Russia And China are taking up late Col. Gaddafi's plan to Roll Out 100% Gold- Backed Currency

Russia and China have outlined plans to create a 100 percent gold-backed currency
system to replace the US dollar as the world’s dominant currency.

The Central Bank of Russia has been steadily amassing vast gold reserves since 2015 –accumulating 1,828.56 tons by the end of 2017 – making it the fifth largest gold reserve in the world.

Goldtelegraph.com reports: Russia has been aggressively increasing its gold reserves for a reason. It has seen the US dollar dominate as a global currency and is working with China to end the US/Western currency supremacy.

Their strategy appears to be working. Russia and China are in the midst of rumors of
introducing gold-backed futures to circumvent the U.S dollar.
The US dollar has had no gold-backing since 1933, nor has the US increased its gold

reserves for a decade. See chart below.

With speculation of Russia and China working on a gold-backed currency, a shift in
monetary power from the West to the East seems to be their ambitions. The situation

between East and West is exacerbated by recent tensions between Russia and the UK, since the alleged Kremlin poisoning of former spy Sergei Skripal and his daughter.

British Prime Minister Theresa May has ousted 23 Russian diplomats from Great

Britain. Geopolitical tension is once again, high.

It seems Russian may have tossed aside Das Kapital as its economic guidebook. Not
only is creating a gold-backed currency appearing more likely month over month, but
Russia has also brought inflation way down over the past decade. More importantly,
Russia continues to lower their national debt, while the US has been increasing its

debt to a record $21 trillion.

Russia’s financial strategy is making the country less vulnerable to volatile
geopolitics. Not only is it a significant player in gold, but it is also the world’s third-
largest gold producer, with the Central Bank of Russia buying up its supplies. During
the past decade, Russian has mined more than 2,000 tons of gold, with tonnage

expected to increase by 400 tons annually by 2030.

Russia and China understand the value of real, physical gold, a lesson that the US has forgotten while reveling in worthless paper currency.

If Russia and China establish a 100 percent gold-backed currency, it inevitably
changes the game in the West. The dollar will continue to devalue against gold at a
rapid rate.