Loading ...Russia Proposes New Standard To Compete With RIGGED London Bullion Market Association (LBMA)
To put it in the plainest terms possible, Russia is colluding with a number of other countries to exclude the dollar, the euro and the pound from the system of international settlements, starting with precious metals but not necessarily stopping there. These countries control a lion’s share of gold production. For starters, Russia has fixed the price of gold in rubles at 5000?/g, which works out to $2,447.17 per troy ounce. This compares rather favorably to the current LBMA fix of $1737.84. The days of LBMA’s ability to drive down gold prices using paper gold manipulation appear be running out.
He is saying the “BRICS are not going to sanction the ownership of precious metals”. Why do they care if people own precious metals? I can understand that most if not all of them want the state to own the gold but why do they care about individuals owning it or not? He also implies that the US and rest of the West are going to outlaw gold ownership as well with the line about Biden likely to say that to do so is financing the Russian invasion of Ukraine. I agree with him that is BS but I also agree that it is possible that could be an excuse for making gold ownership illegal, again.