Report Wall Street Italia
The mountain of gold accumulated by China and Russia it is part of the two countries' strategy to distance themselves from international trade denominated in US dollars. This is the opinion of the precious metals expert Ronan Manly at BullionStar, than in an interview on the site RT explained that it is possible that the two countries are accumulating gold to tie their currencies to the precious metal and thus weaken the global dominance of the US dollar.
“China and Russia have accumulatedo aggressively their gold reserves in the last few 10 – 15 years“, he said, adding that just a decade ago the reserves of each of the two countries were around 400 tons. “Ora both countries hold overall 3.670 tons of gold” explained Manly, adding that “It is interesting to note that both Russia and China make their gold reserves public and refer to the precious metal as a strategic monetary asset. On the opposite front, Instead, the United States constantly downplays the strategic role of gold. “
According to Manly, for Russia and China gold is the only strategic resource capable of guaranteeing independence from the US dollar. Manly finally added that the two sides could presumably hold much more gold than they declare in their official reserves.
“If China and Russia together demonstrate that they hold more gold than the United States, that would be, also symbolically, a blow to the US dollar and the US position in the global economy”, concluded the expert.
In fact it seems so, that gold is kept fictitiously low cost. Question of financial speculation to convince the masses that gold “it's not worth it” !
Not just a banking system ,as big as the USA, were to give in, everyone ,they would immediately realize that gold is valuable, yes !
It would become the only trading system accepted everywhere. This is’ the reason why Russia and China, cunningly, they accumulate gold in quantity. Most likely , family’ now they have exceeded the quantity’ of gold held by the USA , both for himself, and for other states (Europeans) who leave the’ by submission….