Watch out, America: China and Russia are stockpiling gold

From marketwatch.com

I’ve never been a gold bug. The yellow metal generates no cash, grows no crops, provides no shelter and supplies no useful service. It hasn’t been official money for decades. It isn’t any kind of “safe haven” because it always seems to be crashing or booming or crashing again. It hasn’t been an efficient way of verifying payment since Samuel Morse invented the telegraph. But here’s the funny thing: It’s been going up. Big time. And for none of the usual reasons. There’s no inflation. Prices are currently rising by about 1.6% a year. There’s no obvious economic distress. The U.S. economy is growing ... (full story)