RE:Gold At $3600USDHi Richard , I am going to quote you quoting Kitco and fingers crossed Stockhouse doesn`t unleash the RCMP by suppertime . I`m sure they would go to the wrong house anyway ,
The article you posted is a good read and very credible to me . I think trading gold for oil would quickly have Russia swimming in money from $3600 gold .They are the world`s 2nd biggest gold producer and maybe the biggest in oil . Nobody knows for sure . China and Russia have been trading in gold for a while . You can`t beat China . And I honestly believe the article when it says the US brought in the price cap at $60 to drive world prices down which it certainly has done . Nothing to do with freezing Ukranians . The reason he gives is that they have to rebuild US reserves . Makes sense to me .
I am no fan of Russia but with China they could well pull this off . But nobody in the west is interested. $3600 gold as a reserve . Imagine the damage to the US if their money printing didn`t work . I think this scenario has a chance of working .
Richard , if the Mounties come to you first , act like you know nothing . It always works .