Ruble Nears Two-Month High, Sparks Doubt Over ‘Synthetic’ Rally
The ruble rallied for a third day to approach the highest in more than two months, evoking skepticism from currency strategists who say the market is broken because of capital controls, forced dollar sales and ultra-thin volumes. Russia’s currency jumped as much as 7.3% on Thursday, sealing its rebound from a collapse that followed the nation’s invasion of Ukraine and sanctions that isolated it from the global financial system. A key driver of the latest gains is the continued demand for Russia’s oil and gas in Europe and elsewhere, handing the country almost $1 billion a day in revenue.
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Every day that the ruble increases, is another day that gold increases since Putin pegged the value of gold to the Russian ruble. But gold is composed of two elements: physical gold and paper gold. How long before paper gold becomes as worthless as the US dollar? It seems that we are very close to finding out.
David DeGerolamo
Exactly, David, and the quote from the article, below, on Rubles fits precisely the current situation on gold.
“It’s a completely artificial level and so very little credence should be given to it,” said Cristian Maggio, the head of portfolio strategy at Toronto Dominion Bank in London.
My hopium fixation is the destruction of the central banks and the Rothschild’s. If that is accomplished I think everything else would sort itself out rather quickly. The Rothchild bank cartels are, IMHO, the head of the snake.
So, my hat is off to Vlad Putin. If he can manage to destroy the central banks, he will have, perhaps inadvertently, saved the West.
From a sardonic point of view, this is cause for laughter. What the anal-ists are saying under their breath is that they are terrified that Russia is winning the money war. In effect, it will collapse the dollar. That will hurt the investors while giving the bankers opportune incentive to institute a new Ponzi monetary policy that can be blamed on Russia thereby getting them off the hook for their own fraudulent greedy stupidity. It’s laughable except that it will hurt we the people in more ways than one. This is part of the Great Reset. This is no accident. It was planned well in advance.