$GDX $GLD $SLV
I have been thinking about gold as a currency. To value it now we need to value what you don’t have with gold and what you have with a weaponised US 🇺🇸 economic/financial system.
Primary sanctions, secondary sanctions, asset freezes, sovereign-reserve freezes, asset seizure/forfeiture, dollar-clearing restrictions, correspondent-banking exclusion, foreign-exchange restrictions, tariffs, import bans, embargoes, U.S.-market-access exclusion, export controls, extraterritorial technology controls, Entity List restrictions, outbound-investment restrictions, inbound-investment restrictions, capital-market exclusion, shipping sanctions, vessel blacklisting, insurance/reinsurance restrictions, port-access restrictions, procurement bans, licensing/certification restrictions, loan/credit restrictions, pressure on third-country banks/refiners/traders/intermediaries.