While the world is distracted with Iran, China is moving with quiet, cold-blooded intent. Behind the scenes, the People's Bank of China is executing a massive, methodical gold buying spree. Bloomberg tells us: "Beijing has already been accumulating reserves for a decade, building a bullion stockpile that is likely to be the sixth-largest in the world." Why are they doing this? They see the writing on the wall: the era of the dollar's total dominance in the energy markets is coming to an end. So they're hedging against a "post-petrodollar" world. Meanwhile, too many Americans are unprepared and vulnerable. While the media keeps you focused on daily oil price swings, the real story is the structural damage being done to the dollar. If the petrodollar dies, the value of every paper asset in your retirement account could be compromised. |
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