Russia’s Plan for a New World Currency

Fergus Hodgson, May 28, 2019

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Russia and China have been accumulating gold for years, but observers are at a loss to explain why.

Byron King, a geologist with Rickards’ Gold Speculator, argues they are planning for a new monetary system. The United States has weaponized the dollar to enact sanctions and police world trade, so naturally those superpowers want an alternative, he explains.

In his view, the days of the dollar as the world currency are numbered, and gold offers the best hedge against the looming shift.

Russians view the United States as an empire in decline, says Byron. (Premier.gov.ru)

Recommended Links

• Connect with Byron on Twitter and visit Agora Financial.
• “Why Is Russia Accumulating So Much Gold?,” Daily Reckoning.
• “China Builds Up Gold Reserves in Shift away from Dollar,” Asian Review.
• Meet Byron at the 2019 New Orleans Investment Conference!

If You Liked This Episode

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• “The Good News about the Next Recession,” Gold Newsletter Podcast.

Fergus Hodgson is Gold Newsletter’s roving editor. Follow him on Twitter and Facebook.