This trend comes at the same time as the revelation that the U.S. emptied the coffers in Ukraine, airlifting their gold reserves out of the country soon after the U.S.-backed coup early this year. (And following which, Iraq bought 36 tonnes of gold from the U.S., the biggest purchase by a country in three years.) Also, countries like Russia and China are buying up gold as fast as they can. Russia, in particular, is selling off oil in exchange for gold. (See: SOTT EXCLUSIVE: Interview with Russian economist Mikhail Khazin: On gold, the imminent collapse of Western neo-liberalism, and Eurasianism) As Dimitry Kalinichenko recently put it:
The twist of Putin's game is that the mechanism for the sale of Russian energy to the West only for gold now works regardless of whether the West agrees to pay for Russian oil and gas with its artificially cheap gold, or not.The other countries looking to get their gold back include Germany, Switzerland and France. And this is where things get interesting.
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Thus, in exchange for Russian oil, gas and uranium, the West pays Russia with dollars, purchasing power of which is artificially inflated against oil and gold by the efforts (manipulations) of the West. However, Putin uses these dollars only to withdraw physical gold from the West in exchange at a price denominated in US dollars, artificially lowered by the same West.
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The problem of the West is that the stocks of physical gold in possession of the West are not unlimited. Therefore, the more the West devalues oil and gold against the US dollar, the faster it loses devaluing Gold from its not infinite reserves.
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Thus, Russia poses a real threat to the American model of petrodollar world domination.













Comment: As RT reports, this is despite the Dutch PM stressing the importance of Malaysia's 'cooperation'. We can all guess what that means: shut up and do what we tell you. Recall the few days after the crash, when Donetsk was considering handing the black boxes over to Russia, who denied the offer, after which they were given to Malaysian authorities, then promptly shipped to the UK under Dutch orders. See also: Transparency?! Why do we allow Kiev to write the official report on MH17?