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208

(post is archived)

[–] • 3 pts

Saudi Arabia is the last thing holding the dollar together.

[–] • 1 pt

They are getting ready to make the change.... Anyways what's up with having to level up to do a search here??

[–] • 0 pt

keeps bad actors at bay. just level up to use site features like search.

[–] • 1 pt

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.

[–] • 1 pt

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...

[–] • 0 pt

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.

[–] • 0 pt

I'd buy, gotta figure out how.

[–] • 0 pt

It seems like gold is the thing to buy.