gold

This is one way to get around draconian sanctions – an ‘old world’ approach to bartering your way towards growth and prosperity.

Last week, we were the first to report that Russia has all but fully liquidated its US Treasury holdings through the months of April and May.

(ZHE) — A few months ago SovereignMan.com’s Simon Black published a note explaining that major gold discoveries are shrinking. Simply put, mining companies are no longer finding vast, new deposits of gold to replace their aging mines. I quoted Pierre Lassonde, the billionaire founder of gold royalty giant Franco-Nevada and former head of Newmont Mining: If you look back […]

In a further sign the US is losing the dominance of the world’s economic system which it has enjoyed since the end of World War 2, Russia is massively divesting from US securities.
In April, Russia dumped $47 billion in US bonds – roughly half of the US debt it holds.
US President Trump’s escalating tariff war, plus ever-expanding US sanctions on Russia, could also be contributing factors to Moscow’s decision to increasingly ditch dollars.
In exchange, Russia is turning to an ancient and time-tested store of value: gold.

21st Century Wire says…
Gold bugs should be on high alert. We’ve warned of this financial development in the past, but many in the West still think they can get their hands on other people’s gold – this is no longer the case, from Russia, Turkey, Germany, to the Netherlands and beyond.

The USD has dominated the financial workings of the world’s trade since the Bretton Woods Agreement with most international trade being conducted in dollars. However, as the geopolitical centers of power shift, so does the financial. Nations around the world are restoring their gold reserves, and American isolationist policies are increasingly cutting the dollar out of major financial transactions, thereby cutting its influence. Analyst Claudio Grass discusses the matter with RT:

(MEE) — Turkey’s economy has been in a tailspin with an inflationary currency, but the country is using something rare to help stabilise itself: gold. In late 2011, Turkey started to allow commercial banks to use gold instead of the Turkish lira for their required deposits at the central bank. These deposits are known as reserve requirements […]

RT
The Central Bank of Russia keeps all its bullion at home, since only in Russia can its gold be completely safe, according to Anatoly Aksakov, the chairman of the State Duma Committee on Financial Markets.

After Venezuela, Germany, Austria and the Netherlands prudently repatriated a substantial portio

(ZHE) After Venezuela, Germany, Austria and the Netherlands prudently repatriated a substantial portion (if not all) of their physical gold held at the NY Fed or other western central banks in recent years, this morning Turkey also announced that it has decided to repatriate all its gold stored in the US Federal Reserve and deliver it to the Istanbul Stock Exchange, according to reports […]