BRICS countries have been talking about their own currency at...

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28/10/22

13:28

Post #: 64457302
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Originally posted by signalFollower: ↑

Firstly, I have to say "lucky there's next to no overheads for AAU to reign in then"

I actually beleive that there's more than a recession coming, there's capitulation on interest rate policy, the resultant pivot and then that'll see a boom in precious metal prices due to loss of confidence in the USD and their spiraliing sovereign debt servicing costs. (emphasise servicing costs)

IMO It's no coincidence that the BRICS movement is gaining strength, and especially Saudi Arabia, at a time where we also see data regarding the flow of physical precious metals being from the West to the East

using this graphic, you can easy do an 'eyeballing' look at the BRICS nation's combined oil outputs far eclipsing the non-BRICS and hence I find it easy to accept that in light of recent weaponising of sanctions and even the USD Currency Wars, that BRICS aligned nations would much rather transact in something other than a super inflated USD (plus then add in the next 5 nations already knocking on the door to join BRICS)

recent BRICS interest

so no real surprise that the non-West countries are suring up their holdings of physical Gold (and Silver in the case of India), all of these articles are out there to easily find

so two main things:

Green Energy is noble as a cause, but shipping of cargo internationally and air transport is still going to rely on oil based energy for quite some time
the paper spot price of both Silver and Gold is just that "paper price" and it being low in context to increases in money supply have created the accelerated outflows of physically deleivered precious metals against futures contracts

the day we wake up to see a statement from the Crown Prince of Saudi Arabia that they've run their course with the petro-dollar arrangement, is when it gets really interesting for the Gold / Silver prices, and any GDX / GDXJ kind of exposure shoudl do well, especially the ones that have the proven resources and are already undervalued.

all just my theories from reading and watching alot, but it stacks up IMO.

for those still following, this fund manager interview came out just this morning and is basically aligning with alot of the above too

GLTAH for whatever reason you choose tocontinue to hold or top up or depart from the share register even

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BRICS countries have been talking about their own currency at least for the last 13 years, they`ve been slow to make any progression so far. Let see what happens I wouldn't be too excited about that. I wish all of us better times and gold price going up to 3000$ but the near future is unpredictable.
AAU Price at posting: 4.9¢ Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

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