Comments by "Winston Smith" (@winstonsmith935) on "Russia-Ukraine conflict: Residents fortify Lviv against attack, united in defiance" video.
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Reuters published a factbox about Russia’s weight in international commodity trade this week, according to which, as of 2021, Russia supplied some 6 percent of the world’s aluminum, 4 percent of the world’s cobalt, and 3.5 percent of the world’s copper.
GOLD:Russia is the world's third largest producer of gold after Australia and China . If Russia and China reduce Gold Sales to the World, WHERE DOES THAT PUT THE PRICE OF GOLD?$3,000/oz
Means Russia and China can Manipulate the Gold Market.
Nornickel, the metals giant, is the world’s largest nickel miner, supplying 7 percent of global output but also the world’s largest palladium miner and one of the top platinum miners.
Russia also produces 4 percent of global steel output.
Russia is also a major producer of fertilizers, accounting for 13 percent of the global total. It is also, critically, the world’s largest producer of wheat.
Sanctions against its mining industry would, in all likelihood, lead to even higher commodity prices.
Yet besides metals—and oil and gas, which are the most obvious and most problematic sanction targets—What all this means is that for all the sanction threats the U.S., the UK, and the EU have considered in the past couple of months, their hands are, to a pretty significant extent, tied.
Unless, of course, Washington, London, and Brussels are ready and willing to add more price pain for industries they are prioritizing in their economic plans.
American Dollar is not backed by Gold Reserves, it's backed by Biden Paper Money. a USLESS Commodity. So is the Canadian Dollar.
Now you know why NATO can't stop Russia.
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