Two respected news sites with separate but connected stories outlined the serious trouble we are in (even if they don’t seem to recognize the gravity of their reporting).
First, it is reported on Bloomberg that Russia’s Putin has overseen the largest gold buying of any nation on the planet:
Putin Turns Black Gold Into Bullion as Russia Out-Buys World
When Vladimir Putin says the U.S. is endangering the global economy by abusing its dollar monopoly, he’s not just talking. He’s betting on it.
Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of the metal in the past decade, a quarter more than runner-up China, according to IMF data compiled by Bloomberg. The added gold is also almost triple the weight of the Statue of Liberty.
Look at the basis for the gold buying as described by Evgeny Fedorov from Putin’s party. It is clear that this is a play to protect against a currency failure. Now, look at this article from CNBC today:
Currency War? Here’s How to Hedge It With Gold
“We think a currency war will be the biggest story of 2013 when we look back on the year,” Patrick Armstrong, managing partner at Armstrong Investment told CNBC on Monday.
Full article: Putin Prepares for a Currency War that He Thinks (Hopes?) Will Collapse America (Global Economic Warfare)