Russia and China Further Dump The Dollar – Buy Gold; Economic Collapse Coming?
by AMY S.
PrepperFortress.com
FEBRUARY 11, 2017
Economic Collapse Coming?
Russia and China dumped us treasuries and buy gold is appealing to Russia and China because its shields them from the US government’s ability to control the value of their holdings it’s no secret that Russia and China both share a growing appetite for gold.
The good news for gold enthusiasts is that China and Russia, the world’s No. 1 and No. 3 producers, are catching up to the big industrial countries in stocks of bullion in their official reserves.
The bad news is that, on present “steady-as-she goes” monthly gold accruals, it will take China and Russia — No. 6 and 7 in the world ranking of global gold reserves — about six years to draw level with the fourth- and fifth-placed countries, France and Italy.
Beijing and Moscow are building up gold stocks for a variety of reasons, ranging from unease about undue dependence on the dollar.
But how excited are they about us treasuries the most boring but safe investment which basically translates into we believe that everything will basically stay the same from the looks of it Moscow and Beijing no longer think t-bonds or a safe bet or the flower international interests as bloomberg zoo zhang explains Russia and China are selling and treasuries and buying up all the gold they can get their hands on as they sharply increase their gold reserves.
China and Russia are selling off their US Treasuries with their hunger for the metal coming amid a strict diet including excluding dollars goal is appealing to these countries because its shields them from the US government’s ability to control the value of their holdings goals a country list currency a continuing trend of reserve buildup in treasury sales might weaken the dollar and pressure gold prices higher.
China and Russia have officially added almost 50 million ounces of gold to their central banks while selling off more than 260 seven billion dollars and treasurer of treasuries yes for those who missed it Gold is appealing to these countries. Because its shields them from the US.
According to statistics compiled by the World Gold Council and other sources, partly using IMF data, total world gold holdings last year increased by 702.5 tons, compared with 176.7 tons in 2015, reaching 32,733 tons in December, their highest level since 2002 when central banks, particularly from developed countries, were engaged in a general sell-off. Much of the increase is due to last year’s statistical upgrading of China gold coverage.
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