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United Arab Emirates is stocking up on Russian gold. How much does this hurt the US dollar? – LifeSite

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(LifeSiteNews) — A good deal of LifeSite readers and viewers are interested in the world of finance, a fact that came to me as a surprise. Recently, the United Arab Emirates (UAE) bought 75 tons of gold from Russia, as foreign interest in the U.S. dollar continues to decrease.

On this episode of The John-Henry Westen Show, I am once again joined by Drew Mason of St. Joseph Partners, which helps LifeSite readers and viewers with their precious metal needs. We discuss the implications of the UAE’s purchase and the necessity of protecting wealth through precious metal assets.

Mason suggests that the UAE made the purchase in order to “decrease exposure to the dollar and other currencies and increase their exposure to gold.” According to him, the UAE, seeing the current economic state of affairs, consciously opted to purchase the gold “based on risk/reward,” despite already having a large quantity of gold. He further stresses that the UAE purchased the gold from Russia, a country facing U.S. sanctions over the Ukrainian war, making a “clear statement as to where … they are seeing their alliances move in the future.”

Mason warns that this is part of a broader series of events, implying a move away from the dollar as a global reserve currency, something that will be a “game-changing moment for Americans,” as the United States would no longer be able to print money to buy overseas assets – something he discussed on a previous episode.

“What we see these central banks doing, diversifying away from dollars to gold is exactly the strategy [St. Joseph Partners] suggest[s] families need to consider with urgency, because we now have the majority of central bankers in the world … stating as well that gold will become a more preferred reserve asset moving forward, and dollars will become a less important asset,” Mason states.

He further stresses that gold and silver are currencies and warns that people will flock to them as global currencies begin to lose value in their countries’ efforts to pay off debts. Investments in real estate, stocks, and bonds, meanwhile, will be unreliable due to high inflation. “We think we are in the early stages of problematic inflation that is going to be very positive for gold and silver and will reward investors for that,” he says.

Tying the inflation crisis into the fact that most countries are facing an inability to pay off debts without “cheapening the currency,” or are facing currency bankruptcy, Mason adds: “We have this synchronized move towards currency bankruptcies that is unprecedented in history where … we’re going to have people from all over the world looking for what currency will protect their value.”

Mason also warns that no one knows when the “inflection point” for this will occur, and that people need consider investing in gold and silver as soon as possible to protect their wealth.

“If you have an allocation in the metals, and the feds and the other central banks are able to bubblegum things together for a while longer, that’s okay,” Mason tells me. “This is your hedge. You don’t want to be in a situation where you didn’t have a hedge, and all you have is correlated assets with tons of dollar exposure.”

The John-Henry Westen Show is available by video on the show’s YouTube channel and right here on my LifeSite blog.

It is also available in audio format on platforms such as SpotifySoundcloud, and Acast. We are awaiting approval for iTunes and Google Play as well. To subscribe to the audio version on various channels, visit the Acast webpage here.

You can send me feedback, or ideas for show topics by emailing [email protected].

Faith-based pro-life silver rounds are here! GET YOURS TODAY!

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