Saudi Arabia is the last thing holding the dollar together.
They are getting ready to make the change.... Anyways what's up with having to level up to do a search here??
keeps bad actors at bay. just level up to use site features like search.
Saudi Arabia is the last thing holding the dollar together.
They are getting ready to make the change.... Anyways what's up with having to level up to do a search here??
keeps bad actors at bay. just level up to use site features like search.
Ohhhhhh shit!
Aha! I've been following a rumor that Russia was going to turn the Ruble into a gold-backed currency for quite a while. The last time I looked into it they would've still had a long way to go despite having a fairly sizeable gold reserve. But creating a new currency entirely would close that gap.
How well it would work is still a good question. Even if you trust Putin and his government to not raid the principle, they're only human and won't live forever, and the temptation will only grow. Further, specie-backed currencies are subject to attack via arbitrage and can wind up with contracting monetary bases making them less functional.
So like russia contracted a group of oligarchs to build ships for their navy. Every one of them skimmed funds and built their own super yachts along side the navy ships...
It kind of makes me wonder if I can get a Russian bank account and keep cash in that currency until I'm about ready to use it.
I'd buy, gotta figure out how.
It seems like gold is the thing to buy.
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