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Bill Holter’s Commentary

The physical market cannot accommodate this anywhere near current pricing…!

Petrodollar Shock: Russia Could Invert Part Of Its National Wealth Fund In Gold
December 29, 2019

In the past two years Russia has been quite explicit in its shifting preference between fiat, in the form of the world’s reserve currency, US Dollars and hard assets, i.e., gold: after liquidating almost all of its Treasury holdings in mid 2018, roughly around the time relations between the US and Russia hit rock bottom and started digging, Russian gold holdings continued to climb and just a few months back rose to a record, more than doubling in the past 4 years.