News that the Russians have invaded Ukraine has unleashed chaos in global markets.

Chaos Breaks Out In Global Markets
February 24
King World News
) –
 News that the Russians have invaded Ukraine has unleashed chaos in global markets. Russian troops moved by convoy from Crimea through the Black Sea and have landed in Odessa in an amphibious invasion of southern Ukraine. Russian forces were also targeting Ukraine’s anti-aircraft systems, including high precision strikes on Ukraine’s military as Russian military forces advanced into Ukraine.

Russian leader, Vladimir Putin warned the United States that in the case of external interference in the Russia-Ukraine conflict:

“Russia’s response will be immediate and will lead to consequences that you have never experienced in your history.”

Here is the battle map:

“Total War”
Some Ukrainians fleeing to Poland described the situation as “total war” after the Russian invasion intensified.

Ukraine’s President, Volodymyr Zelensky, declared martial law and said Russia was attacking his country’s “military infrastructure,” but urged citizens not to panic and vowed victory. “We are working. The army is working,” he says. “Don’t panic. We are strong. We are ready for everything. We will defeat everyone. Because we are Ukraine.”

Meanwhile the panicked Ukrainian Central Bank froze the FX market and is limiting cash withdrawals.

The EU has responded by freezing Russian assets in the EU and stopped Russian banks from accessing European financial markets.

China Weighs In
Regarding Russia’s invasion of Ukraine, China’s state-affiliated media China Xinhua News stated:

“When the U.S. drove five waves of NATO expansion eastward all the way to Russia’s doorstep…, did it ever think about the consequences of pushing a big country to the wall?”

“Your Move, Pal”
Jim Rickards, who has conducted war games at the Pentagon, stated: “Reports of amphibious landings in Odessa are interesting. Odessa produces 67% of the purified neon gas in the world. It’s used in lasers to make semiconductors. If we cut off Russia’s chips, they cut off the gas that makes the chips. Putin to Biden: “Your move, pal.”

“Making Russia Rich”
Rickards also asked: “Can anyone in the White House do fourth-grade math? The value of Putin’s gold reserves (2,300 metric tonnes) went up about $3.0 billion in the past 30 minutes. The so-called sanctions are making Russia rich.” Of course the value has gone much higher than that as gold has continued to spike, now approaching the $2,000 level.

Interestingly, Russia intervened in the currency markets as the Russian ruble traded to its lowest level in history vs the US dollar. Russia’s debt to GDP is only 18% while in the US debt to GDP is a staggering 133%. And as the commodities markets continue their upward surge, as Rickards noted, Russia is getting rich. Putin is a master chess player and his move to intervene in the currency markets appears to be well-timed.

Black Gold
Crude oil surged 8.5% to $100 on the heels of JP Morgan warning that crude oil would hit $150 if war broke out between Russia and Ukraine, which has obviously now happened. The surge in oil prices will bolster Russia’s finances. Bottom line, Putin is winning decisively on all fronts.

Also of importance …

Historic Deal Just Announced
Eric King:  “Fury just monetized 60% of its market cap with a sale of a non-core asset in a deal today worth Canadian $65 million dollars, on the cusp of one of the biggest gold bull market moves in history, with inflation out of control and war breaking out in Ukraine.”

Ivan Bebek:  Fury just announced that a vote has approved the sale of its Homestake Ridge project to Dolly Varden Silver, which is the most notable transaction for a junior gold exploration company in 2022. Fury will receive 76.5 million shares of Dolly Varden Silver worth more than $60 million as well as $5 million of cash. The total transaction values the deal at more than $65 million at today’s prices. On the back of this deal, Dolly Varden Silver just announced that Hecla Mining, which owns considerable ground around Dolly Varden, has written a check for $5.2 million for an additional 9 million shares of Dolly Varden Silver in order to maintain Hecla’s 10.5% ownership in the company.

Historic Deal
But for Fury this is a historic deal because the company is now positioned to drill three high-grade gold projects in Canada and it is now positioned for an aggressive year in advancing discoveries made in 2021. In addition to the asset sale we had great drill results in the last four months, but we also enhanced our leadership with the appointment of Tim Clark as CEO. Tim is remarkably experienced in capital markets, and now has the company positioned for a robust 24 months that will dramatically expand our discoveries while also drilling exceptional new targets where major discovery holes were previously drilled but never followed up on at our Percival target.

Enormous Upside
Obviously the timing of this announcement could not be better as the gold market is soaring today on the Ukraine news. But, Eric, and this is very important, Fury is grotesquely undervalued, and it has the most unique growth opportunity of high-grade ounces, and a massive war chest of marketable securities that will pave the way for an enormous expansion of drill programs in the coming years. The last 6 months have been exceptional for Fury, although it has not yet been reflected in our share price. I believe this $65 million deal will change that, positioning FURY’s share price for a great deal of upside in 2022 and beyond. Fury Gold, symbol FURY in Canada and the US.

To listen to Matthew Piepenburg discuss gold’s big breakout this week and what to expect next CLICK HERE OR ON THE IMAGE BELOW.

To listen to Alasdair Macleod discuss gold’s big breakout this week and what to expect next CLICK HERE OR ON THE IMAGE BELOW.

© 2022 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the articles is permitted and encouraged.