Saturday
Russia has, according to their Finance Ministry website, completed the divestment of all their US$s. This chart shows their current holdings
Twice as much wealth stored in Euros as in Gold displays a casual disregard for prudent wealth management. No one could imagine that the Eurozone is a robust aggregate of committed nation states. It is a loose federation held together in the present by the decaying glue of past promises of future glory.
It is not hard to figure out what will happen to the value of the Euro when the Eurozone collapses. It is also not hard to figure out that the US$ will be the last currency to fail, not the first.
Because these things are not hard to figure out, I am deeply suspicious of the above chart. Why would Russia do that? The most likely answer is that they would not, and that they have not.