Russia and China have been pushed closer and closer together, whether through sanctions, hostilities, or just their common disdain for the West. They have however on the surface played "nice" and not stirred the pot too much, while behind the scenes, they have taken numerous steps to dismantle the long term stability of the US dollar.
I have written numerous articles throughout the years, showcasing the steps that this "unholy" alliance has made. These steps have included circumventing the US dollar, by setting up trade settlements for oil and other commodities with their own currencies, something previous not seen before.
They have broken economic sanction after sanction, ignoring the feeble threats from Western officials, knowing that they will never act, or take any real action against them, as the results would be catastrophic to all.
In addition to these slights, they have also been steadily and rapidly accumulating as much physical gold as they can. To me, this is the greatest threat to the West, and unsurprisingly, is one that you rarely, if ever at all, hear the Mainstream Media talk about.
This is a trend that is showing no signs of slowly down, in fact, it is accelerating, as the world becomes increasingly more and more geopolitically unstable with each passing day.
In the past, China has had the title as the largest holder of precious metals of 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 off the back of adding already huge sums of gold in previous years. In fact, Russia has added 576 tons of gold since 2015 alone! Proving that they don't sign up to the Western dogma, that gold is a "barbarous relic".
(Chart via Smaulgld)
These numbers represent only what Russia has "officially" stated they have acquired and alone makes one take notice. However, these are only the "official" numbers and I truly do believe that the real numbers are much, much higher.
China has also been adding to their reserves and show no signs of slowly down, even if they have not been adding to their reserves as feverishly as Russia has in the past year.
In my opinion, and the opinion of other precious metals experts, who have much more experience than even I, these actions should not be ignored, as I believe they are part of a long term plan to de-throne the US dollar as the reserve currency of the world.
Their plan is to overtake the dollar and the disable the tremendous power that it allots the West. Their plan is to snatch that power and use it as their own, backing their new reserve currency with a basket of assets, that include most notably, gold.
- As first seen on the Sprott Money Blog
