Dollar will devalue in the next year do to Gold

[Dan Stubbs]

With speculation of Russia and China working on a gold-backed currency, a shift in monetary power from the West to the East seems to be their ambitions. The situation between East and West is exacerbated by recent tensions between Russia and the UK, since the alleged Kremlin poisoning of former spy Sergei Skripal and his daughter. British Prime Minister Theresa May has ousted 23 Russian diplomats from Great Britain. Geopolitical tension is once again, high.It seems Russian may have tossed aside Das Kapital as its economic guidebook. Not only is creating a gold-backed currency appearing more likely month over month, but Russia has also brought inflation way down over the past decade. More importantly, Russia continues to lower their national debt, while the US has been increasing its debt to a record $21 trillion.
Russia’s financial strategy is making the country less vulnerable to volatile geopolitics. Not only is it a significant player in gold, but it is also the world’s third-largest gold producer, with the Central Bank of Russia buying up its supplies. During the past decade, Russian has mined more than 2,000 tons of gold, with tonnage expected to increase by 400 tons annually by 2030.
Russia and China understand the value of real, physical gold, a lesson that the US has forgotten while reveling in worthless paper currency.
If Russia and China establish a 100 percent gold-backed currency, it inevitably changes the game in the West. The dollar will continue to devalue against gold at a rapid rate.
Ultimately, the battle will not be Eastern vs. Western dominance. The real battle long term will be between the US dollar (fiat) and gold.

 

[Stratford57]

While America is so busy with witch hunting Russia has been quietly busy with consolidating her currency. Good for Russia.

 

[P@triot]

Psst....that would be “due to gold”.

 

[Toddsterpatriot]

With speculation of Russia and China working on a gold-backed currency, a shift in monetary power from the West to the East seems to be their ambitions. The situation between East and West is exacerbated by recent tensions between Russia and the UK, since the alleged Kremlin poisoning of former spy Sergei Skripal and his daughter. British Prime Minister Theresa May has ousted 23 Russian diplomats from Great Britain. Geopolitical tension is once again, high.It seems Russian may have tossed aside Das Kapital as its economic guidebook. Not only is creating a gold-backed currency appearing more likely month over month, but Russia has also brought inflation way down over the past decade. More importantly, Russia continues to lower their national debt, while the US has been increasing its debt to a record $21 trillion.
Russia’s financial strategy is making the country less vulnerable to volatile geopolitics. Not only is it a significant player in gold, but it is also the world’s third-largest gold producer, with the Central Bank of Russia buying up its supplies. During the past decade, Russian has mined more than 2,000 tons of gold, with tonnage expected to increase by 400 tons annually by 2030.
Russia and China understand the value of real, physical gold, a lesson that the US has forgotten while reveling in worthless paper currency.
If Russia and China establish a 100 percent gold-backed currency, it inevitably changes the game in the West. The dollar will continue to devalue against gold at a rapid rate.
Ultimately, the battle will not be Eastern vs. Western dominance. The real battle long term will be between the US dollar (fiat) and gold.

If Russia and China establish a 100 percent gold-backed currency, it inevitably changes the game in the West. The dollar will continue to devalue against gold at a rapid rate.

Nah.

 

[william the wie]

That was the same reasoning used by OPEC in 1974, where is the $100/gal gas that was feared? the L5 calculations from around the same time are still around on the web. high temperature superconductors are the only thing needed to set off a gold rush greater than any ever seen in history.

 

[Stratford57]

Also :

Sergey Lavrov: Sanctions are illegal and undermine every principle of global trade and the principles upheld by UN resolutions, according to which unilateral measures of economic coercion are illegitimate.

I’m confident that such a gross abuse of the role of the US dollar as a world reserve currency will undermine that role. To be on the safe side, more and more countries, even the ones that are not affected by US sanctions, will gradually stop using the dollar and rely on more dependable partners with whom they can agree on using their currency.

Foreign Minister Sergey Lavrov’s remarks and answers to media questions following a meeting of Turkish ambassadors and permanent representatives at international organisations, Ankara, August 14, 2018

 

[Indeependent]

I’ve been hearing this rumor for at least 5 years.

 

[Toddsterpatriot]

Also :

Sergey Lavrov: Sanctions are illegal and undermine every principle of global trade and the principles upheld by UN resolutions, according to which unilateral measures of economic coercion are illegitimate.

I’m confident that such a gross abuse of the role of the US dollar as a world reserve currency will undermine that role. To be on the safe side, more and more countries, even the ones that are not affected by US sanctions, will gradually stop using the dollar and rely on more dependable partners with whom they can agree on using their currency.

Foreign Minister Sergey Lavrov’s remarks and answers to media questions following a meeting of Turkish ambassadors and permanent representatives at international organisations, Ankara, August 14, 2018

To be on the safe side, more and more countries, even the ones that are not affected by US sanctions, will gradually stop using the dollar and rely on more dependable partners with whom they can agree on using their currency.

Well, that leaves out China and Russia.

 

[william the wie]

The problem with the gold story is that it overlooks known but expensive to mine gold. One example that sticks out in my mind is the huge AC expense of mining operations in the Comstock load. The face is about 100F/38C and water on the face can, but does not always, cause ore explosions. It is producing gold at a profit