GOLD/OIL via /r/wallstreetbets #stocks #wallstreetbets #investing


GOLD/OIL

Been hearing almost every other portfolio manager on CNBC talking about Gold. Even Mike Novogratz likes Gold, this surprised me. This got me wondering about buying oil with a gold backed currency. The idea of buying oil with another countries currency doesn’t make sense anymore as a government like Russia can collapse overnight at the will of someone else. Having your currency as reserve gives one nation too much power to bully others into following their rules. This leaves gold, the native currency of the earth. Its always held a value since the beginning of time and always will. The Saudi’s like gold so does China, India and Russia. The US has a fair amount and so does the EU collectively. My belief is that as the dollar loses is strength, gold will once again become the reserve currency of the world and the base for commodities trading/settlement.

Submitted March 17, 2022 at 11:32PM by NFTEURO
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