Peter Schiff Shared: Russians on a Gold-Buying Spree Schiff gold.
Community Response: If Russia has been buying gold is mass amounts why is the price so low? Because there’s no supply shock and won’t have any.
If supply shock price goes up. Price is shit on gold right now. There isn’t a supply shock. Simple supply and demand.
The price of gold won’t go up. There is no demand. There is no utility for gold anymore.
If (WHEN?) Russia backs the Ruble with gold, it will be GAME OVER for the petrodollar system.
Then why hasn’t it yet? Wait till they buy bitcoin. Central banks around the world are buying gold as physical reserve. In case of inflation or currency depreciation, they don’t buy bitcoin.
Imagine if Russia builds a strong position in Bitcoin and then states it will only accept natural gas payments in bitcoin. The European countries, in order to keep prices predictable would be forced to buy bitcoin and overnight the negative balance countries would be in trouble.
Just because fools are buying $SHIB doesn’t mean I have to buy $SHIB. Lol.
But yet the price doesn’t move up. Only goes down. What the hell is going on with the markets?
Bank of England Governor.Oct.1999. “Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we succeeded. The US Fed was very active in getting the gold price down. So was the U.K.”
I am just here waiting for your son to comment that CBR is stupid for not buying the Bitcoin dip.
Just like stock buyback to pump the price of Gold; Russia owns a lot of rough Gold. But this effort to pump the price of Gold will not bear any fruits.
Price still is not going up and I’m in gold. It’s only a hedge on calamity. Maybe if inflation sticks it’ll do something.
Russia Government has nothing to do with Russians. Be correct Peter. Says pound and clear Russia Government etc.
Ah yes, Nation states on a buying spree, that explains the parabolic rise.
Moving Gold from one warehouse to another warehouse to pump the price is not real buying.
So what? They are also the third largest bitcoin miner. They know what they really want to mine buts there’s actual limited supply. So, they have to buy some gold instead. Just like you, just a little amount. Russia GMI.
Putin sometimes call me and ask for financial advice. I can hardly understand him and not have the time so I just say buy gold.
Here all buy gold, but the price goes down every day why?
Sorry, but the Russians are looking for cryptocurrency specifically bitcoin now. There’s no use case for gold now.
You’d never know it by today’s action. Russia is looking for that -0.21% 10 year return I see. Big brain government action.
Because they’re not buying CFD but real gold.
Gold must be up today. How does it feel to get trolled by your own seed. Gold is a shit coin.
If the Russians actually start a war in Ukraine wouldn’t make sense for them to buy gold? I suppose it makes them less vulnerable.
They have been buying gold En Masse since 2013.
In Russia, gold bars are rusting. There’s no way they ordered it from you. You charge way too much for shipping. Sell all your Gold to Russia. Perhaps, they know they are going to invade Ukraine.
Central Banks are buying U.S. Dollars faster than they are buying gold; hence gold continues to sink while USDX surges to new highs for the year backed by Powell’s huge credibility.
I see lot of arguments over Gold vs Bitcoin. I look them both as Honda vs Toyota. Both are good cars and have good market share.
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