28:10-33:00 Discussion of what can throw off the Fed's plans. Russia and China have been buying enormous amounts of gold in the past few years. Both countries are making plans to reduce their reliance on the US dollar. This would have the effect of reducing demand for the dollar and causing price inflation in the United States. Reduced dollar demand would impact the value of Russia's and China's dollar reserves, but the increase in value of their own currencies and gold reserves could more than offset those declines. Discussion of Russia's oil deal with Iran. Russia doesn't need oil! They are probably doing the deal to test non dollar deals. Unlike smaller countries like Iraq and Libya, the U.S. can't force Russia or China to accept the US dollar with out a major war.
http://smaulgld.com/are-russia-china-moving-against-dollar/ (with additional charts and links)