No one wins with a world split into two rival political-economic blocs
South China Morning Post/Anthony Rowley/1-22-2023
“Russia and China could choose to declare financial war on the major Western powers in Bloc 1 by selling US dollar assets and investing the proceeds not only in gold but in other precious metals and industrial commodities, forcing the dollar and other key currencies down further.”
USAGOLD note: Rowley considers a new alignment of nations as the world splits into two camps – one led by the United States, the other by China. “Beijing is in a relatively strong position to consolidate and strengthen its position while the US and its allies struggle with long-standing economic problems,” he says. We are not sure how much of that assessment is grounded in reality. The economic problems on both sides are profound.