Loading ...Another theory is that Russia is hugely aware of the enormous debt situation which has been built up by the USA and reckons on a big depreciation in the dollar as a currency as a result. This would likely lead to a massive gold price increase in U.S. dollar terms (in effect a dollar devaluation) leaving the Russian Federation with a more than adequate forex reserve level by comparison. The huge hit to the U.S. economy from the coronavirus would serve to make this an even more likely occurrence. We are already seeing a downturn in the dollar index from this.
and reckons on a big depreciation in the dollar
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