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Putin Says Russia, China Need To Ensure Security Of Their Gold Reserves
One week ago we reported that while Russia was dumping a record amount of Treasurys it was buying gold, or some 900,000 ounces to be precise. Today we learn that as Russia continues to purchase gold, and is likely taking advantage of the recent rout in gold prices, it certainly won't be storing its physical metal with any of the western Central Banks. According to Reuters, shortly after Russia and China announced their historic gas deal, Vladimit Putin said at the recent International Economic Forum, that Russia need to ensure its gold and currency reserves are secure. And not just Russia: China too. Because apparently when it comes to speaking for "hard" monetary policy, Putin is now authorized to speak for both nations.
From Reuters:
"For us (Russia and China) it is important to deposit those (gold and currency reserves) in a rational and secure way," he said. "And we together need to think of how to do that keeping in mind the uneasy situation in the global economy."
Putin also said China and Russia will consider further steps to shift to use of national currencies in bilateral transactions.
And while we are confident the entire world is enjoying the now 5 year long foreplay, the time may have come for the PBOC to finally reveal what its updated gold reserves are. Maybe it can use Putin for that too.
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NO if putin were really trying to be funny he would have offered GERMANY AND AUSTRIA a guaranteed cost free vaulting of their gold with a promise to return ALL physicall gold within a fortnight if requested---in order to stick it in the craw of the fed.
that would have been more putinly of putin.
THEN AGAIN-----SPAIN STILL ASKING FOR THEIR STALIN (MOSCOW) GOLD DEPOSITS BACK FROM BEFORE WWII. YEA----BEFORE WWII AND THEY STILL WANT IT BACK.
Wow that "Moscow Gold" story is something I'd never heard before. 500 ton of Spanish gold bites the dust to never be seen again. History does repeat itself when you hear of the USA's snail-paced return of even a small portion Germany's gold.
Barclay's and JPM will probably find a way to lease and rehypothicate Russian and Chinese gold in stored in Cinese vaults. Maybe through a synthetic derivatives that flood the paper markets and push he spot price lower. The possabilities of paper gold are infinite.
Failure to deliver on Russia's COMEX contracts will not be tolerated.
All these plates in the air are getting quite interesting.
Looks like Ukraine wasn't nearly enough with Afghanistan, Libya and Iraq falling apart and now Georgia is back???
America's 21st Century version of the "gold standard"...
Guess one way of looking at it, is it allows the CBs to use the U.S. military to loot everyplace it goes and that includes at the end of the day "phyzz" to be brought back to "Liberty Street" for continued dumping in the hopes of keeping USD at the "TOP"...
Top of what is the question???...
Well, Mr Putin knows where the West´s weakness is : bust, bankrupt and penniless....
Putin makes his money the same way Soros makes his. Get contol of a commodity or currency and whipsaw it around. When you know what is coming down the pipe, and how that will affect the price of related assets and debt instruments... open up the vault and let the trucks drive in.
Putin et al stand a very good chance of cornering the gold market. At some point in the not too distant future, watch the price action.
+1 - but I prefer to know what is coming down the pike (instead of pipe). Or maybe that was intentional? If so, bravo for the word play.
Think sludge or worse...
Except I think you are all paying attention to the wrong PM... It will be Palladium, not Gold.
he can speak on my behalf too.
Just when you think Putin is playing Chess, the Chessmaster whips out the Monopoly board. And he already owns Boardwalk and Park Place. Well played.
The big barrier called Putin
... and the suspension of the global economic oligarchy's plans for Russia
http://failedevolution.blogspot.gr/2014/05/the-big-barrier-called-putin....
All Russia and China as well as other have to do is create worldwide mistrust in the US dollar.
Start by buy loads of physical gold and then paper gold.
Ask for delivery of the paper gold. Bet the paper gold has less than 10% physical backing it. Blow up the exchanges and get the panic starting.
Monguls
The Square heads and Mountain Krouts will never see thier gold .
China won't stop buying gold for their national reserves, matter of fact they're just getting started.It's still very early in the game.I should have said that they won't stop buying gold EVER.Even if the reserves were at 10,000 metric tonnes it's just barely getting started.The Chinese also mentioned once that the policy would be reconsidered in 300 years!
The gold reserves vaulted at the Bank of England that last week was reported being planned by the Austrian central bank has been conducted and was part of a routine series of audits by the bank and its results will not be made public, a bank spokesman said today.
http://www.gata.org/node/14031
In other words - BOE -IOU gold, unless of course you leak the information and we definately wont be able to replace it.
But the Fed is a very secure spot. They've been storing the worlds gold for decades without any trouble at all.
In fact I asked Ben Bernanke just this question when I saw him last week and he showed me a photo dated January 2014 of all the reserves sitting in the Fed's vault with the Fed board pictured.
It was in black and white though.
And everyone in it had moustaches. And didn't appear to be any board member I know of.
And a calendar on the wall in the shot said 1956.
But still. It filled me with confidence.
golden opportunity to gather his little eastern european eggs back into his nest
and then more, china needing more room too.
will see how tuff obama is soon, my guess, not so tuff
we be trouble
!!!!! YIKES !!!!!
Did Putin say "deposit gold" or "store gold"?
Because if Putin said "deposit gold", that implies the leaders of Russia (?and China?) think in terms of letting others hold onto their gold for them... namely BANKSTERS.
If this isn't a mis-translation or simply mis-spoken, it reveals the very nasty, destructive mindset of "let banksters control everything" pervades even Russia and China. That would be sad.
russia + iran = china's saudi arabia ...
ukraine = russia testicles
russia took 2 georgia staes for pipeline route control
we took ukraine to trump the move.. and access ukraine women
now if we export LNG to europe the balls get ripped off
let russia and china play their game
the fed will buy what T bills they dump... directly or via Belgium or whereever and the printing presses continue to roll... the west passes around useless worthless paper and all is well...
ussa can always build more factoies in mexico and cut transport costs for cheap shit it gets from china... in fact that would pump the mexican economy and incentivize them to stay ihome.. it's only the libtards that want them to cement their hold on the government by incentivizing illegals with free shit and amnesty... ussa great place, streets lined with gold... and lawn mowers
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Thorium and lithium air batteries.
Leave these turd world scum sitting in the dark, greasy and dirty with all their oil.
•?•
V-V
'A Marriage of Friendly`Convenience: A borderline conceptual and twisted... 'menage'a`trois?'
rather than dull the readers mind , here are a few past and present reference points one should indulge/ delve ones thoughts into: http://en.wikipedia.org/wiki/Sino-Soviet_Treaty_of_Friendship_and_Alliance http://en.wikipedia.org/wiki/Sino-Soviet_Treaty_of_Friendship http://en.wikipedia.org/wiki/2001_Sino-Russian_Treaty_of_Friendship
Ps. as a better understanding of Sino/Chinese -Russia/USSR, and how 'The Chinese Conquered China' by Anne Louis Strong Review, with a selected periodical of 'Mao and Marx': http://docs.google.com/viewer?url=http://64.62.200.70/PERIODICAL/PDF/SaturdayRev-1949nov19/18-19/
http://espressostalinist.com/2013/04/26/anna-louise-strong-stalin/ http://en.wikipedia.org/wiki/Edgar_Snow
Edgar Snow the man that opened up China to the west! not Kissinger the real commi?!
follow the time line from WWI (Bolsheviks [1917?]), WWII, V-J Day, Chinese Civil War(1945-49), Korean War [1950-53], Vietnam [1959/61-75?], Yugoslavia (80's,-90's), Berlin Wall (Warsaw Pact [1955-91]), USSR dissolves 1991,... etc.,...
COLD War now Hot/Luke Warm War,...
Ps. Remember-- it was the British and the US that colonialized Eurasia, and made exploitation another name for slavery-- think India/ Pakistan/ China/ Hong Kong/ Japan/ Korea that enjoyed their isolationism... until?
jmo
we'll i said what i wanted, thankyou Tyler
sorry if i bored you with this abstract analysis of a past that just won't stay in the perverbial closet...