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Russian Gold Reserves Explode; The Long Term Plan to Dethrone King Dollar Continues - Nathan McDonald (22/02/2018)

From the archives of sprott money news

February 22, 2018

 

For almost a decade now, I have been highlighting an ongoing trend. A trend that first started as a rumble, but in recent years has turned into a deafening roar.

Russia and China have been pushed closer together—whether through sanctions, hostilities, or their common disdain for the West. On the surface, they have played "nice" and not stirred the pot too much. But behind the scenes, they have taken many steps to dismantle the long-term stability of the US dollar.

I have written numerous articles throughout the years showcasing the moves this "unholy" alliance has made. These actions include setting up trade settlements for oil and other commodities with their own currencies, thereby circumventing the US dollar. This is something we’ve never seen before.

They’ve also broken economic sanction after economic sanction, ignoring the feeble threats of Western officials. They know the West will never take any real action against them, as the results would be catastrophic to all.

In addition to these slights, they have steadily and rapidly accumulated as much physical gold as they can. To me, this is the greatest threat to the West, and it’s one you rarely, if ever, hear the Mainstream Media talk about.

This is a trend that shows no signs of slowing down. In fact, it is accelerating as the world becomes more geopolitically unstable with each passing day.

In the past, China held the title of the largest holder of precious metals between the two. Today, that has changed. Russia now wears the crown, and they intend on keeping it.

Russian "official" gold reserves are now the fifth largest in the world, having recently added a record 224 tons of gold throughout 2017!

This massive increase in gold reserves comes after already adding huge sums in previous years. In fact, Russia has added 576 tons of gold since 2015 alone! Proving they don't adhere to the Western dogma that gold is a "barbarous relic."

(Chart via Smaulgld )

These numbers only represent what Russia has "officially" reported, and that alone makes one take notice. However, I believe the real numbers are much, much higher.

Meanwhile, China has not been working as feverishly as Russia has in the past year. But they, too, have added to their reserves, and they show no signs of slowing down.

In my opinion—and the opinion of other precious metals experts even more experienced than I—these actions are too dangerous to ignore. They are part of a long-term plan to dethrone the US dollar as the reserve currency of the world.

Russia and China plan to overtake the dollar and then disable the tremendous power it allots the West. They plan to snatch that power and use it as their own, backing their new reserve currency with a basket of assets that includes, most notably, gold.

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About the Author

Nathan McDonald is a libertarian, entrepreneur and precious metals enthusiast. He has always taken a keen interest in free markets and economics since an early age, which naturally led him to become a true believer in precious metals and all that they stand for.

Nathan served eight years in the Royal Canadian Navy as an electronics technician, seeing the true state of the world, before starting his first successful business. He has since gone on to create a number of businesses, all of which are still in operation and growing.

In addition to this, Nathan runs a network of successful precious metals blogs, and a growing newsletter that has attracted readers from all around the world. He is a regular and highlighted writer for the highly respected Sprott Money Blog, which covers world events, geopolitics and of course precious metals.

*The author is not affiliated with, endorsed or sponsored by Sprott Money Ltd. The views and opinions expressed in this material are those of the author or guest speaker, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.

Comments

Max
April 28, 2018 at 8:35 AM
How can i put this on twitter ?
Doe John
May 31, 2018 at 3:55 AM
Superb!