#RafiFarber - If Russia Accepts #Gold for #Oil, #Silver Quintuples
Zoltan Pozsar, Head of Short Term Interest Rate Strategy at Credit Suisse, is at it again with his monetary musings. This time, he says that Russia may respond to a $60 price cap on…
#RafiFarber - If Russia Accepts #Gold for #Oil, #Silver Quintuples
Zoltan Pozsar, Head of Short Term Interest Rate Strategy at Credit Suisse, is at it again with his monetary musings. This time, he says that Russia may respond to a $60 price cap on its oil by only accepting payment in gold. Read if for yourself here:
https://plus2.credit-suisse.com/shorturlpdf.html?v=5gjk-YP34-V&t=-7ev7jl105unaw8awa0bdw7c7c
Doing that would double the gold price almost overnight, he says, and he's probably right. By implication, it would also quadruple-to-quintuple the silver price.
But why would Putin offer a discount for oil if paid in gold? To answer that question, just answer this one first: In dollars vs gold, which is the money, and which the substitute?
You know what else oil for gold would do, says Pozsar? It would squeeze out all the gold and silver shorts in the futures markets. "Banks have been managing their paper gold [and silver] books with one assumption, which is that states would ensure gold wouldn’t come back as a settlement medium."
Interesting times indeed.
To find out more, click to watch the video now!
0:00 - Introduction
2:04 - Sponsorship
3:13 - LBMA & Comex Silver
4:30 - Putin, Oil, and Gold
7:47 - Oil For Gold Collapses the $
8:12 - Oil For Gold Forces Gold Squeeze
8:50 - $80 Trillion in Hidden Liabilities
11:35 - ECB Inflation Strike
14:00 - Paper Gold and Silver Destroyed
14:35 - Conclusion
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