The U.S. dollar can expect to take a pounding if Russian President Vladimir Putin carries out what appears to be a conversion of Russian currency to a gold-based standard.
Just this past September, Russia added another 1.1 million ounces of gold to it’s reserves, increasing the total amount of gold it possesses to a whopping 43.5 million ounces.
This theory is given even more credence by the fact that the massive country has added a combined total of 2.51 million ounces of gold to it’s holdings, marking the biggest gold reserve increase within a three-month timeframe in Russian history.
Check out the next page to see the increase in Russian gold reserves for yourself:
this is good
Not a chance. The military ramp up has taken a toll. Production and manufacturing at a standstill. All growth is stalled. Unemployment is rising, and the masses are restless.
They are far from any economic fanfare. It won’t happen because they lack the gold reserves to cover but a portion of their debt.
And oil, a very big piece of their GDP, is in the tank.
Oh man, China is way more poised to recreate the gold standard than we r. Theyve been buying up our gold forever. And we’ve also put up untold hectares of land in the west as collateral to what we owe the chinese. Scary prospect
more signs of end of time
odummer Put America On Her Knees,,, Now Because Of One Dumbass’s Idea,, With The Rest Of The Government Supports Him,,, We The People Suffer… Fire Them All
Iceland.
Are you kidding? China has the greatest debt to GDP ratio of them all. 1/3 of their country is illiterate. 500 million Chinese go to bed hungry. Pollution is so severe the life expectancy in urban areas is about 55. Industrial growth is negative. Unemployment has doubled in the last 18 months. The yuan continues to devalue, and global futures have hit the skids.
There is no way on God’s green earth China is anywhere near I introducing a gold standard. Their greatest asset are the U.S. treasuries they hold. They do not hold U.S. land as collateral. Bonds are issued on good faith. If China tries to devalue the U.S. dollar, they will only crash their own market further.
Iceland has a tiny economy of no significance.
Go ahead and do it. We’re screwed every which way but lose with Obamma Dickhead president; illegal muslim immi-GRUNTS, banks foreclosing on senior citizens for missing a payment. Grand ma & Grandpa will be living in their R.V. or a tent if things keep going down down down.
It depends on what value is put on gold. Right now, the oligarchs are keeping the price of gold and silver way down. Our comex is selling the same ounce of gold to 300 people..lol so I say a gold standard is posable.