Huge GOLD News Coming Out Of Russia! New All-Time Highs for Gold & Silver? - Andrew Maguire

Huge GOLD News Coming Out Of Russia! New All-Time Highs for Gold & Silver? - Andrew Maguire

In a startling revelation, senior analyst Andrew Maguire has claimed that BRICS nations potentially hold 80,000 tons of gold, a figure that dwarfs the US Treasury's reported 8,134 tons. This vast disparity in gold reserves could significantly shift the balance of global financial power, especially considering the lack of transparent audits for US gold holdings. The BRICS bloc appears to be leveraging its substantial gold reserves as a strategic asset.
Recent data from the World Gold Council supports this trend. The Reserve Bank of India increased its gold reserves by 5 tonnes in July alone, bringing its net purchases to 43 tonnes in 2024 and raising total reserves to 846 tonnes. A Senior Analyst at WGC noted, "The RBI has now added gold every month so far this year. Even as gold prices set new all-time highs, net purchases by central banks more than doubled to 37 tonnes in July, and demand is expected to remain strong over the coming months."
China, in particular, is seen as a pivotal player in de-dollarization efforts and potentially establishing a BRICS currency. Maguire suggests that the US approach towards China may backfire due to a perceived lack of strength in the US position.
The impact of these shifts is not lost on US political figures. Former President Donald Trump recently admitted that United States sanctions are hurting the dollar. During a public appearance, he stated he would lift all sanctions on Russia and Iran if reelected in November. This acknowledgment underscores the unintended consequences of weaponizing the US dollar, which has driven mass de-dollarization efforts over the last several years, primarily led by the BRICS bloc.
The BRICS alliance, consisting of Brazil, Russia, India, China, and South Africa, has made de-dollarization a top priority to reduce reliance on the US dollar and create a more equitable international financial system. The push for de-dollarization is most evident in China's recent financial maneuvers. Senior analyst Andrew Maguire stated that China's gold accumulation and currency strategy point to a significant global economic shift. The People's Bank of China has been quietly purchasing large amounts of gold using the renminbi, potentially leading to a faster de-dollarization process due to anticipated Federal Reserve rate cuts.
The impact of these efforts is already visible. Recent data shows that 53% of China's international or cross-border transactions are now conducted in Chinese Yuan, a stark contrast to a decade ago when this figure was close to zero. This rapid shift demonstrates the effectiveness of China's strategy in reducing dollar dependence and promoting the use of its own currency in international trade.

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[JackieBaker-ek]

Agree. Very likely we r headed for a decade long bear market in all western assets. It will be a period of geopolitical n currency changes. Within US this is the chance to do the long-needed economic n social n government reforms. If we succeed, US will be on a long-term sustainable growth path in a decade. But we must take the pain 1st n do the adjustments. From investing pov, sell all US, european equities n bonds. Go long Gold and Crypto. Go long emerging market I have managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to Adriana Jensen whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

[robertg.holmes]

We are all, friends and enemies. Share or steal the gold?

[absolute___zero]

if they shift from the dollar, it will be another currency, maybe cryptocurrency, but it won't be a shift to gold, because gold has to be mined, this makes it unusable as currency. An efficient currency is the one that has no cost for its creation. Value is created (and destroyed) every second on planet Earth, so if a new currency would match perfectly the creation and destruction of every asset (electronically with no cost), that would be an ideal currency. Probably the World will end up creating such a thing, but not within the next 10 years, I think;