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Is Russia trying to Short the Dollar by Buying Gold?

By   Follow Me on Twitter     Message Scott Baker       (Page 1 of 2 pages)     Permalink    (# of views)   9 comments

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Several recent articles breathlessly proclaim Putin's "Grand Strategy" of countering the West's -- particularly America's -- attempt to crush the Russian Ruble by flooding the market with cheap oil, is to buy up physical gold in record amounts.

This article, translated from the Russian original source: Investcafe, describes, accurately, how conventional military action against Russia will fail, as all other attacks against the "Bear" have failed in the past, and that nuclear preemptive strikes will also fail to take out enough of Russian counter-response capability, and that retaliation, possibly including other countries in Asia, will simply annihilate most life on Earth equally.

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The article notes that America's favorite tool of "color revolutions" will not work as it has in smaller and much weaker countries like Libya, Georgia, and most recently (though not talked about in this article) Ukraine (still ongoing).

Color Revolutions are a favorite tool of Western powers to change regimes
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It concludes then that there will only be a currency war (perhaps somewhat naively and optimistically) and that:

The Western economic establishment can see and understand the essence of the situation. Leading Western economists are certainly aware of the severity of the predicament and hopelessness of the situation the Western world finds itself in, in Putin's economic gold trap. After all, since the Bretton Woods agreements, we all know the Golden rule: "Who has more gold sets the rules." But everyone in the West is silent about it. Silent because no one knows now how to get out of this situation.

If you explain to the Western public all the details of the looming economic disaster, the public will ask the supporters of a petrodollar world the most terrible questions, which will sound like this:

How long will the West be able to buy oil and gas from Russia in exchange for physical gold?
And what will happen to the US petrodollar after the West runs out of physical gold to pay for Russian oil, gas and uranium, as well as to pay for Chinese goods?

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No one in the West today can answer these seemingly simple questions.

And this is called "Checkmate", ladies and gentlemen. The game is over.

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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:

Scott is a former President of Common Ground-NYC (, a Geoist/Georgist activist group. He has written dozens of articles for (more...)

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