Why are two of the world’s superpowers gobbling up gold so quickly, and what does it signal to Americans about their own savings?

‘The primary motivation behind China and Russia’s mission to rapidly increase their gold reserves is actually quite simple: both countries want to reduce, and ultimately eliminate, their dependence on the U.S. dollar. However, the underlying objectives that each country wishes to accomplish by doing so are slightly different.
Russia is trying to release itself from the reigns of financial sanctions coming from Washington, according to a report in Sputnik News. China, on the other hand, is hoping to bolster its own currency, the yuan, with the long-term goal of establishing it as a global reserve currency to compete with the dollar, MarketWatch reports.’
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