Russia's Finance Ministry will auction large rough diamonds from state reserves, seeking funds amid mounting war costs and following a record gold selloff.
You know a country is in bad shape when they start selling off the treasure that supports their economy. It would be like Trump saying we need to sell off some our gold reserves in Ft Knox because he needs it for the war. If your war is costing so much that you are selling off the reserves, then it’s time to end the war.
Ft knox gold is mostly symbolic. Dollar hasnt been tied to its value nor total dollars available limited to the amount stored for 50+ years. Its mostly there to make people feel comfortable with the value of the dollar.
You know a country is in bad shape when they start selling off the treasure that supports their economy. It would be like Trump saying we need to sell off some our gold reserves in Ft Knox because he needs it for the war. If your war is costing so much that you are selling off the reserves, then it’s time to end the war.
Ft knox gold is mostly symbolic. Dollar hasnt been tied to its value nor total dollars available limited to the amount stored for 50+ years. Its mostly there to make people feel comfortable with the value of the dollar.