Ruble - Worthless

Discussion in 'Currencies' started by Golden ChipMunk, Mar 1, 2022.

Tags:
  1. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    4,499
    Likes Received:
    1,182
    Trophy Points:
    113
    Location:
    Treasure Island
    Here, I looked it up - this was the original article on Kitco [FULL ARTICLE]:
    https://www.kitco.com/news/2022-06-...reserves-to-mobilize-during-times-of-war.html


    "Russia looks to set up special gold and gem reserves to mobilize during times of war"

    "Russia's Finance Ministry proposed to create separate special precious metals and gems reserves intended for quick mobilization in times of war. This is an amendment to an existing bill and if passed, Russian President Vladimir Putin would be able to directly oversee how the special reserves are used, according to the proposed legislation.

    The proposed amendment states that part of Russia's precious metals and gemstone reserves would be set aside to be used for the mobilization needs of the country, Russian media reported this week citing the existing bill titled "On mobilization training and mobilization in the Russian Federation."

    Russian gold and foreign exchange reserves include gold, silver, platinum, palladium, natural diamonds, emeralds, rubies, sapphires, natural pearls, unique ambers, and more."
     
    lucky luke likes this.
  2. lucky luke

    lucky luke Well-Known Member Silver Stacker

    Joined:
    May 15, 2011
    Messages:
    1,909
    Likes Received:
    178
    Trophy Points:
    63
    Location:
    Qld
    The EU (and who-ever is pulling their strings) may try to ban the import of "Russian Gold" (because we all know 24k Russian Gold looks and smells different to non-Russian gold!) but they'll have a hard time trying to ban any gemstones that may be deemed of Russian Origin. :)
     
  3. TreasureHunter

    TreasureHunter Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    4,499
    Likes Received:
    1,182
    Trophy Points:
    113
    Location:
    Treasure Island
    The G7 already banned Russian gold, as I've read.

    The west is attempting to live in a world with more scarce resources (by eliminating all those that used to come from Russia), but far bigger volumes of fiat (all those diluted dollars and euros are now piled up mostly in the western world).

    And for some reason now they're even restricting gold.
     
    spannermonkey likes this.
  4. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

    Joined:
    Jun 5, 2010
    Messages:
    15,801
    Likes Received:
    2,587
    Trophy Points:
    113
    Location:
    here there everywhere
    You haven't been able to export gold out of Russia for a few years now.
     
    mmm....shiney! likes this.
  5. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

    Joined:
    Jun 5, 2010
    Messages:
    15,801
    Likes Received:
    2,587
    Trophy Points:
    113
    Location:
    here there everywhere
    Couldn't get my hands on any at all.
    It would be a long wait with the Ruble
     
    mmm....shiney! likes this.
  6. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,584
    Likes Received:
    1,935
    Trophy Points:
    113
    HODL those Rubles, they will only go up in time. Getting ready for the next pump up.


    Russian Ruble to US Dollar Exchange Rate Chart Xe.png
     
    spannermonkey likes this.
  7. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,584
    Likes Received:
    1,935
    Trophy Points:
    113
    Good time to buy. Much better then buying NFT's, that takes "wish and a prayer" to another level. :p
     
  8. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

    Joined:
    Jun 5, 2010
    Messages:
    15,801
    Likes Received:
    2,587
    Trophy Points:
    113
    Location:
    here there everywhere
    Totally different situation.
    They are having their currency devalualed by the American war machine for sticking with Russia
     
    66rounds likes this.
  9. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,584
    Likes Received:
    1,935
    Trophy Points:
    113
    Naa you trade it crypto style. You buy without any intention to use or sell it and hope in time the world changes to utilise the thing you just purchased. :confused:
     
    66rounds likes this.
  10. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,584
    Likes Received:
    1,935
    Trophy Points:
    113
    No, I already told you i can crack chestnuts with silver bars. :cool: Plus it makes a dam good paper weight. I would love to see you hold down paper with fiat.
     
  11. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

    Joined:
    Mar 16, 2019
    Messages:
    3,551
    Likes Received:
    3,396
    Trophy Points:
    113
    Location:
    Colorado USA
    Russia is about the only place not suffering right now haha. So worthless.
     
    spannermonkey likes this.
  12. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

    Joined:
    Mar 16, 2019
    Messages:
    3,551
    Likes Received:
    3,396
    Trophy Points:
    113
    Location:
    Colorado USA
    Better off than me?
    I dont know about that comparison as an American but they are better and stronger than ever before under Putin and with the sanctions boosting them.

    The average Russian probably has it better than many places with their inflation so low and the economy booming hard. Many more opportunities for them now and they pay less tax on PMs than you guys in Oz.

    Better off than some for sure.
     
    Bullion NetWork likes this.
  13. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,584
    Likes Received:
    1,935
    Trophy Points:
    113
    I guess you can ask the question from the other side too, how do you know Americans are better off on average? (don't bother citing propaganda articles)

    Unless someone has lived in both places, no one can say either way.
     
    JohnnyBravo300 likes this.
  14. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

    Joined:
    Jun 5, 2010
    Messages:
    15,801
    Likes Received:
    2,587
    Trophy Points:
    113
    Location:
    here there everywhere
    I'll ask you, where are you getting your disinformation from?
    Russia is back to where it was 30 years ago.
    The opportunities are there again.
    It's becoming the business centre of Europe more than London is .
    My business partner got back from Moscow a month ago.
    And it's easier to operate there than here .
    His looking at moving back just because of the business opportunities.
    Same thing happening in India, the smart $ is moving back because of the opportunities.
    Less restrictions and oversite .
    Do you operate a business to pay taxes at every corner.
    Or do you operate a business to put $ in your pocket ?
     
  15. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

    Joined:
    Mar 16, 2019
    Messages:
    3,551
    Likes Received:
    3,396
    Trophy Points:
    113
    Location:
    Colorado USA
    Russia is already a major powerhouse and growing, the average citizen is behind Putin all the way.
    Thats a team thats set to win something eventually.

    With the average wages and home/rental prices in America i wouldnt say the average American is better off at all economically speaking.
    Maybe the average Russian has more purchasing power and full shelves at the store but other than that is anyones guess.

    I consider myself above average and not in the average situation with my off grid escapades.
     
    spannermonkey likes this.
  16. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

    Joined:
    Jun 5, 2010
    Messages:
    15,801
    Likes Received:
    2,587
    Trophy Points:
    113
    Location:
    here there everywhere
    Kishin tuchas
     
    mmm....shiney! likes this.
  17. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

    Joined:
    Mar 16, 2019
    Messages:
    3,551
    Likes Received:
    3,396
    Trophy Points:
    113
    Location:
    Colorado USA
    Etfs arent the real economy and you should know that.
    After 11 sanction packages they are doing just fine and better in some areas and we are still buying their oil through the side door. Hypocrisy at its finest!
     
  18. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

    Joined:
    Mar 16, 2019
    Messages:
    3,551
    Likes Received:
    3,396
    Trophy Points:
    113
    Location:
    Colorado USA
    We will see in a few years if Russia rises up even more but im betting they will.
    Germany had already been cut down and all of Europe is being pushed off a cliff soon as well as the US.
     
  19. Radio8tiv

    Radio8tiv Active Member

    Joined:
    Dec 2, 2016
    Messages:
    252
    Likes Received:
    130
    Trophy Points:
    43
    Location:
    Townsville
    However Germany is having real wage growth unlike here, so how “cut down” are they?
    Check out the chart in this article https://www.sbs.com.au/news/article...-is-it-enough/7ikogaqin?refURL=app.apple.news
    Also since we are on this forum and love our metals, Germany is the second highest holder of gold
    https://tradingeconomics.com/country-list/gold-reserves

    so,I guess they are not doing that badly yet.
     
  20. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

    Joined:
    Mar 16, 2019
    Messages:
    3,551
    Likes Received:
    3,396
    Trophy Points:
    113
    Location:
    Colorado USA
    Not bad yet. Just went into recession and thats not a good thing.

    We also have wage growth here but were headed for a black hole of debt hell.
     

Share This Page