Wednesday, October 5, 2016

Russia Is Hoarding Gold

Byron King, The Daily Reckoning: Russia is hoarding gold at an alarming pace

Last weekend, CBS News broadcast a segment on 60 Minutes, titled “Risk of Nuclear Attack Rises.” The story described how new geopolitical tensions between Russia and the U.S. are rekindling the old Cold War. Both sides are increasing their respective nuclear readiness postures.

The 60 Minutes piece was sobering. It showed eye-catching imagery of B-52 bombers and ballistic missile submarines, along with informed narration by veteran defense reporter David Martin. It also included rare interviews with senior U.S. military officers who run the nuclear complex. All in all, the segment was well produced.

Read more ....

WNU Editor: Everyone that I know in Russia .... family, friends, business associates, contacts, etc. has a stash of gold somewhere. Even when the Communists were power .... the Kremlin's love affair with gold never ended. My prediction .... Moscow will continue to buy gold as long as the price stays where it is.


Bob Huntley said...

People who come from countries with histories of war and devastation know the value of gold even if at any given time things in the world look okay. I had a Chinese customer who opened a very small restaurant. I mean small. Two table and a counter with then stools. His food was good by basic. Every Friday he came into the bank to order one or two one ounce gold wafers. At that time gold was at a fixed price of US$36. per ounce. He put all his profits into gold.

B.Poster said...

The United States should learn from these countries. These countries are prepared for war. The United States is not. One of the starting points of wisdom is to understand what you are capable of and what you are not.

Whomever the next POTUS is they need to understand that the people they lead are not even remotely prepared to face down enemies with the strength and resolve of likes of Russia and China even if :on paper" they could. In fact, at this point, the United States would be hard pressed to defeat a country like Iran let alone major powers like Russia or China.