OutForARip@lemmy.ca to World News@quokk.au · 5 months agoRussia Starts Selling Off Its Gold Reserves to Fund the War Budget, Breaking a Long-Held Taboounited24media.comexternal-linkmessage-square3linkfedilinkarrow-up155arrow-down10cross-posted to: news@beehaw.orgukraine@sopuli.xyz
arrow-up155arrow-down1external-linkRussia Starts Selling Off Its Gold Reserves to Fund the War Budget, Breaking a Long-Held Taboounited24media.comOutForARip@lemmy.ca to World News@quokk.au · 5 months agomessage-square3linkfedilinkcross-posted to: news@beehaw.orgukraine@sopuli.xyz
minus-squareTar_Alcaran@sh.itjust.workslinkfedilinkarrow-up4·5 months agoIsn’t that what gold reserves are for? A last resort?
minus-squareWomble@piefed.worldlinkfedilinkEnglisharrow-up5·5 months agoYes, but also to use as collateral to borrow against. This is burning the furniture to stave off the cold.
minus-squareTar_Alcaran@sh.itjust.workslinkfedilinkarrow-up3·5 months agoWell, If you’re maxed out on loans, you might as well sell off the collateral. What are they gonna do about it?
Isn’t that what gold reserves are for? A last resort?
Yes, but also to use as collateral to borrow against. This is burning the furniture to stave off the cold.
Well, If you’re maxed out on loans, you might as well sell off the collateral. What are they gonna do about it?