Foreign central banks, he says, have bought 3x more gold than US treasuries in the past 8 years, — an astonishing trend, and one likely to intensify in the wake of the US and Europe freezing Russia’s FX reserves.
There are some things that make sense there, and some things that don't. Owning gold to evade sanctions certainly does not. The gold doesn't usually move around, remember! And a pile of gold that no one is allowed to buy from you is hardly better.