Russia’s Gold Holdings Have Tripled Since 2006

by Jay Syrmoloulos

The rapidly evolving geopolitical weapon brandished by Russia is an ever-increasing stockpile of gold, as well as Russia’s currency, the ruble.

Russia’s Gold Holdings Have Tripled Since 2006 | BullionBuzzAfter the failed reset in US/Russian relations, Washington began targeting entire sectors of the Russian economy, as well as specific individuals, meaning to impose an economic burden so severe that it would force Moscow into compliance.

Instead, it precipitated a Russian response of weaning itself off of the hegemony of the US petrodollar, and working with China to create an alternative to the SWIFT payment system that isn’t controlled by Western interests.

The Bank of Russia is clear about its monetary policy. There has been a build-up in Russia’s military arsenal, and a massive build-up of Russian gold reserves over the past decade. From 2006 to 2015, Russia’s gold holdings have tripled.

Russia’s gold reserves currently rank 7th in the world. There is a concerted effort to build up the country’s gold reserves as part of a national strategy to negate the effects of economic warfare waged by the US.

Jim Rickards, author of Currency Wars, theorizes that Russia and China could combine their gold reserves to form a global gold-backed currency to compete against the US dollar. Currently, Russian reserves (1,500 tonnes) and Chinese reserves (1,800 tonnes) amount to a combined total of roughly 3,300 tonnes of gold.

The US is about to lose control of overarching policymaking within the IMF, and thus its lockup on gold. If the Russian-Chinese alliance could exercise indirect control over the IMF’s gold reserve, it would allow for direct competition with the US.

The US is $20 trillion in debt, and eventually the US economy will implode. Fiat currency will be worth nothing. Hard assets, such as gold and silver, should be bought and taken custody of while there is still time to do so.

It’s not Russian nuclear weapons that people should fear, because the policy of mutually assured destruction voids any benefit of launching a first-strike nuclear attack. The true threat to the US is its economic house of cards, built on the back of a trade policy that puts the rights of corporations over those of people.

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