![Ellabee (@Lizzie59293400): "💥BREAKING💥 🚨Russia returns to Gold standard🚨 The government will abolish the VAT (tax) on bullion. [784x763 - 307KB]](https://pic8.co/sh/fwFzxK.png){kind=link}
Now I understand why Putin is hated.
Now I understand why Putin is hated.
Seems so I am seeing.
Seems so I am seeing.
- https://twitit.gq/Lizzie59293400/status/1499338955048820736
- https://twiiit.com/Lizzie59293400/status/1499338955048820736
- https://twitter.com/Lizzie59293400/status/1499338955048820736
Now we know where all the gold went. For years there have been rumors and whispers that the vaults are empty.
Now we know where all the gold that is supposed to be in Fort Nox and in the NY Federal Reserve bank actually is... Putin does not go on the gold standard without a big pile of gold in his back pocket. I bet Obama flew it right to Moscow in C-10s
Now we know where all the gold went. For years there have been rumors and whispers that the vaults are empty.
Now we know where all the gold that is supposed to be in Fort Nox and in the NY Federal Reserve bank actually is... Putin does not go on the gold standard without a big pile of gold in his back pocket. I bet Obama flew it right to Moscow in C-10s
Yes Russia ain't dumb.
Yes Russia ain't dumb.
This is just removing a tax, how does it mean Russia is implementing a gold standard?
That would be pretty 'bombshell' if so.
This is just removing a tax, how does it mean Russia is implementing a gold standard?
That would be pretty 'bombshell' if so.
I think that the tax could have been a large hurdle for using it in exchange, and this will remove it. The comment in op's picture might be correct too, this could change the "non-volatile" currency in russia from usd -> gold (i don't know how true the common people relying on usd for wealth storage is).
In the us we are free to trade in gold, it just takes willing participants. If there were a 20% tax for converting then you couldn't really do that. There is a similar issue with "exchange fees" in any financial instrument in the US (for us plebs). This adds some friction, but not 20%...
I think that the tax could have been a large hurdle for using it in exchange, and this will remove it. The comment in op's picture might be correct too, this could change the "non-volatile" currency in russia from usd -> gold (i don't know how true the common people relying on usd for wealth storage is).
In the us we are free to trade in gold, it just takes willing participants. If there were a 20% tax for converting then you couldn't really do that. There is a similar issue with "exchange fees" in any financial instrument in the US (for us plebs). This adds some friction, but not 20%...
That helps, yes, thanks very much. Yes that kind of tax must be extremely prohibitive.
So, what's gonna happen, huh?
When will gold break out.
Do I have time to buy some more Gold Eagles?
What do I do?
HEEEEELLLP.
Okay, I'm fine, I'm cool. Sigh.
That helps, yes, thanks very much. Yes that kind of tax must be extremely prohibitive.
So, what's gonna happen, huh?
When will gold break out.
Do I have time to buy some more Gold Eagles?
What do I do?
HEEEEELLLP.
Okay, I'm fine, I'm cool. Sigh.
There is never a bad time to buy gold. Ever. Worst case scenario is you buy "too late" to see huge dividends and you'd "only" have the value at the time of purchase/market value. So....no downfall.
Gold will never be worthless, it's incredibly malleably and is rust proof. It's also gorgeous and there's something within the human psyche that admires its intrinsic beauty.
Silver is the worlds best conductor and also will always carry value because of it.
There is never a bad time to buy gold.
Ever.
Worst case scenario is you buy "too late" to see huge dividends and you'd "only" have the value
at the time of purchase/market value. So....no downfall.
Gold will never be worthless, it's incredibly malleably and is rust proof. It's also gorgeous and there's
something within the human psyche that admires its intrinsic beauty.
Silver is the worlds best conductor and also will always carry value because of it.
If you want my opinion (i am not a financial advisor), it is to watch the difference between physical and the GLD etf. when you start to see the gap grow too much it means that you are paying more of a premium for taking delivery of physical. the only reason this gap wouldn't go back down at a later date would be the collapse of the usd or the financial markets. That isn't a 0% likelyhood, so you have to make the decisions, but in times of strife it is usually better to buy the etf, and then when things calm down you can convert to physical.
Also, see if you can find a local coin dealer. news like this means that some people will be reminded of what they have and cash out.
If you want my opinion (i am not a financial advisor), it is to watch the difference between physical and the GLD etf. when you start to see the gap grow too much it means that you are paying more of a premium for taking delivery of physical. the only reason this gap wouldn't go back down at a later date would be the collapse of the usd or the financial markets. That isn't a 0% likelyhood, so you have to make the decisions, but in times of strife it is usually better to buy the etf, and then when things calm down you can convert to physical.
Also, see if you can find a local coin dealer. news like this means that some people will be reminded of what they have and cash out.
Gold though would have to be linked to the currency.
Gold though would have to be linked to the currency.
So, it looks like Russia isn't switching to a gold-backed currency, which is what people usually mean when they say "gold standard". They're instead no longer treating gold as a pure commodity, allowing it to be used as its own currency. At least for the moment, it will still have a floating value compared to the ruble.
I did a quick analysis of whether Russia could switch to a real gold standard something like 3-4 years ago and concluded they were only halfway there. I don't think they've made a huge amount of headway since then, maybe up to 60% or so, it'd require a heck of a lot of gold to do it. I could be wrong though.
I do predict, however, that if any major nation does switch to a gold-backed currency, the price of gold in other currencies will roughly double.
So, it looks like Russia isn't switching to a gold-backed currency, which is what people usually mean when they say "gold standard". They're instead no longer treating gold as a pure commodity, allowing it to be used as its own currency. At least for the moment, it will still have a floating value compared to the ruble.
I did a quick analysis of whether Russia could switch to a real gold standard something like 3-4 years ago and concluded they were only halfway there. I don't think they've made a huge amount of headway since then, maybe up to 60% or so, it'd require a heck of a lot of gold to do it. I could be wrong though.
I do predict, however, that if any major nation does switch to a gold-backed currency, the price of gold in other currencies will roughly double.
There's so much disinfo and misinfo that we plebs don't really know, absolutely for sure positively, who has gold and how much.
There's so much disinfo and misinfo that we plebs don't really know, absolutely for sure positively, who has gold and how much.
Russia publishes (or published) their gold stock statistics. They could be lying about it, I'm sure... They could also be lying about their money stock statistics. IDK.
Edit: Looks like they stopped adding to their reserves in early 2020. https://tradingeconomics.com/russia/gold-reserves
Russia publishes (or published) their gold stock statistics. They could be lying about it, I'm sure... They could also be lying about their money stock statistics. IDK.
Edit: Looks like they stopped adding to their reserves in early 2020. https://tradingeconomics.com/russia/gold-reserves
Yes. I appreciate your insight (your comment), I just wanted to say what we already know (about confusion).
If anybody has gold it's Russia (and the jew cartels). They've never relinquished their mantra that "only gold is money" and the golden rule "he that has the gold makes the rules."
Very scary times right now.
Yes. I appreciate your insight (your comment), I just wanted to say what we already know (about confusion).
If anybody has gold it's Russia (and the jew cartels). They've never relinquished their mantra that "only gold is money" and the golden rule "he that has the gold makes the rules."
Very scary times right now.
I bet Russia has tons of unmined gold reserves. What I wouldn't give to have $4-5million for equipment and free reign to pick a mining plot.
Problem is though that it's incredibly difficult if not impossible to mine in permafrost ground conditions.
I bet Russia has tons of unmined gold reserves. What I wouldn't give to have $4-5million for equipment and free reign to pick a mining plot.
Problem is though that it's incredibly difficult if not impossible to mine in permafrost ground conditions.
interesting:
"Notably, in 2020, Russian exports of gold, instead of being eastbound in line Putin’s “Look East” policy, have been overwhelmingly shipped westwards, via intermediary transshipment countries, and into the ultimate ownership of the US Federal Reserve"
.
"in 2020 Russia's revenues from gold exports for the first time exceeded the income from the sales of gas"
https://www.aa.com.tr/en/europe/russia-income-from-gold-export-exceed-gas-sales-profit/1910322
interesting:
*"Notably, in 2020, Russian exports of gold, instead of being eastbound in line Putin’s “Look East” policy, have been overwhelmingly shipped westwards, via intermediary transshipment countries, and into the ultimate ownership of the US Federal Reserve"*
https://www.russia-briefing.com/news/why-are-russia-s-surging-gold-exports-being-stockpiled-in-the-united-states-and-not-china.html/
.
*"in 2020 Russia's revenues from gold exports for the first time exceeded the income from the sales of gas"*
https://www.aa.com.tr/en/europe/russia-income-from-gold-export-exceed-gas-sales-profit/1910322
Habbening!?
Habbening!?
will be interesting what elvira does
will be interesting what elvira does
Russia needs some freedom liberation.
Russia needs some freedom liberation.
(post is archived)