• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

Russia To Increase Gold Holdings By 13% In 2011, Will Buy 100 Tonnes Of Gold Each Year

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 01/24/2011 - 11:19 | 898670 JW n FL
JW n FL's picture

nooooooo..... noooooooooo.... gold $1050.... lol

Mon, 01/24/2011 - 11:35 | 898731 DaBernank
DaBernank's picture

Maybe dougie meant GLD @ 105, which is not what Russia's buying.

Mon, 01/24/2011 - 11:58 | 898813 Lieutenant Dan
Lieutenant Dan's picture

Teach me how to Dougie!

Mon, 01/24/2011 - 11:46 | 898735 Pladizow
Pladizow's picture

Kass 2009 Prediction:

Gold never reaches $1,000 an ounce and trades at $500 an ounce at some point during the year.

Kass 2010 prediction:

The price of gold topples. Gold’s price plummets to $900 an ounce by the beginning of second quarter 2010. Unhedged, publicly held gold companies report large losses, and the gold sector lies at the bottom of all major sector performers. Hedge fund manager John Paulson abandons his plan to bring a new dedicated gold hedge fund to market.

Kass 2011 prediction:

"Gold will briefly touch $1050.00/ OZ. and should finish the year $150 lower than where it is today.

 See you in Siberia Comrad Dougie!

Mon, 01/24/2011 - 11:51 | 898787 EscapeKey
EscapeKey's picture

With such a great track record, he ought to work for the Federal Reserve.

Mon, 01/24/2011 - 12:18 | 898889 Pladizow
Pladizow's picture

He does, via CNBC.

Mon, 01/24/2011 - 11:57 | 898809 Lieutenant Dan
Lieutenant Dan's picture

Kass can kiss my ass! Paper gold may trade 900, but no one in their right mind would give up real gold. If gold is worth 1300 today, and the fed continues to print more money, then the price of real indillutable gold goes up (assuming the ratio of gold produced/total gold outstanding < total debt purchased/total debt oustanding).

Mon, 01/24/2011 - 11:20 | 898672 Glasgow Gary
Glasgow Gary's picture

If they can find 100 metric tons a year, I'm sure they will.

Mon, 01/24/2011 - 11:35 | 898732 High Plains Drifter
High Plains Drifter's picture

Do you think the Russians test a bar or two , from each pallet?

Mon, 01/24/2011 - 11:20 | 898673 Hard1
Hard1's picture

The Fed just sent a representative to talk them out of that idea and he decided it would be easier to sacrifice himself at the airport.

Fort Knox just got a bid 

Mon, 01/24/2011 - 11:25 | 898691 Raynja
Raynja's picture

+ 36000

Mon, 01/24/2011 - 11:49 | 898776 Sudden Debt
Sudden Debt's picture




Mon, 01/24/2011 - 11:50 | 898779 ArrestBobRubin
ArrestBobRubin's picture

Woof! nice one mate.

Mon, 01/24/2011 - 12:20 | 898898 Clark_Griswold ...
Clark_Griswold Hedge Mnger's picture

You didn't see the For Rent sign out front.....

Mon, 01/24/2011 - 12:30 | 898942 e_goldstein
e_goldstein's picture


Mon, 01/24/2011 - 11:21 | 898675 Math Man
Math Man's picture

Headline should have read:  "Russia to buy half as much Gold in 2011 as they did in 2010"

Mon, 01/24/2011 - 11:40 | 898753 JW n FL
JW n FL's picture

the buy is in... quiet and global... dont believe what you are being fed all the time..

Mon, 01/24/2011 - 11:21 | 898678 end times prophet
end times prophet's picture

Sounds like they are going to have to print a couple more ton(ne)s of paper gold

Mon, 01/24/2011 - 11:22 | 898679 topcallingtroll
topcallingtroll's picture

Russia is talking their book and they are getting concerned.

Mon, 01/24/2011 - 11:26 | 898700 Quintus
Quintus's picture

Yeah, that's right!  The Russian government has now branched out into the metals trading business and is just talking up the price so they can unload all their gold to some poor suckers at a profit.

Mon, 01/24/2011 - 11:40 | 898752 caconhma
caconhma's picture

You got it all wrong. Just like in Tunic, the Russian government officials are not so sure about tomorrow. Therefore, they buy gold to run with something tangible.

They do understand that fiat money is just POS.

Mon, 01/24/2011 - 12:02 | 898801 Quintus
Quintus's picture

Sarcasm mate.  The Russians (and everyone else with a trade surplus) know damn well that paper is no longer a sound store of value.  Funnily enough it's only those countries whose principal export is paper debt that are really keen on promoting paper debt as a store of value.

Mon, 01/24/2011 - 11:23 | 898687 Quintus
Quintus's picture

Has anyone told them that they can't eat it?  Clearly not, or they wouldn't be wasting their hard-earned money on a useless metal that isn't even real money and is going to be worthless soon anyway.

Mon, 01/24/2011 - 11:32 | 898720 Arius
Arius's picture

i suppose they got to learn the hard way...

Mon, 01/24/2011 - 13:14 | 899080 Calmyourself
Calmyourself's picture

I was thinking, half their wheat crop burns and they buy 100 tons of shiny yellow metal?  Stupid russkies, you cannot eat it, now if they would buy APPL they would be in good shape, you can eat that you know..  Jonnadler weigh in here..  It is almost as though, India, China, Russia and many other countries know better than those paper market puffers, hmm..

Mon, 01/24/2011 - 13:16 | 899093 In Fed We Trust
In Fed We Trust's picture

I took alll my gold and plated my teeth with it and made a nice grill.  I want to make sure that my gold can't be confisicated before I skip town.  When I gets some extra cash I may set a diamond on each tooth to enhance my grill.

People need to be carefull about wearing to much gold on the body.  I've seen niggers OD on the stuff.  What was that movie...? "I'm going to get you Sucker" where the dude OGed from wearing to much gold?

Mon, 01/24/2011 - 11:25 | 898693 alter ego
alter ego's picture


After this news came out, the Fed along with

other banksters sent a little package by fedex

to their Ruski friends

Unfortunately for Berni, the package exploded

before been delivered.

I think that is a wicked way to send a


Mon, 01/24/2011 - 11:25 | 898696 Dr. Porkchop
Dr. Porkchop's picture

Tell them it's a barbarous relic.

Mon, 01/24/2011 - 11:27 | 898701 alter ego
alter ego's picture

The Fed to Rusia.

Don't buy gold, don't buy gold.

Just buy "Trash for Cash"

I mean it.


Mon, 01/24/2011 - 11:31 | 898708 TheGreatPonzi
TheGreatPonzi's picture

The manipulation on metals is becoming more and more visible, and no one can deny it.

This night, every commodity (from corn to copper) opened very significantly higher. It was including gold and silver. When bad news coming from Ireland and good news coming for Russia about gold came, the trend in PMs was abrubtly reversed. Unfortunately, the banks focusing only on PMs prevents them to do the same for every other commodity. We have a very strange and ridiculous decoupling as a result.

Mon, 01/24/2011 - 11:36 | 898737 Turd Ferguson
Turd Ferguson's picture

Wait a second.....I thought that the gold bull was over. Everyone is saying so!

On a lighter note, my latest video is now posted to YouTube.


Mon, 01/24/2011 - 12:05 | 898835 DaveyJones
DaveyJones's picture

"my favorite russian hooker" - very nice

Mon, 01/24/2011 - 16:49 | 899939 DoChenRollingBearing
DoChenRollingBearing's picture


Mon, 01/24/2011 - 21:55 | 901167 StychoKiller
StychoKiller's picture

So, in your movie, the JP Morgue is plugging your advertisers?!  Absolutely shameless -- I love it! :>D

Mon, 01/24/2011 - 11:30 | 898709 Dr. Porkchop
Dr. Porkchop's picture

Sign On Road Entering Russia:


Welcome To Russia!


  • We Buy Gold!
  • Russia Brides Waiting To Meet You!
  • Yes, We Have Phone Cards!
Mon, 01/24/2011 - 11:38 | 898747 GoinFawr
GoinFawr's picture

In Russia, Gold can't eat you.

Mon, 01/24/2011 - 11:53 | 898794 ArrestBobRubin
ArrestBobRubin's picture

You forgot a big one:

-Unlike where you live, we prosecute bigtime Jewish financial criminals here

Mon, 01/24/2011 - 11:30 | 898711 Oh regional Indian
Oh regional Indian's picture

Funny thing is that the Central Bank is just a part and party of the global central Bank circle jerk, headed by the CENTRAL bank (BIS). All tune-marchers.
Ask yourself, why do central banks need to broadcast their moves? What good does it do anyone? No one and no good at all I feel.

Such a sham.


Mon, 01/24/2011 - 11:34 | 898725 lsbumblebee
lsbumblebee's picture

Whose turn is it this week to prop up the USD? We may have to listen to Dougie Kass and the Gold Bashers at 78 rpm.

Mon, 01/24/2011 - 11:35 | 898729 Mad Max
Mad Max's picture

You know, people always say "you can't eat gold."  Yet, I've had bits of gold leaf on chocolate cake at absurdly priced restaurants.  I also "think" I had Goldschlager one time back in college, but the memory is a bit fuzzy.  However, I've never eaten an FRN, willingly or not, either straight or in bits on a chocolate cake.  Just a deep thought for the day.

Mon, 01/24/2011 - 12:41 | 898969 ArrestBobRubin
ArrestBobRubin's picture


Old Swiss proverb: "Own some gold and you'll never go hungry"

Another of gold's unique qualities: it heads the starvation thing off at the pass.

Sat, 06/18/2011 - 20:41 | 1381433 blunderdog
blunderdog's picture

I was at that party too.  That wasn't Goldschlager.  It was cinnamon mouthwash with some shredded aluminum foil mixed in.

Mon, 01/24/2011 - 11:41 | 898757 lunaticfringe
lunaticfringe's picture

There once was a man named Doug Kass,

Who thought he was bold, bright, and brilliant- but alas,

His predictions all foundered, his guesses all wrong,

And his mother now calls him- dumbass.


Mon, 01/24/2011 - 15:02 | 899527 Stuck on Zero
Stuck on Zero's picture

A limerick is 5 lines with meter:  AABBA.  Try again.

Mon, 01/24/2011 - 17:03 | 899994 Temporalist
Temporalist's picture

There once was a man named Doug Kass,

Who thought he was bold, bright, and brilliant- but alas,

His convictions while strong,

Were stupendously wrong

And his mother now calls him- dumbass.


I fixed it for you to make you happy...

Mon, 01/24/2011 - 11:50 | 898765 overmedicatedun...
overmedicatedundersexed's picture

the little man tries to buy gold cheap ..the big power brokers think how can we steal it all?

the mindset of the common poor man vs the rich elite, ..viewpoint.

one must have the mind of criminal to outsmart both..the criminal mind to think and act like the elite, the willingness to shear sheep.but it's got it's own downside...come the final reckoning.

Mon, 01/24/2011 - 11:48 | 898770 alexwest
alexwest's picture

why not to announce..

USA is yet unoffical numero uno enemy of Russia,, so another arrow into ..

#2 Russian CBR wont buy on market,, it will buy from locals.. and price will be what price CBR wants..

its called export tarifs,,,


Mon, 01/24/2011 - 11:51 | 898786 Xibalba
Xibalba's picture

I hope 'lil Dougie is right.

Mon, 01/24/2011 - 12:00 | 898817 LostWages
LostWages's picture

BTFD Comrades...If you miss out, tough shashitsky.

Mon, 01/24/2011 - 12:03 | 898830 goldmiddelfinger
goldmiddelfinger's picture

Russia buying doesn't matter. For now, gold is going down.


Do NOT follow this link or you will be banned from the site!