AUGUST 15, 2016 By Inessa Sinchougova
In 2011, Putin alluded to creating a parallel financial system, based on the ruble, that will rival that of the dollar. This may mean that the US will no longer be able to live in debt and create perpetual war, given it will have less buyers of its treasury bonds. The US government holds the largest amount of debt in the world; at $19 trillion, it is guaranteed by nothing more than fiat money.
By contrast, Russia is the top buyer of gold in the world today, and has been steadily increasing its reserves over the past 15 years. This is being done, presumably, to disengage from the dollar system, using a gold-backed ruble system. Could this not be one of the core reason that Putin is the enemy of Western elites?