Gold Eagle: Russia steals hundreds of tons of gold from the West

US officials always speak positively about the state of US economic and financial sector. They are proud that the US dollar is still considered world's strongest currency, and the financial institutions of the United States are cited as a stronghold of reliability.

However, there is a topic that American politicians and officials are reluctant to discuss. This is gold, Gold Eagle publication noted (the publication specialises in news and analysis on the precious metals markets).

The authorities of the United States and other Western countries see gold and silver as direct competitors of any fiat currencies (the currencies that are not backed by any tangible asset, such as gold or silver).

Both the United States and its allies systematically discredit gold and silver to thereby support its fiat currencies and attract new loans.

While Western governments are trying to convince the world that gold is a useless financial instrument, Russia and China are acting by purchasing precious metals, Gold Eagle said.

Russia and China understand that it will be impossible for the US to repay its enormous debt. The West has been trying to drive global gold prices down, while Russia and China are taking advantage of that strategy.

Moscow and Beijing plan to deprive the West, including the United States, of precious metals. They are actually stealing these resources from the Americans and their allies. This may create problems for Western governments, especially in the context of debt coverage.

The basic idea is that Russia and China realise the real value of gold and see fiat currencies such as the dollar and euro as "poker chips" that one can not cash out at the end of the game.

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Author`s name Petr Ermilin
Editor Dmitry Sudakov