Tag Archive: Russia Triples Gold Reserves in Preparation for Full-Scale Economic War with the United States


on October 22, 2017 in World News

Russia Triples Gold Reserves in Preparation for Full-Scale Economic War with the United States

By Jay Syrmopoulos The Central Bank of Russia has more than doubled the pace of its gold purchases, and tripled its gold reserves—from around 600 tonnes to 1,800 tonnes—bringing its international gold reserves to the highest level since Putin became president 17 years ago, according to the World Gold Council. The impetus for the massive increase in Russian gold reserves is their desire to break away from the hegemony of the U.S. petrodollar and dollar-based payment systems. Currently, over 60 percent of global reserves and 80 percent of global payments are denominated dollars, according to James Rickards, author of...

By Jay Syrmopoulos The Central Bank of Russia has more than doubled the pace of its gold purchases, and tripled its gold reserves—from around 600 tonnes to 1,800 tonnes—bringing its international gold reserves to the highest level since Putin...

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