MarketWatch posted a piece postulating that Putin’s stockpiling of gold reserves was actually a death watch for the U.S.’s position at the top of the economic ladder at the hands of — you guessed it — the Chinese.
The writer, Brett Arends, used this logic, and it makes sense if you like the idea of casting Russian President Vladimir Putin as the Evil Prince cackling in his dark, brooding Kremlin as he awaits our Shining City on the Hill to finally collapse under the weight of its own debt into the surging Yellow Sea.
The International Monetary Fund has said that if current economic trends hold sway, the U.S. will lose its status as the world’s largest economy to China by 2017. Because these kinds of power shifts in the world seldom happen peacefully, the Russians as an emerging economy are eager to shift their reserves away from other…
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