The fate of the world's currencies in the wake of the demise of the dollar. - page 5
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No country on the Planet can back its currency with gold.
You have to have as much gold - as much money. Or as much money as there is gold.
If for example in Russia, in a particular region, you find a gigantic deposit of gold (billions of tons or more), well, then the ruble will be detached from oil and gas.
The market will simply morally bind the ruble to gold, and gold to the ruble. The Central Bank will not even need to make any steps or statements. Even the law itself will not have to be corrected. The pegging will happen all by itself.
The problem is not the amount of gold, but its gradual introduction into the economy as the economy grows, to meet demand (this is the function that gold lacks).
When the Spanish suddenly brought a lot of gold to Europe, the gold of the old elites (mainly church elites) which used to define the hierarchy suddenly became worthless. And it became insufficient for a life of ease.
The regulating resource (be it gold, silver, currency, or bitcoins) must ensure growth of the economy, because people multiply and want to live better.
So there must be growth. If there is no growth, it will lead to a caste society, where everything is static and development must be stopped.
My father had a bakery and I will be a baker and my brother can go to hell in America, he has no place here.
Of course it is, to get rid of the debt you have to devalue the debt, i.e. cancel it. This means that the entire multi-trillion dollar state of debt the US owes to countries will simply go to zero.
Not only will the U.S. no longer owe anyone anything, but no one will owe anyone anything at all. For example, Russia sold 15 aeroplanes to Brazil, worth up to 19 million dollars, and then the exchange rate depreciated, which means that we gave Brazil 15 aeroplanes as a gift... It's the simplest example, but the rest of the world will face problems not because of the dollar's decline, but because the debt limit will disappear. Unless, of course, countries come to their senses and introduce a measure that cannot be devalued.
We probably do not know how to handle it properly yet. We don't even allow every country to have an atom for peace.
Technology without internal combustion engines has existed for years. And for some reason it has not been continued. I mean, of course, development is slow. But we still drive with gasoline and fly with paraffin and sail with diesel. This will go on for a long time. Good old hydrocarbons - for a long time to come. And the country that has more of it will dictate its terms.
And gold and seeds.
They've taken paper money to unimaginable heights!
And in the 90s? Forgot about the "bill of goods": exchanging a bucket of electricity for obligations to the budget... This is the reality of our country, and recently.
And if you remember the USSR, the plan was ALWAYS calculated in kind - there was no money at all. And when the inter-branch balance was drawn up (how much coal for one tank), prices were assigned to all those goods and the value of the price did not play any role at all. They had been doing it for decades and the country was developing with an unprecedented speed, unprecedented for the whole world.
So gentlemen, let's climb a high mountain and sneeze on the quid and all the other currencies of the world, including the yuan.
PS.
We do not pay for our gas with Mercedes, but with the technology to produce it. And we will cut off the gas to the disgruntled.
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So gentlemen, climb the high mountain and from there sneeze on the quid and every other currency in the world, including the yuan.
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Are you a trader or what? What do you keep your deposits in? In sunflower seeds?
Some offices have metal accounts (and even in several metals at once), but I only know of one such office.
And gold and seeds.
They've taken paper money to unimaginable heights!
And in the 90s? Forgot about the "bill of goods": exchanging a bucket of electricity for obligations to the budget... This is the reality of our country, and recently.
And if you remember the USSR, the plan was ALWAYS calculated in kind - there was no money at all. And when the inter-branch balance was drawn up (how much coal for one tank), prices were assigned to all those goods and the value of the price did not play any role at all. They had been doing it for decades and the country was developing with an unprecedented speed, unprecedented for the whole world.
So gentlemen, let's climb a high mountain and sneeze on the quid and all the other currencies of the world, including the yuan.
PS.
We do not pay for our gas with Mercedes, but with the technology to produce it. And we will cut off the gas to those who are not happy.
No problem.
Egypt that produces potatoes does not need our gas.
And Turkey, which produces tomatoes, doesn't need our gas.
And America that produces food grain (and not fodder grain) does not need our gas.
What will we sell to them?
From the last ... liked it)))
http://politikus.ru/events/68529-nyu-yorkskaya-birzha-lishilas-73-zapasov-zolota.html
...
We don't charge for our gas with Mercedes, but with the technology to produce it. And we will cut off the gas to those who are dissatisfied.
An anecdote. Hunting.
- Hey, I caught a bear.
- Well, bring him here.
- He won't let me.
No problem.
Egypt, which produces our potatoes, does not need our gas.
And Turkey, which produces tomatoes, does not need our gas.
And America that produces food grain (not fodder grain) does not need our gas.
What will we sell to them?