The world seems to have become a lot more complicated since 2020. We’ve made it through a global pandemic that threatened the health of everyone we know and love, but now we’re faced with a war which is threatening the entire globe in a different way.
Russia’s invasion of Ukraine, while devastating in and of itself, is not simply a conflict in one region of the world. This war has economic ripple effects that are causing inflation on a global scale.
As Russia’s actions are seen as absolutely necessitating a hard and fast response, the US and other countries have made unprecedented sanctions against Russia in an attempt at severe economic punishment against Russia’s invasion of Ukraine.
However, these sanctions are not only affecting the Russian economy. Much of the world’s oil and the world’s grain comes from this region of the world, which means that the punishment against Russia is actually a major consequence for us all.
We’re now seeing record high gas prices and we can expect the cost of things like bread, pasta, grains, and other goods to stay on the incline as well.
In times of such economic uncertainty many people turn to investing in gold and other precious metals whose value stays more stable even as the value of the dollar, the ruble, and other currencies fluctuates to unbalanced degrees.