Deuchebank is about to fail which will take out most of the EU. Only resiliency is essentially the gold reserves that the ECB has been building. The demographics and productive capacity of Europe is a disaster. They rely upon American military to back their social spending deficits. If US stops doing that then they will have to cut social spending and then those people will flee Europe. Not necessarily the type of immigrants Russia will want but perhaps better than jihadists. The decline of the US petro dollar will cause US military to stay close to home.
Only resiliency is essentially the gold reserves that the ECB has been building.
Seems that that "gold reserves" is in the best case are some papers, vouchers, or most probably just a digit in some database. Russia lost some part of "gold reserves" due to sanctions, Didn't get deep into, but something like London stock really held the gold, and Russia had only papers that this gold belongs to Russian government.
All that thing with gold looks fucking strange - where is all that gold really? I recall a story with gold plated tungsten ingots from US, but I suppose that casting a bars of tungsten (one of the most refractory metal in the world) to use them inside fake gold ingot will make it cost nearly as gold ingot itself. Tungsten is only 4 times cheaper than gold, add the extremely high temperature casting and finally casting gold ingot with tungsten bars inside. So, it is not about money, there is something else.
The confiscation is reserves is a short term win since it will cause a lack of trust that persists forever across all nations. There will be no more global centralized gold and each central bank will manage its own exchange.
Deuchebank is about to fail which will take out most of the EU. Only resiliency is essentially the gold reserves that the ECB has been building. The demographics and productive capacity of Europe is a disaster. They rely upon American military to back their social spending deficits. If US stops doing that then they will have to cut social spending and then those people will flee Europe. Not necessarily the type of immigrants Russia will want but perhaps better than jihadists. The decline of the US petro dollar will cause US military to stay close to home.
Seems that that "gold reserves" is in the best case are some papers, vouchers, or most probably just a digit in some database. Russia lost some part of "gold reserves" due to sanctions, Didn't get deep into, but something like London stock really held the gold, and Russia had only papers that this gold belongs to Russian government.
All that thing with gold looks fucking strange - where is all that gold really? I recall a story with gold plated tungsten ingots from US, but I suppose that casting a bars of tungsten (one of the most refractory metal in the world) to use them inside fake gold ingot will make it cost nearly as gold ingot itself. Tungsten is only 4 times cheaper than gold, add the extremely high temperature casting and finally casting gold ingot with tungsten bars inside. So, it is not about money, there is something else.
100%. :)
The confiscation is reserves is a short term win since it will cause a lack of trust that persists forever across all nations. There will be no more global centralized gold and each central bank will manage its own exchange.