• 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...

Putin "Prepares For Economic War", Buys Whopping 55 Tonnes Of Gold In Q3

Tyler Durden's picture


Just as China is buying 'cheap' oil with both hands and feet, so Russia, according to the latest data from The World Gold Council (WGC) has been buying gold in huge size. Dwarfing the rest of the world's buying in Q3, Russia added a stunning 55 tonnes to its reserves, as The Telegraph reports, Putin is taking advantage of lower gold prices to pack the vaults of Russia's central bank with bullion as it prepares for the possibility of a long, drawn-out economic war with the West.

Russia bought more gold in Q3 then all other countries combined...

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*  *  *

As The Telegraph reports,

Vladimir Putin's government is understood to be hoarding vast quantities of gold, having tripled stocks to around 1,150 tonnes in the last decade. These reserves could provide the Kremlin with vital firepower to try and offset the sharp declines in the rouble.


Russia's currency has come under intense pressure since US and European sanctions and falling oil prices started to hurt the economy. Revenues from the sale of oil and gas account for about 45pc of the Russian government's budget receipts.


In total, central banks around the world bought 93 tonnes of the precious metal in the third quarter, marking it the 15th consecutive quarter of net purchases. In its report, the World Gold Council said this was down to a combination of geopolitical tensions and attempts by countries to diversify their reserves away from the US dollar.


By the end of the year, central banks will have acquired up to 500 tonnes of gold during the latest buying spell, according to Alistair Hewitt, head of market intelligence at the World Gold Council.


"Central banks have been consistently adding to their gold holdings since 2009," Mr Hewitt told the Telegraph.

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Thu, 11/13/2014 - 16:54 | 5445745 A Lunatic
A Lunatic's picture

Oh yeah, well we're investing in illegal immigrants.........

Thu, 11/13/2014 - 16:58 | 5445757 Haus-Targaryen
Haus-Targaryen's picture

I really like Putin.  I really do.  

Thu, 11/13/2014 - 17:01 | 5445774 BurningFuld
BurningFuld's picture

I may put Vlad on my Christmas Card list.


Thu, 11/13/2014 - 17:04 | 5445788 Colonel Klink
Colonel Klink's picture

Weird because Obamao isn't on anyone's Kwanza list.

Thu, 11/13/2014 - 17:13 | 5445820 COSMOS
COSMOS's picture

Makes sense why the USA and J-Mafia want Putin dead.  These crooks are after all that GOLD!!!

Thu, 11/13/2014 - 17:16 | 5445840 palmdetroit
palmdetroit's picture

Wow can't wait to use teh gold to buy things and trade and whatnot.  I'm sure the world will be a wonderfull place to live at that point.

Thu, 11/13/2014 - 17:21 | 5445862 COSMOS
COSMOS's picture

It will be wonderful if you have gold and silver.  Otherwise not wonderful if you hold paper.

Thu, 11/13/2014 - 17:26 | 5445885 SoilMyselfRotten
SoilMyselfRotten's picture

No wonder the price dropped

Thu, 11/13/2014 - 17:31 | 5445904 svayambhu108
svayambhu108's picture

Kazaksthan needs some democracy

Thu, 11/13/2014 - 17:49 | 5445979 SoberOne
SoberOne's picture

Money is gold, and nothing else. - some dead asshole

Thu, 11/13/2014 - 18:04 | 5446014 Manthong
Manthong's picture

"gold is money.. everything else is credit.."

I think that is what the dead asshole with a near Hitler 'stashe actually said.

Thu, 11/13/2014 - 18:37 | 5446131 Four chan
Four chan's picture

massive purchase drives gold to 300 dollars an ounce.

Thu, 11/13/2014 - 20:15 | 5446524 philipat
philipat's picture

The notable ommision being, of course, China. AT a rate of around 500 Tonnes pear year, PBOC would on a pro rata basis have acquired about 125 Tonnes in the same quarter. But, of course, WGC doesn't want to admit that China

s Gold demand, Official and Wholesale (SGE Offtake) combined, amounts alone to more that total world supply ex-China and Russia.......

Thu, 11/13/2014 - 20:23 | 5446559 DaddyO
DaddyO's picture

More press trying to drive the price down. Bad news trying to force the weak hands.


Everyong one better sell now so the strong hands can buy at a discount.

Can you say DumbA**es?

I knew you could...


Thu, 11/13/2014 - 20:35 | 5446610 toady
toady's picture

Did Putin take delivery?

Thu, 11/13/2014 - 22:07 | 5446926 Manthong
Thu, 11/13/2014 - 23:10 | 5447077 markmotive
markmotive's picture

Russia already has our critical energy infrastructure by the balls according to this


Fri, 11/14/2014 - 03:48 | 5447263 Paveway IV
Paveway IV's picture

Bullshit. (not you, markmotive - the ABC story itself)

US and Israel employed STUXNET to exploit security flaws in Siemens Step 7 SCADA software in 2010, which controlled industrial controller chips called PLCs which control all kinds of industrial equipment. The US and Israel were targeting uranium enrichment centrifuges at Iran's Natanz enrichment facilities. The same software was used to attack Iran's civilian power plants and a Russian nuclear facility.

STUXNET isn't the whole virus - it's the piece at the very end of the chain. The Iranian labs and Russian nuclear plant do not have direct connections to the internet. It's speculated that some innocuous piece of hardware was used as the mule to carry it in to the facility. It could have been anything connected to their internal networks - a copy/fax machine, a CD/DVD replacement drive for a computer or video surveillance equipment.

Russia is worried about this because the US already infected one of their nuke plants. The US and Israel (probably all of ZATO for that matter) are cooking up a good false flag to start WWIII. They blew the MH-17 false flag but still have the backer - psychopathic Jewish-Ukrainian oligarch Igor Kolomoisky - on their side. This is the guy that owns BUK missile launchers, fields his own army in Eastern Ukraine, owns the newspapers and TV stations, and runs the power plants. Like the Zaporozhye Nuclear Power Plant a few hundred miles north of Crimea - the largest one in all of Europe. He already tried to put together a scheme of flooding the plant and blaming the ensuing meltdown on Russian terrorists. It would be stupid-easy to release a huge amount of radiation from that plant some day, then blame it on Russian cyber-attacks instead. Shutting down a few plants in the US at the same time would add a little juice to evil Russian hacker angle.

The fact that the US and Israel made STUXNET is irrelevant - CNN and NYT will 'fix' that uncomfortable fact. I already see mainstream media priming the pump. The ABC article spouts the same drivel, dropping hints here and there about Russian hackers and vulnerabilities in our power grids, water supplies and ATM networks. Note that last one. If you need to start WWIII because your central banks screwed the pooch once too often, then why not toss in the ATM networks as false-flag targets, too? Dead people have lost their media impact. Russians interferring with American's weekend beer money? F'king LAUNCH!!

Take out the utilities and tank the dollar = martial law. Kill a bunch of useless eaters with radiation. Demonize Russia. Get chicken-hawk Israeli-firster congress to declare war. Lob a few ICBMs. Mission accomplished.

And all that before you hit the back nine!

Thu, 11/13/2014 - 23:44 | 5447149 jeff montanye
jeff montanye's picture

imo putin takes his first silver delivery in december.  possibly cooridinated with the chinese.  although both countries have motives, imo russia's are more pressing and russia has been singled out for particularly shameful abuse by the peace prizer.  read below and substitute accordingly.  how many fifty million dollars do you think mr. putin has in his own name, not to mention the resources of the nation he leads?


Fri, 11/14/2014 - 00:23 | 5447235 August
August's picture

He was going to, but the Perth Mint offered completely free storage, and zero shipping charges.

A deal so good even world leaders will jump at it!

Fri, 11/14/2014 - 04:49 | 5447531 Not Goldman Sachs
Not Goldman Sachs's picture

From who?

Thu, 11/13/2014 - 22:27 | 5446971 boogerbently
boogerbently's picture

In golds defense.

Despite the dollar rising because of the "cleanest dirty shirt" theory.

Russia, China, India, (everyone but US) buying gold.

They benefit ONLY when gold price rises.

World economy starting to trade "around" USD.

Manipulation of gold price down being openly addressed.

....Ahh, when to switch from DUST to NUGT ????

Fri, 11/14/2014 - 12:22 | 5448415 froze25
froze25's picture

If that is true then when you are paid by check or Federal reserve notes you are only recieving credit.  If that is the case then you haven't earned any income.  The IRS states that Credit is not income.  So have we been doing our tax returns wrong?

Thu, 11/13/2014 - 18:03 | 5446015 Escrava Isaura
Escrava Isaura's picture



A spectacle not to be missed!

Putin is hedging his coming oil losses by going after gold.

Wondering what Putin will do when that too (gold) goes down.

After all, US has both by the balls.



Thu, 11/13/2014 - 18:31 | 5446102 TahoeBilly2012
TahoeBilly2012's picture

I guess Putin didn't need a referendum. Hahaha! 

Thu, 11/13/2014 - 19:05 | 5446244 Took Red Pill
Took Red Pill's picture

and CHECK! Your move

Fri, 11/14/2014 - 09:53 | 5447930 quasimodo
quasimodo's picture

Listening to the song "Drunk Americans" by Toby Keith on the way to work this morning, I thought to myself "yeah, what the fuck.......this is the shit that so many dumb fuckers celebrate and sing along to"

We get what we deserve and what is knocking at the doorstep


Thu, 11/13/2014 - 19:07 | 5446256 quadratic_equation
quadratic_equation's picture

Hey stupid, the US has nothing but debt just look at your dollar bill and it says "FEDERAL RESERVE NOTE".  NOTE if you don't know is a promise to pay it's like your car note or mortgage note.

Thu, 11/13/2014 - 19:54 | 5446446 SAT 800
SAT 800's picture

The thing that always bothered me about this is that it is a promise to pay; what ? It's a promise to pay another "dollar bill".  For some reason, I always found this promise to pay me a dollar bill for my dollar bill as disquieting; even nervous making. Would you sell me your used Cadillac if i wrote you a note that said, "I promise to pay you another note that says I promise to pay you a note"? Somehow, I doubt it.

Thu, 11/13/2014 - 20:16 | 5446521 Escrava Isaura
Escrava Isaura's picture



Because you just arrived from Mars.

Give it sometime and it won't bother you anymore.

People believe in much worse things.

72% of Americans believe in Angels. 100% of the children believe in Santa Claus.

I was raised around both nonsense. 24 hours a day!


Thu, 11/13/2014 - 23:31 | 5447125 RafterManFMJ
RafterManFMJ's picture

My child does not, nor will she believe in Santa.

Because lying is wrong and trust once lost is seldom regained.

Hey, know what? I've never did the 'ol fake tennis ball toss with either of my dogs ... 'cause dogs ain't dumb, and wrong is wrong.

How big of a piece of shit do you have to be to get a stiffy over putting one over on a dog, or a 4 year old?

Thu, 11/13/2014 - 23:53 | 5447171 Incubus
Incubus's picture

Sounds like the way I'm going to be raising my kids whenever I have them.

You encourage them to buy into these delusions and you only hurt them in the long run. 

Fri, 11/14/2014 - 08:35 | 5447749 Escrava Isaura
Escrava Isaura's picture





Fri, 11/14/2014 - 02:25 | 5447430 StychoKiller
StychoKiller's picture

Santa Claus is the "SPIRIT" of giving, everything else is just visual aids.  Hmm, so much for trying not to be a D!ck.

Fri, 11/14/2014 - 05:18 | 5447551 ebear
ebear's picture

Santa Claus is the greatest marketing scheme ever devised.

Fri, 11/14/2014 - 07:17 | 5447628 SoilMyselfRotten
SoilMyselfRotten's picture

Move over Santa Claus, paper gold has knocked you off your perch

Fri, 11/14/2014 - 08:33 | 5447744 Escrava Isaura
Escrava Isaura's picture



Santa Claus fits the supernatural and ghostly nonsense. Kids are worshiping (believing in) some kind of fantasy.


Fri, 11/14/2014 - 08:06 | 5447684 winchester
winchester's picture

100% here thinks you are a senseless woman. go where you deserve, kitchen, & shut the fuck up, politics ain't for girls.

Fri, 11/14/2014 - 08:26 | 5447727 Escrava Isaura
Escrava Isaura's picture




Politics and manipulation are women's best tool.

You're clueless how the human brain works.


Fri, 11/14/2014 - 09:26 | 5447883 schadenfreude
schadenfreude's picture

Perpetuum Ponzi

Thu, 11/13/2014 - 20:07 | 5446485 Escrava Isaura
Escrava Isaura's picture




I said it before and I will say it again:


I believe gold will be the last bubble; but, a very short one. Here is why:


Central Banks/State Nations (where most bullion is) will convert their gold to jump-start their economies. Then, soon thereafter, they will face, I say face, because most of these leaders already know this but, they can’t admit it publically, there won’t be enough oil to grow these businesses anymore.


Here is when, even the low IQ people will know that their lifestyle, economic security, and their kids future are finished.


By the way: The next 1973 (oil crisis) I have it for 2019. But, this time around, we won’t be able to recover… Ever!


Thu, 11/13/2014 - 20:26 | 5446568 OW My Balls
OW My Balls's picture

Central Banks/State Nations (where most bullion is)




So THAT'S where all the gold is?... Thanks for your service as the official 'LOCATOR IN CHIEF' Snoopy...



Thu, 11/13/2014 - 20:52 | 5446680 Escrava Isaura
Escrava Isaura's picture



I said bullion (9999 finesse)

Central banks don't care about jewelry gold.


Thu, 11/13/2014 - 21:25 | 5446799 OW My Balls
OW My Balls's picture

OK... Since you're the expert on this...


1. What percentage of the world's 'ABOVE GROUND' gold is cut into jewelry?

2. What percent is purified into 'bullion'?


Because, from that logic...


- & NOTWITHSTANDING the relative 'inconvenience' [cost, etc] of refining 'jewelry gold' into bullion...

- & NOTWITHSTANDING the fact that central banks are candidates to be the ONLY entities with the werewithal to accomplish such a feat [such as they can print money out of thin air to facilitate the process]...

-& NOTWITHSTANDING that their 'post BRETTON WOODS' fiat ponzi scheme' has apparently run its full course & is in the process of being exposed...


Well, UMMM... tell me again why "Central banks don't care about jewelry gold."

Fri, 11/14/2014 - 00:48 | 5447290 Escrava Isaura
Escrava Isaura's picture



OW My Balls


World Gold Holdings



Bretton Woods: Dollar as World’s Reserve Currency. It means: United States would use the convertible financial system to trade at a tremendous profit with developing nations, expanding its industry and acquiring raw materials. It would use this surplus to send dollars to Europe, which would then be used to rebuild their economies, and make the United States the market for their products. This would allow the other industrialized nations to purchase products from the Third World, which reinforced the American role as the guarantor of stability.


A trade surplus made it easier to keep US armies abroad and to invest outside the U.S., and because other nations could not sustain foreign deployments, the U.S. had the power to decide why, when and how to intervene in global crises. The dollar continued to function as a compass to guide the health of the world economy, and exporting to the U.S. became the primary economic goal of developing or redeveloping economies. This arrangement came to be referred to as the Pax Americana, in analogy to the Pax Britannica of the late 19th century and the Pax Romana of the first.



And why "Central banks don't care about jewelry gold."

a) Because gold doesn’t generate income.

b) Gold will end up on the banker’s hands one way or another

c) The best gold has been mined already



Fri, 11/14/2014 - 08:10 | 5447693 winchester
winchester's picture


brettons wood is done, over, boom, gone.

Fri, 11/14/2014 - 08:42 | 5447765 Escrava Isaura
Escrava Isaura's picture



Life, as we know, will soon end!


Your picture, the rifle, is the next currency. What’s coming.



Thu, 11/13/2014 - 20:03 | 5446478 Bangalore Equit...
Bangalore Equity Trader's picture

Listen EI.

The Fight club gotcha on that one.

Thu, 11/13/2014 - 20:07 | 5446494 Escrava Isaura
Escrava Isaura's picture



No. They did NOT.

Both prices are going down.



Thu, 11/13/2014 - 20:23 | 5446553 Bangalore Equit...
Bangalore Equity Trader's picture


Let's talk about the value proposition. Your argument hinges on a few degrees. Face it. What's crude going to $25/bbl? Come'on. Gold at $995 is a strong psychological buy, real strong. Cost-constrained miners will start to dump reserves at $1050/oz to pay the bills. We're there.

Those sunglasses will hide the black eye so you're good.

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