Russia Rapidly Stockpiles Gold Bullion As Fears Of World War 3 Intensify

Sunday, October 15, 2017
By Paul Martin

Sean Adl-Tabatabai
October 14, 2017

Russia has begun rapidly stockpiling gold bullion from across the world as fears grow of an imminent World War.

The Central Bank of Russia has been buying bullion at an unprecedented rate, according to Argentine financial expert Gabriel Rubinstein.

The stockpiling of gold is to protect the Russian economy in the event that World War 3 breaks out.

“Countries stockpile gold for strategic and defensive reasons; for instance, in case relations between nations are damaged and their currencies lose their value,” Rubinstein told Sputnik Mundo. reports: If there is such a situation, according to the expert, gold reserves would be the basis for a new currency or other valuable assets in the future.

“Gold, this eternal financial resource, has a real value if compared to other financial assets. The Russian government believes that it’s better to have more gold resources than dollars. Hypothetically speaking, if Russia holds tons of US dollars and the US wanted to damage its economy, this would be possible through currency manipulations,” Rubinstein said, adding that gold guarantees against such a scenario.

The Russian Central Bank has significantly increased the pace of its gold purchases. In the period between January and September 2017, the regulator bought 4.2 million troy ounces of the precious metal worth over $5 billion, 15 percent more than in the same period last year.

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