WHY RUSSIA WAS BUYING GOLD AT A EVER FASTER PACE OVER A DECADE?

Years ago I published an article on Linkedin warning that #Russia was on a #gold buying spree for over a decade and that it could mean that #Putin had something in mind, a long-term plan...

Though it basically cooled down the purchases in the past two years or give and take, perhaps not to attract too much global attention...

This happened in parallel with the dumping of US Treasury Holdings.

Putin is a great strategist though lately may have been "mentally aged or rusted", we never know what he can "pull off his hat", see the very recent launch of referendums in Russia-occupied Ukraine. The world is wondering about the result of this strategy, somewhat similar to what was done in the 2014's Crimean referendum.

Usually, gold can be used as a trade payment proxy as in Iran and a few others did (tried), especially when the country is blocked from the SWIFT system. Afterall foreseeing global sanctions after the potential going into Ukraine (if the West kept "mermaid calling" it into NATO), the built-up of gold (the true money, not our fiat currency) would be a "life-savior"

At the end of 2021, it hit a record of over US$600 billion, the 5th largest Gold reserve in the world. However, the plan may not work successfully because the West has on the cards a freeze of its gold reserves abroad and/or a ban on the purchase of newly mined and refined gold.

But as I also warned recently about the upsurging risk of cornering a fierce "wild beast". The West is walking on "eggshells" and MUST be very careful in the playing of this global chessboard (as the late brilliant Polish-American diplomat/ political scientist, Zbigniew Brzezinski used to call it) because it can backfire in a disastrous way and cost the entire world a quasi-unprecedented catastrophe for several years.

We must beware... what-you-think?

#russia #ukraine #crimea #ukrainereferendum #annexedstatesreferendum #gold #rusiagold #ustreasuryholdings #fiatcurrency #putin #putinstrategy