Smart?

[barretcreek]

https://www.zerohedge.com/geopolitical/gotgoldorrubles-did-russia-just-break-back-west

Putin practices martial arts; is he applying them here?

Are we seeing what we want to instead of what is there?

[Vern Humphrey]

Okay, what is he buying gold WITH? If we're reducing the oil and gas the west buys from Russia, he has a real cash flow problem.

[togor]

https://www.zerohedge.com/geopolitic...reak-back-west

Putin practices martial arts; is he applying them here?

Are we seeing what we want to instead of what is there?

Remember Russia's economy is smaller than Texas.

Judo interpretation: Biden refusing to get USA/NATO too far out over their front foot, and it's the GOP hawks who aren't paying attention to their own balance.

Chess interpretation: Biden is not putting high ranking pieces into the middle of the board too early in the game, where they can get harassed by lower ranking pieces and knocked off pace.

Not sure there's much mileage in either interpretation but right now it is hard to fault the Biden administration's balance of action and restraint. I know it kills the people who are 100% invested in the idea that Biden is some kind of dotard. But they really are playing it smart in so many ways.

[togor]

Russians like gold as a hedge against the ruble taking a nose dive.

But using it as an commerce currency as opposed to an asset is a huge putz.

[RED]

The question is who is going to sell gold to Russia for rubles worth $1,500 when the spot price is over $1,950 US dollars. Who depends on Russian exports so much as to have to sell their gold to Putin for $.78 on the dollar.

[barretcreek]

I think Vlad has made it clear it's gold or no gas. Game of chicken.

[Vern Humphrey]

This will come back and bite him on the a$$. It will make it easier for the European countries to maintain the embargo.

[dogtag]

I thought he was dabbling in Bitcoin

[togor]

The question is who is going to sell gold to Russia for rubles worth $1,500 when the spot price is over $1,950 US dollars. Who depends on Russian exports so much as to have to sell their gold to Putin for $.78 on the dollar.

^^^^^^ Also this