Russia and China building their gold reserves

If Russia's new central bank chieftan, Elvira Nabiullina, confirms suspicions and implements "Austrian School" monetary policies, the world could become very peaceful that it hasn't been for decades. Seriously, not kidding. Wars are debt-funded. Austrian school is sound money, gold exchange orientated, hence: no golden tickee, no washee.

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By Alasdair Macleod

July 1, 2013

Western economic commentary on China and Russia is usually colored by monetarist assumptions not necessarily shared in Moscow and Beijing. For this reason, Russian and Chinese fiscal and monetary policies are misunderstood in financial markets, as well as the reasons their governments buy gold.

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