The expert called the Russian investments in gold protection from debt risks of the United States

Washington can reduce the real value of its national debt through inflation and depreciation of the dollar, according to the authors of the publication on the Chinese platform Baijiahao. In this scenario, losses will be incurred by owners of US bonds and dollar assets.

According to the publication, the US national debt this year reached $ 40 trillion. The authors attribute its growth to the long-term excess of spending over budget revenues. The increase in the yield of 10-year Treasury bonds, according to them, increases concerns about further debt service.

The article provides a forecast of financial expert James Rickards. He believes that the US authorities will not significantly reduce spending, and the debt burden will be reduced through inflation. Nominal liabilities will remain, but the purchasing power of money received by creditors will decrease.

As a defense, Rickards suggests replacing Treasury bonds with gold and cites the Russian experience. According to him, after the introduction of sanctions in 2014, Moscow reduced investments in American securities and purchased the precious metal. He assesses the subsequent rise in the price of gold as a benefit for Russian reserves.

The expert sees a separate advantage of such an asset in the place of its storage. According to him, the United States can limit payments on Treasury securities, but do not have access to gold in Russian vaults. The forecast for inflationary debt depreciation reflects the assessment of Rickards and the authors of the publication, not the announced plan of the US authorities.

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