Sour Mash Posted March 7, 2022 Share Posted March 7, 2022 Just now, Roman Roady said: Thats what I was alluding to in my post. If the Russians and Chinese collude over this then there could be a gold backed Rouble with Russian exports to China paid for in gold. Gold hit $2000 today by the way. All it would really take is for China and Russia to agree to trade in 'not-dollars' (whatever form that may take, maybe each other's currencies or some sort of SDR that is a combination of the two)... What does China need - Energy and Food What does Russia need - 'Stuff' What does China produce - 'Stuff' What does Russia produce - Energy and Food. .. you have everything you need right there for a fully parallel trade system and trading currency. That alone would weaken the dollar and hamper the West's ability to sanction them significantly. But If they then go gold-backed on top, it's game over for the abuse of dollar hegemony form the US. Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted March 7, 2022 Share Posted March 7, 2022 2 minutes ago, Sour Mash said: All it would really take is for China and Russia to agree to trade in 'not-dollars' (whatever form that may take, maybe each other's currencies or some sort of SDR that is a combination of the two)... What does China need - Energy and Food What does Russia need - 'Stuff' What does China produce - 'Stuff' What does Russia produce - Energy and Food. .. you have everything you need right there for a fully parallel trade system and trading currency. That alone would weaken the dollar and hamper the West's ability to sanction them significantly. But If they then go gold-backed on top, it's game over for the abuse of dollar hegemony form the US. Yup and the Gold and goods will go over land if necessary...not a lot the USN can do about that. Quote Link to comment Share on other sites More sharing options...
Data Dave Posted March 7, 2022 Share Posted March 7, 2022 1 minute ago, Roman Roady said: Thats what I was alluding to in my post. If the Russians and Chinese collude over this then there could be a gold backed Rouble with Russian exports to China paid for in gold. Makes sense that they would collude. Who stands to benefit from high oil prices and an attempt to weaken the dollar or undermine it as the worlds reserve currency...both of them. Although did you see Powell last week I think he said something along the lines of the world could have two reserve global currencies. 5 minutes ago, Roman Roady said: Gold hit $2000 today by the way. Thematic play for me Gold LONG Energy Sector LONG(S) Plug Power Cloudflare LONG to prep for Russian bot attacks (currently underwater) Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted March 7, 2022 Share Posted March 7, 2022 If I were in the Russian CB/Govt and a load of my reserves had been frozen, I would go for something that I can hold and defend. Guns 'n' Gold doesnt sound quite so "tin hatish" now. Quote Link to comment Share on other sites More sharing options...
Data Dave Posted March 7, 2022 Share Posted March 7, 2022 8 minutes ago, Sour Mash said: All it would really take is for China and Russia to agree to trade in 'not-dollars' (whatever form that may take, maybe each other's currencies or some sort of SDR that is a combination of the two)... What does China need - Energy and Food What does Russia need - 'Stuff' What does China produce - 'Stuff' What does Russia produce - Energy and Food. .. you have everything you need right there for a fully parallel trade system and trading currency. That alone would weaken the dollar and hamper the West's ability to sanction them significantly. But If they then go gold-backed on top, it's game over for the abuse of dollar hegemony form the US. For sure. Have you read any Jim (James) Rikards? The worry for me long term is BRICS. Brazil, Russia, India, China & South Africa Goldman wrote this in '03 https://www.goldmansachs.com/insights/archive/archive-pdfs/brics-dream.pdf Looking at global projections of the world largest economies by 2050 its all BRICS - we just 'aint in it......! Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted March 7, 2022 Share Posted March 7, 2022 1 hour ago, Data Dave said: For sure. Have you read any Jim (James) Rikards? The worry for me long term is BRICS. Brazil, Russia, India, China & South Africa Goldman wrote this in '03 https://www.goldmansachs.com/insights/archive/archive-pdfs/brics-dream.pdf Looking at global projections of the world largest economies by 2050 its all BRICS - we just 'aint in it......! Germany, France and Italy have substantial gold reserves. The UK - not so much. Thanks Gordon! Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted March 8, 2022 Share Posted March 8, 2022 Thar she blows, $2000 breached Quote Link to comment Share on other sites More sharing options...
warpig Posted March 8, 2022 Share Posted March 8, 2022 Yep... good start to the day! Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted March 8, 2022 Share Posted March 8, 2022 Us "Tin Foil Hatters" don't look so stupid this week do we? I guess we get it right once every 10 years 😃 Quote Link to comment Share on other sites More sharing options...
killerbee Posted March 8, 2022 Share Posted March 8, 2022 Someone wake Goldfinger up. Quote Link to comment Share on other sites More sharing options...
longgone Posted March 8, 2022 Share Posted March 8, 2022 i made some money from buying an asset. 🤣 could we see $3000 by april. Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted March 8, 2022 Share Posted March 8, 2022 Yawwwwwn... is it time for me to wake up yet? Also, when to sell the Pd that I bought rock bottom 2008/09? Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted March 8, 2022 Share Posted March 8, 2022 (edited) 50 minutes ago, killerbee said: Someone wake Goldfinger up. Mwuahahaha - great minds think alike! I really only saw your post after I had made the other one. LOL Edit: And I got to admit I even bought some shiny over the past weeks. Not that I hold lots of cash anyway... Edited March 8, 2022 by Silverfinger Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted March 8, 2022 Share Posted March 8, 2022 (edited) On 05/03/2022 at 10:06, Roman Roady said: Thinking on about a gold backed Rouble, wouldn't they need to be fairly confident about the amount of gold in the world and where it is? Otherwise the potential for the value of the currency to change after linking would be high. He might as well link the Rouble to BTC. The last country to do this was the US in 1944? I'm pretty sure they knew where most of the worlds gold was back then! How else do you price it? Some figures I have heard is that there is roughly 160k tonnes above ground of which 35k is in central banks. Russia appears to have approx 2300 tonnes which is quite a lot but the big unknowns are the USA and China. There have been persistent rumors that the US don't have their stated reserves (remember the repatriation of the German gold?). https://en.wikipedia.org/wiki/Gold_reserve — International Monetary Fund 2,814.0 N/A — European Central Bank 504.8 34.3% 1 United States 8,133.5 66.3% 2 Germany 3,359.1 66.0% 3 Italy 2,451.8 62.9% 4 France 2,436.4 57.8% 5 Russia 2,298.5 21.4% 6 China 1,948.3 3.3% Perhaps Putin and Xi know more than they are letting on. My guess is you have to x5 to x10 those Chinese numbers. And theirs is possibly unencumbered, which is not so clear about the U.S. gold. Edited March 8, 2022 by Silverfinger Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted March 8, 2022 Share Posted March 8, 2022 (edited) Most importantly, I do think that gold still is dirt cheap at this point. But the window to buy it easily may be closing soon. BV and GM will be the way to go when all coins are gone. Edited March 8, 2022 by Silverfinger Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted March 8, 2022 Share Posted March 8, 2022 (edited) On 11/01/2022 at 03:37, warpig said: Hello!!! Indeed and that cup and handle pattern is just too impressive, not to finally make its move... it's coming! We've all been waiting a long time... Agreed. The mainstream media has started to spout the wrong kind of news for quite a while now, too. It's all inflation and zero interest. Holding no gold is pure financial insanity. The whole Ukrainian thing does not help with price suppression either, and if China ever takes Taiwan, the gig will 100% be up, as they will most likely declare their gold reserves then. Which, IMO, are vast. Edited March 8, 2022 by Silverfinger Quote Link to comment Share on other sites More sharing options...
Data Dave Posted March 8, 2022 Share Posted March 8, 2022 45 minutes ago, Silverfinger said: My guess is you have to x5 to x10 those Chinese numbers. And theirs is possibly unencumbered, which is not so clear about the U.S. gold. The other thing about the Chinese is they 'own' vast areas of Africa. So not only do they hold bullion they have the means of production too with mines. Which is a bit like why Canada actually holds very little gold, they state that if they need it, they will mine it as they own the resources.... Quote Link to comment Share on other sites More sharing options...
Warlord Posted March 8, 2022 Share Posted March 8, 2022 Quote Link to comment Share on other sites More sharing options...
warpig Posted March 8, 2022 Share Posted March 8, 2022 Why has the POG flat spotted? Circuit breaker? It only does that at the weekend... I've checked multiple charts. Quote Link to comment Share on other sites More sharing options...
warpig Posted March 8, 2022 Share Posted March 8, 2022 1 hour ago, Warlord said: Can't we avoid talking about BTC here... Quote Link to comment Share on other sites More sharing options...
warpig Posted March 8, 2022 Share Posted March 8, 2022 6 hours ago, Silverfinger said: Agreed. The mainstream media has started to spout the wrong kind of news for quite a while now, too. It's all inflation and zero interest. Holding no gold is pure financial insanity. The whole Ukrainian thing does not help with price suppression either, and if China ever takes Taiwan, the gig will 100% be up, as they will most likely declare their gold reserves then. Which, IMO, are vast. Absolutely... negative real rates, war, monetary reset and financial instability is when gold comes into its own. Quote Link to comment Share on other sites More sharing options...
warpig Posted March 8, 2022 Share Posted March 8, 2022 13 minutes ago, warpig said: Why has the POG flat spotted? Circuit breaker? It only does that at the weekend... I've checked multiple charts. Is it because Sydney's underwater? Quote Link to comment Share on other sites More sharing options...
markyh Posted March 9, 2022 Share Posted March 9, 2022 On 08/03/2022 at 09:19, Wurzel Of Highbridge said: Us "Tin Foil Hatters" don't look so stupid this week do we? I guess we get it right once every 10 years 😃 You are just selling to greater fools like 2011, Gold is a giant Ponzi. Everyone will be in tears when it crashes in price or a nuclear heatwave melts their stash. Quote Link to comment Share on other sites More sharing options...
Blobsy Posted March 9, 2022 Share Posted March 9, 2022 Not heard of this guy before. Fascinating interview (1hr), mainly geo-political but gets to gold at the end. 0:00 – Introduction 1:04 – Predicting Invasion 16:30 – NATO and Conflict? 23:57 – Europe and Energy 25:48 – China & Russia 29:04 – Russia & Commodities 31:16 – Global Energy Shocks 35:35 – Doomsday Bubble 38:24 – Dollar Outcome 40:44 – West Outlook 45:33 – Hedging The Risks 49:15 – Sector Rotation? 50:35 – Crypto Market Thoughts 52:05 – Metal Price Targets 53:35 – Gold Standard & Putin 58:49 – China Gold Reserves 59:38 – Wrap Up Quote Link to comment Share on other sites More sharing options...
Arpeggio Posted March 10, 2022 Share Posted March 10, 2022 9 hours ago, markyh said: You are just selling to greater fools like 2011, Gold is a giant Ponzi. Everyone will be in tears when it crashes in price or a nuclear heatwave melts their stash. If a building it's in burns down you can recover it in a melted splat shape, while the rest of the place is obliterated & any cash missing the "c". On 08/03/2022 at 09:19, Wurzel Of Highbridge said: Us "Tin Foil Hatters" don't look so stupid this week do we? I guess we get it right once every 10 years 😃 It may tamp down again. How much? who knows. Buy more. Quote Link to comment Share on other sites More sharing options...
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