Petrogold: Are Russia And China Hoarding Gold Because They Plan To Kill The Petrodollar?Quicklink submitted by Lance Ciepiela Permalink
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|Russia, the largest oil producer, and China, the world's largest oil importer, are hoarding gold, and there is evidence they intend to trade oil for gold in the future, instead of US currency. The Federal Reserve's out-of-control money printing has made the dollar unstable, and it is no longer useful for pegging the international price of oil, but the biggest impact of this change will be a dramatic rise in demand for, and thus the price of gold.|
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