BREAKING: Russia says it will cut U.S. dollar holdings in its wealth fund to zero https://t.co/EOMLKdCg9t pic.twitter.com/m0XiL4Z4Nb
— Bloomberg Politics (@bpolitics) June 3, 2021
Where a Redneck Jew, a Hispanic Catholic, and a Computer Geek write about Gun Rights, Self Defense and whatever else we can think about.
BREAKING: Russia says it will cut U.S. dollar holdings in its wealth fund to zero https://t.co/EOMLKdCg9t pic.twitter.com/m0XiL4Z4Nb
— Bloomberg Politics (@bpolitics) June 3, 2021
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Can’t say as I blame them.
On a 10-year timescale, the ruble isn’t looking so great either.
Like Eric said, which inflated currency do you want to pick ?
My son thinks that Trump was given a choice by the world community, inflate the Dollar or WW III. Trump chose inflation. Wise man.
As they should. It’s the prudent thing to do.
Off Topic,
Minneapolis tore down the barriers aroung George Floyd Square at 6AM today. The protesters put the barricades back up. So far itbis only words. No violence.
A complication. a US Marshal Task Force tried arresting a murder suspect in Uptown at Lake Street and Girard in Minneapolis this afternoon. There was a shootout, and the suspect got killed. No word on races of the officers or suspect yet.
There is a crowd gathering at the scene. It is pasty White. Very White Mob. Don’t worry they are all chanting anti-police slogans, and verbally harassing the police.
It may be an interesting (not in a good way) night here in Minneapolis-Saint Paul.
Hmmm.. Twitter #Minneapolis may get interesting tonight
Good News in Minneapolis. It is still mostly peaceful* tonight at 10PM CDT.
Most of the protesters at the police involved shooting dispersed. The actual crowd actually got a little more diverse, but was still majority White and just as stupid and obnoxious as before. Some protesters remain, but all the police have left.
The US Marshals task force was attemting to apprehend a
murder suspectknown felon with a gun on a state arrest warrant. He pulled a gun and shot at Law Enforcement. They shot back, he died. There was a “girl” in his car, she was detained and had minor injuries from broken glass when the police removed her from the car. No information on the trace of the suspect or LEO.The George Floyd Square and Police NO-GO Zone is once again barricaded. The protesters moved cars in to block the road. The City of Minneapolis has not tried to remove the barriers again.
*Hardcore Stay Behind Protesters started a dumpster fire at the shooting scene about 10:10 tonight. No police were still on scene.
The news item (about Russia, not MN) raises a very interesting question about motive. Why would Putin do this?
1. He seriously believes that the US Dollar is now less sound than the Ruble. Since he’s a KGB official, that it slightly plausible.
2. He wants to cause more pain to Biden. Possible, but why bother when Biden already has all the powers of resistance of a spiderweb?
3. He wants to get out of dollars in preparation for an economic warfare attack intended to destroy the dollar. Quite plausible, especially with all the cybercrime gangs he controls in Russia. I wonder if one of them is in the process of doing a ransomware attack on the Fed. Now that would be painful. (It would also be grounds for the first formal declaration of war since 1941.)
With hyperinflation staring US in the face, I’d get out of the dollar, if I could. Big problems, since all my precious metals sank on the boat wreck with my gun.
“Economic warfare attack“? Really? Do you think Biden needs help destroying the United States economy? He’s doing a bang up job himself. Since that is the goal of the democratic party right now: permanent complete and total economic ruination of the United States. To destroy the United States economy deliberately so badly it will never recover.
Guns, ammo, silver and crypto. And gold if you can afford it.
Few points- article came from BLOOMBERG (name sound familiar gun owners??)
Latest “crisis”??? We know how libs luv a crisis.
IF it all goes to hell how is owning “precious metal” gonna save you?? You cant eat it. And who would want it in trade for goods?
IMO lead will be worth far more than anything else. Not being a dick, really curious about this..
Ammo is certainly a possible trade good.
But “money” is a simple thing: any object that, by cultural agreement in a particular group, is used as a medium of exchange or stored value. That might be ammo, salt, cockle shells, or carved stone wheels. It might be gold, or silver, or other metals. The notion of “money” is cultural and psychological, not a question of physics.
However, through several thousand years of history, while many things have been used, there has been a surprising agreement in many times and places that gold (and to a lesser extent, silver) is a good choice for money.
No, you can’t eat money. The point of money is that you can trade good A today for money, and then trade that money for good B (perhaps food) at a later time. Money, unlike fish, doesn’t go bad in 3 days. (At least not real money; fiat money is a different matter.)
For all this spelled out in great and impressive detail, read Ludwig von Mises, “The theory of money and credit”.
BTW, apart from lead I’d add mercury and nitric acid as things to stash away. 🙂