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:
I posted several days ago when has anyone seen in Ft. Knox lately? Is our gold still there or goverment spending it or obama gave it away?
Gold is worth more than the Dollar
Stan Marciniak so barrels of oil have almost always stayed relative to the price of a barrel of oil. currently the price of a barrel of oil is the lowest since i think the 70’s. is it still running relative? if not do you know why? i been out of the economic scene and you actually know what your talking about.
Wezlee Murtaka I have no idea what point you are trying to make, here.
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Mark Nelson One must ask the true value of the Ruble and the Renmimbi. Compare those prices to the USD. Track the value of those currencies to the USD and tell me how they have moved in the last year or two. Then we’ll talk. If you think converting to a gold standard will help these countries and hurt the U.S., you’re mistaken. Shoring up their currency with the value of their gold reserves will fix the value of their currency – a dangerous thing to do for currency that is already grossly inflated.
I heard the US has no Gold Reserve anymore, that China and Russia are the leaders in that?
Stan Marciniak , I agree with everything you said . I would also ad our rising national debt is our single biggest national security issue . I’ve seen reports by experts claiming if Sanders was elected President and if he was able to implement all of his goals and promises our debt would double within 10 years . This is why a smaller government , a realistic tax code , and less job stifling regulations are so important .
It’s been rumored for several years that the so called ” new Silk Road ” running from China , thru Russia , and into Europe will be commodity based trading only with gold , silver , and oil being the most desirable of these commodities . It is common knowledge China has been stockpiling silver for some time . If this should come to fruition it’s essentially a declaration of war on the dollar . Now the big question is how much truth is their to the rumor and at what point do we have to take this very serious .
I guess WW3 will start soon.