Russia Selling Crude For Gold

[JohnyMac]

A friend who like me watches the economy for entertainment and for profit, sent me an email this morning letting me know that Russia is selling 50-barrels of crude for one ounce of gold. That equates out to about $40- a barrel. China is snatching it up as fast as they can pump it.

First effect is crude is lower this morning and gold has dropped back under the $2,000 ceiling. A few thing to understand are,

> Russia is not using the petrodollar.
> Remember when China was buying up gold in large amounts over the past 18-months.
> Will Russia demand only gold from all countries buying their crude?
> Is this the beginning of the end of the petrodollar?
> If the petrodollar goes away, does the U.S. Dollar become just a Franc, Pound Sterling, Mark etcetera known as
   secondary world currencies? If so, how does this affect inflation? Is this part of The Great Reset agenda?
> Will other countries that we are holding their gold, want their gold back?

Now we have PPOTUS (Poopy Pants of the United States) signing a EO on crypto. Maybe moving to the coin of the realm being cyber not green backs.

Just food for thought.

[FeedingFreedom]

Saddam Hussein tried it, we invaded. Qaddafi tried to create a gold-backed Dinar for all of Africa, we destroyed the country entirely and spawned countless terrorist attacks, as well as brought open slavery back to Africa.

Trading oil for gold seems to be a line the NWO doesn't want crossed, and will create massive human misery to stop it. Plus after they invade, they loot the gold and the oil. 10% for the Big Guy.

If it's true, they will never let up, and slowly or quickly drag us all into a global war.

The dollar is dying, with a pillow over its head like Justice Scalia. I would imagine some sort of digital currency will be tried to replace it. Interesting times ahead, I wouldn't want to be holding dollars when the music stops. Pensions, trusts, savings will all be wiped out in the click of a mouse.

[JohnyMac]

We will be involved in a WW III sooner than later. The Davos group wants it. Study the past two WW's. Wilson was a progressive as was FDR. Coincidence? Naaaaw.

[Nemo]

Gold pricing near record levels.  Gold Eagles and Krugerrand are good things.

Chart would not copy over.  Click link for a review.

Nemo


https://www.axios.com/gold-record-high-value-inflation-4d03c36e-3a2a-4e1e-8adc-54687ed62b0d.html

Gold price

Chart: Axios Visuals

With inflation surging, gold ? the traditional hedge on rising prices ? has flirted with new record highs.

The big picture: The yellow metal is traditionally viewed as a safe haven during times of crisis, especially by investors in emerging markets.

    Russia is also one of the world's largest gold producers, and recent sanctions on the country have made buyers jittery about supply ? leading some to stock up.

Worth noting: The crippling sanctions highlight the risks central banks face in holding their reserves in dollars and other foreign currencies.

What they're saying: "We expect Central Bank gold demand to reach its historical high level as [central banks] globally have both strong diversification and geopolitical reasons to shift reserves into gold," Goldman Sachs analysts wrote in a note this week.

[Felix]

Here's my understanding, flawed as it might be...
Governments are/will be forced to use (even build) every tool imaginable for steering all mediums of exchange.  They have "monetized" the kind of idiocy that never has a happy ending before crashing, then a "start-over."
  "Money" in all its forms only seeks to be and serves as representation of value, not a value itself.
Be it Bitcoins or greenbacks or PMs, the owner isn't holding value unless it includes a means of preservation, transference and agreed-upon measure of worth.
Bitcoin does not fit the definition of "money" because it is ephemeral - no electrons and functioning computer net - no nothing.
Greenbacks have what superiority over Reichsmarks stacked in wheelbarrows to buy a loaf of bread?   None.
Precious metals - easily preserved, doesn't evaporate, burn or depend on electricity.   And because it is physical, can pass from hand to hand at whatever going rate is customary and agreed upon.   One little problem though... and I'm curious to hear what folks here think...
FDR called in PM coinage and "by force of law" divested Americans of this particular medium of preservation/exchange.
What makes anyone believe this same tactic won't/can't be repeated?    And if, even under "melt down" financial catastrophe, PMs are no longer "legal tender" are we talking black market?   Entire segments of financial activity risking fines, confiscation, imprisonment if attempts at using PMs in exchange are made?

[FeedingFreedom]

What makes anyone believe this same tactic won't/can't be repeated?    And if, even under "melt down" financial catastrophe, PMs are no longer "legal tender" are we talking black market?   Entire segments of financial activity risking fines, confiscation, imprisonment if attempts at using PMs in exchange are made?

It could be done again, I'd expect it if the dollar totally collapses. PM's have intrinsic value, they'll never be worth zero. And yes, if necessary, are a means of exchange in a black market environment. That's why junk silver is nice, easy to conduct normal trades without painting a huge target on your back. I know several people who kept their gold despite "the law". Black markets are necessary, and as long as you're not the big fish, your only concern will be local .gov or law enforcement looking to get a slice. Totalitarian governments always trot out a few "Black Marketeers" to scare the small fish into compliance, and it never works. I'm prepared to set up an exchange for goods and services outside of .gov, whether it's a traditional covert black market, or an open and public area/method for people to safely conduct business. My parents bartered a lot, so I got to see it put into practice first-hand.

[JohnyMac]

We will move towards a digital currency. It is a Fascists' wet dream. Control is their Achilles heel of progressives.

[Felix]

I was set to officially launch my own practice of barter this past Monday by exchanging a pint of 110 proof white whisky (corn likker) for a haircut from a professional barber of the old school.   But he was sidetracked by a surprise need for surgery.
Only have one once of gold in possession.    So my store of Bic lighters, beans and distilling skills may have to carry brunt of commerce in a financial melt down or extended loss of electricity.
Baby steps lead to walking, walking leads to...

[JohnyMac]

Felix.