IPFS News Link • Gold and Silver
China and Russia are Acquiring Gold, Dumping US Dollars
• globalresearch.ca, By Prof Michel ChossudovskyA large part of these Central Bank purchases of gold bullion are not disclosed. They are undertaken through third party contracting companies, with utmost discretion.
US dollar holdings and US dollar denominated debt instruments are in effect being traded in for gold, which in turn puts pressure on the US dollar.
In turn, both China and Russia have boosted domestic production of gold, a large share of which is being purchased by their central banks: