Thread by @LevinaNeythiri

1/6 Reason y #India & #China r buying GOLD from diff places🔴
~India’s forex reserves is in US dollar denominated securities.India faces risk of erosion in reserves due to rise in US bond yields.
~Only 8% of India’s reserve is in GOLD.
~#TURKEY is largest buyer of gold in 2022.

2/6 ~Seems inflation will hit b4 de-dollarisation takes place‼️Hence Indian Govt is shoring up India’s foundation against inflation by buying GOLD.
~ #China hs bn in a GOLD buying spree coz it hs same issue as India’s— 2,000 tons of Gold it bought represent jst 3% of reserves.

3/6 ~B4 de- dollarisation takes place, INFLATION will hit us is a reality.
~Yes, it’s true New global reserve currency (GRC) has been introduced by #BRICS. Had mentioned it in my article. 👇
🔴GRC has an issue: intra BRICS economic ties will increase. chanakyaforum.com/human-rights-c…

4/6 If intra- BRICS trade increases,it means India wont be able to whittle down trade relations with China. In any case, snapping ties with China immediately was never a possibility after #Galwan face-off. Its a slow process to get rid of Chinese products,so is DE-DOLLARISATION‼️

5/6 ~Most logical way to #counter China will be by EATING INTO it’s share of TRADE. Getting #Apple & other co.s to move from China to India,should get us there.
~Dollar & Gold’s relation is inversely proportional. Right now Dollar’s value is going up, it makes sense to buy GOLD.

6/6 ~In the 1st quarter of 2022 Turkey was at no.1 #Egypt and #Iraq are at no. 2 & 3 in GOLD buying spree.

~According to Reuters: U.S. possesses most gold, 8100 tons+, which is 78% of its total foreign reserves. So BIG thing that everyone’s talking abt is INFLATION. Brace up‼️

Reuters report: reuters.com/article/sponso… Gold to total reserve is 8%, India: thehindubusinessline.com/data-stories/d…

And I believe this inflation like the previous one is MANUFACTURED. Atleast this time we know about it in advance.