The Phaserl


Russian Gold Reserves Multiples Of What’s Been Announced

from KingWorldNews:

This is potentially very gold bullish in the short term because it escalates tensions, which has almost always been positive for precious metals. But more importantly, I think medium-to-longer-term it accelerates the day when gold goes ‘bid-only.’ It accelerates this process by which U.S. hegemony over the world, which is predicated on the U.S. dollar as the world’s reserve currency, is lost. All you have to point to are the measures that are quickening now, by which Russia and China accelerate bilateral agreements. This would also mean that they would be requesting payment from their European customers in euros rather than dollars.

So Russia is retaliating and it isn’t getting the press that these largely meaningless sanctions are receiving, but in my judgment this is far more important for investors. The loss of reserve currency status has tremendous repercussions, not the least of which is a reset in the price of gold and silver.

William Kaye continues @

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