A Russian analyst named Dmitry Kalinichenko recently penned a brilliant article entitled “Grandmaster Putin’s Golden Trap”. The original article was written in Russian and subsequently translated into English. Some of the translation’s language is a little rough, but it all makes sense.
Part of his article discussed the significance of a recent announcement by China:
“China recently announced that it will cease to increase its gold and currency reserves denominated in US dollars. . . . [W]hen this statement translated from financial language, it reads: ‘China stops selling their goods for dollars.’