alternative news

RT: RUSSIA NOW THE WORLD’S LARGEST GOLD BUYER

February 18, 2013 By Joseph P. Farrell

This one interests me, not only for the story, but for the "subtext" in the story, and my thanks to Mr. C.S. in Europe for sharing it with me. Russia Today (RT) is reporting that that country has now become the world's largest purchaser of gold bullion, exceeding even China:

Russia emerges as world's top gold buyer, adding 570 metric tons in last decade

Now in one sense, we may take this as more geopolitical and econopolitical confirmation of something I have been sayhing on this website, and that others have been arguing on their sites. The scramble to repatriate gold from the US Federal Reserve system, a scramble really begun in earnest when Germany called first for an audit, and then for a repatriation, of its gold. In this context I have been urging that readers look to what three countries would do in the future: (1) Germany, for its powerful export and specialization economy, its heavy tool and dye industry, and for the fact it is still the central and mainspring European power, (2) Russia, for its vast energy and other resources, for its kind of "neo-nationalist" post-Yeltsin governments under Putin-Medvedev, and for its military modernization and expansion efforts, and finally (3) China, for its large economy, and for its quiet penetration into various global markets, especially Africa.  We have also noted China's military and naval buildup, and the growing tensions between it and the USA in the Pacific.

In this context, Russia's decade-long purchase and increase of its gold reserves is a geopolitical move, and again, one that in the wider context of the Shanghai accord nations and the emergence of the BRICS nations, is yet another subtle challenge to the unipolar view currently regnant in Western oligarchical circles.  As I recently blogged, Russia is modernizing its navy and armed forces, and bringing into service an entirely new class of ballistic missile submarines. it has announced clearly its intention to be a part of the process of "globalization". In other words, it is speaking the language, and it intends to use the globaloney jargon of London and New York and all those foundations and think tanks of the West against the unipolarity that this jargon cloaks.

But there's an equally interesting subtext to this RT article, and that is their mention of Bloomberg as a reference and source. To be sure, Bloomberg would be considered part of the established financial media, and like all media, RT no less than its western counterparts consults "the competition." But looked at in context it means something very important. RT after all his given voice to Max Keiser, the former Wall Street trader who knows how deeply the financial corruption runs in the USA and UK. Keiser cannot, by anyone's lights, be understood as a socialist or communist. But he is not a mercantilist or corporatist either. Some might consider him a renegade or even a maverick. But that's the point, by given him a voice, RT has caught the measure of the disenchantment in the West with the Western oligarchs and corporatists. And, unlike before, they're not regaling us with the wonders and glories of Marxism or Bolshevism. It doesn't "sell" except maybe in Havana or North Korea.

That means in all likelihood that RT is probably not only benefiting from the considerable cultural analytical skills of Russian intelligence, but that both are probably closely watching the west's alternative media too.  I would say that you could "take that to the bank," except that you, like me, probably don't trust very many of them any more.

See you on the flip side.