RE: Ghana suggesting gold for oil26 Nov 2022 12:42
@chique - i was going to post something yesterday about GOLD, my biggest concern is how the price of it is manipulated, i would be happy to see the Petrodollar demise but i do not know how dedollarisation from Gold will play out..
As it stand the commodities price is based on trading of GOLD, this GOLD does not have to be in existance for it to be traded, only the company that is trading it must have the funds to buy it if the customer physically wants the GOLD.
I read somewhere that every GOLD bar produced in the world has been sold 4 times over, bullion websites selling online do not have to have stock of this GOLD, only the ability to buy it if required, if the financial system collapsed you would think in a situation of supply and demand the price of Gold would go up, but with it being currently priced in Dollars i do not know how if its possible at all to decouple GOLD from the Dollar with out a big drop.
With the CBDC on its way i feel a massive shake up in the financial system is coming...