FriedrichVonHayek

The West owns debt and the Russians have no significant debt and vast resources.
The Chinese have a decent amount of debt but I would imagine they have vast amounts of Gold.
Who do you think is in the better financial position?

West has assets too… just is unwilling to exploit them. They prefer to buy from elsewhere to keep their hands green. Very short life on this. 

The West owns debt and the Russians have no significant debt and vast resources.
The Chinese have a decent amount of debt but I would imagine they have vast amounts of Gold.
Who do you think is in the better financial position?

The West owns debt and the Russians have no significant debt and vast resources.
The Chinese have a decent amount of debt but I would imagine they have vast amounts of Gold.
Who do you think is in the better financial position?

But they dont have 8000 tonnes of gold

It is interesting that many Western governments seem to have ignored gold, i.e. not been buying it recently.  A notable exception to this is Poland.  The countries that have been buying are China, Russia and India.  A surprising buyer is Singapore.  But Japan seems to be in the Western camp and is not buying.  Interestingly the Western camp have focused their reserves on US dollar debt.  This dichotomy could have serious consequences if US debt continues to increase unchecked.

If you say so...
It is semantics now... Hedge, speculation, asset, currency... Doesn't really matter.
The main idea is: the spot price is heavily manipulated by central banks, governments, big financial trading companies, billionaires, etc.
If I will sell some carat gold and @James32 will sell five sovereigns, the spot price will not move. But if China, India, Bezos and Musk will decide to buy today all the gold available on market, the spot will jump. Me and James are not speculators, but the big buyers are.

100%. Middle-class taxes (especially directors) have gone up. No NI cuts apply for Directors due to the way they take Dividends. Instead, directors get just £500 dividend allowance from 5th April, and their company profits are being taxed higher (since last year) while sales are halving (for non-essential retail). No drive for Directors. I'm planning to quit. Nice once Rishi/Jeremy.
Being an entrepreneur will be pointless. Without entrepreneurs, there would be less innovation. Also, the middle class mostly has mortgages, and we all know what's happening with interest rates.
So the middle is genuinely struggling. However, it will be even harder for lower income earners (food, energy will hurt them most). But minimum wage is going up quite a lot this week - so there's no denying that middle and lower are merging to one class.
But we genuinely need both classes because all job roles in life are important and necessary to make the world work.
God knows where this will end up. UK is becoming a slum. 

decimatilism started in the early 1970's. When coins worth their weight in copper, silver, gold started a transition to where you now work for payment in near worthless pieces of paper/metal.

The Bank of England and the Federal Reserve are trying their best to make it a precious metal.

Shanghai
1 Apr 2024 AM
USD 2,289.53
 
 

https://www.inflationtool.com/british-pound/1970-to-present-value?amount=1&year2=2024&frequency=yearly
This is interesting, I had worked out an old £1=240 pennies would have copper worth £15.52 in them.
Now according to this inflation calculator a £1 in 1970 would be worth £15.60.

Shanghai
1 Apr 2024 
USD 27.99

Shanghai
1 Apr 2024 AM
USD 2,289.53
 
 

Shanghai
1 Apr 2024 AM
USD 2,289.53
 
 

Shanghai
1 Apr 2024 
USD 27.99

Shanghai
1 Apr 2024 AM
USD 2,289.53
 
 

Big arbitrage to CME

Shanghai
1 Apr 2024 AM
USD 2,289.53
 
 

Shanghai
1 Apr 2024 AM
USD 2,289.53
 
 

Shanghai
1 Apr 2024 
USD 27.99

https://www.inflationtool.com/british-pound/1970-to-present-value?amount=1&year2=2024&frequency=yearly
This is interesting, I had worked out an old £1=240 pennies would have copper worth £15.52 in them.
Now according to this inflation calculator a £1 in 1970 would be worth £15.60.

https://www.inflationtool.com/british-pound/1970-to-present-value?amount=1&year2=2024&frequency=yearly
This is interesting, I had worked out an old £1=240 pennies would have copper worth £15.52 in them.
Now according to this inflation calculator a £1 in 1970 would be worth £15.60.

Pre 1992, 1 and 2 pences are 97% copper.

https://www.inflationtool.com/british-pound/1970-to-present-value?amount=1&year2=2024&frequency=yearly
This is interesting, I had worked out an old £1=240 pennies would have copper worth £15.52 in them.
Now according to this inflation calculator a £1 in 1970 would be worth £15.60.