I cannot take much stock in "economists" who "say" the above, but as a point of clarification, I will share my perspective.According to German economists, Putin is trying to undermine the power of the United State(s) and Europe. Those who buy gold stand in the way for Western currencies in their global domination. This is a part of Putin's plan for world domination, economists say.
To undermine the power of the global dollar system is not an effort devoted entirely to undermining the power of Western nation states. And neither Putin, nor Russia alone, stand any chance of undermining the dollar.
This is why Russia, China and India are forming an "economic union" (and possible future currency bloc) backed by a combined central bank gold reserve that exceeds that of the European Union (purportedly 10,000 plus tons) and the U.S. (purportedly 8,000). Obviously, any astute reader of current events (outside of the mainstream propaganda pulpit) understands that Middle East gold is beginning to share its interests in this development.
There is no doubt in my mind that official holdings of gold reserves among these confidants far exceeds the holdings of "the West" and if we were to add in the publicly held gold, in China and India especially, this margin would be overwhelming.
But back to the competing dollar phenomenon - which knows no national affinity. A global central banking cartel is the "nation state" it serves, and the concentration of wealth it creates is controlled mostly by a very small percentage of masters - the major bond holders of the banks that are the primary dealers of the Western central banking model.
These banks are "Too Big To Fail", therefore their bond holders are protected against any losses, no matter the risk. You should think long and hard on this. The resiliency of the system is owing to this absurdly "new normal", and such guarantees will be protected up to and including war.
As all wealth has a claim to title that is "owned" through the signature of a human being, these Patriarchs of the generational wealth dynasties hold much more gold in private reserves than the above "economists" will ever comprehend.
So shed your beliefs and biases of the past. It barely rhymes with what is about to unfold. The 2% have their sites set on gold, economic development and the profit potential of the next global monetary system.
The dollar system is not a Western system - it is global. But as the next system evolves, the dollar will be gradually relinquished to being more of a Western, or regional or even national currency, as its relevance in international trade and contractual denomination gradually fades. The next U.S. president, like many before and many to come, will be a vassal to the system and its architects - even through change.
Only GOLD has the history, depth, unique qualities, favor among the 2%, and transitional power to challenge any man, any nation, any system on earth, past, present and future. The 2% understand this, because they have both witnessed and authored this axiom across generations of asset accumulation.
When they vote, they vote with their ability to make markets, and then reap the profit from the market they make, offering favor to those who protect their interests. They easily control men through greed and are beholden to Gold alone. Gold transitions their wealth recycling system through change.
You too can vote with your wallet, as do the Roacheforques, when you vote for gold. It is the world's most noble King and protector, guarding free markets and the working classes against the wealth redirection of the false gods of debt and financialization since the dawn of civilization.
This noble King lies still until man destroys his world again with manipulation, malinvestment, easy money fraud and misdirection, and all the false promises that lure the weak into the snare of "something for nothing" ... until the alchemists of fiat have drawn the planet into another global depression - killing off the working classes and recycling all their fiat paper claims into the wealth disparity we see today, finally rendering fiat useless as the working classes default (or give up their gold ;0)
We are here today, as gold stands vigilant, ready to re denominate our failing paper, such that the process of growth, by feeding the great herd of working classes (to be milked), begins again.