Russia Ditching US Treasuries For Gold

Source: rt.com

Russia has radically slashed its stockpile of US Treasury bills in lieu of gold. Due to the uncertain turmoil in the detente among the world's leading countries, many countries are diversifying their asset compositions. Case in point, how many countries have repatriated their gold over the past few years.

Not that it is for certain but the movements among all countries tend to indicate that the world is about go through a significant change in how the world's future financial transaction will be handled. We are witnessing countries moving away from the old reserve currency as well as fiat currencies in general and moving towards new standards. In some cases, they are developing cryptocurrencies and others are moving towards precious metals.

What is certain although the timeline is not clear, is that we will soon see the downfall of the current reserve currency in some form. It is far from certain how this will affect the US economy. The economy is faltering as it is, it has lost its economic engine thanks to the past administrations offshoring the manufacturing base and generating a huge deficit.

Foreign countries are all aware of the tenuous situation and they are attempting to secure ties with the countries they believe will lead the new financial global economy. It is likely that the US politicians are also aware of the dire situation and this might be the reason so many of them are not seeking another term or are just out right retiring.