Ruble - Worthless

TreasureHunter said:
I've read somewhere that besides gold, Russia just started (allegedly officially) stacking rare pearls, gemstones... for "crisis times".

Does anyone know more about this?

It sounds like they are prepping for something really really bad, if they went so far beyond (and below) gold and silver (out of which they have a lot).
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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."
 
TreasureHunter said:
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."
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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. :)
 
lucky luke said:
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. :)
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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.
 
TreasureHunter said:
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.
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You haven't been able to export gold out of Russia for a few years now.
 
mmm....shiney! said:
@leo25, pretty tough to be jumping in and out of the AUD/RUB trade and being confident you can make any money out of it.
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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:
 
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.
 
mmm....shiney! said:
Where are you getting your information from?
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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.
 
mmm....shiney! said:
Where are you getting your information from?
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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 ?
 
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.
 
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!
 
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.
 
JohnnyBravo300 said:
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.
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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.
 
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.
 
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