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BRICS, Dedollarization, dollar, Donald Trump, geopolitical strategies, Gold, Golden tricks, Iran, oil trade, oil trade in yuan, petrodollar, Putin coins, Russia, Russia-China deals, SWIFT alternative, Syrian Patriots, VEB, vladimir putin, war on dollar, War Strategy, World Gold Council
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The World Gold Council has reported that the Central Bank of Russia has more than doubled the pace of its gold purchases, bringing its reserves to the highest level since Putin took power 17 years ago.
Russia’s desire to break away from the hegemony of the U.S. dollar and the dollar payment system is well-known. Over 60% of global reserves and 80% of global payments are in dollars.
The U.S. is the only country with veto power at the International Monetary Fund, the global lender of last resort.
Perhaps Russia’s most aggressive weapon in its war on dollars is gold. The first line of defense is to acquire physical gold, which cannot be frozen out of the international payments system or hacked…. … …
Russia is also part of a reported Chinese plan to install a new international monetary order that excludes U.S. dollars. Under that plan, China could buy Russian oil with yuan and Russia could then exchange that yuan for gold on the Shanghai exchange.
Now it appears Russia has another weapon in its anti-dollar arsenal.
The ultimate loser here will be the dollar. That’s one more reason for investors to allocate part of their portfolios to assets such as gold… … …
