In this video, I do another Freedom Minute update, this time on Russia's stockpiling of gold as they aim to be the world's second largest producer.
Gold and silver have been wealth insurance for thousands of years. They have fundamental subjective value based on scarcity, application use and demand. As the US world reserve currency is on the edge of crashing while the Federal Reserve attempts to prop up the doomed monetary system by raising interest rates, trying to avoid going negative when they inevitably have to drop interest rates dramatically, Russia sees an opportunity.
Russia has been selling US treasuries for years. Russia is in its 39th month of gold additions as the country secures their wealth.
Russia is the world's third biggest gold miner, but is now looking to double their gold mining making them the second largest gold producer in the world.
Russia isn't the only one. Germany repatriated the second largest sum of gold in history from the Federal Reserve last year. China has been stockpiling unthinkable levels of gold too. All while Canada and Venezuela scrape the bottom of the barrel. Canada already has nearly no gold left in its coffers. Venezuela is looking at running out of gold by next year.
China is of course attempting to create a global centrally planned cashless system, in firm competition against India. All while they attempt to go cashless, the top elites are stocking up on gold. The average, every day person should be looking at that as a signal of what's to come.
All fiat currency eventually reverts to its true value of zero. It always has, it always will going back to 1024AD in China. This time isn't any different. Individuals must decentralize and insure their wealth. Gold and silver aren't meant to be an investment. They insure your purchasing power. When the government is buying up large quantities of gold, they're getting ready for a crisis. This means you as an individual must prepare as well.
One cannot be dependent on the banking system and government to protect you when they depend on your dependence and servitude.