In recent months, stories have been doing the rounds that the Chinese have stopped buying gold for the time being after a long period of aggressive buying. I think this will turn out to be a big mistake. In their quest for independence from the us dollar system, the major players in the BRICS countries are faced with the task of closing the immense confidence gap that is necessary to build a common monetary and payment system.

Their currencies, be it the rouble or the Chinese yuan, do not necessarily have a reputation for being particularly stable in terms of purchasing power. Even in comparison with other fiat currencies such as the euro or the dollar, these currencies continue to play a subordinate role as a means of international payment.

Sufficient backing by gold is intended to close this gaping gap in confidence. Back to the 19th century!

Interesting in this context is the news that India is now also among the aggressive buyers on the precious metals market. India, geopolitically a classic swing state between the G20 and the BRICS, seems to want to remain active on both sides and is becoming more and more aware of its geopolitical power as the world's most populous country and largest democracy, as well as the economic powerhouse in the region.

This does not bode well for Europeans. While the Germans are busy selling their Bitcoin holdings (the reserve asset of the future), the question of how to counter the next euro crisis remains. This currency is not economically secured by anything; it lives solely on people's trust in the ECB's ability to keep inflation rates down and to discipline the debt-induced behavior of eurozone countries in some way. This is likely to become increasingly difficult in view of the extent of new debt, which is why the Europeans will find it difficult to secure the necessary energy imports with their fiat currency, especially from regions with gold-backed currencies in the future, without noticeable inflationary imports. In these weeks and months, pricing power is shifting to the resource-rich supplier regions. Europe, which is now also moving massively to the left politically, must be prepared for strong price pressure.