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Russia Continues to Accumulate Massive Amounts of Gold

By admin 4 years ago 1089 Views No comments

Western central banks continue to dishoard their stockpiles of gold reserves. Currently, as it stands on paper, the United States, Germany, France and Italy are the largest holders of gold reserves in the world. Of course, this is only on paper. In reality, it is very likely that a great portion of these countries reserves has been rehypothicated into oblivion.

Following these four countries in total gold reserves is the ever more powerful Russia and China duo. Two countries who have made it quite clear, that they do not plan on going along with the Western Financial elites script.

Despite Western Central banks campaign against the value of gold. Central banks around the world have been net buyers of gold since 2010. A dramatic shift from the years prior.

Central_Banks_Gold(Chart via World Gold Council)

This shift in demand, is in large part due to the previously discussed countries, Russia and China, although many others have begun to participate. Smelling blood in the water, and the inevitable collapse of the US dollar.

Particularly outspoken has been Putin's economic advisor, Sergei Glazyev, who stated the following, "All freely convertible currencies are today under American control." Sergei Glazyev has also made it quite clear since that statement was made, that this is not a positive thing in his opinion.

Given Russia's increased hostilities with Western powers over the Ukrainian crisis, you can rest assured that they will do everything in their power to dismantle the current dollar structure that currently controls the financial world.

Perhaps this is why Russia has continued to accumulate vast quantities of gold. More so than any other country officially. They have continued their campaign of accumulation, which has seen them acquire 150 tonnes years to date.

This has resulted in gold accounting for 10.5% of Russia's total international reserves. 8.4% higher than the previous year. Making their gold holdings the fifth largest in the world, surpassing China.

China and Russia will continue to expand their gold holdings, they will continue to do what they can to replace the US dollar as the reserve currency of the world.

This will not happen overnight, it is a plan they have set in motion, a plan that you can already see unfolding. How they will ultimately get the world to abandon the US dollar for their currency of choice is yet unseen, but you can rest assured, that gold will play a part. At a much, much higher price.


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