The US Gold reserves has not been audited since 1953.Many financial greats say we have little left, much has been leased out, traded, swapped...leaving our reserves gutted. Russia and China has made huge, historical gold purchases in the efforts to soon back their currency in gold.
Backing in gold ( percentage of their currencies- not to be confused with the old Gold standard) will create a rush out of the USD and into something tangible....do note the USD index is currently falling and down to 95, ( a decade ago it was 120) which means it takes more dollars to buy goods. Do realize, gold had made a 500,000 PERCENT increase priced in Venezuela’s Bolivar currency, in just three years. We are not Venezuela, but in the past 5 years all the world’s currencies have crashed against gold. See here, you will be shocked to see the charts.
https://bullion-rates.com
“ We are not Venezuela,” ... yet. But the people who celebrate Venezuela are working feverishly to make it happen here.
In the past two weeks or so, there have been several threads here on FR about China gold plating tungsten in billions of dollars of fraud.