Tell me a little bit about the
a build-up of gold in the the the Russian
the central bank and whether what the reason for that was whether
they've been able to utilize it in this situation certainly doesn't seem to
have protected the ruble uh in the short
term when those sanctions came in just
give us your thoughts on what the
the reasoning behind that buildup was
there with the golden reserves yeah it's
interesting because I wrote about this
in my first book currency wars which
came out in 2011 so that book is
10 years old at this point um but pick
it up the first two chapters were about
uh the first-ever financial war game
where I was one of the game workings
planners and facilitators and then i
participated in a war game and I wrote
about it in the book and um I cooked up
I was on the china team uh I had a
friend uh I recruited for Russia
team, we went out to dinner and we cooked
up this plan on our own, uh and was like
aren't you cheating on the game I said
no this is war there's no cheating it's a war um but what we said was that in
our separate embassies we had these
breakout rooms so the china team would
go to a room that was like our embassy
or whatever the other teams did likewise
but I was going to try to sell my
Chinese teammates on the idea that china
would buy as much gold as possible turn
it is back on the dollar
and where it's just that any Chinese
exports had to be paid for in gold
and my friend was going to try to do the
the same thing on the Russian side and we're
going to try to run the dollar off the
a road that's a little far-fetched at the
time but that's the whole idea of a war
The game is to get the pentagon thinking you
know at least five years ahead or longer
um and uh
I don't wanna ruin the ending but the
the whole thing is in my book but the point is at the time we did this
we got left out there was Harvard
professors like you guys are crazy
you're foolish why are you talking about
gold's not part of the monetary
the system at that time Russia had 600 tons
today they had 2 300 tons in other words
exactly the course of conduct that we warned the pentagon about in that case
12 years ago has played out um and uh uh
and they're doing it intentionally
because they're trying to get away from
the dollar now it's hard to getaway
from the dollar, the dollar is too big...
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