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Russia Continues Gold Accumulation as the West Sells

Gold Coins

Originally posted at Sprott Money March 24, 2016

Russia knows the game that the Western financial elites are playing. They know about the fiat Ponzi scheme that the US government is involved in and in control of through their entitlement as the reserve currency of the world. They know this, which is exactly why they continue to invest in precious metals, predominately gold.

Russia and China are two countries that know about Western financial manipulation and are not playing "nice" with the rest of the world. While they are not alone, they are the key players in the opposition to the control structure that currently dominates the global financial market. Although its power is waning, the West is still a formidable force that will be a major financial contender right until its self-destruction.

Therefore, it is no surprise to learn that Russia has once again announced that it has increased its total reserves of gold. Unlike Canada, who foolishly just dumped the last of their precious metals, Russia is thinking ahead and planning for the days when the US dollar will be supplanted by a more stable and honest form of money.

The future that Russia sees is undoubtedly one that involves gold in some way. One possibility, as many have alluded to before, is a basket of currencies and commodities, which will include precious metals.

In this scenario, countries that own large holdings of gold will be in key positions to take advantage and gain profit. This is one reason why the Central Bank of the Russian Federation recently announced that they have added 300,000 additional ounces of gold to their holdings in the month of February 2016.

This addition of gold brings the total "official" Russian holdings to a whopping 46.5 million ounces, making them a true power player in the gold markets.

This gold positive trend of Russia's is a long-term one and shows their true conviction in taking ownership of honest money. Russia, who has even outpaced China in gold accumulation, added a stunning 6,700,000 ounces (208 tonnes) to their holdings last year alone. This is in addition to adding 822 tonnes since 2009!

Sadly, the exact opposite is happening in the West, as can be seen from Canada's complete and utter disregard for the ownership of gold, which is something that their politicians will come to rue one day.

The power structure of the world is changing rapidly and political unrest can be found all over the world. Markets are on the edge and stability is difficult to find. One of the few sources of stability that still exists, as it always has throughout the eons of time, is the protection that gold offers in times of economic uncertainty. The question is: are you protected?

 


The views and opinions expressed in this material are those of the author as of the publication date, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.

 

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