Good question, but realize many sovereign nation Central Banks are buying gold in unprecedented amounts, namely China and Russia. Why?Paper currencies are backed only by promises to pay ( USD) and have huge debt.
China will do as Russia has done, backed their paper with not only gold, but commodities. The day Vlad linked gold to oil and the Ruble, the Ruble increased overnight. Read what finance ministers across the globe recently stated….1) the USD was weaponized against its enemies, they want no part of it, wondering when they get sanctioned. 2) the USD is backed by nothing but a promise to pay, Russia has oil, commodities, grain, and little debt.
Vlad and Xi says : Checkmate. 60 percent of the world has had enough of the USD hegemony, and a western banking system mired in debt.
According to preliminary data, in the first half of 2021, the state debt of the Russian Federation increased by 1,483,105.4 million rubles, or 7.8%, and as of July 1, 2021 amounted to 20,423,507.6 million rubles (17, 7% of the projected GDP), ”the report says.
Keep in mind the figure is in Rubles. US debt is unsustainable at $30 trillion USD. Our debt is over 100 percent GDP.
“Good question, but realize many sovereign nation Central Banks are buying gold in unprecedented amounts, namely China and Russia. Why?Paper currencies are backed only by promises to pay ( USD) and have huge debt.”
BLAH, BLAH, BLAH. All the gold shills said all of that back in 2009 to 2011. How much gold did Russia have on hand when the war started? ONLY 132 billion, a piss in the ocean. 10 years of having gold bug sites yap about gold back currencies to dethrone the dollar and it was all complete garbage, fiction.