Russia Secretly Hoarded Gold for This Moment; Sanctions to Backfire on U.S

“Europe has just placed its entire energy economy at risk with natural gas and oil sanctions,” as the dollar strengthens and the euro weakens, asserts Byron King, author of Whiskey & Gunpowder at St. Paul Research. Russia has been increasing its gold reserves to prepare for economic sanctions, “for the last eight to nine years,” he tells our Daniela Cambone. Lawmakers in the West, “did not truly understand the medium and long-term risk of truly weaponizing the dollar,” King claims. The inflation levels that the United States is currently experiencing have been, “structurally built into the economy,” he continues. King declares that the world is moving to a different type of international trade, “and it’s going to be a basket of things including energy, gold, and various commodities.” Gold has plenty of upside potential and will be a part of the commodity currency of the future, he concludes.