Dear Paul,
> Do you think that "encouraging" of buying gold is bad? I think gold is
> better than dollar.
No it isn't bad!!! It's excellent! It is just very surprising given the
ideology behind the two countries. In the days of the Bolshevik Revolution,
the United States were a country who's system of law was based on the
foundation of private property ownership, and therefore the freedom to use
gold as money. The ideaology of Marx was to eliminate the private ownership
of all things. (I may be oversimplifying it, but it is safe to say that
communists have never before been advocates of hard money.)
Now, the poles have completely reversed, and we see China and Russia
promoting the ownership of gold by their citizens, while the US and other
"capitalist" countries officially deny that gold is money! My somewhat
sarcastic article was to suggest that in addition to trying to shore up
their own economies, this move by China and Russia may be intended to weaken
the dollar as well by pushing US dollars out of their countries and
replacing them with gold as a savings instrument. I think that's a great
idea too!
> Well and they are right. Would you gladly accept the use of RU Ruble as a
> savings instrument?
I would gladly take Gold Russian Rubles (physical coins) over US paper money
any day! Does anyone have any gold rubles they want to trade for some US
Dollars?
With regard to the "secret crisis", my thoughts are that this is either the
ranting of silly conspiracy theorists, wishful thinking, or a deliberate
propaganda attempt by the Russian government to discourage people from
holding their savings in US Dollars. Unless you have some real-life
prophets over there, financial crises are impossible to predict to the day.
(Unless the predictions are based on a plan to do something on that day that
would start a crisis - like nuking NYC or invading Taiwan, for example.)
Regards,
Ken Griffith
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