They are stuck with their dollars. They fear, rightly, that the US will inflate its way out of its $19 trillion mountain of debt. China’s solution is to buy gold. If dollar inflation emerges, China’s Treasury holdings will devalue, but the dollar price of its gold will soar. A large gold reserve is a prudent diversification. Russia’s motives are geopolitical. Gold is the model 21st century weapon for financial wars.The US controls dollar payments systems and, with help from European allies, can eject adversaries from the international payments system called Swift. Gold is immune to such assaults. Physical gold in your custody cannot be hacked, erased, or frozen. Moving gold is a simple way for Russia to settle accounts without US interference.–James Rickards
Qatar, Iran, Russia, BRICS etc., etc. are moving away from the Petrodollar because of insane expenditures beyond tax revenues by the U.S. government. The politicos lack the political will to get the American house in order, but other countries no longer need to submit to the Khazarian Mafia banksters, and indeed will not. This is why the U.S. must fight a war against their adversaries very soon before even their slim technological advantage is eclipsed by Russia and China. The geopolitical chess board does not favor the idiots in our government. And another reason why no one really cares about Obamacare when the nuclear fallout hits these shores. It will not be the first thing on everyone’s minds. To think about it, immigration will be history because I don’t think the U.S. even has the capacity, let alone the technological capability, to defend the left coast and its communist citizens. $5 will get you $10 they simply sacrifice the Golden State. My advice: always watch the Jewish American community to see what they are up to. They’ll be the first to get wind of a coming war–which will be used to drive Jews to Palestine once again. Beyond that, Vladimir Putin has said on more than one occasion that when a fight is inevitable, it is wiser to strike first. And this coming war is unavoidable. Why I believe Russian TU-25 Bear bombers have been reconnoitering the West Coast to select primary targets.