The misguided, incompetent foreign policy of this and previous administrations is just part of this story. Forget a bird in the hand is worth two in the bush. Gold in your hand is worth much more than gold in paper.
At the risk of being terribly PC, the cardinal crime of this century so far, a China man might put it this way:"Gold in hand, my son, worth much more than gold in bush."
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Since 2006, there has been a year-on-year increase that reveals a significant upward trend. The chart clearly reveals that Russia’s state policy of increasing state monetary assets, in the form of gold. Additionally, the Russian government has been converting state rubles into gold assets. From 2006 to 2015, Russia’s state holdings of gold tripled.
Within just the past year Russia has substantially increased its gold holdings
According to the Business Insider:
Currently, Russian gold reserves rank seventh in the world. It’s clear that there is a concerted effort by Russian authorities to build up the country’s gold reserves as part of a national strategy to negate the effects of economic warfare waged by the United States.
Rickards, in his 2011 book “Currency Wars,” theorized that Russia and China could combine their gold reserves to form a global gold-backed currency to compete against the U.S. dollar. Currently, Russian reserves stand at roughly 1,500 tonnes, with Chinese reserves totaling over 1,800 tonnes (according to China — it’s likely more), which would amount to a combined total of roughly 3,300 tonnes of gold.
The U.S. is about to lose overarching control of policymaking within the International Monetary Fund (IMF), thus the U.S. lockup on global gold is about to vanish, according to Business Insider.
At the risk of being terribly PC, the cardinal crime of this century so far, a China man might put it this way:"Gold in hand, my son, worth much more than gold in bush."
----
Since 2006, there has been a year-on-year increase that reveals a significant upward trend. The chart clearly reveals that Russia’s state policy of increasing state monetary assets, in the form of gold. Additionally, the Russian government has been converting state rubles into gold assets. From 2006 to 2015, Russia’s state holdings of gold tripled.
Within just the past year Russia has substantially increased its gold holdings
According to the Business Insider:
In July of this year, the central bank of Russia added 200,000 ounces of gold to its reserves. The one-month uptick in Russian gold reserves — 200,000 ounces — is approximately equal to the entire annual output of Barrick Gold’s Turquoise Ridge gold mine in Nevada.shtfplan.com/headline-news/russias-most-potent-weapon-rapidly-hoarding-gold-as-global-currency-war-is-upon-us_
At that same rate — 200,000 ounces per month — in a mere five months, Russia would add to state gold reserves the equivalent of the entire annual output of Barrick’s massive Goldstrike mine in Nevada.
Currently, Russian gold reserves rank seventh in the world. It’s clear that there is a concerted effort by Russian authorities to build up the country’s gold reserves as part of a national strategy to negate the effects of economic warfare waged by the United States.
Rickards, in his 2011 book “Currency Wars,” theorized that Russia and China could combine their gold reserves to form a global gold-backed currency to compete against the U.S. dollar. Currently, Russian reserves stand at roughly 1,500 tonnes, with Chinese reserves totaling over 1,800 tonnes (according to China — it’s likely more), which would amount to a combined total of roughly 3,300 tonnes of gold.
The U.S. is about to lose overarching control of policymaking within the International Monetary Fund (IMF), thus the U.S. lockup on global gold is about to vanish, according to Business Insider.
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