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Russia Stock Piling Gold for a New Trading Currency

Commodities / Gold and Silver 2012 Sep 06, 2012 - 09:37 AM GMT

The markets in general paused before the ECB announcement tomorrow and the Non-Farm Payrolls number in the US on Friday.

Early today there was a violent 7.6 magnitude earthquake in Costa Rica, but fortunately the damage was contained, there were few deaths, and there were no tsunamis. This is good news.

FedEx warned last night which is an indication that the real economy is lagging. But in today's high powered money economy where the market is the economy, that may not matter in the short term. When the currency and the economy become disconnected, life can get wild on the tails of probability, and unlikely things can happen.

Why Is Russia Stockpiling Gold? - MarketWatch

Perhaps it is due to the effort by the BRICs to reconstitute the SDR, with some gold in the basket of currencies, as a major instrument for international trade when the US dollar falters as the world's reserve currency. It is the most important thing that no one is even discussing.

Big things are underway behind the scenes, the kind of sea change that everyone understands after the fact, but almost no one sees coming, especially those whose gaze is fixed from within deep wells of subjectivity.

"Look back over the past, with its changing empires that rise and fall, and you can foresee the future, too." Marcus Aurelius

The only certainty is change. Let's see what happens.

By Jesse

http://jessescrossroadscafe.blogspot.com

Welcome to Jesse's Café Américain - These are personal observations about the economy and the markets. In plewis

roviding information, we hope this allows you to make your own decisions in an informed manner, even if it is from learning by our mistakes, which are many.

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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