Russian Gold Reserves Explode; The Long Term Plan to Dethrone King Dollar Continues

Russian Gold Reserves Explode; The Long Term Plan to Dethrone King Dollar Continues

Written by Nathan McDonald, Sprott Money News
 

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.

 

Russian Gold Reserves Explode; The Long Term Plan to Dethrone King Dollar Continues

Written by Nathan McDonald, Sprott Money News

 

Check out these other articles by our contributors:
 

 

Ask The Expert - Rick Rule - February 2018

Silver's Key Resistance - Craig Hemke (20/02/2018)
 

The Fed’s “Catch 22” - Dave Kranzler (20/02/2018)

 

 

 

Comments

mily Fri, 02/23/2018 - 07:43 Permalink

Another poorly disguised article from the zi shprohtt gold dealer, just buy some gold coins and don't ask questions, XAUUSD ~10k any minute now

cpnscarlet Fri, 02/23/2018 - 08:37 Permalink

"In my opinion—and the opinion of other precious metals experts even more experienced than I—these actions are too dangerous to ignore...."

And since you and other PM experts have been WRONG for the last seven years, what am I supposed to do with this "opinion" of yours, Mr. Sprott?

 

cpnscarlet cpnscarlet Fri, 02/23/2018 - 09:50 Permalink

Given the amount of time this post has been up and the number of comments, I would say most people agree with my non-assessment of Eric's little article.

Don't get me wrong - I'm a stacker-delux, but no fan of most PM pundits due to their abject failure to prognosticate since 2011 (Martin Armstrong being the outstanding exception).

Keep stackin' bitches, but no one knows when the return of an honest PM price will happen.

In reply to by cpnscarlet

Herodotus Fri, 02/23/2018 - 09:28 Permalink

"...backing their new reserve currency with a basket of assets that includes, most notably, gold."

 

How do you redeem a currency for a basket of assets?  It is either redeemable or it is not.  If it is not redeemable, it won't accomplish the desired goal.