Russia - Rasised Interest Rate to 17%

Holdfast said:
As we can see, this is a very good example of why many stacker's say..."hold physical gold and silver as part of your portfolio".

It's too late to buy gold or silver when a currency crashes.

If Russian folk went to their dealer to buy gold or silver now it would be very expensive.

If they had already owned gold and silver before the crash of the rouble, they could now sell that gold for more rouble's. (Sure, some could argue that the price of silver and gold have dropped and of course timing plays a big part in hind-sight)

But...who knows how much further the rouble will drop and what actions Russia will take.

I say, a few lumps of gold is a good thing to have...ya just never know when things can turn turtle.

That's a very good lesson to learn from this. Add to it the lesson from the Cyprus banking system and people should understand very clearly the benefits of having some alternative stores of value, and also some alternative liquid assets.
 
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