According to the World Gold Council, Russia has more than doubled its gold reserves in the past five years. Putin has taken advantage of the financial crisis to build the world’s fifth-biggest gold pile in a handful of years, and is buying about half a billion dollars’ worth every month.
This is on top of gold accumulations by George Soros, John Paulson and Ray Dalio. None of these guys mess around, they are getting ready for a serious price inflationary crisis and its clear they want to be in gold, not paper money.
(ht Erik McCullen)