It is peradventure ironic that the American century was built upon having the most golden reserves inwards the basis next the devastation of ii World Wars, in addition to is ending because they gave upward reliance on a golden measure for trust inwards credit in addition to fiat currencies. And amongst the rising of Russian Federation in addition to China both economically in addition to geo-politically, the novel global fiscal powers convey risen themselves on the dorsum of the i truthful money.
Gold.
With all eyes on Russia’s unveiling their latest nuclear intercontinental ballistic missile (ICBM), which NATO has dubbed the “SATAN” missile, every bit tensions amongst the United States of America of America increase, Moscow’s most rigid “weapon” may hold upward something drastically different.
The chop-chop evolving geopolitical “weapon” brandished yesteryear Russian Federation is an e'er increasing stockpile of gold, also every bit Russia’s native currency, the ruble.
Recently, fiscal guru Jim Rickards, writer of the mass “Currency Wars,” wrote that “Russia is poised for a major comeback inwards its economy. Russian bonds in addition to stocks in addition to the Russian currency, the ruble, volition all benefit.” Rickards believes a “strong turnaround” is coming inside Russia, in addition to that this comeback volition do goodness the ruble.
Rickards, inwards his 2011 mass “Currency Wars,” theorized that Russian Federation in addition to China could combine their golden reserves to shape a global gold-backed currency to compete against the United States of America of America dollar. Currently, Russian reserves stand upward at roughly 1,500 tonnes, amongst Chinese reserves totaling over 1,800 tonnes (according to China — it’s probable more), which would amount to a combined total of roughly 3,300 tonnes of gold.
The U.S. is virtually to lose overarching command of policymaking inside the International Monetary Fund (IMF), so the United States of America of America lockup on global golden is virtually to vanish, according to Business Insider.
Imagine for a minute the distinctly existent possibility that Russian-Chinese alliance could practise indirect (or fifty-fifty direct) command over the IMF’s golden reserve of over 2,800 tonnes. Russian, Chinese in addition to International Monetary Fund golden combined would equal roughly 6,100 tonnes, in addition to would let for straight contest amongst the United States of America of America golden reserves, estimated at 8,100 tonnes.
Russian Federation in addition to China convey realized that the petrodollar is wielded yesteryear Washington every bit it’s weapon of alternative when opposing a well-armed state, in addition to clearly run into the writing on the wall – so working together to do a novel global fiscal paradigm. – The Free Thought Project
New Symbol of the Russian (Gold backed?) Ruble