Italian press: Russia and China may open a "golden front" against the US dollar

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Russia and China, seeking to oppose themselves to the United States on the world stage, are trying to move away from the dollar in international settlements and are increasing the share of gold in their state reserves. Both Beijing and Moscow believe that gold will be able to save from the inevitable inflation, which affects even the most reliable world currencies.

The reserves of gold in the US state depositories are about 8200 tons, while Russia and China together have about 4200 tons of the precious metal. If we add to the last figure the volume of gold in the state reserves of Germany (3600 tons), then it turns out that the total amount of the RF, China and the Federal Republic of Germany is practically on par with the United States in this indicator.



At the same time, Moscow and Beijing, trying to get off the "dollar needle", have been replacing the American currency in their international reserves of payments with gold for five years now. Thus, both countries can actually open a "golden front" against the US dollar.

According to the journalists of the Italian edition ilsussidiaro.net, a complex role-playing game is developing between China and Russia, the goal of which is of paramount geostrategic importance in the world. Obviously, this game has another actor in the background, the most influential at the moment - the United States.

In 1971, the American-initiated Bretton Woods system collapsed when Richard Nixon temporarily banned the conversion of dollars into gold. As a result, the price per ounce (slightly less than 30 grams) of gold increased from 35 to 300 US dollars, which indicates the vulnerability of the American currency, on which the world is based. economic the power of America. Russia and China are slowly but surely undermining the hegemony of the United States, increasingly opting for the more reliable yellow metal over the out-of-print dollars.
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  1. greenchelman
    greenchelman
    0
    3 September 2021 17: 33
    These Italian girls are strange. They have their own 2451,8 tons of gold, but for some reason they dragged the Germans to the Russian Federation and the PRC (half of the FRG's gold still belongs to the Anglo-Saxons), who clearly did not ask them for this. The percentage of gold from the gold and foreign exchange reserves of Italy is 65,4%. Italian gold is stored mainly in bullion. In total, there are 95 pieces weighing from 493 to 4,2 kg. The Bank of Italy's gold reserve also includes a small share of gold coins - 19,7 tons. In the underground vault in the Palazzo Coch at Via Nazionale, 4,1, 91% of the ingots and coins are stored in Rome. Italy deposited the rest of its reserves in the New York Federal Reserve Bank of the United States in Manhattan (44,9%), in the Bern vault in Switzerland (43,3%) and in the Bank of England vault in London (6,1%).

    The French are not poorer than the Italians, but at least they are silent. France's gold reserve is 2436 tons. The percentage of gold and foreign exchange reserves is 59,9%. The vault of the main French bank Banque de France is located on the lower - minus eighth - floor of the basement of the bank's headquarters in Paris at Croix des Petits Champs, 31. A huge vault called La Souterraine was built at a depth of 29 meters below the level of the River Seine. Its vault is supported by 658 columns, and the walls are covered with tiled tiles. Part of La Souterraine is equipped with kitchens, sinks and refrigerators. In the event of a conflict, 3 people will be able to take refuge there. Gold is stored in bars on pallets, in boxes and cabinets. All of France's official gold reserves are located in Paris.
  2. Jacques sekavar
    Jacques sekavar
    +1
    4 September 2021 13: 59
    The economy of the PRC is closely linked with the United States, and the Russian Federation with the EU. The global plans and projects of the PRC are viewed by the SSHAs as a threat to their world domination.
    The main world currency is the dollar, and therefore the fear of using it to undermine the economy of any state, especially those declared enemies, is reasonable.
    Such a prospect destabilizes the economy and forces to build up gold and foreign exchange reserves not only out of speculative interests, to seek alternative options, to create a parallel monetary and financial infrastructure, which China is doing because any reserves may sooner or later run out and then there will be a big "kaput", and this is being considered sshasovtsy as a desire to undermine the existing world order based on US domination.