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This might make sense if you're a Russian to whom rubles are very important, but does it necessarily hold true for anyone else?I'm currently in Laos, the local currency is the kip. The value of an ounce of silver in Lao kip is about 6x higher than it was when I was here a few years ago. It has tripled since I was here just before the covid scare. Was that particularly relevant to you as an Australian? Or to a typical Russian? Absolutely, if you were Lao and put all your wealth into silver a few years ago you'd have done extremely well for yourself, but how relevant is that to anyone who isn't Lao?I'd certainly rather have my money in silver than rubles, but is any non Russian thinking about taking a long term position in rubles? Sure, Russia has a larger economy than Laos', but is it that big?
This might make sense if you're a Russian to whom rubles are very important, but does it necessarily hold true for anyone else?
I'm currently in Laos, the local currency is the kip. The value of an ounce of silver in Lao kip is about 6x higher than it was when I was here a few years ago. It has tripled since I was here just before the covid scare. Was that particularly relevant to you as an Australian? Or to a typical Russian? Absolutely, if you were Lao and put all your wealth into silver a few years ago you'd have done extremely well for yourself, but how relevant is that to anyone who isn't Lao?
I'd certainly rather have my money in silver than rubles, but is any non Russian thinking about taking a long term position in rubles? Sure, Russia has a larger economy than Laos', but is it that big?
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