Why Is Russia Buying So Much Gold?

The Daily Coin: Many U.S. politicians believe the dollar is better than gold. Other nations are not as convinced.

Russia is loading up on gold. Since May 1, the Central Bank of Russia has added 700,000 troy ounces to their national gold reserve. That’s as much as the combined weight of 33 full-grown Kamchatka brown bears.

These new purchases have pushed Russia’s total gold holdings up to 1,707 tons—half over again what they were when Vladimir Putin first came to power in 2000. Russia now has the seventh-largest gold hoard on the planet…read more

Opinion by PROPHECY TRACKER: Gold is known as an inflation hedge and a disaster asset. The theory is that if/when fiat currencies implode, gold will skyrocket.

That was a better argument before digital currencies (Bitcoin etc.) came along and changed the calculus, but for most financial experts and at least two foreign governments it is still the go-to asset in times of trouble.

According to Sputnik news (here) “Russia and China continue to stockpile gold in a bid to cut their economies’ dependency on the US dollar in the future. Experts told Sputnik that if the dollar’s role as a global reserve currency is decreased the world will see radical political and economic transformation.”

There are an awful lot of folks storing up provisions for the wrath of the Lord also known as the tribulation period. They are called ‘preppers’ and many have spent fortunes turning garages into mini-warehouses with thousands of dollars worth of freeze-dried foods, oil lamps, solar stoves, guns and gold etc..

The OT says this:

“They will throw their silver into the streets, And their gold will be like refuse; Their silver and their gold will not be able to deliver them In the day of the wrath of the LordThey will not satisfy their souls, Nor fill their stomachs, Because it became their stumbling block of iniquity” Ezekiel 7:19.

The NT says this: 

“Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal; but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal.” Matthew 6:19-20

Imagine how dangerous it would be to have a food warehouse and a stockpile of gold at a time when people are starving.

Our reader Centurion brought up an excellent point regarding the time of God’s wrath, and why the church will not be here:

“If the church goes through the tribulation as Covenant/replacement theologians expound, then it is tantamount of having the Son of God (the Lamb) as the second person of the Trinity waging war against the third person of the Trinity, the Holy Spirit, who is embodied in the church. Those who think this need to read Matthew 12:22-30 (A house divided). How devastated does it get in the tribulation? By the end of the 6th trumpet (Rev 9:13-21) 1/2 of the earth and mankind are destroyed. If you are the church living in the ‘kingdom’ at this time, would you be impressed?”

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