Sirwin
Sirwin

Russia distrusts the dollar and adds gold to its reserves.


Gold has always existed among us, as a precious element, as the rings that the bride and groom have, in electronic contacts that we use daily, in the different jewels of the existing religions, but recently an important announcement has happened.

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World Economic Forum in St. Petersburg, a place where the most important economic powers, among them China, Qatar, Russia, the European Union and many others, meet.

Vladimir Putin confirms that he will eliminate from his reserves the totality of U.S. dollars by adding gold as a backing.

What this means.

  • Increased financial instability worldwide.

  • Increased tensions between great powers.

  • Creation of new global markets.

  • A more realistic economy.

Religious object composed mostly of gold.

 

Currently the price of an ounce of gold is around 1890 US which in my opinion is an extremely low price for the world's main safe haven asset.

One consequence is that in my country it is becoming extremely difficult to get physical gold without a spread of over 30%.

A few years ago I was able to acquire it through the internet without any problem, nowadays all the stocks are out of stock.

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An important fact to add is that interest rates in countries with a neoliberal economy do not exceed 1%.

It is really worrying at the point where we are on the level of indebtedness, I do not have enough years to live what has happened with extremely low interest rates.

But I have observed the consequences in newspapers or looking for television reports of the time.

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In contrast, countries that are more conservative and realistic with respect to the finite resources of the earth, maintain higher interest rates, above 4%, which means

  • High cost of indebtedness

  • Protectionism in their economy

  • Disincentive to foreign capital investment.

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Report from 1982, a period in which Chile had a very high level of indebtedness in foreign currency, which resulted in a complete privatization of its resources.

 

In addition to spending many years in a bad state, nothing is free in this life, everything has a cost.

 

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Introspection
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Chilean, for a better world equality or not equality but dignity


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