The case for a gold-backed Ruble

[JohnA1]

 

At around 18 min he makes a good case

 

At 40' he describes another interesting scenario, which he rejects later on rather unconvincingly. That ties up well with the 'Great Taking' legislation already in place to raid ETFs among others.  JPMorgan has now been set as custodian ffs, the wolf protecting the sheep..

Edited October 1, 2023 by JohnA1

[Bratnia]

I can envision a rise of a alternative settlement system to the US$ on the rise. The BRIC's are over two-thirds of the worlds population and have massive amounts of natural resources. Post Ukraine war and the EU might be more inclined to adopt that alternative to the US Dollar. I do not anticipate that would result in any sanctions of the US however as in how the US has weaponised dollar clearance, as that would otherwise devalue that alternative. Alone and having lost being the major trade settlement currency status will be a big negative for the US. I do however anticipate that trade barriers will also be instated. Big moves in prices, but not massive moves/collapse. As part of that retail investment/holding of gold could very well become restricted, likely as per the US where 'gains' are taxed at relatively high rates. Labour are looking to close down 'tax loopholes' which may very well include CGT exemptions of legal tender gold coins. If that does occur then your purchase/cost base is the price at the time of that legislation.

[JohnA1]

The trouble is that all these countries are members of BIS.

Also there is the old saying: when you owe $1K to the bank you have a problem. When you owe $1m to the bank, the bank has a problem.

The US owes trillions that it cannot ever repay in any conceivable way. That might explain the series of 'mistakes' and 'errors of judgement' that undermine the dollar. They may be shooting themselves on the foot to avoid being drafted and get killed in the war.

China doesn't want its own currency used internationally, that is very clear.

They are all playing theatre, but if you zoom out things start to make sense