Last sunday, May 1, I had the chance to talk to Bob Moriarty, from 321gold. That conversation can be viewed bellow
what we talked about, in short
Bob tells me that Russia now controls the price of gold, and other commodities. He believes that to be true because Russia recently pegged its currency to gold, by saying that it will buy gold at a fixed rate of 5,000 rubles per gram.
Later, Russia announced that it will only sell oil for rubles. Again, expressing the value of its natural resources in one currency, and thus linking the two things to each other.
To add to that, just recently, Russia has expressed intentions to start working on some type of a monetary system that pegs its currency to gold, and other commodities.
Although there have also been talks that the EU might stop buying oil, gas, coal and other commodities from Russia, Bob seems to strongly disagree with that and says that “the day the EU stops buying energy from Russia, is the day the EU economy colapses”.
Bob told me that eventually, this will drive the price of commodities – like gold & oil – much higher, as Russia is a commodity-centric country that would benefit from much higher prices.
Will it really happen, though? How will China & Japan react to higher commodity prices? Do bonds have something to do with all of that? Will we go into recession, depression, inflation, deflation, or all of the above? Bob had some interesting answers to these and other questions in this interview.
00:00 Important disclaimer
01:40 What is going on in the world, from a 30K ft perspective?
04:20 Is Russia going on a gold standard?
19:30 Does this influence gold, or the dollar more?
25:30 The problem with the USD
29:30 Does Russia want higher commodity prices?
34:00 How will China & Japan react to this?
36:30 Can the EU go without Russian oil & gas?
43:30 Are gold & gold stocks headed lower?
48:50 Is this move related to US bonds in any way?
50:30 How do we measure the dollar’s strenght?
51:50 What period in history does this look like?
57:00 Inflatio, deflation, stagflation, what’s coming?
01:00:00 What is Bob doing with his money?
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This video should not be considered investment advice of any sort. The contents of this video are general and impersonal in nature No trading recommendations are being made in this article. Be diligent and do your own research before risking your capital. The investment decisions of the author are based on their own investor profile. This includes, but is not limited to, their risk profile, their cash balance, and their debts. The author likely has a higher risk appetite than yourself. That’s why you may never assume anything on this website to be personally tailored to your situation. Resource Talks, nor the Author of this article are a registered advisory service and we do not give investment advice. Our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity or any other financial instrument at any time.
Please tell me what I did wrong.
Could I have asked better questions? More questions? Fewer questions? Did the guest make a mistake? Did I say something that wasn’t true? Do I need to get better guests? More guests? Fewer guests? Any and all criticism is highly welcome. Thank you and have a great day.