The title is a misnomer, as we will discuss news we routinely hear that is not true about the economy, inflation, and precious metals. The same skepticism usually reserved for April 1 should really be used all year long.
With gold higher this morning than the update Wednesday, we see the Russian Ruble had doubled in value against the dollar in the last three weeks - when an announcement was made that the “…ruble was rubble”, and that sanctions were going to kick Russia’s tail. The truth is, that sanctions harm Western nations as much or more than Russia.
We have sanctioned the front door, but not the back door, where 84% of the world’s population still trades with Russia. Unless we intend to sanction the rest of the world, these efforts have become almost futile.
Another report from London metals analyst Alisdair Macleod indicates that true gold reserves in Russia are believed to be 12-13,000 tons of gold, with nearly 20,000 tons in China.
Precious metals and natural resources have become the preferred assets on a national and personal level. The actual price boom is just beginning; consider coming aboard this train if you haven’t already.
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About the Author: Bill Stack
Financial Analyst of 29 years and Gulf War Veteran, Bill has been helping families nationwide keep their money safe and growing since 1993. As a Certified Financial Fiduciary® and a RICP®, Bill specializes in helping protect your assets with growth potential.