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Putin "Prepares For Economic War", Buys Whopping 55 Tonnes Of Gold In Q3
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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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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better to have gold than paper
Russia is not going to fight any conventional war except maybe to defend a relatively small piece of Eastern Ukraine, and Crimea, if the real nuts get Kiev to go for that.
Ivan will launch nukes if NATO crosses Russia's border.
Ivan's Option.
I'm not sure why on earth anyone could belive you could blockade or totally embarago Russia. Look at a map.
I'm not sure why on earth anyone could belive you could blockade or totally embarago Russia. Look at a map.
i got der peters projection mapas
and russia is tiny the uk is real big sea
come on soldiers we can win this.
with beliefs and a willigness to change
we can
lets roll
vodka in vladivostok by christ mass day watcha say
Field Marshall Sir Bermard Montgomery: "There are two rules of warfare: 1) never invade Russia, 2) never invade China."
Gold IS money.
Where's the data for ISIS?
obviously somebody out there thinks they are selling at a high or they would not be selling it. Time will tell who the dumb fuker is but my money is on putin to take the dumb fuker crown....
He is a liar and a theif...
He will get his in the end....'
But then again all of our polititians fit the same description...
Oh well, maybe they will all meet and burn in hell!!!
Actually we will be the ones burning from nuclear flames from all these fuckers. I see you enjoy the digital fiat fuckery. We shall see how it treats you and all of the rest when your bank account is looted like a fresh whore when the ponzi scheme unravels
99% of the gold being sold is certificates, paper that is. Eventually, someone is going to ask for physical gold in exchange for their certificates, but, they will be told sorry, we're out of gold at the moment, we'll give you a different type of paper instead, federal reserve notes. Fed notes have exactly the same value as gold certificates, the only difference is the paper is cut in smaller rectangles, which might affect the way you wipe your ass with them.
Kazaksthan wtf
dem arabs needs to be mi6,cia,mossad fredomized
just like saddam and gaddaffi yes sir.
for the histry books
ukrainia never had any gold ever
EVER
anyones sayin dat non existunt gold was renditioned to london,new york and tel aviv is an evil doer
and will be new new seal team 6 captured and bin landin buried at sea see
the loophole in the petrodollar scheme is to exchange the dollars for gold. so what is happening to the dollars used to buy the gold? anybody? anybody? shouldn't it show up somewhere in enough quantity to make a market or is it an easily hidden blip in the forex market?
Colonel, thanks for the link on Tulving's implosion. Wasn't aware. Hannes seemed like a stand up guy. No Chatty Cathy but reasonable.
Looks like an MF Global-type operation for the little guy. I can imagine Hannes came under some pressure. Certain people probably did not like his business model.
The take away is fear.
zoloto suki
?????? ????
It means "gold bitchez" in Russian.
Helps ruble how again?
For thé last year all the gold sites have assured us the vaults are empty - obviously not the case if central banks are actively buying!
¡ZOLOTO SUKI!
What an expression on Obama's face...
Hey Barry - show Vlad where the bad man touched you!
pot and kettle - YOU WIN THE LOTSOFFUN COMMENT OF THE YEAR!!!
yes!! yes!!
and what is best is - it is so true.
because barry told vlad ' i will be more flexible .....' and he was.
and he enjoyed it. and would do it again.
and i can not blame him - i respect real men also.
but what real men do with each other is another thing.
barry had to be told by us that it was a violation. barry didn't mind being violated, he liked it,
except his violation was ours also and we did not agree to it.
Doesn't seem like the type of guy that wants to create nuclear winter. Dude wants to sit fat and happy surrounded by gold.
i dont think that buying 55 tons of gold means war.what about buy low sell high
Every ounce Vlad buys is one ounce less that washington's bankers can't get their hands on.
Eye yam bye in, two, cuz chi knees and rush ins sum art.
One thing is, if you have a lot of physical you will be able to pay for anything you have to have - then and there - regardless of where the ruble, or dollar, or whatever, are trading at the time.
Exactly TiB. This is what a reserve currecy was supposed to be. The dollar no longer foots the bill.
Buys gold in reaction to crashing currency. Does not work, should be the title
Early days QP. Early days.
Who's Idea was it to take on Putin
and to throw a coup in Kiev
somebody needs to go to jail
Who?
The Tribe who owns Leisure Suit Barry.
Of course they are buying gold; the Chinese as well. At some point in the future, one or both, will back their respective currencies with gold and end US financial dominance very quickly. See how fast hyper-inflation hits the United States of Detroit.
www.traderzoo.mobi
Yup...agreed..this they will work in concert with China and they don't even have to fully back the currency with gold or silver...just a small percentage being backed by some pm and that's it game over for usd
Listen Zero's.
Listen Zero's.
Listen Zero's.
OK, so the BRIC (South Africa is a nothing) will start with a gold backed currency to get people to buy into regional currency and drop the dollar. Isn't that what you would do?
Later they can drop the gold backing, just as the US did under Nixon.
What's underground is worth warring for, too late for the great prevaricators in DC and New Yawk.
The .1% are too busy plundering America instead of making smart and judicious moves....Just another facet of a total, all encompassing oligarchy. But we have a democracy, you say? You've got to be shitting me....
The greatest heist in the history of mankind.
Over 1.4 trillion gone without a trace or question.
So large the mind dismisses it as imposible.
Knowing the details will get you renditioned.
Let's see... Gold? Paper. Gold. Paper? Paper gold? Hummm... let's see... I KNOW the answer to this is here somewhere... Ummm... How about starting with paper, and trading it for gold? Yeah! That's it! Oh... wait... what FOOL would be willing to trade gold for paper? If I could only find someone... Maybe Vlad would know someone?
If I only had some paper, I could buy a crapload of gold... but I used all the paper out in the outhouse. Now, see! You can't wipe your ass with gold!!! (Unless it's paper gold... which isn't gold at all. It's paper. And now we're back to... ) Gold? Paper...
I need both...
At the right time, of their choosing, China and Russia will Pull the Plug.
It's coming.
Get Ready.
i know i am really retarded, but where does one find 55 tonnes of gold to buy? fort knox?
i would love to sell him my stash, but unfortunately, when i moved recently, i left some boxes behind.
55 tonnes? somebody has that lying around in inventory to sell?
can anyone explain? thanks - !!
Last time I checked, Germany is having a hell of a hard time trying to get its gold back from the NY Fed.
"re-hy-poth-i-ca-tion - The process that is used to screw Germany out of their gold. (syn) Steal."
Deutschland of no nukes. Angela talks , no one listens. Putin Motherland of many nukes, they talk everyone listens except the neo-cunts.
With a smidge of editing this could be the Haiku of the week.
Props.
They forgot they made money leasing it out.
Is it cool if I borrow the title to your pIece of shit car and "lease" is out to 5 or 6 people? I bet I can make a killing.
They do, no dividend on gold so lease to as many as you can. Put on different timeframes. Explains why they said 7 years to get it back. If they get it back they will lease again but from Germany.
And dont forget that someone cant be expecting their 55 tons to worth more in the future.
The Fed's man in India Rajan helped. He did a Gold Swap with Indian Gold reserves from what I recall.
http://www.reuters.com/article/2014/07/02/india-cenbank-gold-idUSL4N0PD3...
While Indians buy Gold their ( err The Fed's) Central Bank Chief believes in giving it away.
And like Germany- will throw up his hands when the gold does not come back.
But of course he would have accomplished his brief.
In eastern europe, particularly former soviet states, people have been selling LOTS of gold to pawnbrokers at less than $25 per gram for some time now... many pawnbrokers are located in BARS - "Sedim,have a free coffee or beer, while Sergey gets gold xray gun..." and actually lease x ray frequency analyzers. YES, there's that much gold there.
In the past couple of years, it's been estimated that there has been more than 8 tons of SOVIET gold coins bought by these shops owned by Russians, not to mention generations of dental gold, simple jewelry, and computer parts.
That's actually a LOT of gold... and there's still plenty more waiting to be refined, if not just reminted or recast.
Too bad the Chinese just aren't buying like they used to...
I hear yah lakecity55 but Putin has to get China fully on board. Agreed it is a matter of timing but China is the sina qua non.
With oil at $74 and the ruble falling through the dacha floor, Vlad is in the process of eviscerating his remaining $400 billion in his slush fund. He's got $128 billion of capital outflows in 2014 alone and Russian companies need to refi more than $100 billion in the next year. All in all, a rosy future for Soviet Union V2.0!
It's going to be a Snovim Godom for Vlad and Russia in 2015!
What are you saying, Am Pat, that all of America's oil producing allies are doing the Hokie Pokie about $74 oil? And that the large American producers are tickled pink about lowering the price of petrol at the pump under $3?
Did your little brain ever consider that oil is dropping in price because the triple dip recession has decimated demand?
Nope, you just like to visualize Putin tossing guys, who coincidentally look a lot like you, over his shoulder and pinning them on the mat.
Don't worry about where Russia is going to get al that money. Bernanke is due in Moscow around Christmas and is going to teach them how to print.??????
(pechat')China.
Can we get some gratuitous judo flips to the mat from Vlad? He's a frustrated lad, the US having handed his head - oops, his currency - to him. Today's WSJ reports that Russians are rushing to unload their currency before prices rise in reflection of the devalued ruble.
30% loss against the dollar since the beginning of the year...ouch!
Oh, dude
Are you still plucking the string of Putin's judo flips?
It's getting ancient.
Say something bad about Putin's 55 tonnes of gold.
Tennessee Ernie Ford
Russia, China and the rest of the BRICS are quiet right now about obtaining huge quantities of gold.
Soon enough they'll announce a gold-backed currency.
Maybe those holding non-backed fiat will realize their hold a potential 0.
just remember that someone sold it. He should have waited unitl it got to 900. In the end though gold is all to the good!
Not even Russia wants rubles.
so all the CB are buying gold - what are you all whining about.
55 tons is 2 billion dollars, every Rouble fell 25% 2 billion is a fart in the wind.
I found an answer to the articles question and its not war
http://russia-insider.com/en/business/2014/11/14/10-11-13am/exclusive_ru...
Most Russian gold mine production is sold to domestic commercial banks, such as Sberbank or VTB, which can then sell the metal on to either the central bank or to foreign banks.
This year, sources say, foreign banks are holding off buying Russian gold after Western powers implemented sanctions against the country over the Ukraine crisis
The central bank has therefore had no choice but take domestic mine production that cannot be sold to foreign banks, two sources said, and has bought most of the metal that commercial banks had available.
do not understand the down vote.
I read this fact not on russia insider, but (as well) somewhere else last week.
Kazakhstan stacked 1.6 grams per citizen.
Stack On
it is repoted central banks have been buying gold since 2009.
i'd have to say russia is buying phys, but maybe these other cb's are just un-leasing their own small gold stocks, stored at their cb's.
i'm afraid switzerland, at the end of the month are going to find themselves just as germany, BIS gold bitches.
buy gold the price goes down, increase oil production into a weak market, whats next print money, keep it, then make some else pay for it.
Despite the recent weakness in gold the gold:oil ratio is going up and has gone from 14.8 to 15.6 recently due to weak oil prices. Gold is doing what it is supposed to do, maintaining purchasing power. The dollar is in a speculative bubble.
Number 2 is Kazkhstan, which is working on customs union with Russia. See some pattern here?
and down another $10
Oil and gold? America Fixes Russia's Wagon.... film at eleven.
Good job and Kazakhstan - wow, smart folks!
Is that real gold or paper gold? And, if it's real gold, will they be taking delivery or trusting that it is actually in Goldman's vaults, and not lent out 30 times over.
The amount of yellow lead reburied deep underground will have no decisive benefit in the coming conflict.
Really bizzarro when you think about it: humans spend huge amounts of time & resources to dig gold out of the earth and then rebury that gold deep in underground vaults, really illustrates that gold DOES NOTHING OF VALUE, in fact gold consumes resources FOREVER, first to dig it up and then to protect it. A collossal folly.
How much of it was bought by the citizens looking to protect themselves against the falling value of the ruble?
To read chart 6 you need a fine arts mayor.
So if Russia alone bought 55T that must mean that the supply of deliverable gold far exceeded 55T in order for the price to drop so severely, right?
Bullshit.
The numbers don't tell the full story. They only tell the "official" story. The Chinese, Indians and Russians will be laughing their ass off when the Dollar turns to toilet paper. And the idiots cheering the current Dollar rally will run out of tissue paper.
He's just looking to invest in something that doesn't go down nearly as quick as the Ruble. He could have just bought the Toronto Maple Leafs and beat the Ruble.