Originally posted by All4OneDub100 billion is just chicken feed...

  1. dub
    28,670 Posts.
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    I don't believe Russia is doing this for any reason other than their own - they simply do not have faith in the $US maintaining its role of World Reserve Currency.

    In the last 2 years Russia has  -

    * completely rid itself of its holdings of US Treasury Bonds;

    * very significantly increased its large holding of physical gold;

    * been entering into contracts with other nations based on the Ruble or Yuan and not the US$

    * continued to shift its cash reserves out of US$.

    I don't believe they've done/are doing any of this to "impress" anybody at all.



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