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Putin's latest move will hurt the US and increase inflation

Grouse
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Grouse Grand Master

Grouse

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Here comes the Great Reset.
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"I don't think people realized what just happened over the past few days, so I'm going to try to explain what I'm seeing: The Russian central bank pegged 1 gram of gold to 5000 Rubles (currently, about 50 bucks). At the same time, Putin made it so that Russian gas and oil can only be purchased in Rubles. Meaning: Putin basically just pegged Russian oil and gas to gold, using paper rubles as a proxy. Meaning: Europe will need to either buy Rubles from Putin in gold, in order to buy gas and oil, or they will have to buy directly in gold. Which means, there will soon be a lot more demand for rubles.
 
Currently, the forex rate for rubles to dollars is about 100:1. But... with 5000 rubles now equaling 1 gram of gold, and oil being priced directly in gold - you're going to see a massive price disruption in these FOREX markets, in terms of how much gold a dollar can actually still buy. Foreign countries holding our dollar debt notes in reserve will see less of a use for them, and will want to start dumping them, in order to get something more stable, something which holds its value.
 
Basically any currency pegged to gold now will fit the bill. Which means those countries - countries like Japan - will be dumping their dollar debt as fast as they can. They're are NOT going to go down with the ship. And they will move into more stable currencies - like the Ruble. Which will have a deflationary effect on the Ruble, making it more valuable over time. Which means Putin will be able to re-peg the Ruble to Gold at whatever rate he wants, down the line. It's 5000 rubles today. Tomorrow, it might be 500. And then 100. And then 10.
 
This also means all those excess dollars being dumped by foreign nations are about to come home and cause even worse hyperinflation than we're seeing. Is it any wonder Biden is up on stage pleading with Europeans for regime change in Russia? He's about to have masses of angry and starving people marching through the streets here at home, demanding answers." ~Goldilocks
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DirtTime Mentor

DirtTime

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This is what happens when a scared, mindless baboon is elected into office here. We're seeing how all those "sanctions" are working out. I mentioned just the other day that something like this was coming. I also stated that the people who voted this guy in are just as much to blame.

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Jeremy K Veteran

Jeremy K

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Just think,  this all started way back in 2013 with everyone's favorite dial tone Joe Biden getting involved with the IMF to transform the Ukraine into a more attractive place to bring in investors. Kamala was just a bit off on her explanation of what started the conflict.

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ApexerER Mentor

ApexerER

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3 hours ago, Grouse said:

When the devastating report on inflation was released showing the highest inflation levels in over 40 years, the morning network shows were doing anything to avoid covering it.

We have a state run media, no different than China or Russia.....

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ApexerER Mentor

ApexerER

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53 minutes ago, squirrelwhisperer said:

I figure they will somehow blame it all on Trump

I'll go one further...when the realize what a mistake Biden was, they will say its Trump's fault!

 

That was before they could blame Putin.....   It will be blame anyone but themselves even tho there isn't anyone else to blame...

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Grouse Grand Master

Grouse

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"The White House has had five separate lies on inflation. Their first lie was: It's not happening. Don't believe your eyes. There's no inflation. Their second lie was: Oh, it's transitory. Yes, it's happening, but it's transitory. Just for a moment. The third lie is, and this is from Ron Klain: It's a high-class problem. It's there, but it's a high-class problem. Aren't you lucky to have inflation? Their fourth lie was: It's happening, it's not transitory, it's not high-class, but it's a good thing. It's a sign of how great the economy is that you can't afford to pay for your groceries or put gas in your car. Then lie number five that every Biden apparatchik is repeating: Putin, Putin, Putin. They decided politically, let's blame this train wreck of a Biden energy policy on Vladimir Putin. You know what? The gasoline prices had risen 48% before Putin invaded Ukraine. As the sticker says on the gas pump, 'I did this.' Joe Biden did this." —Senator Ted Cruz (R-TX)

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