At some point in time the clowns in the District of Caligula will wish they’d left the Russians alone. And they’ll wonder why they should buy more gold.
Because there is a new catalyst for owning Gold.
And it’s name is PUTIN.
Cue up: Russia no longer accepting Dollars or Euros for its gas.
Instead, Putin declared he will accept Rubles and/or Gold as payment for Russian gas/oil.
Ironically (or NOT) the sanctions against Russia –designed to cause a regime change in the East – have brought about regime change in the West.
How so?
By reducing its power and influence.
The Russians haven’t officially put the ruble on a gold standard.
Instead, they copied the Nixon/Kissinger strategy – which created the petrodollar in 1973-74 – by getting the Saudis to agree to accept only dollars for oil.
But…and this is a Very Big Butt…
Today nations – deemed by Russia to be unfriendly – will be forced to buy rubles.
And that amounts to roughly 2 trillion by the EU alone. *
(* based on last year’s natural gas and oil imports from Russia)
And this has sent the exchange rate on a roller coaster ride.
Meanwhile, the Russians and Chinese are acutely aware that Western currencies – particularly the yen and euro – are likely to be undermined by recent developments.
Buy More Gold
The financial war, which has always been in the background, is emerging into plain sight and becoming a battlefield between fiat currencies.
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Keep in mind Russia has already proven how they can afford to sell oil at significant discounts to market prices.
And there are buyers willing to break the American-led embargoes.
So, Russia appears to be initiating a squeeze on gold derivatives in Western capital markets by exploiting diminishing faith in Western institutions.
And by forcing the “unfriendly countries” into buying rubles, Russia’s Central Bank has been able to reduce interest rates and remove exchange controls.
At the same time, inflation problems in the West are becoming worse.
Translation: Putin continues to play chess while the West is still fumbling with checkers.
Meanwhile, China continues to take notes for its impending takeover of Taiwan.
And the lessons learned haven’t cost them a penny.
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Bottom Line:
- Don’t be afraid to buy gold and/or gold stocks
- Take possession of your gold
- Look for suggestions of gold and silver stocks in our August issue of “…In Plain English” (HERE).
Share this with a friend…especially if they’ve been “Thinking” of buying gold.
They’ll thank YOU later.
Remember:
We’re Not Just About Finance
But we use finance to give you hope.
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The joining of many nations to the BRICS group and the gold backed yuan and soon to be ruble, as well as many south american and African nationsm is bound to further erode our currency here in the US of A, that already being, according to Jim Willie, the Bidan scheissdollar.
So, you read the “Golden Jackass” too? He’s wild and often far fetched but also makes some very interesting points at times.