Galt's Gulch

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  • Posted by Dobrien 9 months, 2 weeks ago
    Sorry sir but you a bit behind ,I posted about this in March of 2022

    What Russia just did is the financial equivalent of detonating a nuclear bomb.
    Posted by Dobrien 1 year, 10 months ago to Economics
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    It's Official! Russia Central bank Announces Ruble Bound to Gold! 5000 Rubles per Gram
    WORLD
    HAL TURNER
    27 MARCH 2022
    HITS: 90544

    (UPDATED 10:39 AM EDT SEE BOTTOM) The Central Bank of Russia has officially announced that, as of March 28, 2022, the Russian Ruble currency is BOUND to Gold. The rate is 5,000 Rubles per gram of gold bullion.
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    • Posted by Dobrien 9 months, 2 weeks ago
      Acquirie some US constitutional currency Including Dimes Quarters and Halves (pre 1965 coins) would likely serve you better than Rubles. Silver has always out performed Gold in the second half of a precious metals bull market. Those are very easily identified junk coins and yet not counterfeited, will be easy to barter with. Imo.
      Silvers supply demand situation is very compelling. When Trump returns to the WH ,I predict the shit will already have hit the fan with our debt and fiat currency. This year will be one for the history books. People will demand a change to the fiat system and Precious metals will play a role. Imagine the increased demand if that occurs.
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      • Posted by Dobrien 9 months, 2 weeks ago
        (New York – November 15, 2023) – Silver Industrial demand is expected to grow 8% to a record 632 million ounces (Moz) this year. Key drivers behind this performance include investment in photovoltaics, power grid and 5G networks, growth in consumer electronics, and rising vehicle output.

        2023 is the third year in a row where demand outstripped the supply ( mining@recycling). The deficit in 2923 is 141 million ounces. Mining and recycling production has been virtually flat for several years. Imagine if US villagers decided to buy some silver to protect their shrinking wealth from inflation. 15,000,000 people buy say just 100 oz that’s 1 1/2 billion ozs.
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        • Posted by mccannon01 9 months, 2 weeks ago
          Thank you for all of the above as I do recall getting the information you (and perhaps a couple others) put in the Gulch before anywhere else. I just saw another article in the news and thought I'd ask the question. I agree hard metal is looking better than paper currency no matter how it's backed. I wasn't really looking for a "survive the SHTF" investment, but more of a "can I make some bucks" on a trade here? I think I'm not going near that one. Being the novice at this that I am I knew Russia was going to go gold standard, but didn't realize they already did it, so I guess that horse has left the barn, LOL.
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          • Posted by Dobrien 9 months, 2 weeks ago
            I think silver is way more than a shtf holding. Consider this …..as an asset class precious metals historically have been about 3% of the large institutional holdings .Today it is about .5%. A sixfold increase in PM holdings to get to the average . That will drive the silver and Gold prices to record highs. I have and am investing in the only pure play silver miner . It is a Canadian co that mines in Morocco. They have spent the last year expanding their plant capacity 4 fold . This year will see a big jump in production 2 million ozs to 8 million.
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          • Posted by bubah1mau 9 months, 2 weeks ago
            The above comments all have some relevance and value, but, targeting your question more specifically, I would suggest searching for currency-related ETFs.

            If there are ETFs for Bitcoin (and there are), then, very likely, there are ETFs for major currencies, although the Ruble may not be considered major, and/or its promotion/formation for trade in the US may be rejected by the SEC essentially for political considerations. .
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            • Posted by mccannon01 9 months, 2 weeks ago
              Thank you! I have some old accounts from years ago still laying around doing nothing. A few k$ and a few k$ there and thought I'd play around like I used to years ago when I get up to speed again in the various markets. Nice that the log on and passwords all still work, LOL!
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