"If that is the case, then with the BRICS trading in local currencies and net settling in gold, all that the west capping gold to try to financially repress investors back into western sovereign debt would do would be to make gold buy more oil and commodities and goods in China/BRICS than in the west…which would lead to a hollowing out of western gold vaults, until either the west ran out of gold and declared force majeure, or gold’s price rose."
2008 - 1 oz gold = 8 barrels oil 2024 - 1 oz gold = 38 barrels oil
This has massive implications across all commodities, just that gold is showing the way in the new non unipolar world. Seismic shifts ahead. Interesting times @arsenic
Commodities matter again and even when measured in traditional USDs the prices are heading much higher.
Copper next!
"We think the “financial repression” playbook of “everyone is going to buy western sovereign debt” is going to be surprised to find that what actually happens is that “gold holders (and BTC holders) will buy that debt, but only AFTER gold has been repriced to its historical value relative to western sovereign debt outstanding.”
I don't have a money printer like a central bank so any monetary hedges are welcome #commodities and PMs
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