic transfer system. It appears many western financial organizations are in on dethroning the USD…..it’s happening.
Prepare accordingly.
“Project mBridge reaches minimum viable product stage and invites further international participation
“Updated 5 June 2024
Project mBridge continues its development and has reached the minimum viable product (MVP) stage, while broadening its international reach. The project aims to explore a multi-central bank digital currency (CBDC) platform shared among participating central banks and commercial banks, built on distributed ledger technology (DLT) to enable instant cross-border payments and settlement….”
https://www.bis.org/about/bisih/topics/cbdc/mcbdc_bridge.htm
Just buy gold.
Why would you buy a metals based currency when you can easily own the underlying asset.
—————
Bingo, but more importantly, get your wealth out of anything denominated in USD’s….bonds, stocks, equities, dollar bills, etc…and convert the ever decreasing USD paper note into tangible “ things”….PM’s, guns, property, housing, ammo, food, etc….
If the government wants to know where the money is going…it knows.
—————-
The US government lost much ( not all) of its ability to track world assets. SWIFT was a primary intelligence tool.
Mmm-k.
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