Comment posted by AnonX
Hi BB,
If you really want to understand this essay, go back to Tom’s podcast here (video at bottom of page):
The Golden Ruble verses The Great Reset!
https://tomluongo.me/2022/03/07/media-iran-venezuela-great-resets/
Here is a synopsis of it that I did in a previous comment:
Q: What is Money?
A: Tokenized Energy.
And that integrates the scientific, economic and social definitions. The ability to store, transfer and do work.
So, if you have the energy (oil) you don’t need the tokens and/or you can insist upon how energy is tokenized. (i.e. a gold backed ruble)
SUPER TANKER ANALOGY
You can imagine that Davos/WEF, Biden and the West are in the bridge (fighting for control of the wheel), believing they run the ship …while, below deck, Russia and China (and all of the other nations that agree with them) are in the process of cutting off the bridge from the engine room and the rudders.
So, Russia has the “oil”, China has the “factories”. And the West has the “tokens” (stock certificates & paper money).
So, what Russia is doing by demanding payment in rubles is saying, “we don’t like your tokens” (USD or EURO). It is not an “oil embargo” but just them reasonably saying: “give us something of value for our oil, as you made your currency valueless to us”. So, in order to get rubles, the West will have to exchange gold for them (there is no point in the Russian Central Bank accepting USD or EUROs as they could have just sold the oil for them in the first place).
Furthermore, Russia said, to make it easier on you, we will discount the ruble when you exchange it for gold. So for example, say oil is going for $150/barrel in Saudi Arabia. If you have $150 usd you can buy 1 barrel of Saudi Oil. Or, you can exchange your $150 usd for gold then use that gold to buy rubles. So, assume the discount rate is 50% you can then buy 2 barrels of Russian oil for that same $150 usd. And what do you think people will do?
I hope that helps… if you got this far, take the time to understand what Tom is trying to say, it is really brilliant. IMHO
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https://tomluongo.me/2022/03/28/got-gold-rubles-russia-just-broke-the-back-of-the-west/