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Russia stockpiling silver: https://www.msn.com/en-us/money/markets/russia-set-to-boost-silver-reserves-in-major-precious-metals-strategy-shift/ar-AA1rGnJs


Silver is generally considered an industrial metal, not a reserve asset. Though, to be fair, Russia is largely cut off from the international financial system so their increased reliance on precious metals is hardly surprising. But in an environment where fiat currencies are declining in value, silver and even platinum could become de facto reserve assets at some point in the future.


Another thought: If Russia is gong to lose this war there will come a point when they know they are going to lose. An inevitable result of a Russian loss would be a Ruble crash that would take a long time to recover. It would not surprise me to see Russia using precious metals as a hedge against the decline of their own currency. If an ounce of silver costs 3000 Rubles today but will cost 4000 rubles six months from now, I would be buying today.


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