Russian Central Banker Highlights Gold Manipulation
"The world has come to a paradoxical situation in which the creditor countries are more concerned with the fate of the dollar than U.S. authorities themselves.
Thus, the evolution of the U.S. dollar's reserve role in recent years has given ground to some quite pessimistic forecasts, based on rational economic theory. It's no wonder that the number of people who have held assets in dollars and now wish to diversify them partly into gold -- the traditional shelter from inflation and political adversity -- is steadily growing."
No, the quote above was not made by a "crazy" gold bug, it was not made by a doom and gloom forecaster that feeds off the fears of his readers. This comment was made by none other than a Central banker.
Before you jump up and down and get too excited, take a breath and realize who made this comment. The above statement was just a snippet from a long presentation given by Oleg V. Mozhaiskov, Deputy Chairman of the Bank of Russia.
In this presentation, Mr. Mozhaiskov goes on to explain in great detail how he sees the current state of the gold markets and the role it plays in our "modern" financial system.
Mozhaiskov states to his audience that the gold market has been and is manipulated by the elite powers-that-be. He states how the current reserve currency of the World is fatally flawed and that gold will and must play a role in our system.
These statements don't come as a surprise to me, given the fact that Russia is one of the most active participants in the real physical gold market, a fact that he points out and makes no qualms about the matter, despite the smear campaign that the West and their puppets in the mainstream media has engaged against the reputation of gold.
Russia knows that a major change is coming down the road, they know that by making presentations such as this, and for their active participation in the gold market, that they have become a real threat to the current power structure of the world.
For this, they have suffered sanction after sanction and essentially been shunned by most of their trading partners in the Western world. Despite this, they have endured and continue to accumulate gold en masse.
They, along with countries such as India, China and others in the East, know that an end game is coming, and a global shift in power is on the way. The system as we know it, will look drastically different in 10-20 years.
The long-term planning of these countries has to be applauded, especially if coming from a Western country, such as myself, whose vision only extends quarter to quarter and has no long term plan for itself, its finances, or its people.
Still, they are not completely innocent, the writing may be on the wall, and they may see what is ultimately coming for the West, but they are not simply sitting around waiting for this day to come.
No, the East is actively engaged in trade deals "behind closed doors" amongst each other and are actively attempting to displace the US dollar from the throne it currently sits upon.
The ultimate question that everyone would like to know is "when will this change happen?" The answer to this is unknown, but that doesn't change the fact that a path has been set and plans are in motion for it to occur. The West has driven over the cliff and just like the iconic character Wile E. Coyote, all that needs to occur now is that we look down at the rubble at the bottom of the canyon.
#SprottMoney, #Nathan McDonald, #Russian Central Bank, #fate of the dollar Posted in: Sprott Money Blogs, Nathan McDonald