Loading ...Recent two news for gold as currency!
Will RIT be forced to make gold as part of their currency pool?????
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Venezuela to sell certificates backed by gold ingots to pensioners as inflation surges
President Nicolas Maduro said Venezuela will begin to sell certificates backed by gold ingots as a savings mechanism starting next month, as per Bloomberg.
A Gold Bloc For Iran, Russia, And Turkey…Oh My!
“The “Great Escape” from U.S. financial sanctions for Iran, Russia, and Turkey would be to establish gold-backed currency boards. By doing so, the rial, ruble, and lira would literally be as good as gold. And from one day to the next, a significant gold bloc would be established. Oh My!”
3.5% of world GDP compared to the USA with 25%? Significant? Not hardly, especially where all three countries are now subject to contraction, not expansion. Add to that their ultra authoritarian nature and one would suspect an ulterior motive that is not good for anyone buying into their story.
Good thinking Pit.
If this story is significant wouldn’t there be a gold bull by now ?
Thanks for posting this Bikoo..it bears watching
There is a Chinese proverb about size.
Paraphrasing: Elephant may be strong and mighty but a tiny ant can create a havoc once it gets in the trunk of a mighty.
In 1998 Longtern Capital almost threaten the financial world total collapse with only 350 billion in assets compared to total assets of all hedge funds around the world in 500 trillions and over. Derivatives at the time was $350 T.
Greenspan saved that disaster by bailing out a foreign company with US tax payers money.
But it market caught up in 2008 with a tiny Bear and Stern bellyup and what followed is history.
Ignoring events based on size needs to be rethought.
Timing the impact of such events are to more desirable: They may be on generational scale??
https://www.thebalance.com/long-term-capital-crisis-3306240
Interesting. Gold to 76,000 an ounce. Just wait for these miners to stop going down and buy, buy, buy. 🙂