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RE: Russia Buys MASSIVE Amount of Gold! Is This For A Gold Backed Super Currency?
First of all, I feel gold is undervalued (or cheap) due to price manipulation. So it's a value. Second, The petrodollar causes roadblocks for countries that don't want to deal with the US. If the USD is backed by nothing more than a trust that the US military will put a foot in your rear if you don't fall in line, and it's the only currency one can use to buy oil, a gold backed alternative to buy oil would sound very inciting. In conclusion, Russia and China are ready to offer an alternative to the petrodollar with a gold backed currency.
Yep @pendejo, that sounds like a plan. Hype up the war drums between US and NK, so that China can heroically step in to save us from extinction and the world opens their arms to the new World ruler. That is what Max Igan has been saying for some time now.
I'm inclined to agree with you on Russia, but I'm not sure about China. I think the fact that they're both buying up gold is merely a coincidence.
Don't get me wrong, I'm sure that they're working together on this plan, but I think China's gold is going into corruption as a way to circumvent (and sustain) their totalitarian state in numerous ways. Gold is a traditional bribe or 'bonus' in China, and it's only become more relevant.