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Alasdair Macleod: The real war is in currencies, not Ukraine
By Alasdair Macleod
GoldMoney, Toronto
Thursday, February 2, 2023
In the war between the Western alliance and the Asian axis, the media focus is on the Ukrainian battlefield. The real war is in currencies, with Russia capable of destroying the dollar.
So far, Russian President Vladimir Putin's actions have been relatively passive. But already both Russia and China have accumulated enough gold to implement gold standards. It is now overwhelmingly in their interests to do so.
... Dispatch continues below ...
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Company Announcement
Monday, January 30, 2023
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... For the remainder of the announcement:
From Sergey Glazyev's recent article in a Russian business newspaper, it is clear that settlement of trade balances between members, dialog partners, and associate members of the Shanghai Cooperation Organisation (SCO) optionally will be in gold. Furthermore, the Russian economy would benefit enormously from a decline in borrowing rates from current levels of more than 13% to a level more consistent with sound money.
To understand the consequences, in this article the comparison is made between the Western alliance's fiat-currency and deficit-spending regime and the Russian-Chinese axis' planned industrial revolution for some 3.8 billion people in the SCO family. China has a remarkable savings rate, which will underscore the investment capital for a rapid increase in Asian industrialisation without inflationary consequences.
With a new round of military action in Ukraine shortly to kick off, it will be in Putin's interest to move from passivity to financial aggression. It will not take much for him to undermine the entire Western fiat-currency system -- a danger barely recognised by a gung-ho NATO military complex. ...
... For the remainder of the analysis:
https://www.goldmoney.com/research/a-tale-of-two-worlds?gmrefcode=gata
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