The fall of the U.S. Empire drives China and Russia into bullion
By Peter Walden, News Editor
14 Mar 2016
Central banks are accumulating massive amounts of physical gold led primarily by Russia and China. Much has been said about Putin, but one can’t deny he is a master tactician.
Putin understands the average lifespan of an empire is 250 years and America has been at the top spot for the last 240 years. Putin and China both know America is failing and want to take advantage of is inevitable decline.
IMF gold purchasing data shows the two emerging powers have been the largest net buyers of gold for the last 8 years. In 2015 the two countries combined snapped up 14% of global mine production.
It would seem Russia and China are more than happy to add to their positions at current prices and continue to diversify away from the once mighty dollar. Russia has aggressively increased their holding and appears to be planning for the day the dollar is finally dethroned.
Both countries are increasingly conducting trade without the dollar and the opening of the Asian Infrastructure Bank could be the first step in the yuan becoming the world’s reserve currency. The trend is clear and the U.S can either embrace change and move in a new direction or join Greece and Rome into the history books.