Russia says gold is worth $1600/oz
cohodk
Posts: 19,118 ✭✭✭✭✭
Excuses are tools of the ignorant
Knowledge is the enemy of fear
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cohodk
Posts: 19,118 ✭✭✭✭✭
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Are they selling it for that?
Martin
I read that If any "unfriendlies" want russian oil or gas, they will have to pay for it with Gold or Roubles
Depreciated Gold, or Inflated Roubles
It's all about what the people want...
No, according to the article that is the price they will pay - in roubles.
Good news. That’s about where I set my next buy price.
Russia says gold is worth 5,000 rubles/oz. They don't want your dollars.
Buying low and selling high is the smart thing to do. Dumb commies. lol
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I wonder how much gold they will get at that price. Certainly none of mine. That is approximately $500/oz. below market. Cheers, RickO
Knew it would be discounted.
Is this counterparty risk?> @derryb said:
And nobody wants their rubles. Dumb rest of the world.
They should be buying foodstuffs and medicines for their people, not gold. Yup, dumb commies.
Knowledge is the enemy of fear
Looks like europe is gonna have to dump petrodollars and replace them with rubles.
Appears most of europe is gonna want their rubles. Smart commies.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Very wishful thinking on the part of your guy.
Your guy has suddenly hecome the biggest proponent of alternative energy. Oh, the irony. Lol
Knowledge is the enemy of fear
Unlike you, I don't have a guy. I have a wife.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
So, Let's just say you were going to be able to buy Russian gold. What is the form, shape of gold they are selling? 1oz coin or bar. 10oz, 100oz, 1gram, 1 kilo? What size are they keeping in there vaults? .999? lead bar gold plated? 98% 90%
1950 called senator Mccarthy , They aren't commies .
They're competion for them "We Buy Gold " places peppered across America. Pawn shops pay a little higher, in surrounding towns. They could beat their weapons into plowshares and trade wheat for gold. Silly operators.
It's not the war nor the pandemic that is destroying economies, it is and always has been debt.
"But gold does speak in value, and it’s getting the last laugh on the currencies now weakening in our wallets and the debt-drunk leaders now squawking in our headlines."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
3 days later, the headline should be changed to $1863 due to gains in the rouble/usd exchange rate. Less than a 4% discount to spot
There's plenty of fiat around so that no seller has to accept a discount in any form.
As a matter of my observation, in the last 6 months, the supply of nice generic pre 33 graded gold has drastically dwindled. And you better be quick when it's offered publicly.
Nobody has to buy rubles..........................but they will................
I knew it would happen.
And thats exactly what she told me.
Knowledge is the enemy of fear
rouble gaining strength. appears someone knows what they are doing. lol
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
RUSSIA RUSSIA RUSSIA
but please , someone tweet me when its time to duck and cover
If it can go up another 15% it will be back to where it was 6 months ago. Lol
Knowledge is the enemy of fear
Unlike when the US invades a country (yes, the US also invades countries) and the dollar goes down:
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
and yet the countries slapping it with unprecedented sanctions are paying more for everything. Boy we showed them, didn't we!
Ruble is down 66% vs dollar in last 10 years and 90% over last 20.
Keep waving those pom poms fellow travellers.
Knowledge is the enemy of fear
and yet Russia is a net exporter - and now buyers of their gas and oil are going to pay in roubles. Russia has been sanctioned since the 1950's and they can handle anything this addled dotard can come up with...
While American consumers get thrown under the bus by their leaders. waving the flag is not gonna make your gas or your food any cheaper.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Yes its super patriotic to pay more for stuff. everyone needs to be more patriotic , if it will help some random country in Asia or Europe I'll pay 10 dollars a gallon . Surely they would do the same for me?
Congrats, Vlad! I think?
Ruble is down 66% vs dollar in last 10 years and 90% over last 20.
Looks like the Euro is going to get crushed.
Keep waving those pom poms fellow travellers.
Here we go again. More derision.
I knew it would happen.
Russia is saying gold is money ("your gold for our oil"). Russia, thanks to sanctions, is resetting the economic landscape and is leading the way (other countries will follow as they lose trust in foreign currencies) with "you want our goods? We want your commodities in exchange." The reset will destroy international use/demand for fiat currencies, particularly between East and West trading partners. Commodities will see rapid inflation as they become the new international money. Commodities that are vital to your survival will cost you much, much more. Fresh food, especially vegetables will become a delicacy. Economic war creates its own casualties.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
When it comes to global finance, regardless of how much land mass they control or how many nuclear weapons they possess, it seems unlikely that a country with a GDP half that of California is going to reset anything.
Yet a small player on the big stage suddenly weakens the petrodollar's dominance. Expect sanctions to create a paradigm shift in regards to fiat currencies.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
.
The dollar hasnt been weakend at all, but please quantify your comment.
To your point about vital commodities.....the USA has enough energy, water, crop land, timber land, fisheries, ect to provide for everyone in its borders. We dont need anything from anyone....so you actually think the dollar would be destroyed?
We have 30 million beef cattle, 10 million dairy cows, 500 million chickens, 200 million turkeys.
We have 900 million acres of farmland (more than the entire landmass of all but 8 countries) and 500 million acres (would be 12th largest country) of timberland. Twenty percent of the worlds fresh water. We have the best overall education system and one of the largest workforces on the planet.
We also have massive amounts of rare earth minerals...4th largest deposit of lithium and #2 in overall production. We could easily be #1 if we abandoned environmental restrictions.
Knowledge is the enemy of fear
Yet international supply chain issues drive up our prices and create shortages. Again, flag waiving will not put food on your table or gas in your truck.
Dollar is being destroyed, have you priced a new made in China flag lately?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
a> @cohodk said:
and 80 million plus useless eater types that are glued to their phone 19 hours a day who don't pay any taxes or produce anything
God bless America. Semper Fi!
The whole worlds off its rocker, buy Gold™.
shrinkflation:
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Lol....we dont need anything, but we made a decision to source cheap labor and allow other countries to destroy their own environment.
If the SHTF as you so suggest, all production would shift back to the USA.
I think everyone knows the flag I fly, as they do you
Why you hate on America and only see bad while promoting the likes of dictators and autocracies is beyond me.
Knowledge is the enemy of fear
LOL. Why don't you give up everything you own that was either imported or dependent on something being imported. For those like you it appears the only way one will understand just how dependent they are on imported goods.
According to you one must "toe the line" to be patriotic. Pure BS. Like I've told you before, I have defended this country under enemy fire - only until you have done so will I consider you qualified to discuss patriotism at all. Arm chair patriots have not earned the right to tell others how to wave the flag.
Speaking out on the mismanagement of one's currency on which his livelihood depends does not make one un-American. Our founding fathers who put everything on the line by speaking out would likely call you a coward. You are just another "Wokee" who wishes to ban/persecute others who do not agree with the thoughts someone else has formed for you. Learn to tolerate and even respect differing opinion without resorting to name calling. It shows your immaturity.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Russia sanctions threaten to erode dominance of US dollar, says IMF
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
..............because they need gas and oil.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
When Russia first set the gold buy price in rubles, the conversion rate equated to the $1600 per ounce. That was also the time where the ruble was at a low due to sanctions.
Meanwhile, the ruble exchange rate has increased/became stronger.. I saw an article stating the gold buy price in rubles is now GREATER than the spot price when converted. If the ruble keeps increasing in value, the difference will become even greater.
Looks like it's time to sell gold to Russia, get the rubles, convert to dollars, buy gold back in US markets and make a profit doing so? Not for me... but I image some are looking at that....
Interesting times.
What is being overlooked and is most important is that "Russia has linked the ruble to gold and, since gold trades in US dollars, set a floor price for the ruble in terms of the US dollar."
Ronan Manly:
"if the Western paper gold markets of LBMA / COMEX try to drive the US dollar gold price lower, they will have to try to weaken the ruble as well or else the paper manipulations will be out in the open. Additionally, with the new gold to ruble linkage, if the ruble continues to strengthen (for example due to demand created by obligatory energy payments in rubles), this will also be reflected in a stronger gold price."
"The Bank of Russia’s move to link the ruble to gold and link commodity payments to the ruble is a paradigm shift that the western media has not really yet been grasped. As the dominos fall, these events could reverberate in different ways. Increased demand for physical gold. Blowups (Blitz, there's that word again. LOL) in the paper gold markets. A revalued gold price. A shift away from the US dollar. Increased bilateral trade in commodities among non-Western counties in currencies other than the US dollar."
Did Russia just hijack the corrupt gold spot market? Is all of this recent East vs. West turmoil actually about countering the World Economic Forum's globalization "reset?"
If Ronan Manly is correct, I suspect we are about to witness some serious re-arrangement of international finance and one hell of an effect on the physical gold market. Got gold (or silver)?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
This will be a fun thread to revisit in several years. Lots of "if" and other hypothetical scenarios being presented as "you just watch and see, its gonna happen". These are always fun.
Fact is the ruble and Russia have been on an accelerated decline since 1945. This will not change.
And please derryb, look in the mirror about calling others names or being immature.
Knowledge is the enemy of fear
The big problem as I see it is that linking your currency/commodity trade to gold is that is fine but there is not enough gold to handle world trade volume. Now if gold goes to a million an ounce that might not be true.
But as long as oil is $100/barrel then gold will be $1,200 to take out of the ground.
The world will scramble in the next couple of years to reach new levels of critical resources. Countries and companies that are currently getting poked in the eye will have long memories of who is doing the poking.
Yet, western countries who desperately need russian energy are already willing to turn a blind eye on russia's aggression.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
china is still angry over the opium wars when you are down you don't forget about past offenses payback is a bitch
we had troops in China we had troops in Russia too come to think of it.
Have we ever attacked the Ukraine?
well Britain did and Germany did and Turkey? probably a half dozen more .
Not with our military, but our politicians and grifters have had a go at them in the last decade. Likely the root cause of the problems there now. We should send them a thank you note for the rise in gold.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Result of backing a currency with gold?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey