A troy ounce of gold has for the first time exceeded $1500 dollars at the Hong Kong Exchange. Investors are turning to gold and silver as an alternative currency amid fears of an increase in the US state debt and the weakening of the dollar. Here in Russia we watch the gold make a slow but steady climb up the ladder. It is not a wild ride like we have seen in the past but a slow but impossibly steady rise that is ignored by almost everyone…
But in Russia and China they are hording gold as fast as they can. It seems that the warning signs are being ignored by the West except for the ones you all try to call crackpots. In the East it is seriously buy gold, then buy some more. In the East a crackpot is one who does not buy gold and silver. Also they do not believe in gold stocks or papers. It must be real gold and in your hand. For if it is not in your hand then it is not worth more than the paper it is printed on, in times of issues…
I remember in 2006 that Russia was silently stocking gold and silver. (Link) I remember in 2008 that Russian billionaires were moving into gold. (Link) I remember that in 2009 that Russia expressed a desire for gold to become a backing for world currency. (Link) I remember that Russia is increasing her gold reserves at a tremendous pace. (Link)…
All this time Russia, China, India and many many other countries are silently exchanging moderate amounts of worthless paper we call money, for gold and silver. They are doing this at a controlled pace and hoping to accomplish a change over in their holdings of foreign currencies before the world finances crash again. This is not well publicized and when it becomes publicized it will be too late…
I know that the holdings that Russia has of dollars is much less than a few years ago. The sting that happened when Americas finances crashed hurt Russia and she has decided to put a huge buffer between America and Russia this time…
Looks like we may get to see if Russia is better prepared than last time because things are looking real bad around the world as America and Europe struggle with debt that is only imaginable in horror stories and fairy tales…
Windows to Russia!