China AND Russia are looking way ahead. China has been buying up gold for many years as has Russia. Back in 2010 China had nigh on 3500 tonnes of gold, (they were buying up gold to try and topple the Euro and replace it with the Yuan as International currency which failed because the Euro recovered) however the current figure sits at around 1,050 tonnes as at 2014.
Russia's current gold reserves sit at 1,168 tonnes and Putin has just bought another 55 tonnes, placing Russia WAY AHEAD of China in the gold store stakes, the reason for this being the Western Sanctions have caused the Ruble to fall.
Putin is TEN STEPS AHEAD of the IMF. America is reported to have 8,133 tonnes of gold but I doubt this very much as rumours have been coming out of Washington for years now that there is NO GOLD in Fort Knox, that it is just a cover. Given the current state of the American Economy I doubt that they have that much gold.
Further to building up gold stocks, Putin has remodelled the Internal Economy of Russia despite the attempts of the West to down him and discredit him.
China is and will be a formidable ally for Russia and vice versa, and between the two they WILL defeat the West. It won't happen overnight but I DO believe it WILL happen.
Believe it or not the second largest gold stores are held by Germany at close to 3,300 tonnes.
- by Frankie Lingham
May 21, 2014 article:
http://www.fxstreet.com/analysis/gold-investments-market-update/2014/05/21
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