Miscellaneous News
- Thread starter bd popeye
- Start date
The Russian Central Bank has announced that the ruble is now tied to gold at 5000 rubles per gram of gold.
There are 28 grams in each ounce. 28 grams for 5,000 rubles per gram is 140,000 rubles.
If the rubles are tied to gold at 5000 rubles per gram, and there are 28 grams per ounce, which means that an ounce of gold would cost 140,000 rubles, then the conversion into US dollars means that gold costs 1400 dollars per ounce when using the rubles, instead of 1,928 dollars by ounce using the dollars.
This effectively means Russia just wiped out about 30 percent (30%) of the US dollar worldwide when it comes to gold ingots.
This has been cause for people all over the world to literally throw their money on the ruble and disregarding dollars and euros to do it.
What Russia just did is the financial equivalent of detonating a nuclear bomb.
The last guy on this planet to try to support a currency with gold was Muammar Quadaffi of Libya.
That did not work out well for Quadaffi. That was a threat that needed to be removed by those not wanting to see currency supported by gold.
What Russia has done will damage both the US dollar and the Euro.
Last week, Russia said it would sell only OIL and GAS in Rubles
This means that Russian oil and gas are anchored in gold with rubles like gold proxy.
EFFECT: Europe (which needs Russian gas and oil) will now have to buy rubles from Russia using gold, or pay for oil and gas with gold itself.
Currently, the FOREX rate for Rubles to Dollar is around 100:1
BUT... with 5,000 Rubles now equivalent to a gram of Gold, and oil being priced directly into Gold, we will see a MASSIVE price disturbance in the FOREX markets, in terms of how much Gold a Dollar can still buy.
Foreign countries holding dollar debt notes as a reserve will see an immediate and much less use for them and will want to start downloading them in favor of something more stable; something that holds its value.
Basically, any currency anchored in gold will fit into the account. which means countries - like Japan - will start unloading their dollar debt as soon as possible. They'll move to more stable values like... The Ruble.
This will have a DE-flationistic effect on the Ruble, making it more precious with time.
The immediate result is that all those foreign countries dumping their dollar reserves will make all those excess dollars start going home, triggering a worse hyper-inflation than what already goes on in the USA.
Russia holds roughly $130 billion in gold reserves, according to lawmakers.
Unleashing sanctions on Russia will bring a backlash that will effect the entire global economy. - Paul Watson analysis
There are 28 grams in each ounce. 28 grams for 5,000 rubles per gram is 140,000 rubles.
If the rubles are tied to gold at 5000 rubles per gram, and there are 28 grams per ounce, which means that an ounce of gold would cost 140,000 rubles, then the conversion into US dollars means that gold costs 1400 dollars per ounce when using the rubles, instead of 1,928 dollars by ounce using the dollars.
This effectively means Russia just wiped out about 30 percent (30%) of the US dollar worldwide when it comes to gold ingots.
This has been cause for people all over the world to literally throw their money on the ruble and disregarding dollars and euros to do it.
What Russia just did is the financial equivalent of detonating a nuclear bomb.
The last guy on this planet to try to support a currency with gold was Muammar Quadaffi of Libya.
That did not work out well for Quadaffi. That was a threat that needed to be removed by those not wanting to see currency supported by gold.
What Russia has done will damage both the US dollar and the Euro.
Last week, Russia said it would sell only OIL and GAS in Rubles
This means that Russian oil and gas are anchored in gold with rubles like gold proxy.
EFFECT: Europe (which needs Russian gas and oil) will now have to buy rubles from Russia using gold, or pay for oil and gas with gold itself.
Currently, the FOREX rate for Rubles to Dollar is around 100:1
BUT... with 5,000 Rubles now equivalent to a gram of Gold, and oil being priced directly into Gold, we will see a MASSIVE price disturbance in the FOREX markets, in terms of how much Gold a Dollar can still buy.
Foreign countries holding dollar debt notes as a reserve will see an immediate and much less use for them and will want to start downloading them in favor of something more stable; something that holds its value.
Basically, any currency anchored in gold will fit into the account. which means countries - like Japan - will start unloading their dollar debt as soon as possible. They'll move to more stable values like... The Ruble.
This will have a DE-flationistic effect on the Ruble, making it more precious with time.
The immediate result is that all those foreign countries dumping their dollar reserves will make all those excess dollars start going home, triggering a worse hyper-inflation than what already goes on in the USA.
Russia holds roughly $130 billion in gold reserves, according to lawmakers.
Unleashing sanctions on Russia will bring a backlash that will effect the entire global economy. - Paul Watson analysis
G7 countries including Japan are also banning coal import from Russia. Russia can now supply more coal to China.
This is actually good for China as it helps ensure a more reliable supply of Russian coal to replace any Australian coal.
Andrew Marquardt
Fri, April 8, 2022, 1:40 PM·3 min read
Life expectancy in the U.S. is now a full two years shorter than it was before the pandemic, according to a , reflecting the deadly toll of COVID across the country.
It’s the second straight annual drop in life expectancy, though the decline in 2021 was less dramatic than in 2020, when the pandemic started and effective vaccines had not yet been developed.
Overall, life expectancy across all groups dropped to 76.6 years in 2021, down from 77 in 2020 and 78.9 in 2019, according to the study.
The decrease in U.S. life expectancy in 2021 was split heavily across racial lines, with white Americans bearing the largest brunt. Among white Americans, life expectancy dropped roughly a third of a year in 2021, whereas among Hispanic Americans there was a slight increase in life expectancy, and among Black Americans, it rose by 0.4 years.
Things were far different in 2020, when deaths from COVID-19 . In 2020, U.S. life expectancy dropped 3.7 years among Hispanic Americans and 3.2 years among Black Americans, the study found.
The authors of the study said the reasons for the “surprising crossover” in racialized outcomes between 2020 and 2021 were “not entirely clear and likely have multiple explanations.” But they speculated that vaccine hesitancy among certain populations could have been a factor.
“It’s hard to imagine that willingness to be vaccinated is not a piece of that puzzle,” Laudan Aron, a senior fellow at the Urban Institute and coauthor of the study, The Washington Post.
While life expectancy for white Americans declined 0.3 years in 2021, life expectancy for all Americans dropped by 0.4 years. This is likely caused by lower life expectancy rates among populations that the study’s authors said were too small for estimates to be done separately, such as Native Americans and Alaska Natives.
The study, which was not peer-reviewed, noted that despite the racialized reversal in 2021, “Hispanic and Black populations clearly experienced much larger losses in life expectancy than did the White population” in the two years since the pandemic began.
Nearly have died from COVID-19 during the two-year pandemic. Meanwhile, drug overdoses fueled by the opioid epidemic killed more than 100,000 Americans in 2021, a record. These are two of several factors that could have contributed to declining U.S life expectancy.
Among 19 other peer countries analyzed in the study, the U.S. experienced the largest decline in life expectancy over the last two years. Still, there is hope that things will improve in 2022.
As of April 7, more than 77% of Americans have received at least one dose of a COVID vaccine, and roughly 66% of the nation has received at least two vaccines, according to from the Mayo Clinic.
And as COVID-19 cases continue to remain relatively low in 2022, the current seven-day moving average of new deaths compared to the previous week, according to the Centers for Disease for Control and Prevention.
"The decrease in U.S. life expectancy in 2021 was split heavily across racial lines, with white Americans bearing the largest brunt. Among white Americans, life expectancy dropped roughly a third of a year in 2021, whereas among Hispanic Americans there was a slight increase in life expectancy, and among Black Americans, it rose by 0.4 years."
"While life expectancy for white Americans declined 0.3 years in 2021, life expectancy for all Americans dropped by 0.4 years. This is likely caused by lower life expectancy rates among populations that the study’s authors said were too small for estimates to be done separately, such as Native Americans and Alaska Natives."
Another inferred conclusion from this study is that the life expectancy for Asians have declined in 2021.
Ami Bera, the Democratic chair of the House foreign affairs Asia subcommittee, said the US had to ensure China could not use security pacts in the region in the way that it employed “salami slicing” tactics in the South China Sea to gradually militarise a number of reefs and islands.
“Give them an inch, they’re gonna take a foot. Give them a foot, they’re gonna take a yard . . . You’ve got to stop them on that first inch,” said Bera, who has co-introduced the “Blue Pacific Act” to boost funding for diplomacy and development to counter China. “It’s a lot easier to prevent a war than it is to fight a direct confrontation.”
“Give them an inch, they’re gonna take a foot. Give them a foot, they’re gonna take a yard . . . You’ve got to stop them on that first inch,” said Bera, who has co-introduced the “Blue Pacific Act” to boost funding for diplomacy and development to counter China. “It’s a lot easier to prevent a war than it is to fight a direct confrontation.”
Small note, precious metal use the troy ounce, it's 31.1 grams in an ounce
Just one nitpick. The ounce used in gold trading is troy ounce which is 31.1 grams. If you do the math the 5000 rubles per gram of gold, is roughly 1923 USD per troy ounce almost same as market price of gold.
Got me a little scared, since i own physically gold. So i have to check.
Still this is a solid step to keep in check printing USD to buy anything.
