Published: 2019.03.13. Gold standard for Russia, China and Turkey

Gold standard for Russia, China and Turkey - Preview

As is known, Russia, Turkey and China regularly buy gold for their international reserves. Moreover, all three countries are allies. Potentially they have the opportunity to create a “gold standard” and impose it on the rest of the world.
Some time ago, the World Gold Council (WGC) published a review of the gold market, which also reported that Central Banks bought 651.5 tons of yellow precious metal in 2018, which is an absolute record for the last 50 years.

In the Asian and Eastern countries, the process of increasing gold reserves has been going on for a long time in order to shake the stability of the American currency and reduce its importance in world trade. For example, China, India and Turkey have already bought oil from Iran in exchange for gold. In the Venezuelan crisis, gold also plays a key role. And this is not surprising. For the United States, any country can become an enemy if it tries to influence the dominance of the dollar in world trade.