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Russia has a $140 billion stockpile of gold, but no one wants to buy it (finance.yahoo.com)

submitted 2 years ago by [email protected] to c/[email protected]

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[+] [email protected] 10 points 2 years ago (1 children)

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[–] [email protected] -2 points 2 years ago (3 children)

I think the point is, nobody trusts them enough to accept certificates. They'll sell it -- at discount -- when they put it on a train and deliver bullion.

[–] [email protected] 6 points 2 years ago

I'm sure China will raise no objections. Neither will India or Turkey.

[–] [email protected] 4 points 2 years ago (1 children)

Nobody being a small set of countries that arrogantly believes themselves to be the entirety of the world:

What nobody will trust going forward is the western financial system. Now that there are multiple cases of central bank assets being seized completely illegally, any countries that aren't already vassal states of the US will start moving to a new system. China's CIPS being a prime candidate.

[–] [email protected] -3 points 2 years ago (1 children)

Lol, are you rushing to sign up for a Russian back account? I hear the exchange rate for rubles is starting to look like satoshis. And China plays so many games with their currency that nobody trusts it now. Seriously, keep wishing as hard as you can, but there's nothing better yet.

[–] [email protected] 2 points 2 years ago

I certainly expect that Russia's financial system will fare much better than western one in a few years. Again, I have no idea who it is that doesn't trust Chinese financial system given that it's already doing a comparable amount of transactions to SWIFT. You could try educating yourself on this, here's a book you could try reading https://ca1lib.org/book/17400989/38bcf4

[–] [email protected] 3 points 2 years ago (1 children)

Makes sense enough, i don`t know what you mean with certificates, but i believe its not easy to sell even if you find a market because this is something regulated at some point i guess.

[–] [email protected] 3 points 2 years ago

Russia is offering certificates of ownership, rather than delivery. People being to suspect it doesn't all exist, at that point.

[–] [email protected] 6 points 2 years ago

I doubt it.

[–] [email protected] 2 points 2 years ago

I bid $2 per ton. Cold hard American cash Putin, you should consider it. You know how to get in touch.