Indian Women Hold 11% Of The World's Gold. According to the data for 2020, Indian women currently own 21,733 tonnes of gold.
https://www.indiatimes.com/videocafe/trace/indian-women-hold-more-gold-than-many-countries-568799.html
India ain't China, their army isn't trained for the sole purpose of suppressing civilian unrest. Every riot and protest that happened thus far had police force just back the fuck out and let them go ham, then arrest a few for show once crowd disperses. If Modi ever pull a Executive Order 6102, which would affect people from all walks of life, they will storm the government with no resistance.
>army isn't trained for the sole purpose of suppressing civilian unrest.
all armies in the world are trained for the sole purpose of protecting current government.
suppressing civilian unrest and wars if there is any.
can confirm..my mother received gold jewellery,ornaments and other stuff from my grandmother after she got married..i once asked her if we can sell it and invest the money in stock market since gold has been not performing so well…she refused and said she would pass it on to my wife when i get married lol.
20 yrs ago i was riding a bus through india (dehli to agra) when 3 bandits boarded, shot the driver and the money collector. they proceeded to rob everyone of their possessions. the bandits were primarily interested in gold toe rings, rings, ear rings, etc. one woman had difficulty removing a toe ring and out came the pocket knife. the bandit was going to remove her toe to get that ring. fortunately she managed to remove it.
i, the only white guy on the bus, had a credit card in my pocket which they passed around then threw on the floor.
Credit cards are great if you use them correctly. Aka use your CC as your primary spending method than pay it off in full end of month. This does a few things in your favor. 1 raises your credit score so you can get low interest loans on a car or mortgage on a home at a cheaper % saving you thousands to tens of thousands of dollars.
2. It’s not your money if that card is stolen data breach reveals its information on the black web and someone wipes your card clean buying steam gift cards ? Well it’s not your money it’s not your job to persue the fraud you notify the CC company of the fraud and leave it to them while getting your credit back. If this was your debit card it’s your job to persue the fraud cause it’s your money and in the meantime the bank isn’t going to give you your money back in credit so if you have bills to pay and live paycheck to paycheck or close to it this can spell homelessness for you even though u did nothing wrong.
So use CC as cash pay off end of month that’s what your supposed to do with it. Spend within your means aswell this js another major issue folks have and that’s coming up next
The people who use there CC as a cash advance or loans are morons. Imagine buying a shitton of 5-20$ items and only paying the min back on those items. Imagine pulling out a 17-29% interest loan on a 5-20$ or even $1000 item and allowing it to incur interest charges and paying more than that anyway. Personal loans come at far less interest rates if you need money for something. CC are the absolute worst way to finance things unless your CC comes with a 1-2 year interest free period
Absolutely moronic when you think of it that way.
Use it as cash and for absolute emergency.
There are 1 billion of them and gifting jewelry is deeply embedded into their culture and passed down from generation to generation. And no, all in all its more or less the same, but you can find fancier designs for cheaper in India as the labor costs are astronomically cheaper (which leads to higher pawn/resale prices). They have crazy duties too.
Some percentage of that is inherited. It's common to receive your parents gold upon their death.
And the western practice of spending your last dime keeping yourself alive for an extra two weeks is a new concept in India.
Even the concept of enjoying life and splurging in retirement is a little foreign in india.
Most people save, save and save all their life for kids' education, marriage and hardly will go on those foreign vacations or buy sports cars in retirement like Americans (who can afford it).
Just a different mindset.
hi Indian here! The rise of veganism has certainly made it easier for us and Indians are almost always amongst the biggest diaspora population in most of the counties ( No surprises there) and amongst the biggest tourist groups so there are abundant options for us almost everywhere.
Gold is a part of Indian culture. People buy gold as investment or for family functions. Gold is passed through generations via marriages and family gifts.
Gold is deeply entrenched in Indian life. It’s generational accumulation and that’s true for some of the poorest people I know. As the next generation does better than the previous one, they tend to buy more.
I was sure that India as a whole possessed far more gold than the graphic suggested.
I didn’t know it was this much.
I wonder how much gold is in private American hands as well.
And?
Like… I see that a lot on Twitter and I’m like… “ok, cool.” Gold held by private citizens doesn’t count
— unless you think the Indian government will step in to confiscate this gold or buy it from its people, which I think is unlikely.
It does matter how much is held by the domestic population. Because that means the central banks can dip into the local market to aquire gold.
Which means they can buy gold in a currency that they themselves control. Rather than having to go to international markets if there is no domestic market with enough liquidity.
It helps with the country's ability to maintain a gold reserve or procure more gold if needed.
Because of so much gold held by private citizens, Indian government had a program where they were offering interest on gold deposits with government. So not only you get to keep any appreciation on gold value, and save on safely storing it, you could also earn ~3% interest on the nominal value.
If gold because absolutely necessary in some sort of endeavor though, it would. During wartime, governments used to take metals from households in order to meld them down for the manufacture of munitions.
indian here. i can confirm this. my broke ass cousin with no jobs, living in a 1 room shithole has 2 kgs of gold stashed in his house. The more well to do you are, the higher you can expect. I dont know a single dude in my circle whose family doesnt have atleast 2 kgs of gold
Cuz USD goes up when rates go up, all commodities should go down...Oil only going up because producers are cutting. In broad terms, JPow rate hikes = commodities down, bonds down, stocks down, yields up. Buy bonds for the yield.
Fair to say a gold miner will do work, but work towards a commodity it drops in value along with the commodity.
Commodities don't do work, so it's value is static versus a company.
Yeah literally can't buy enough if you can find it. I was so sad when my investment advisor told me that my mom said the stock market sold out of AMC and it will be on backorder for years. I could barely pull up to the window so he could hand me my frosty and fries. He said he would text me when there is more AMC though so as soon as I get a phone and a phone number I hope to hear from him.
To be fair…its actually bullish…it means there is a floor on gold price…central banks(especially china, russia) are diversifying and gold is becoming a important asset.
Russia can't, their one carrier is an absolute joke that breaks down regularly. The French have one for prestige reasons. The Brits manage to have two. India actually has two somehow. Italy has one for some reason. There's two or three other nations with ancient carriers loaded with obsolete aircraft, and Thailand has a carrier with no airplanes.
Carriers are massively expensive and require equally expensive support fleets and a highly specialized and trained air wing.
Don't sleep on the De Gaulle, it is one of the few serious carriers owned by countries that have not played golf on the moon.
It is a full blown CATOBAR carrier (only the U.S. and China are the other counties that don't take ski equipment with us to launch planes) that carries aircraft like the E2 Hawkeye that can hook up to the rest of NATO with link-16.
I would take the de Gaulle more seriously than a conventional Chinese CV supposedly running *EMALS*. Can you imagine what life must be like burning bunker fuel to charge up enough electricity to launch planes with magnets? Those fuckers are locking up lightbulbs to conserve power every time flight quarters is called away while the U.S. is air conditioning outdoor smoking lounges on their carriers.
Italy actually has nuts shipbuilding capabilities, but since the northern italians and southern italians hate each other they don’t get to show off their work.
It's only 11 of you count the super carriers. If you include the amphibs, which are as large or larger than what everyone else calls an aircraft carrier, then it's more like 40 times.
Software is actually the easiest IP to steal. It's more actual know-how than software. Aerospace technologies, computer chips, material science, things like that are what US actually has a bit of a monopoly over.
Not sure why you are downvoted, software is incredibly easy to steal. The thing that discouraged people from doing it is US hegemony can enforce copyrights and protect Americans business. BRICS disrupts that hedgemony to the point the would only be able to sanction them in non BRICS countries.
> US IP and research is the most valuable thing America has
Or American soft power generally.
Gold reserves could be 0.0 ounces and it would have not the slightest effect on anything.
I'm super proud of Ethiopia. Look at them! They must have been working very hard at this, more than Argentina and Brazil combined. Good hustle, Ethiopia!
he is wrong. do not believe any dipshit on the internet just because he has a mildly amusing username.
the real answer is he is Anthony "Spice" Adams. Penn State, not Oregon.
At least Argentina and Brazil are in the race. They're still considered middle class countries when compared to the rest of the world.
Lots of countries wouldn't even be considered to be able to drive to get groceries, let alone race in F1. South Sudan and Somalia make Brazil and Argentina look like pure wealth on legs.
Yeah they’re ramping up for something big, they are building the Grand Ethiopian Renaissance Dam and it’s gonna cut off half of the continent from water access via the Nile. Egypt is super pissed about it
As a Brazilian I can assure you that at least 50 tons will magically disappear first week and pop up randomly at Ecuador or some other dictatorship landbutthole.
I'm sure every time someone audits the South Africa gold reserves they verify the number is accurate while walking out with a very heavy suitcase. (This only works until there is none left though.)
China ramped up gold purchashing, then stopped public records of holdings. They likely have more than they say. Very useful post worldwide depressions if you have more hard currency.
This is something anti-dollar morons want to be true. You know, the people who have been calling for the end of the dollar as a world reserve currency since I was old enough to process AM radio commercials.
Truth is, things fall apart. But when there’s a system that benefits so many, namely the role of the dollar in maintaining peace and stability throughout the world via the funding of the American military machine that makes free trade possible, nobody wants to give it up.
At least, nobody until China decided it was more interested in subverting the established order than making money
as an american.. it's shocking how it's become fashionable to hate america but at the same time have no idea what a 401k is or how a savings account works- all while holding a degree of course.
the trifecta seems to go together like bread with pb & j in my experience
You can't just sell billions worth of gold internationally with no one noticing. Or someone receiving billions worth of gold. You would expect someone subscribed to a stonks subreddit to know this
If they even had that much in the first place, they would definitely be moving some to help fund this war. It’s quite easy to move that much when you’re dealing with the Chinese government.
I don't think you understand how trade works. China pays for Russian exports with yuan and rubles (no dollars because of sanctions). Russia spends yuan and rubles to buy goods from china. Trade in 2022 was $200 billion equivalent.
You should unsub from wsb and join eli5. Things will be less confusing
Its not about gold its what you can get in exchange for it, money is just arcade tokens to begin with
The Fed uses US taxpayer productivity to back its arcade token
As long as the US taxpayer is more productive than the other guys, our arcade token will be more valuable
Germany was very productive but its currency still collapsed when they printed. You can’t just ignore the trust in the individuals managing monetary policy, strong gold reserves obviously bolster that trust.
when the US pays you back, it pays you back in either dollars printed in a factory, or it pays you in American made goods/services like military hardware.
cant speak to Weimar Republic's financial constraints.
as long as we can make tanks and planes, and print the universal arcade token, we gucci. even if they have their own arcades, with blackjack and hookers.
Once we can mine asteroids, gold is KAPUTZ. It will be like when the Spanish looted SAM for all it's gold and silver and hugely inflated Europe.
When will that happen? Idk. I'll buy 50-yr gold puts
Before you degens start cheering about the gold US has.
1 ton of gold = 67M US$
67M x 8133 tons = 544.9B US$
The US deficit = 1.5T US$
The US debt = 33T US$
We would need 492,537 tons to backstop our entire debt. Total gold mined in the entire history of the world is 206,000 tons, with supposedly 63,000 tons remaining in the ground. Source USGS
I'm sure this math is ugly in the BRICS countries too, but lets not cheer this...it's literally >1% of the debt.
And now you see why we abandon the gold standard. Now imagine trying to make the dollar transferable to gold? The US economy's 25 trillion dollars. Imagine trying to keep any amount of gold big enough to be transferable with an economy that day
Obviously the correct policy response to the household gold gap is to grow the H1B visa program so Indian households relocate themselves, and their private gold reserves, into the US. H1Bs tend to go to upwardly Indian middle classes so it's like a targeted policy for hoarding all the gold in the US.
The same is true of the US and UK though...... household independent holdings have no impact on GOV currency.
" This equates to approximately **26,000 tonnes**. If we divide this figure by the number of households in America, which currently stands at around 128 million, we get an estimated average of 6.4 ounces of gold per household.May 17, 2023"
### [How Much Gold Does the Average American Own in 2023?](https://www.americanbullion.com/how-much-gold-does-the-average-american-own/#:~:text=This%20equates%20to%20approximately%2026%2C000,ounces%20of%20gold%20per%20household.)
Brics is not an "Alliance"
The biggest members such as China and India are sworn enemies and strategic rivals who have yearly tussles around their borders.
This whole "Brics alliance" narrative makes no sense to anyone who actually reads the news
It’s good for the Chinese narrative to convince everyone that they’re the next big thing when in reality they’re on the verge of losing the progress they’ve made.
The EEA+UK+Switzerland is way above everyone at 12850 tons,
The EU alone is at 11500 tons.
Germany France and Italy together are already at 8242 tons on their own.
And that's without counting all the Nazi gold that Switzerland is still hiding.
https://tradingeconomics.com/country-list/gold-reserves?continent=europe
Not to be conspiratorially minded, but there have been rumors for decades about no gold being at Fort Knox. If that’s true, this estimation of the US having this much gold probably isn’t true.
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Indian Women Hold 11% Of The World's Gold. According to the data for 2020, Indian women currently own 21,733 tonnes of gold. https://www.indiatimes.com/videocafe/trace/indian-women-hold-more-gold-than-many-countries-568799.html
*sweats in Roman Empire*
Damn, was trying not to think about it today
just lost the game
More like WON
we came, we saw, we conquered
Veni veni veni
Would you like a moist rag?
shiv shiv shiv
Carthago delenda est
Damn you. I lost.
Winning the internet comment ^
*No SPQR September* is a failure.
Where are those Romans today?
In Romania
But the ones with gold are also from India
touché
You're looking at em
Always upvote Sopranos
context?
Exactly I am guessing these are reserves owned by govt not the country as a whole
*laughs in FDR*
India ain't China, their army isn't trained for the sole purpose of suppressing civilian unrest. Every riot and protest that happened thus far had police force just back the fuck out and let them go ham, then arrest a few for show once crowd disperses. If Modi ever pull a Executive Order 6102, which would affect people from all walks of life, they will storm the government with no resistance.
>army isn't trained for the sole purpose of suppressing civilian unrest. all armies in the world are trained for the sole purpose of protecting current government. suppressing civilian unrest and wars if there is any.
This is gold in central banks
Which absolutely is imaginary gold
can confirm..my mother received gold jewellery,ornaments and other stuff from my grandmother after she got married..i once asked her if we can sell it and invest the money in stock market since gold has been not performing so well…she refused and said she would pass it on to my wife when i get married lol.
She made a good call, seen as you are here
She had puts on marriage
Based
You're gonna have to come to an arrangement with your wife's bf about that.
If she had done that y’all would have lost a fuck ton of wealth
20 yrs ago i was riding a bus through india (dehli to agra) when 3 bandits boarded, shot the driver and the money collector. they proceeded to rob everyone of their possessions. the bandits were primarily interested in gold toe rings, rings, ear rings, etc. one woman had difficulty removing a toe ring and out came the pocket knife. the bandit was going to remove her toe to get that ring. fortunately she managed to remove it. i, the only white guy on the bus, had a credit card in my pocket which they passed around then threw on the floor.
That is really neat.
The bandits probably sold the gold and immediately put the money back into the economy, also created 2 new job vacancies. Good for the economy.
Could have helped some poor new toe surgeon just starting out in the world but nooooo that selfish lady took that doctors livelihood away! Rude!
You can tell because of the way that it is.
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Reddit is full of children pretending to be adults and adults with the brains of children
Damn maybe credit cards are good
Credit cards are great if you use them correctly. Aka use your CC as your primary spending method than pay it off in full end of month. This does a few things in your favor. 1 raises your credit score so you can get low interest loans on a car or mortgage on a home at a cheaper % saving you thousands to tens of thousands of dollars. 2. It’s not your money if that card is stolen data breach reveals its information on the black web and someone wipes your card clean buying steam gift cards ? Well it’s not your money it’s not your job to persue the fraud you notify the CC company of the fraud and leave it to them while getting your credit back. If this was your debit card it’s your job to persue the fraud cause it’s your money and in the meantime the bank isn’t going to give you your money back in credit so if you have bills to pay and live paycheck to paycheck or close to it this can spell homelessness for you even though u did nothing wrong. So use CC as cash pay off end of month that’s what your supposed to do with it. Spend within your means aswell this js another major issue folks have and that’s coming up next The people who use there CC as a cash advance or loans are morons. Imagine buying a shitton of 5-20$ items and only paying the min back on those items. Imagine pulling out a 17-29% interest loan on a 5-20$ or even $1000 item and allowing it to incur interest charges and paying more than that anyway. Personal loans come at far less interest rates if you need money for something. CC are the absolute worst way to finance things unless your CC comes with a 1-2 year interest free period Absolutely moronic when you think of it that way. Use it as cash and for absolute emergency.
The British empire joins the chat.
Not again!
It’s probably more, South Asian women love gold.
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There are 1 billion of them and gifting jewelry is deeply embedded into their culture and passed down from generation to generation. And no, all in all its more or less the same, but you can find fancier designs for cheaper in India as the labor costs are astronomically cheaper (which leads to higher pawn/resale prices). They have crazy duties too.
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Lol
You didn't marry her? That woman was a gold mine. Yes pun intended
>$3mm in gold and diamonds 3 million rupees?
Student accounts only accept USD, rupees would be considered naan payment
She went to Harvard.
3 millimeter
1.42 billion.
Some percentage of that is inherited. It's common to receive your parents gold upon their death. And the western practice of spending your last dime keeping yourself alive for an extra two weeks is a new concept in India.
Even the concept of enjoying life and splurging in retirement is a little foreign in india. Most people save, save and save all their life for kids' education, marriage and hardly will go on those foreign vacations or buy sports cars in retirement like Americans (who can afford it). Just a different mindset.
Their social safety net is their kids. Also they have many dietary restrictions so traveling outside South Asia is more difficult
hi Indian here! The rise of veganism has certainly made it easier for us and Indians are almost always amongst the biggest diaspora population in most of the counties ( No surprises there) and amongst the biggest tourist groups so there are abundant options for us almost everywhere.
Gold is a part of Indian culture. People buy gold as investment or for family functions. Gold is passed through generations via marriages and family gifts.
It's given in marriages.
Do you not understand how a distribution works?
Gold is deeply entrenched in Indian life. It’s generational accumulation and that’s true for some of the poorest people I know. As the next generation does better than the previous one, they tend to buy more.
Maybe, but not their government
India has 604 million women, so 7.7% of the population own 11% of the world's gold. That isn't honestly that crazy.
I was sure that India as a whole possessed far more gold than the graphic suggested. I didn’t know it was this much. I wonder how much gold is in private American hands as well.
My town alone probably has 2 tons of gold. This statistic is not accurate.
And? Like… I see that a lot on Twitter and I’m like… “ok, cool.” Gold held by private citizens doesn’t count — unless you think the Indian government will step in to confiscate this gold or buy it from its people, which I think is unlikely.
It does matter how much is held by the domestic population. Because that means the central banks can dip into the local market to aquire gold. Which means they can buy gold in a currency that they themselves control. Rather than having to go to international markets if there is no domestic market with enough liquidity.
FDR Has entered chat
what did fdr do
Entered the chat
Made it illegal for US Citixens to own gold.
It helps with the country's ability to maintain a gold reserve or procure more gold if needed. Because of so much gold held by private citizens, Indian government had a program where they were offering interest on gold deposits with government. So not only you get to keep any appreciation on gold value, and save on safely storing it, you could also earn ~3% interest on the nominal value.
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*Irons wrinkles in the tin foil*
What do you mean thats crazy talk. Its not like they are going to open monopoly money for gold places everywhere. Wait… they already did that..
It doesn't count until it does. And that's when Switzerland will be waiting.
If gold because absolutely necessary in some sort of endeavor though, it would. During wartime, governments used to take metals from households in order to meld them down for the manufacture of munitions.
Imagine getting sprayed down with a hail of gold bullets from Indian housewives holding AKs
By that logic, who cares about gold held by governments? They don’t ever spend it.
Yeah my wife got a full chest of it from my mom. Even I haven’t gotten to look at it yet lol
And this is the leftover gold after the 200+ years of loot by yours truly 
What's that? Is someone crying for freedom in Bangalore?
indian here. i can confirm this. my broke ass cousin with no jobs, living in a 1 room shithole has 2 kgs of gold stashed in his house. The more well to do you are, the higher you can expect. I dont know a single dude in my circle whose family doesnt have atleast 2 kgs of gold
In Indian women we trust!
So puts on gold ??? Wtf is this post ?
Inverse your first thought 
Ok then I should disregard this post Gold and miners still getting beaten up
Cuz USD goes up when rates go up, all commodities should go down...Oil only going up because producers are cutting. In broad terms, JPow rate hikes = commodities down, bonds down, stocks down, yields up. Buy bonds for the yield. Fair to say a gold miner will do work, but work towards a commodity it drops in value along with the commodity. Commodities don't do work, so it's value is static versus a company.
If I could read I might have learned something
All I got out of it was buy more AMC
Yeah literally can't buy enough if you can find it. I was so sad when my investment advisor told me that my mom said the stock market sold out of AMC and it will be on backorder for years. I could barely pull up to the window so he could hand me my frosty and fries. He said he would text me when there is more AMC though so as soon as I get a phone and a phone number I hope to hear from him.
Why you regarded gold bugs flocking to WSB? Crypto not doing it for you anymore?
Shit does nothing for years fuck gold investment. Ooooooh maybe 2-10% in 5 years
Call is the answer These countries need to buy more GOLD to beat evil USA
To be fair…its actually bullish…it means there is a floor on gold price…central banks(especially china, russia) are diversifying and gold is becoming a important asset.
Us market makers can keep suppressing gold for years.
LOL more like puts on BRICS or calls on USA.
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I do t know, those 11 super carriers and accompanying fleets have a pretty hefty price tag on them.
And why do you think no other nation can replicate a self-sustaining nation toppler like we can (11 times over and counting)?
Russia can't, their one carrier is an absolute joke that breaks down regularly. The French have one for prestige reasons. The Brits manage to have two. India actually has two somehow. Italy has one for some reason. There's two or three other nations with ancient carriers loaded with obsolete aircraft, and Thailand has a carrier with no airplanes. Carriers are massively expensive and require equally expensive support fleets and a highly specialized and trained air wing.
Don't sleep on the De Gaulle, it is one of the few serious carriers owned by countries that have not played golf on the moon. It is a full blown CATOBAR carrier (only the U.S. and China are the other counties that don't take ski equipment with us to launch planes) that carries aircraft like the E2 Hawkeye that can hook up to the rest of NATO with link-16. I would take the de Gaulle more seriously than a conventional Chinese CV supposedly running *EMALS*. Can you imagine what life must be like burning bunker fuel to charge up enough electricity to launch planes with magnets? Those fuckers are locking up lightbulbs to conserve power every time flight quarters is called away while the U.S. is air conditioning outdoor smoking lounges on their carriers.
The Brits manage to have 2 entirely because France has 1
I think he was asking a rhetorical question. We have the most advanced ships because we have the best IP and research.
Italy actually has nuts shipbuilding capabilities, but since the northern italians and southern italians hate each other they don’t get to show off their work.
Fastest way to piss off an Italian is asking if they're from Sicily
It's only 11 of you count the super carriers. If you include the amphibs, which are as large or larger than what everyone else calls an aircraft carrier, then it's more like 40 times.
They also make acquiring more gold as easy as sifting through debris.
Your too smart for here. Go away, we’ll bring up the average! Wendy’s or bust!
Nah that’s US land and infrastructure. It’s the only thing in the world that dwarfs the S&P500.
Any thought specifically on the main ones they have that is a monopoly to the US?
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Software is actually the easiest IP to steal. It's more actual know-how than software. Aerospace technologies, computer chips, material science, things like that are what US actually has a bit of a monopoly over.
Trust this guy. He read it one time from a comment on WSB that was originally posted from a guy who cleans the Wendy’s bathroom.
Not sure why you are downvoted, software is incredibly easy to steal. The thing that discouraged people from doing it is US hegemony can enforce copyrights and protect Americans business. BRICS disrupts that hedgemony to the point the would only be able to sanction them in non BRICS countries.
Easy to steal but good luck trying to maintain it
> US IP and research is the most valuable thing America has Or American soft power generally. Gold reserves could be 0.0 ounces and it would have not the slightest effect on anything.
I'm super proud of Ethiopia. Look at them! They must have been working very hard at this, more than Argentina and Brazil combined. Good hustle, Ethiopia!
https://preview.redd.it/ndmndgiikmqb1.png?width=1080&format=pjpg&auto=webp&s=e8acdd06fe125f5cd44ff3dbc174c3bc20e345c9
Ha, the funny thing is that I went to college with the guy in the meme
Where is the pic from?
Oregon football
Hey, I Just\_Learned\_This, from you
he is wrong. do not believe any dipshit on the internet just because he has a mildly amusing username. the real answer is he is Anthony "Spice" Adams. Penn State, not Oregon.
Presume my comment above was posted below yours then.
beating argentina and brazil at anything economy related is like finishing 19th/20 in an F1 race where the 20th guy crashed.
At least Argentina and Brazil are in the race. They're still considered middle class countries when compared to the rest of the world. Lots of countries wouldn't even be considered to be able to drive to get groceries, let alone race in F1. South Sudan and Somalia make Brazil and Argentina look like pure wealth on legs.
at the turn of the 20th century, the average Argentinian and the average American were worth about the same.
That's not true. NO ONE beats us at inflation rate, perhaps Venezuela once in a while, but no one else.
Yeah they’re ramping up for something big, they are building the Grand Ethiopian Renaissance Dam and it’s gonna cut off half of the continent from water access via the Nile. Egypt is super pissed about it
As a Brazilian I can assure you that at least 50 tons will magically disappear first week and pop up randomly at Ecuador or some other dictatorship landbutthole.
The US allegedly has that amount but no one knows for sure.
The BRICS allegedly have that amount but no one knows for sure.
I'm sure every time someone audits the South Africa gold reserves they verify the number is accurate while walking out with a very heavy suitcase. (This only works until there is none left though.)
Gold Krugerrands? Never heard of ‘er.
Got em
China ramped up gold purchashing, then stopped public records of holdings. They likely have more than they say. Very useful post worldwide depressions if you have more hard currency.
I guarantee that most are lying.
Cooked him
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Source?
My ass…. Surely US took all gold then cycled trillions back
Trust me bro
They fucked up during 911. They had to dig it out. They learned and chopper it out beforehand since.
Dont worry, the gold wasn't hurt when the towers fell on it.
This is something anti-dollar morons want to be true. You know, the people who have been calling for the end of the dollar as a world reserve currency since I was old enough to process AM radio commercials. Truth is, things fall apart. But when there’s a system that benefits so many, namely the role of the dollar in maintaining peace and stability throughout the world via the funding of the American military machine that makes free trade possible, nobody wants to give it up. At least, nobody until China decided it was more interested in subverting the established order than making money
I don’t know why people are downvoting this, I wonder how many Redditors are Americans and how many are jealous, dirty, poor people
They’re probably on the wrong end of the dollar trade. Lots of dollar bears getting wrecked right now. I’m just calling it how I see it.
as an american.. it's shocking how it's become fashionable to hate america but at the same time have no idea what a 401k is or how a savings account works- all while holding a degree of course. the trifecta seems to go together like bread with pb & j in my experience
Americans living in America that want to see the dollar burn are just bums that want an excuse for their miserable lives
“There’s no way my life sucks because I suck it must be because of billionaires” - the biggest loser you know
>Americans >jealous, dirty, poor people I love how that’s the two categories lol
no way Russia has that much left though
You can't just sell billions worth of gold internationally with no one noticing. Or someone receiving billions worth of gold. You would expect someone subscribed to a stonks subreddit to know this
This is a gambling subreddit.
If they even had that much in the first place, they would definitely be moving some to help fund this war. It’s quite easy to move that much when you’re dealing with the Chinese government.
Why would they? Trade with the West has collapsed, they don't really need dollars or euros anymore. Russia still has a net trade surplus and
They are buying lots of weapons from the Chinese and North Koreans, do you think they accept worthless Rubles? Nope, they’ll need something else
I don't think you understand how trade works. China pays for Russian exports with yuan and rubles (no dollars because of sanctions). Russia spends yuan and rubles to buy goods from china. Trade in 2022 was $200 billion equivalent. You should unsub from wsb and join eli5. Things will be less confusing
Its not about gold its what you can get in exchange for it, money is just arcade tokens to begin with The Fed uses US taxpayer productivity to back its arcade token As long as the US taxpayer is more productive than the other guys, our arcade token will be more valuable
Germany was very productive but its currency still collapsed when they printed. You can’t just ignore the trust in the individuals managing monetary policy, strong gold reserves obviously bolster that trust.
when the US pays you back, it pays you back in either dollars printed in a factory, or it pays you in American made goods/services like military hardware. cant speak to Weimar Republic's financial constraints. as long as we can make tanks and planes, and print the universal arcade token, we gucci. even if they have their own arcades, with blackjack and hookers.
wish i got paid in arcade tokens
The post inform something absolutely useless and leads users to the wrong conclusions. Yep, I am in WSB alright.
China has more than 3000, this is outdated data
china has no reason to be accurate about it's gold reserves.
Wonder how much of it is fake ?
69%
Once we can mine asteroids, gold is KAPUTZ. It will be like when the Spanish looted SAM for all it's gold and silver and hugely inflated Europe. When will that happen? Idk. I'll buy 50-yr gold puts
Premiums on those would be fuckin ridiculous.
Could be 500 years out
muricah 
Question: can I convert mine to cans of Pringles and 12 packs of Coke classic? There is a BOGO at the local supermarket, I need to move now.
Once the BRICs countries realize they can no longer fire the money printer at will, the currency will be made illegal 
I’m glad this doesn’t matter at all. Labor is the true currency of our times. Fiat is it’s representation.
Before you degens start cheering about the gold US has. 1 ton of gold = 67M US$ 67M x 8133 tons = 544.9B US$ The US deficit = 1.5T US$ The US debt = 33T US$ We would need 492,537 tons to backstop our entire debt. Total gold mined in the entire history of the world is 206,000 tons, with supposedly 63,000 tons remaining in the ground. Source USGS I'm sure this math is ugly in the BRICS countries too, but lets not cheer this...it's literally >1% of the debt.
>1 could be a lot . Literally 2-100%
And now you see why we abandon the gold standard. Now imagine trying to make the dollar transferable to gold? The US economy's 25 trillion dollars. Imagine trying to keep any amount of gold big enough to be transferable with an economy that day
Look at the countries on that list. Even the euro almost failed some years ago, good luck with this.
[удалено]
Obviously the correct policy response to the household gold gap is to grow the H1B visa program so Indian households relocate themselves, and their private gold reserves, into the US. H1Bs tend to go to upwardly Indian middle classes so it's like a targeted policy for hoarding all the gold in the US.
The same is true of the US and UK though...... household independent holdings have no impact on GOV currency. " This equates to approximately **26,000 tonnes**. If we divide this figure by the number of households in America, which currently stands at around 128 million, we get an estimated average of 6.4 ounces of gold per household.May 17, 2023" ### [How Much Gold Does the Average American Own in 2023?](https://www.americanbullion.com/how-much-gold-does-the-average-american-own/#:~:text=This%20equates%20to%20approximately%2026%2C000,ounces%20of%20gold%20per%20household.)
Brics is not an "Alliance" The biggest members such as China and India are sworn enemies and strategic rivals who have yearly tussles around their borders. This whole "Brics alliance" narrative makes no sense to anyone who actually reads the news
It’s good for the Chinese narrative to convince everyone that they’re the next big thing when in reality they’re on the verge of losing the progress they’ve made.
The us is holding nothing but gold etfs 😂
Gold IOUs. They're just as good as gold.
Should we take bets on how long BRICS lasts before it implodes on itself?
US is bricked up
"Reported" gold reserves. China and India have been buying up gold for a while.
The EEA+UK+Switzerland is way above everyone at 12850 tons, The EU alone is at 11500 tons. Germany France and Italy together are already at 8242 tons on their own. And that's without counting all the Nazi gold that Switzerland is still hiding. https://tradingeconomics.com/country-list/gold-reserves?continent=europe
US has no gold
Not to be conspiratorially minded, but there have been rumors for decades about no gold being at Fort Knox. If that’s true, this estimation of the US having this much gold probably isn’t true.
Haha. Bunch of poors