While European Cabalists are bleeding, Russia takes another offensive. It just doubled its gold purchases.
Draghi could only print more worthless paper money he wish he had.
Gold prices have soared on the recent wave of global volatility with stock market crash in China and the Swiss national currency turmoil, exceeding $1,300-1,320/oz.
© REUTERS/ Leonhard Foeger
Russia Might Implement Gold Standard to Boost Economy: Expert
MOSCOW, January 19 (Sputnik), Kristian Rouz – One of the top-valued metal commodities and a universal monetary equivalent, gold, is heading to exceed the psychological threshold of $1,300/oz., as investors in Asia-Pacific and Europe are gravely concerned with the sudden fluctuations in the Swiss national currency’s FX rate and today’s crash in mainland China’s stock markets.
It is now clear that the internationally traded US dollar is backed by gold. The evidence for this is the fact that recently the dollar has changed in value against a basket currencies in a way that closely tracks how gold performed against these currencies.
An article definitely to be spread and read, especially by those who have not well understood the political economic and military strategy of Putin and today’s Russia. (SFP)
Executive and research director of the world’s leading gold broker Gold Core Mark O’Byrne stated that as fears grow over huge debt levels in the US, Japan and the United Kingdom, European governments are repatriating their gold from the United States.