mo4ch:>Russia boosting gold reserves at a time of impending US dollar crisis – Peter Schiff | Mo4ch News

The global gold fever, led by Russia which is diversifying its foreign exchange reserves, is the right thing to do as the US dollar’s value is being diminished, CEO of Euro Pacific Capital Peter Schiff told RT.The greenback’s role as a reserve currency is going to be questioned soon, according to Schiff.“I think what Russia is doing or other central banks are recognizing is that they need to increase their gold reserves because of the impending dollar crisis. Ever since the US led the world off the gold standard, the world has been on a dollar standard. That was fine when the dollar was backed by gold but now the dollar is backed by nothing…” said Schiff.Also on rt.comRussia boosting gold & dumping dollar from foreign currency reserves“Up until now that hasn’t been a problem because people have still perceived the value of the dollar but I think that’s going to change,” he added.Russia obviously wants to buy as much gold as it can while the price is still relatively cheap, Schiff …