by Jason Hamlin, Gold-Eagle:
Russia has added another 1,200,000 ounces of physical gold to their reserves during September, the largest month-on-month increase EVER.
Gold imports into India in September were a staggering $3.8 billion. This figure is almost double the $2 billion spent by Indians in August and roughly 5X the $739 million spent the previous year. The appetite for gold in India only continues to grow as prices have fallen.
This comes amidst increasing de-dollarization by both Russia and China. The United States is beginning to lose the power of printing the world reserve currency and the petro-dollar may soon be a thing of the past. Strategically, the weakness and potential collapse of the U.S. dollar is indeed the Achilles heel of a country that otherwise cannot be harmed militarily. The new warfare is economic, with two powerful adversaries and a number of BRICS nations lining up to throw off the shackles of U.S. imperialism and global dominance.
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