Russia banks on gold as insurance against currency woes

When Vladimir Putin says the US is endangering the global economy by abusing its dollar monopoly, he’s not just talking.

He’s betting on it.

Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of the metal in the past decade, a quarter more than runner-up China, according to IMF data compiled by Bloomberg. The added gold is triple the weight of the Statue of Liberty.