down, gold up. Seems most investors see bitcoin as a tech stock like Google or meme stock, not as a commodity / digital gold.
White House rants about "severe" economic sanctions on Russia. Back in the real world, Russia has 2,300 tonnes of gold and produces 10 million barrels of oil per day. Gains on gold = $10 billion so far. Gains on oil = $3 billion per month so far. It's all gain. Where's the pain?
JPM:"Gold could be useful as a long play near-term, the risk is that Russia sells some of their holdings to fund a longer-term military campaign. Previously, Russia sold virtually all of their US Treasury holdings over the last decade and moved much of that cash into gold."
White House rants about "severe" economic sanctions on Russia. Back in the real world, Russia has 2,300 tonnes of gold and produces 10 million barrels of oil per day. Gains on gold = $10 billion so far. Gains on oil = $3 billion per month so far. It's all gain. Where's the pain?
JPM:"Gold could be useful as a long play near-term, the risk is that Russia sells some of their holdings to fund a longer-term military campaign. Previously, Russia sold virtually all of their US Treasury holdings over the last decade and moved much of that cash into gold."