/biz/ - Business & Finance

>>20550416
Thanks anon, I needed a laugh today

>>20511166
I'm not sure if its that bleak, at least comparatively. We know Russia has been stockpiling, but it would have to be domestic production, since Russia has the GDP of Italy. China kicked around the idea of encouraging gold ownership by the plebs as a sort of decentralized fiat insurance, but given that vast swaths of the country are sub-Saharan tier, this has been limited. And while the government snaps up almost all the mining output, its China. They are known the world over as counterfeiters, and they would never submit to independent audits. They could roll out a gold backed digital RMB tomorrow and you couldn't pay people to trust that. Ultimately the X-factor in any money is trust.

The more I research this topic, the more I see the United States being ambivalent to holding any gold reserves, the more I start to believe in the government silver conspiracy where they've been stacking via banks since 2010. I thought it was bullshit, but if we knew that Europe was trying to set up a gold backed system in the 70s, and we knew Russia and China were working toward a gold backed system, it wouldn't make sense to compete with them at a several decade disadvantage. Why not use what we've got? And the new world has a LOT of silver.