RE:RE:RE:GoldVery interesting discussion. Besides the Russian Ukrainian war, there is also another
power struggle going on. China and Russia plus a few other rogue nations would like to
circumvent the trading status of the US$ as a reserve currency for obvious reasons.
Thus far they have not been able to do it as their trading partners are still western nations and will only use US$. Until they can establish a powerful enough trading bloc
to serve their own agendas and be able to break away from needing western nations
for trading purposes, they haven't got the clout to flaunt the US$ no matter how much
they hate using it. They can trade with each other using each others currencies or gold
if they wish but not when they trade with the west.
There have been many gurus and pontificators over the years calling for the demise of
the US$ and they have always been wrong. But as we all realize, this time through
a combination of world shattering events, the US$ is teetering on the edge of collapse.
Whats holding it up is the lack of any realistic alternative except for gold. Thats why both
China and Russia hoard gold and don't play fractional accounting games like the west
does with their gold. The west does not want to go on any kind of gold standard simply
because they either don't have sufficient reserves to do it or that they couldn't continue
to manipulate their reserve holdings through their fractional schemes once everyone is
on a gold standard. I don't know how its all going to end but holding a % in gold in one form or another seems like a pretty good idea to me.