OFF TOPIC...financial...What does Russia know that we don't?

Quoted from John Embry

Embry also added: “I was absolutely shocked by the comments out of Russia last week from (Prime Minister Dimitry) Medvedev, where he advised all Russians to get their money out all Western banks because there was going to be a bail-in. This isn’t some sort of crackpot saying this. We are talking about the Prime Minister of Russia. I was astounded by that ominous warning.

When this all unfolds, I have believed for a very long time that this will lead to the largest transfer of wealth in world history by far. And those people that are in bank deposits, bonds, financial stocks, etc, are going to see their purchasing power virtually destroyed. And those who are invested in hard assets such as gold, silver and the high quality shares, are going to be the beneficiaries of this unprecedented and historic wealth transfer.

We will now see historic and catastrophic wealth destruction. It’s going to be something to behold, and investors who want to survive this financial holocaust had better be properly positioned

I wouldn't read much into this. Russia has done everything it can to destabilize western financial institutions, even going so far as trying to convince China to dump all their U.S. greenbacks and government bonds in the midst of our financial 2009 meltdown.

There is no reason to believe a word of what Russia says. If they say "Good Morning, lovely weather we're having," reach for your umbrella.

Look at the impact on the markets of Bernanke's alluding to "tapering" the money tree down.
These guy's love to masterbate their egos by emphasizing their position.
It's been a linear progression so far and this Fall China should become the leading consumer of all oil and particularly that from the Middle East.
There's going to be a new 800 # gorilla on the block that doesn't speak in petrodollars.
China has already entered into 11 agreements with other countries for commodities not traded in dollars including oil.
Russia is buying Iranian oil with gold already to avoid UN sanctions and they are painfullly aware of the common border with China.

I think the dollars ego is set up to be badly bruised but although a meteor's impact may be sudden , it still takes a long time to get here.

We are never going to be safe the world has not learned nor has mankind

LowBoy

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"Russia has done everything it can to destabilize western financial institutions"
O-o
Last 20 years Russia's givernment is a loyal lackey of Western financial elite. All profit from gas, oil going abroad of Russia. They invest into US treasure bonds like crazy. And you call this "destabilize western financial institutions"...

I would hardly consider Russia a U.S. lackey, Yuriy. Your current government's distaste for the U.S. is long standing.

Only thing I know for sure, is I'm gonna live untill I die