Anyone out there with deep knowledge of reserves each country has? There will be a rise in gold, so I would oil will drop relative to gold, but will skyrocket relative to currencies. Nations will have to tap places like the Comex, which will eventually expose the paper gold market being an empty shell, which will further explode the price of gold and silver.
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I believe people here are not fans of reddit, but they have a group called "wall street silver" that covers the bullion market conversations very well. I believe Russia produces 9% of the worlds silver, and the LBMA just announced they will not be receiving any gold deliveries from six of Russia's largest banks. This will limit supply to the COMEX drastically. In addition the BRICS are working to unseat the USD, https://goldstockbull.com/brics-countries-going-gold/
Gold is already ~$2000/troy oz. This is going to be hard on the Euro greenies who crippled their energy production.
The only way this makes sense is it’s the start of GESARA. Just sayin.
Just grasping at straws here…. But if Biden is refusing to accept Russian oil could it be he can’t afford to pay ?
Today an oz of gold buys 16 barrels of oil. The US uses roughly 20,540,000 barrels a day, of which 5M we now have to purchase. In gold that's 312,500 oz per day. That's 9,760 tons PER DAY**. In perspective, it would require 100% of the gold mined in the world per year to cover 40% of the cost of oil we now purchase from other countries. We have a problem. This is why wars are fought for resources.
This wouldnt last, if Russia said they require gold for oil. Gold prices will skyrocket
So gold will be worth much much more and require less to purchase with
Gold is very underpriced. Not sure how it effects silver. As an aside, we use a f'n crap load of oil!
Tells me gold is severely underpriced.
You have a comma where you should have a period. 9.760 tons per day. Check your math;)
9.765625 tons. Good eye. The math is right, just hit comma instead of .
This would force Gold drastically higher, and cause more harm to the Comex.
Where's it say that?