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POSTED ON April 24, 2019  - POSTED IN Key Gold Headlines

This has become a monthly feature here a SchiffGold News – Russia buys more gold.

The Central Bank of Russia added another 18.7 tons of gold to its stash in March according to a press release last week. This boosts the country’s gold reserves to 2, 167.9 tons or 69,700,000 ounces. Gold now makes up about 18% of the Russian central bank’s reserves.

POSTED ON September 11, 2018  - POSTED IN Videos

Countries like Russia, China and Iran have been looking for ways to limit their dependence on the US dollar for years. More recently, we’ve even seen American allies looking to de-dollarize the world. Last month, German foreign minister Heiko Maas called for the creation of a new payments system independent of the United States.

It’s gotten to the point people are beginning to discuss a “post-dollar” world.

RT’s Max Keiser recently talked about the issue of the US weaponizing its currency with the head of research for GoldMoney.com, Alasdair Macleod.

POSTED ON May 31, 2018  - POSTED IN Key Gold Headlines

Are we in the early stages of a gold bull market? Incrementum thinks so and offers three key reasons for this assessment in its most recent In Gold We Trust Report.

At the moment we are at the turning point towards a gold bull market. The macroeconomic and geopolitical factors support this tendency. One of the things we notice across the bull markets of the past 50 years is that, even in its weakest period of increase, gold gained more than 70%. This record supports our optimism for future developments. From our point of view, stronger inflation tendencies or the abandoning of the rate-hike cycle in the US could trigger an increase in momentum of the gold price. We regard these scenarios as realistic.”

POSTED ON January 4, 2018  - POSTED IN Key Gold Headlines

The United States uses the dollar as a weapon to keep other countries in line, but it’s becoming a less and less effective strategy as other nations find ways to minimize their dependence on the greenback.

Pakistan serves as the latest example. Just one day after Pres. Trump blasted the country on Twitter, Pakistan’s central bank announced it was abandoning the dollar and replacing it with the yuan for bilateral trade with China. This is yet another sign of global de-dollarization.

POSTED ON September 28, 2017  - POSTED IN Guest Commentaries

Earlier this month, we reported a move by China that could foreshadow the end of the US dollar as the world reserve currency. The Chinese announced the launch of a gold-backed, yuan-denominated oil futures contract. The move potentially creates a way for oil exporters to circumvent US dollar denominated benchmarks by trading in yuan. The contracts will be priced in yuan, but convertible to gold.

More broadly speaking, Russia and China seem to be setting the stage to set up an alternative the international US dollar system. Many analysts believe the two countries are buying gold specifically to minimize their dependence on the US dollar. Russia and China are also reportedly moving closer to developing a broader gold-based trading system.

In an article originally published on the Mises Wire, Ronald-Peter Stöferle digs deeper into the possibility of “de-dollarization.”

The world is looking for alternatives to the dollar — and finds them more and more often.”

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