Russian, Chinese Gold Reserves To Cut Global Economy’s Addiction To Dollar

SPUTNIKNEWS – June 9, 2017: Russia and China continue to stockpile gold in a bid to cut their economies’ dependency on the US dollar in the future. Experts told Sputnik that if the dollar’s role as a global reserve currency is decreased the world will see radical political and economic transformation.

In recent years, Russia and China have actively been purchasing the yellow metal and have significantly enlarged their national gold reserves.

According to Philip Klinkmüller, a financial expert with Hopf-Klinkmüller Capital Management, there is a visible trend in Russia and China to buy more bullion to end their dependency on the US dollar.

The expert suggested that in the years to come global financial markets will see a significant devaluation of the American currency.

“According to our estimates, there will be a downward trend in the dollar exchange rate in the next 15 years. In the long-run, it cannot be guaranteed that the dollar will remain a global reserve currency,” Klinkmüller told Sputnik Germany.

“Russia wants to be more independent from the US dollar and act at global financial markets, using gold as a payment instrument. One of the reasons is sanctions imposed by the United States and the European Union over the Ukrainian crisis, including those in trade and investment,” the financial expert explained.

“First, China wants to use gold reserves to boost its national currency [the renminbi] which was added to the International Monetary Fund’s basket of reserve currencies last year. Moreover, China has a large foreign trade deficit with the US. By stockpiling bullion, Beijing wants to decrease its dependency on the US,” Stanzl said.  Link: Read Complete Article

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The Reason Behind The United States Mischief With North Korea – America-China Financial Wars

BATTLEFORWORLD – April 29, 2017: China and Russia are well aware of what is going on, and that the United States is a big paper tiger. And so China and Russia will at some future time bring their gold plan online (and this is the pending endgame) to neutralize the US mischief making of terrifying others into supporting their dollar Ponzi scheme at the barrel of a gun. Link: Read Complete Article

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