/biz/ - Business & Finance

Dismantling /PMG, BRICS and the Gold Standard once for all... give me a while this may take multiple posts depending how I feel. If I save one person from the many jews selling their shekels in this thread it's worth it.

Let's start by addressing the elephant in the room.
>pic related
And charts like this are making people nervous that these countries are going to stop using the dollar and start using gold and it will kill America!

EXCEPT…

The actual gold reserves held by China and Russia haven’t increased all that much. On the above chart, it’s the red bar. And while it has tripled/quadrupled (estimated), it still makes up less than 5% of China’s estimated reserve holdings (it’s held steady at 2.5% ish, China is just a growing country). Russia has surged to a whopping ~16% to ~17% of their reserves being gold. When you compare that to the modest holdings of the US (~75%) or Germany (~70%), you can see why the figures are alarming. Furthermore, they don’t use dollars in China or Russia. I dare you to try. China already has special drawing rights with the IMF (along with half a dozen currency issuers), so Russia and China are generally using the Yuan to trade in (because why on earth wouldn’t they?). Neither the Ruble, nor the Yuan, nor China’s domestic Renminbi are pegged to the dollar at all, and haven’t been since everything was pegged to gold in the 70s.

SARCASM aside...

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