Rickards is Right.

[barsenault]

 

[dccpa]

It doesn't make sense that Russia stops supporting the Ruble to conserve cash and at the same time voluntarily spends billions of that precious cash to buy gold. What I read weeks ago about Russia having to purchase mine production because the miners were having trouble selling the gold internationally makes more sense.

 

[Ghost Story]

Russia http://www.mining.com/from-russia-with-gold-54907/

 

[TreasureHunter]

Someone will be damn right in the end

 

[ryan71]

We Americans have something better than gold. We have obama.

 

[mmissinglink]

We Americans have something better than gold. We have obama.

We have the Petro Dollar...right now, it's better than gold or anything else. Until fossil fuels have long been exhausted and so long as the US can not force others to sell their energy resources in the USD, the dollar will remain King Kommodity.






.

 

[rodmadman]

We Americans have something better than gold. We have obama.

We have the Petro Dollar...right now, it's better than gold or anything else. Until fossil fuels have long been exhausted and "so long as" the US can not force others to sell their energy resources in the USD, the dollar will remain King Kommodity.






.

A fall from grace is usually quite rapid and often unexpected. At least it won't be unexpected!

 

[ryan71]

$17,000,000,000,000+ of US debt will be the straw that breaks the Petro-Dollar's back.

 

[dccpa]

We Americans have something better than gold. We have obama.

We have the Petro Dollar...right now, it's better than gold or anything else. Until fossil fuels have long been exhausted and "so long as" the US can not force others to sell their energy resources in the USD, the dollar will remain King Kommodity.

.

A fall from grace is usually quite rapid and often unexpected. At least it won't be unexpected!

We're taking everyone down with us, but we are polite. Your currency can go first.

 

[Altima]

I thought more and more countries are setting up direct trades between their currency and the yuan?

 

[Court Jester]

I thought more and more countries are setting up direct trades between their currency and the yuan?

yes which willl eventually hit a critical mass and that will mean Financial Death to America.

 

[Cheepo]

I thought more and more countries are setting up direct trades between their currency and the yuan?

Yes, but it's still limited in terms of % of world trade, or even trade with China, partly because the Yuan is not freely convertible. So if, for example, Russia sells stuff to China and is paid in Yuan, it can only use these Yuan to buy stuff from China.

 

[errol43]

$17,000,000,000,000+ of US debt will be the straw that breaks the Petro-Dollar's back.

Nearing the $18 trillion mark at this moment :/

Regards Errol43

 

[JulieW]

Allow me to be pedantic for a moment Mr Rickards:

Source: "could care less"

[youtube]http://www.youtube.com/watch?v=8Gv0H-vPoDc[/youtube]

 

[Eruaran]

I'm going to go out on a limb and suggest that those nations that have been stockpiling gold are the ones that will ultimately be making the rules.

 

[Ag bullet]

i second that

 

[zulu]

Julie

Thats how the yanks say it ...

 

[Cheepo]

I'm going to go out on a limb and suggest that those nations that have been stockpiling gold are the ones that will ultimately be making the rules.

I second that.

But not because of the gold. They are stockpiling gold because they are have a surplus of money. They have a surplus of money because they are rich. They will make the rules because they are rich, and can buy up other people, or oppress them (like the US has been doing since WWII).

 

[JulieW]

Julie

Thats how the yanks say it ...

England and America. Two countries separated by a common language!