gfp: See if you can find Zoltan Pozsar's article from earlier this month: "Gold to Soar When Putin Unveils Petrogold" ....with China recently coming to a 27 year deal for Saudi oil paying with yuan, and Russia insisting on non US Dollar payment for its resources, the hegemony afforded by the PetroDollar is coming to an end. A new trade medium is going to be hatched, and it will not allow a fiat currency based system. It will be natural resource based, or at least partially gold backed. That may be why Central Banks bought record amounts of gold last year. But if gold becomes the medium of exchange for oil then all bets are off as to how high that might mean for gold. The US is depleting it's own vital stockpiles of weaponry in their stupid proxy war with Russia, the consequences of which have been almost entirely negative for us, not to mention all the Ukrainians who were sacrificed on the altar of US Hegemony. Dementia Joe also drained the Strategic Oil Reserve in order to temporarily bring down oil prices leading up to the election. Another idiotic move. Every move Washington DC makes seemingly weakens the country in one way or another. Our weakness all but invites China to make a move on Taiwan at some point. And paper tiger America won't be able to do crap about it. It is hard for broke countries to wage great power wars, especially after spending 50 years destroying the country's industrial base. So in the face of this continuing shit show I think gold and silver have a nice tailwind.
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