RE:RE:Gold Price/Interesting VideoYes I realized his error in the video as well about the Troy ounce measure. it only makes a small difference though in the calculation. That aside though, not to rule anything out in this crazy financial world. The Russians could very easily demand payment in Gold. Why wouldn't they. The BRICS nations are very leary I think, of holding US dollars.
Anything can happen. I recall years ago a well connected financial analyst and Market Trader, once commented how as a trader he used to handle some finances for Japan in the 80's. In order for Japan to reduce its trade surplus with the US and show an even balance of trade settlement. They would buy Gold at the LBMA registered to the US. Japan did not want to hold too many US dollars. Since they were the ones back then doing most of the maufacturing they couldn't buy suuficient enough US made goods to settle the balance of trade. So Gold was the answer.
I am pretty sure this is what China has been doing for the last couple of decades as well . No need to hold US dollars and can't buy enough US manufactured goods since they have been doing pretty much all of the manufacturing.
It woudn't surprise me at all if it isn't China who has been medling in the Paper Gold markets enough to buy the Gold on the cheap to fill their coffers. Once they see the whites of the US eyes then China and Russia will let it fly and Gold will be repriced to a much higher level. Giving them a sizeable balance sheet to operate their economies. All this is IMHO.
Just thinking out of the box and anything is possible. Hey most of the analysts and commentators seem to be wrong on a lot of calls so far. Nobody seems to be batting a thousand. So I may be right or I may be wrong. Who cares?