One ruble is now worth less than a penny… That’s 42% lower than where it traded versus the dollar at the start of the year. 
And it’s more bad news for Russian citizens. On top of Western sanctions on their country’s exports… the prices of imported goods they buy have gone through the roof. Now, you probably don’t care much about what Russians are paying for French wines or German cars. But the story behind the ruble’s slide teaches an invaluable lesson about what it means to “have money.” It’s a reminder of the difference between savings in the bank… and savings in our favorite sound money alternatives here at the Cut – bitcoin (BTC) and gold. And it points to strong rallies ahead in both alternatives. | Recommended Link | After 50 years of govt. secrecy… Teeka Tiwari exposes the truth Teeka just went on camera to reveal his biggest discovery since cryptocurrencies in 2016. It's something he believes could bring you over a century's worth of stock market gains in a matter of months… But only if you act before the federal government makes one major move… A move that Teeka says will finally expose 50 years of secrets, lies, and cover-ups. If you missed Teeka's announcement… and his recommended stock for playing this event… A replay is available for a limited time. | | | | |
Vladimir Putin first sent troops into Ukraine in February 2014… The next month, he annexed the Crimean Peninsula in eastern Ukraine. And it knocked the ruble down about 50% versus the dollar. The collapse was so bad, the Russian central bank had to spend $130 million of its foreign currency reserves to prop up the ruble’s value. And it showed Putin something important… If you invade your neighbor, the West may not send troops to stop you. But it’ll hit you with economic sanctions. That can hurt your currency. So you need a big “war chest” of foreign currency to stop any slide. Since then, Russia almost doubled the size of its foreign exchange reserves from roughly $340 billion to $630 billion. This is money Putin thought his central bank could deploy again to shore up the ruble’s value. But there’s just one problem… Russia’s reserves aren’t in banknotes in a vault in Moscow. They exist as account balances at central and commercial banks in the U.S., Europe, and Japan. And over the weekend, these countries’ governments blindsided Putin. They sanctioned Russian businesses and commercial banks. They also sanctioned Russia’s central bank. They’ve frozen its accounts… and outlawed transactions with it. Russia’s money is still there. But if its central bank can’t access it… it’s of no use to the country. Western governments have used these tactics against their own citizens… Look at what happened to Greeks in 2015… The government decreed that savers couldn’t withdraw more than €60 (about $66 at the time) a day from their banks. Big T's Crypto Prediction: "Get Ready for a New Crypto Shock!" Argentines suffered a worse fate at the turn of the millennium… I (Chris Lowe) experienced it firsthand. I was living and working there at the time. To stop a bank run, the government froze bank accounts as the currency cratered. And it banned withdrawals from U.S.-dollar-denominated accounts. The same thing is happening right now in Canada… But it’s even more sinister because it targets certain political groups. Last month, Prime Minister Justin Trudeau announced extraordinary emergency orders in his battle against the “Freedom Convoy” in Ottawa. They empower the Canadian feds to freeze the accounts of folks protesting vaccine mandates and restrictions. As Bloomberg reported… The emergency orders require virtually every participant in the Canadian financial system – banks, investment firms, credit unions, loan companies, securities dealers, fundraising platforms and payment and clearing services – to determine whether they possess or control property of a person who’s attending an illegal protest or providing supplies to demonstrators. If they find such a person in their customer list, they must freeze their accounts and report it to the RCMP [Royal Canadian Mounted Police] or Canada’s intelligence service, the regulations say. This isn’t a government’s economic warfare against an aggressive foreign power. It’s a government’s economic warfare against its own citizens. If you “have” money in the bank, you’re also at risk… A lot of folks don’t understand this. Bank deposits are liabilities of the bank. They’re IOUs – promises to pay you money when you go to withdraw it. But if your bank goes bust… or a powerful enough politician says that money is no longer yours… good luck getting it. That’s why I’ve been spreading the word on the need to own some bitcoin and gold since we first launched the Cut to all paid-up Legacy Research readers in August 2018. Bitcoin and gold are fundamentally different from government-issued currencies. They’re not someone else’s liabilities or promises to pay. They’re bearer assets. That just means he who bears them owns them. And they have value because they’re hard to confiscate. | Recommended Link | | $3 EV Warrant Play Now Live Three bucks. That's all it takes to invest alongside this legendary billionaire… With a 200,000% track record. (That’s not a typo.) Even better, you can do it in an unusual way for just $3. You could get a few. You could get thousands of them. It's up to you. But you need to move fast… Because Dave Forest revealed how this play… | | | -- | |
You can self-custody your bitcoin in a digital wallet app… All you need is a private cryptographic key to access and spend your funds. And nobody can get to your funds without this private key. Banks don’t come into play. Same goes for gold. You can keep gold somewhere safe at home. You don’t need a third party to access it. With gold, you have to lug it somewhere and transact with someone in person. With bitcoin, you can transact online with anyone, anywhere in the world, 24/7. But otherwise, they’re more or less the same. They’re money you can hold yourself that’s hard for the government to take from you. That makes bitcoin and gold great ways to store and protect wealth. And as economic warfare against governments AND citizens heats up, it’ll push more people into these bearer assets. That means great things for bitcoin and gold prices in 2022 and beyond. More on that next week… In the mailbag: “Bitcoin sounds like one of the biggest scams going”… Nomi Prins is the latest expert to join the Legacy Research team. She quit a seven-figure job on Wall Street to show everyday investors how to beat financial elites at their own game. And she agrees with us at the Cut that you don’t have to choose between gold and bitcoin… Gold and bitcoin shouldn’t be competitors dueling it out for a position in your portfolio. They have differences but are fundamentally perfect companions… They share one critical theme: They each represent a sound alternative to the fiat currency system. But not all of Nomi’s readers are ready to embrace bitcoin… I know a couple who bought thousands of dollars of bitcoin early on. Their holdings are worth a king’s ransom now. The bad news is someone stole their stash. They don’t know who, when, or how. They can’t get any answers or satisfaction. No money back! I won’t be investing in anything like that. It sounds like one of the biggest scams going. There are too many rules about how much you can cash in and when and where. I will stick with gold and silver (and maybe copper and miners). Keep up the good work with the newsletter. I like the other investments you have recommended. – David L. Though cryptos are probably here for the long run – if nothing else, CBDCs [central bank digital currencies] will ensure the use of cryptos – bitcoin itself may prove to be just a fad. I know, nobody thought ham radio was a fad in the 1970s or dot-coms were a fad in the 1990s. Now, ham is a geek niche and everybody has something-dot-com. Companies selling “dot-coms” as high-flying, exclusive tech in the ’90s all went bust in 2000. So I’m not ready to pin my fortunes on the cryptoverse just yet. – Jennifer C. Are you a crypto bull or a gold bug? Do you agree with Nomi that they’re “fundamentally perfect companions”? Let us know at feedback@legacyresearch.com. Regards, Chris Lowe
March 3, 2022 Like what you’re reading? Send your thoughts to feedback@legacyresearch.com. IN CASE YOU MISSED IT…
Get Instant Access Click to read these free reports and automatically sign up for daily research. | 
Post a Comment
Post a Comment