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Russian Banks Buy 181.4 Tons Of Gold In 2013
With headlines crowing of gold's worst year since 1981 as a signal that the status quo is winning and proof positive that fiat-currency naysayers must be wrong, it would appear that the rest of the world's central banks (and banks) have used the price depreciation to stack the precious metal. As Bloomberg reports,
- *RUSSIAN BANKS BOUGHT 181.4 TONS OF RUSSIAN GOLD IN 2013: RIA
- *RUSSIAN BANKS BOUGHT ALMOST 90% OF RUSSIA 2013 GOLD OUTPUT: RIA
This 5.834 million ounce addition (8.3% YoY) is more than double that of Russia's central bank additions in 2013 with Bitcoin-favoring Sberbank piling up 48.5 tons alone in 2013.
Russia's central bank added 2.485 million ounces to November - so the bank additions are very large...
Biggest buyers according to Finance Ministry include Sberbank (48.5 tons), VTB (38.9 tons), Gazprombank (29.1 tons), Nomos Bank (19.6 tons), Lanta Bank (8.6 tons).
So, like China, we are sure Russia will be sending a big "Thank You" to the Fed (and BIS) for their efforts.
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This is why the saying goes: "Sell once Central Banks are buying"...
Are ZH writers 12?
Sell when nobody even yourself, your wife and parents beg you not to sell while people pass on stocks paying 8-10% dividend yield. There will be such a time when nobody wants financial assets and people who want to swap their gold for finanical assets are considered insane. We are not at that point yet by any stretch of the imagination.
Whatever. You're spouting YouTube bunker-dweller rhetoric.
I like gold and it's still in a bull market and will go up again, but ZH seems clueless sometimes. Like pretty much everyone who follows financial markets knows you never fight the FED, sell gold when CBs are buying, etc. It's all been smart advice this time around, too, despite the doom and gloom end of the world talk.
I'm just an equal opportunity propaganda hater.
Well...everything is propaganda so just label yourself a nihilist and call it a bad 2013.
That's pretty much what I do. Sometimes the bullshit is too much and I lash out. I have to bench press my girlfriend while watching Jim Cramer so ZH is still one up on the mainstream media.
Gees, just at the moment when I thought all my tungstun was gone! Photo op.
Meanwhile... Canada Selling Last Few Ozs Of Its GOLD!
WTF ???
RESULT: AMERICA Will Be Broke!!! LEFT Holding ALL THE FUCKING PAPER!
No will be, IS broke already!
Devo,
So is the US central bank buying gold? Hmmm... news to me. I guess I should sell it then - except, they're NOT buying gold. Foreigners are to diversify out of UST's..... the writing is on the wall for the US dollar.
Which life raft do you want to cling to when the ship sinks?
bought from whom?
devo -
one should do the opposite of what WESTERN central banks do, which is buy gold at the highs and sell gold at the lows. western cb's also tend to telegraph far and wide what they are going to do, so that their citizens can get front-run by hedge funds and other traders.
on the other hand, EASTERN central banks (from eastern europe, through the middle-east, and asia) buy gold when it falls. They rarely sell it, except during crisis periods, which I'd argue is exactly when anyone should consider selling. they do not pre-announce that they're buying; they try to do it quietly and in a way that will not increase the price of gold. they have so much in governmental savings (forex reserves) that they are constantly evaluating the best holdings for; it benefits them when prices of assets they want to accumulate decrease in nominal terms of the other reserve assets they hold. they tend to post-announce that they have bought gold, if they announce at all.
Gold Backed SDR & the Yuan
http://twoshortplanksunplugged.blogspot.com.au/2014/01/gold-backed-sdr-yuan.html
I live in Canada, people and government here are beyond clueless. Remember, 2008 had little effect on most people here(due to epic amounts of debt racked by gov't to hide the effects), so don't be surprised by Canadian govt stupidity.
The govt is selling really old, bent, (probably tarnished) gold coins for more than their melt value. Those 1-800-sell gld ads work.
I like Candian gold more than Canadian beer. American beer is mainly dog piss.
This is good advice all the way up to the day the Fed LOSES control and the economic forces of nature overtake it.
Tick. Tick. Tick.
Regards,
Cooter
I cant vote you up scoots whats up with that
ZH operates under the pretense that the market is rigged and that CB's not only buy gold, the lend it like FRB. In an unstable environment like this its impossible to predict when the game is up. however, when the time comes, you will most likely not be able to find any gold for sale. You mad bro?
Isn't "you mad bro" some obnoxious millennial saying from urban dictionary or forums?
That's a stupid thing to ask someone.
But yeah, I understand their thesis. Do you understand there have been guys predicting this since the 1940s? Yes, it will come true one day due to sheer mathematics, but ZH would do everyone a much greater service creating models to predict that exact day. That's at least interesting. Instead they instill fear so paralyzing people dig holes in the ground and live there. It's propaganda. Now with regard to this article, everyone who follows gold has heard that you're supposed to sell once CBs buy. ZH seems clueless to this. They seem amazed gold is down yet CB buying is up.
I think you tipped your hand right there. :-)
Regards,
Cooter
"Isn't "you mad bro" some obnoxious millennial saying from urban dictionary or forums?"
well no shit. do you have aspergers? the only argument you have is that, "it hasnt happend yet so it must be a lie".
come at me bro
Logic 101: The fact that something has not happened has nothing to do with the chances of it happening in the future. If it had already happened, the chances of it happening again would likely go down, particularly if we're talking about an event like a market crash or Black Swan.
So, the argument that it hasn't happened, therefore it won't happen is illogical. Referencing contributing factors, which can affect the likelihood of the event taking place, is the logical approach to ascertaining the chances of the event taking place.
No idea if I have Aspergers because I don't know what diagnosis entails, but even if I do, that's your retort? To make fun of a serious illness. Good one. You're a classy guy.
I have Asperger's and I would likely crush you in any form of competition, mental or otherwise. We Aspies tend to be very competitive. ;-)
Ah ok, so not only are you a prick, you are also a sophist and an ignoramous.
@ Devo "Like pretty much everyone who follows financial markets knows you never fight the FED, sell gold when CBs are buying, etc."
Why do you look at "central banks" as a single entity? The Fed is not buying Gold, they're selling what's left of the country's Gold. The Central banks of China and Russia are doing exactly what's in the best interest of their particular Nation.
Questions: Are the western CBs selling or buying? Is there any gold in Fort Knox? Why is the gold price so low when demand is so high?
I think that if demand for something that has staying power like gold is in high demand and you can get it at a fairly low cost then you should get it. If prices rise, you can sell. If prices lower you can buy more.
Your point of view seems to be that it is a short term speculation. I think most here look at gold as a long term store of value, an investment. I also think people need to start differentiating between investing (long term) and speculating (short term) when discussing their own little points of view.
I suppose if you thought that the fed could print money forever with no toxic side effects i.e. total economic collapse then ya - why fight them....
But I am of the opinion that you cannot print trillions forever - that the global economy will collapse - and it will happen very quickly - like it was happening in 08 until it was bailed out --- this time there will/can be no bail outs.... there will be a last gasp of massive printing --- then there will be a massive implosion (explosion?) leaving all asset classes virtually worthless.
EXCEPT GOLD --- because gold has never and will never be worthless.
And when this happens YOU will be eating dog food - warmed over a fire of plastic bags under a bridge - and your daughters and wife will be whoring themselves to pay for your grand meal - and I will drive by --- and spit you
I suppose that doesn't apply to treasuries....Or your logic is just upside down
Not really, because that's not a 100 year old axiom tied explicitly to treasuries. Let's keep things real.
I agree, let's keep thing real. But then, gold priced in paper isn't real, is it?
I don't know how to answer that. I see guys selling it at the spot, paper price, so I conclude it is. You're basically saying CEOs who operate mining companies are stupider than you, me, etc. I also see it all over craigslist near spot price. If you mean GLD is fake, then yes, agree totally.
Yes. Was ref GLD, AGQ, ZSL, and the myriad of other derivative plays.
Devo: historically that adage holds true.............I digress and state the current state of affairs is atypical, abnormal and ANY reliance on past observations and trends is moot.....and can be quite dangerous and fatal!
Unprecedented policy can have chaotic outcomes!
China buys gold
Russia buys gold
US prints fiat
Japan prints fiat
Winners/Losers
@williambanzai7 tweeted 30 Dec :
There are signs that say do not flush foreign fiat down the toilet.
you are against the tradition.
Are you cenile?
Yeah, well, when the check cashing places, pawn shops, and jewelery stores take down their "We Buy Gold" signs, then I'll start thinking that PMs are no longer a buy. 'Til then.....
Barbarians!
And Central banks are always right except for the last 100 years of Fed disasters.
"And Central banks are always right..."
Which central bank. Every country has one?
Having reached its goals in 2013, the Central Bank of DoChenRollingBearing will be buying less gold in the future.
This does not mean that our Bank is less confident in gold, merely that the Bank has attained its real goal: diversification!
If only 1% of Americans own any physical gold, their Central Banks better start moving while there still is gold.
jump on board everyone - let's do what the communists do
When you say communists I'm guessing you are talking about the current occupant of the White House. According to Reich we are all socialists now.
Russia and China trying to pull a Lybia.
That is not allowed.
No, I pulled the Labya and got my hand slapped once.
I think GT was thinking of Libya, not labia.
by saying that they are trying to pull a Libya, are u saying that the USA and France are going to go in and bomb em???.. Bwhahahahahahahba please... Wake up
My god, once Russia and China (let alone Venezuela) have enough physical they can destroy the US economically by raiding treasuries/spiking interest rates...decimate the west without a single nuke.
I was wondering the same myself. It's always been protrayed as the US against the communists. I think we are about to feel the squeeze.
When the Roman empire finally fell, the germanic armies that sacked Rome were looked to as liberators by the people outside the capitol. We are basically at that point now, if not very close.
Reminds me of Putin. At least he is a man and a leader who cares somewhat for the Russian people. Bring on the liberators.
Without realizing it, what most people admire about Putin is manliness and masculinity. Something we haven't seen in the west since the feminazi's took over decades ago. BTW- After the germanic "liberators", there were many 100's of years of "dark ages" for the west. The Roman empire actually ended in the 15th century at the hand of muzzies.
You are wrong on so many levels I don't know where to start. But keep believing that.
Saying "you're wrong" and running away without making an alternative argument is childish. Spend some time reading Gibbon and others and you may see my point.
Ok. You were wrong about the germanic tribes, they walked into a broken empire, like modern illegals do today. You were wrong about their role as liberators, that implies that roman citizens from england to asia saw themselves as victims of imperialism. You disregard the fact that the "empire" lasted for another 1000 years in Constatinople. You disregard the darks ages that fell upon western europe as a consequence. But if you want to believe in gemanic liberators, that's just fine with me. Let's test our knowledge, I'm expecting an educated response from you.
The roman citizens were enlisted and forced to act as tax collectors on their neighbors, others were forced into an effective caste system. The outlying areas were desperate against this situation. Rome was absolutely sacked. Those points are historical fact. The rise and fall are portrayed superbly in the series of paintings "course of empire" by Thomas Cole: https://en.wikipedia.org/wiki/The_Course_of_Empire
The eastern empire had been virtually independent since shortly after Antony's time. The dark ages are likely a bias of Gibbon as I believed he actually termed the phrase. There is certainly a reversion in industrialization, and the plague (which probably has more to do with the term than anything else). However, it's not clear that the dark ages were really very dark. Civilization simply organized itself differently. There were no monuments to "great" emperors, which are the artifacts that tend to last the tests of time. Comparing other civilizations concurs with this statement - Reference "Collapse of complex societies" a research of archeology.
Society at the time was certainly complex, and it's really impossible to paint every person with the same brush of opinion. I'll concede that history is really hard, and as much as it may appear that people felt this way or that, it's really simply an educated opinion.
Happy new year!
You make some good points. We'll pick up this conversation later or on some other thread. I'm busy servin drinks for the guests. Happy New Year.
The US will go to war if this possibility shows up on the radar.
Then they are a bunch of fucking cry-babies. They lost fair and square.
There are no losers, fair and square now means we all share.
Yes, I think this was the plan all along. It's already done.
When credit collapses, so will gold prices... thing is, good luck finding physical when that happens.
When real interest rates become positive, yes gold will collapse. But I don't understand what you mean by credit collapse.
When risk is correctly included in the price the interest rates will go much higher, and then the existing credit markets will collapse. Anybody holding 1% notes will lose their principle and there will be massive credit disruptions.
Credit markets have been driving the market expansions for 100 years, and why the FED is so strong.
They might bring out a new dollar in exchange for old based on your insured bank deposits. Sucks to be holding USSD outside of the system. Might have to give those holding USSD AND nukes a better deal.
Big Correction. When credit collapses, every asset whose price is driven by credit collapses.
Any time I have extra cash available, I buy it when it falls below $1200.
So simple.
I'd like to know how many Americans sold their PM, to pay bills. Bet ya there's more than a few.
But none of them are in the 2% of the population, where the Wealth Effect is bigger than ever.
Compared to their GDP, this is not very much. These Russians should take an example from the Chinese...
There will be a late push down to make sure gold closes below 1200 for the year. Slow and steady capping and dropping.
I'll buy treasuries again when they yield over 14%...not until then. The risk is too great.
deleted
Gold is pretty. I think I like looking at it.
WHAT???
You, good Doctor, are an apostate. You should be buying gold- buying it high, buying it low, buying it moar, moar, moar. Never think about selling it, no, no no. Do not even think about thinking about selling it.
But just looking at it? That's just plain weird.
putin is mad a lunatic to be buying at these high prices.
gordon brown of london and scotland has a nose for young boyz and a bigger nose for gold price.
nothing is new under the sun history is all you need.
the bbc say gold is a dangerous bubble.
browns bottom is the price are gordy sold the uk supplies of gold at a superb price at the time and way over valued in my book.
thank god
sorry thank satan for lord edywnne rothschild for helping team gb out with the purchase.
putting his hard earned cash monies into taking are scrap metal.
it just goes to show who your friends are in your hour of need browns bottom was scottish rite in this matter.
the raping of young boyze another matter all together.
The Joooos are well known shysters for trying to start a stampede, they will publicly sell gold and make much media noise and hype about it while their fellow tribe members are buying like crazy. That is why the World Jewish Congress wants the media in Joooo hands. They can control what everyone perceives, and that is the ESSENCE of the TRADE
The Joooos are well known shysters for trying to start a stampede, they will publicly sell gold and make much media noise and hype about it while their fellow tribe members are buying like crazy. That is why the World Jewish Congress wants the media in Joooo hands. They can control what everyone perceives, and that is the ESSENCE of the TRADE
Fuck the Fear Turkey - Alucard - TheCrimsonFuckr - TFS Parody
http://www.youtube.com/watch?v=CnxibprVzB8 (1:44)
Russian banks seem to be well capitalized then. Giving their European counterparts a run for the money going forward. Which Spanish, Italian, Greek, French, British and even German bank had the means and priority to buying gold over the last few years?
Impossible to predict just what the effects will be on the power and control structure of ECB, Euro and European sovereigns.
After the collapse and reset, Russia and China can buy the other half of Europe with a gold backed Rubel/Yuan reserve currency.
When gold is short at the Crimex, the fear mongering starts. Spineless jellyfish throw tard fits and pull out their hair and declare the end of PM's. Grow up and keep stacking. Gold is REAL MONEY.
My goal was to get totally out of debt. Done. I have no idea what to do now. Maybe buy some new underwear.
Getting out of debt is a wonderful thing. Bravo!
Keep saving and keep stacking.
Tis better to sit in a chair too long, than to be left standing when none are left available.
You really only need an ounce or 2 as insurance.
DA muthafucka.
How much physical gold did the USA government buy?
Probably a bit less than I did.
The World gold production has been growing since WWII, and was around 3,000 tonnes in 2013. China bought 2,000+ tonnes, Russia 181 tonnes. The rest explains why gold collapsed. Western Central Banks shorting/manipulating gold is not an explanation, because they can't add to their shorts forever. Lots of production, not enough gold bugs.
I've got physical gold, and bought gold miners ETF a few days ago. However, if the Chinese don't buy 2000+ tonnes in 2014, the market will fall another 30%.
The gold trolls ignore a fundamental reality. The Only reason gold is below 1,900/oz is the determined corrupt efforts of TPTB.
A 'market' price based on the selling of massive amounts of fake non existing gold holdings hardly represents the value of the gold. IF they had to actually go and get the amount of gold they have sold...then you would have a genuine market value of gold.
SO how much would the price of gold be based on genuine supply and demand....ie all that gold sold had to be supplied.
And how much are those Indians and SE Asians buying as well...Indians are trying every trick they can think of to get their hands on ever increasing volumes of gold.
So the value of an asset bares no relationship to the value/dilution of the currency.
Thus if the US printed 20 trillion in 2014 the price of gold will still fall 30% The US will print in excess of another trillion in 2014 ... not to mention China and Europe...and increase total debt even higher into the trillion dollar stratasphere.
Losers of the coming scripted war need hard assets to pay the reparations.