Talking About Commodity Backed Money: Russia And Iran Looking At A Stablecoin
The is speculation that Russia and Iran are looking into a gold backed stablecoin. This will get the gold bugs jumping.
In this video I discuss the mythology around this and how countries that take this approach risk redemption. Of course, we saw this before so it is inn ot uncharted territory.
▶️ 3Speak
0
0
0.000
Yeah, they want their gold to become liquid and transfer/sell it impacting the price. Imagine you have billions of gold to sell in order to finance your isolated state. It's not like the world economy needs those masses of gold right now for the next human endeavor and even Italien woman from Milano have a glitter limit before they look like Christmas trees.
I do think it will but I wonder if people can really cash out for actually gold or not. I think the premium prices for gold/silver is something they have been concerned about and if it can go that way, then they might be jumping in joy.
Posted Using LeoFinance Beta