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Morning Mr. Copper
That was my thought too – that it might actually help the miners. I guess it depends, especially if the G-7 countries actually need to replace that 90% worth of gold exports that Russia supplies them.
On another note, I’m seeing tons of ads for gold, and it is slowly getting a little notice on Financial TV. Normally I’d think this would be bearish gold, but Putin is slowly squeezing the gold market as well as oil. If the BRICS are buying or trading with Russia, why would they ever want to take fiat as payment again?
MetalsGuy – I would think that Russia would not be selling as well, but according to the article they export $19 billion just to the G-7. Who would have thought?
Well I don’t have to share this guess it’s okay but won’t be a habit cuz it’s personal but he’ll help bugs and golds been beaten down too but Robert said as far as gold Watch VIIIX it should hold this weeks low. The down trend could turn.
I think so too.. I hope.
G-7 nations to announce import ban on Russian gold (cnbc.com)
This headline could be said another way – “Putin says Russia will no longer sell gold for “made -out-of-thin-air” pieces of paper.
G-7 nations to announce import ban on Russian gold (cnbc.com)
Pardon my Grin… I’m a Space Cadet!
I had a ham radio contact with a live astronaut aboard the ISS on Saturday. Rare… rare.. event. Second time I’ve done it in 21 years.
@Buygold re G-7 Banning Russia Exports Of Gold. (money)
I think it should help other miners export more. Maybe it will help the shares too. More supply chain deficits too.
Another thought. Maybe the US UK and G7 countries want less Gold supply to make gold prices higher because they have a lot and may needed it when TSHTF. Its insurance. Think reversal. TPTB used to hold it down now maybe they want it higher.
“Of Russian gold exports, 90% was consigned to G-7 countries. Of these Russian exports, over 90%, or nearly $17 billion, was exported to the UK. The United States imported less than $200 million in gold from Russia in 2019, and under $1 million in 2020 and 2021.14 hours ago”
I don’t know
If Russian imports are banned that means that 19 billion in gold is taken off the market in the west. Is that a bullish or bearish development?
G-7 nations to announce import ban on Russian gold as Moscow sanctions widen
I got the story from a friend in Fla.
https://www.cnbc.com/2022/06/26/g-7-nations-to-announce-import-ban-on-russian-gold.html
My response:
Now THAT is a very interesting headline. I will probably enjoy reading it later. Funny last week, Pete Madalone Alberts pizza guy came up to me in the supermarket. He calls me Mr Gold. Him and his partner bought gold long ago on account of me. He’s happy with the $1800 gold and says to me, ” guess what? Russia won’t sell gold to us anymore.” So after breakfast I’ll read and analyze the story and thanks for sending it. I’ve heard nothing about this on tv or Newsday or the Gold Tent Oasis. God knows where Pete gets his news. I’ll have to call him if I can find his number. I rarely see the guy anymore maybe five or eight years ago.
Comment after reading the story:
Ok I read the story. Supposedly the announcement will be next Tuesday. Hopefully it will send gold higher past $2000 again. My thoughts on this? First of all, who the hell knew we were importing Gold from Russia?? I know the US Mint is required by law to use only buy American mined Gold. But the gov’t breaks the law sometimes. Maybe the importing was for jewelry or bank investments.
For quite a while the G-7 was being nice, helping to build up Russia, partnering on space travel etc. Ass kissing. And Russia being nice looking the other way re foreign G 7 investment in Ukraine. And buying Russia’s gold gave them paper money for their Gold, and kept our gold here in the ground. Often that happens with Oil too. Buy theirs with paper keep ours.
I personally think Putin liked Trump, and when he saw what the G7 and their media did to him, before during and after his four years, he realized how unethical and sleazy the west was and is divorcing them. When I see the word “Ukraine” in stories, to me its another name for Europe or G7. The attacks are on THEM nesting in Ukraine, but they call (the colony?) Ukraine because of the border they encroached.
Putin was in a sense forced to attack them, and said from the start…”I do not want to collapse the system, that we are part of”, so I guess he knew attacking so called “Ukraine” where a lot of G7 outsourcing went, (welfare bribery) would hurt supply chain exports to the importers from the newly developed area eastward of Europe. Moving Europe’s border eastward. Putin also said the G7 will splinter. I agree. Everything is in reverse. And no more “getting away with” thousands of old bad decisions. Like putting Abortion in the constitution, and allowing NYC to go against the constitution, and practically “outlaw” self-protection with a hand gun. Meanwhile 15 to 20 year old drug dealers from south of the border, with zero carry permits are having gun fights in the city.
During and before Trump, Putin must have realized the West is going broke, doing crazy things, and is run by a bunch of connivers. So he did what UK did and what Trump wanted to do. Break away from the status quo assholes. And since when is “Ukraine” the breadbasket of the world? That was always the USA. So obviously the USA or Europe were outsourcing farm or crop or gasoline etc production. Plus lots of other things.
Note:
Like I said long ago, just reverse what the fake news media says to achieve accuracy. It was probably Putin that said to G 7, “Sorry we are cutting you off, we are no longer redeeming Gold for your US paper dollars”.
No words
A few years back but just learned about it now. Of all people to get a award. Walsh’s daughter Megan turned whistle blower on how deep the tentacles of the swamp goes. That her father has some issues, police connections and cover ups.
National Center for Missing & Exploited Children – Hunter Biden accepts Hope Award on behalf of his brother, Beau Biden, from NCMEC co-founders John and Reve’ Walsh. Also shown is Manus Cooney, NCMEC board chair. | Facebook
https://www.facebook.com/missingkids/photos/a.10151856717871988/10154848211746988/?type=3
Buygold @ 12:50
Judging by the strength of the ruble it would seem highly unlikely that Russia would be selling its gold. More likely it is buying in preparation for its upcoming reserve currency with other Bric countries. Many Bric countries have been gold buyers.
Listening to Fox News
It appears that the G7 countries are banning imports of Russian Gold. Russia has been using called in in payments. I wonder if it will have any effect on Fiat currencies.
SOROS
is like Bill Clinton..he does things because he Can…not because he Should….He would sell his Grandmother if the opportunity presented itself ..His ilk is why we have LOCKS on doors !
free travel by corporations for Abortion
is Pandering of the worst sort….
namibia !!
recaf looks like it may be coming out of hibernation
UP 19+% in the last seven days.
Ipso
I’d like to see them pulled out of their beds at night and have their office and computers raided like they did innocent people.
Richard 18:51
Maybe, now watch company’s paying woman’s air fair to fly to another state to have a abortion. There going backwards and don’t even know it.
The time might come again where when a woman apples for a job they ask her if she has any children.
goldielocks @ 15:41
“Vax pushers-attempted murder” Exactly!
Buygold
Now you have me double checking Roberts charts. He’s pretty bullish on GS after this month but has lines in the sand you can’t ignore like most of us. Good news his Sept bottom chart is the Dow not gold.
Despite watching out for his fur baby he got fixed but is doing better now and eating. Thats how easily I can get side tract because it’s more hobby than anything “ poor fur baby” I remember thot with mine when she wouldn’t eat for a day so had to cut her meds down it was knocking her out, but he doesn’t. He’s posted more charts.
He goes by Thirdeye
Here’s his charts.
https://stockcharts.com/public/3267041/tenpp/3
Buygold
Ps I posted his wedge chart on the dollar too. It’s in that trading range. You probably know but depending on which way it goes. That is if it keeps the inverse between them which so far it is.
I was surprised at the yen who was pretty much mirroring gold for a long while and even wondered if it was leading it. Then I stopped trading didn’t not once Japan was having serious issues but gold held up.
Buygold
I hope I didn’t say that.
Fed said he’ll be raising the rates till September then a couple of times beginning 2023 lowering 25 pts then stop and then REVERSE probably the end of 23 depending if inflation is in control. So you better lock in that high 3-4 % interest rate.
Robert is one of these chartist I’ve seen and can’t remember if it was SM or Gold but a chart of his bottomed in September.
Then Fed came out with that comment the other day.
He gave me the okay to share his charts a long time ago so posted a few here,
Right now it’s hard to say and not concentrating that much cuz I’m mucho side tracked.
Keep a eye on the dollar chart though make sure it doesn’t breach beyond that double top. Just the last top. News keeps changing.
Ted Kaczynski will write a wildly popular book titled My Struggle, eventually let out prison, and will run for President
The same thing that will happen to Politicians, Bureaucrats, and Rentier landlord parasites
who all think they are hot sh*t living off of others’ work while sitting on their asses.
Mankind… having reached a pinnacle of technological achievement and theoretical understanding
unprecedented in the history of civilization has promptly impaled himself upon his sword…
I was hoping for something better from humanity…
It is human nature. Each generation needs to be educated, there is no collective intelligence to speak of.
Ted Kaczynski will write a wildly popular book titled My Struggle, eventually let out prison, and will run for
President as anti-technology candidate promising to ban all soul destroying technology.
We will return once again to an agrarian, small town nation.
When a small group of people owns and controls everything that power goes to their head and they abuse their chattel.
Most billionaires are genocidal maniacs bent on depopulation and their plan is unfolding right now.
We’re returning to the mean which is feudalism. There is a small percentage of the population which are literal psychopaths
who want not only to rule the rest of us, but to rule us in a manner where no laws apply to them. These people are firmly in charge
at the moment and they are making great strides to the second part of that equation. Part of that process is the dismantling of Western culture. They want good servants like the Chinese and the religious middle easterners who are easily controlled.