Putin is bringing back the GOLD STANDARD. America and Europe are doomed.

[Text Drivers are Killers]

This is good because fiat currencies are bad. Fiat is great for the elite but the other 99% suffer.

https://kingworldnews.com/putin-is-...-gold-that-will-rock-global-currency-markets/

jan 28 2023 Russian President, Vladimir Putin, is close to finalizing Asian trade settlement in gold. This move will cause enormous chaos for the West and will also rock world markets as gold is brought back into the monetary system by the great chess master, Putin.

Putin’s Move To Bring Gold Back Into The Monetary System
Alasdair Macleod: “The physical market is very, very tight. And the reason it’s tight is because of the developments between Russia and all its partners in the Shanghai Cooperation Organization. They are going to have a Gold Standard. What has been discussed between the members of the Shanghai Cooperation Organization and particularly Sergey Glazyev, who has been heading the committee on this new currency, is they want to have something better than the dollar. That has led to this evolution toward trade arrangements being settled, on balance, with gold. And that’s obviously what (Russian) President Putin wants. Now that is destructive for Western fiat currencies.

 

[BidenPresident]

Is this asshole a Russian troll?

 

[archives]

He has too, well, not entirely, but the ruble is devalued on its own, by backing it with gold he anticipates raising its value. The problem here is what does he do if suddenly everyone wants to cash in their rubles, which is why these are always temporary measures and often not productive. China has been doing it for years try to offset the American dollar

 

[Text Drivers are Killers]

He has too, well, not entirely, but the ruble is devalued on its own, by backing it with gold he anticipates raising its value. The problem here is what does he do if suddenly everyone wants to cash in their rubles, which is why these are always temporary measures and often not productive. China has been doing it for years try to offset the American dollar

Hey einstein. Putin is worth like $100 billion. I think he's a little smarter than you.

 

[archives]

Hey einstein. Putin is worth like $100 billion. I think he's a little smarter than you.

$100 billion wouldn’t be nearly enough, pretty obvious you have zero understanding of economics, and as I said, anytime any country did the same it was for a short time only, no one has to be an Einstein, facts prove the case on their own

 

[Walt]

Putin is bringing back the GOLD STANDARD. America and Europe are doomed..

Putin has about enough gold to support a week of imports. There is no way to get the Chinese, or anyone else to pay him in gold. He is so desperate that he needs to credit that can only be spent on imports from China, and even then at an extreme(20% to 50%) discount. Let's say he goes on a full gold standard, and loses all his gold reserves in a week, what good does that do him? He just looks weaker.

This is good because fiat currencies are bad. Fiat is great for the elite but the other 99% suffer.

There is not enough gold in the world to backup the economy. Worse yet, gold often suffers from uncontrollable deflation. It can even have severe inflation, if there is higher velocity.

Gold is good at concentrating wealth, so is good for the upper class. We can see that with the Diocletian move towards gold. As the Western Roman Empire moved more towards gold, it moved away from citizens, and towards peasants. The dark ages was an anti-fiat currency age.

 

[Walt]

Hey einstein. Putin is worth like $100 billion. I think he's a little smarter than you.

You are proud that Putin stole $100 billion from Russia. He has no other major source of income other than stealing.

That it is stolen means he cannot transfer it, or use it to leverage other investments. When he dies, it will either be returned to the Russian government, or more likely stolen by others. This is not real intergenerational wealth.