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Russia Has Begun Selling Its Gold, According To SocGen
A few days ago, we first reported a rumor that was floating around Wall Street desks, and which, according to some, was the "reason" that gold was being kept lower even as sovereign risk was exploding around the globe. The rumor was that Russia was selling its gold holdings:
Rumor Russia selling gold
— zerohedge (@zerohedge) December 15, 2014
This led to Bloomberg speculating, and us rhetorically asking, if "Putin's next step will be to sell gold"
"Russia is at a critical juncture and given the sanctions placed upon them and the rapid decline in oil prices, they may be forced to dip into their gold reserves, if it happens it will push gold lower." That is what, according to some people Bloomberg has quoted, is in the cards.
While some suggest the accumulation was "tradition" it is still nonetheless an impressive aggregation of the barbarous relic:
So given the efforts to build this gold-backing for their nation's currency, do we really expect Putin to now dump his physical: or perhaps more strategically suggest a true gold-backed currency and jawbone the currency that way?
So what is the truth? Well, we won't for sure until the next official report by the Central Bank of Russia hits the IMF database, but in the menatime, SocGen just reported that the selling may have started:
Looking at the correlation between gold and oil prices, the chart above illustrates that both commodities were moving closely in tandem over the July to September period. However, this link was broken in early October when gold embarked upon the new rally on weaker US dollar and some physical support, while oil prices continued to slide. The rally, nonetheless, proved to be short lived, as gold returned to its downtrend after hitting the $1,250 level on 21 October, and continued to move down, along with oil, for the remainder of the month.
Starting from November we have seen gold and oil prices moving in opposite directions again. As we mentioned earlier, oil prices came under significant pressure on concerns about a growing global oil supply glut. On the contrary, gold recovered some of its earlier losses, supported by fresh buying interest in India on the news that the Reserve Bank of India (RBI) was reviewing gold import restrictions that were introduced last year. Towards the end of November, the RBI surprised the markets by announcing the withdrawal of the 80:20 rule, which saw gold imports surging to 150 tonnes that month, according to the latest statistics from the Indian Ministry of Commerce and Industry. In addition, worries over the potential impact of stronger US dollar on the global economy spurred some safe-haven buying.
...
It is not surprising that Russia has been tackling its financial problems by selling the gold they have been accumulating. According to the IMF data this year, one of the world's largest oil exporters acquired 115 tonnes in the January to September period, and added another 18.9 tonnes to their reserves in October. Russia has been purchasing the yellow metal at a faster pace this year, taking advantage of lower gold prices and, perhaps, preparing for the possibility of a long-lasting restrained relationship with the West and economic downturn. It appears possible that the Central Bank of Russia has started to sell off some of its gold reserves in December, with some sources reporting that official gold reserves dropped by $4.3 billion in the first week of the month.
Of course, it should be noted that SocGen and its "sources" have a conflict: in an indirect way, none other than SocGen is suddenly very interested in Russia stabilizing its economy because as we wrote before, "Russia Contagion Spreads To European Banks : French SocGen, Austrian Raiffeisen Plummet" which also sent SocGen's default risk higher in recent days. So if all it will take to stabilize the RUB sell off, reduce fears of Russian contagion, and halt the selloff of SocGen stocks is a "source" reporting what may or may not be the case, so be it.
In any event, keep a close eye on the next update of Russian official gold holdings: it may well be the next big story of where gold is headed and, if true, an even more important question will be who is Russia selling its gold to.
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Bad idea.
"It appears possible"
LOL !!!!!
SocGen is short gold according to Russia.
Bullshit story.....all noise Putin knows what's comin' ......
http://www.gold-eagle.com/article/grandmaster-putins-golden-trap
These gold lease rates indicate that it may be possible SocGen is full of it:
http://www.kitco.com/charts/popup/au0182lr.html
I thought Russia would pull the plug before it parted with the Au. Oh well. Maybe the rumos are untrue.
In similar news, I'm proud to report that I got a blowjob from Christy Turlington last night...
Very interesting to listen to Paul Craig Roberts today. Telling it all:
http://usawatchdog.com/is-ruble-collapse-act-of-war-paul-craig-roberts/
In any event, keep a close eye on the next update of Russian official gold holdings: it may well be the next big story of where gold is headed and, if true, an even more important question will be who is Russia selling its gold to.
Now this some funny shit. One of zhs favourite absurd theories comes crashing down...but don't worry! Who's Russia selling to? China?? Soon china will swap to gold standard and USD will be worth nothing!! Sure, that would crater their economy.. but um..who's china selling to???
In other news, Stox currently in freefall on the back of low oil price!! It's all overrr
Can't understand. Why would they sell the Gold if they can unload part of their $200 billion held in US treasuries? Something is not right here. Or they cannot sell the US treasuries?
Folks, We Are BullShitting You ...
We bullshitted some folks..
<- Russia Has Begun Selling Its Gold, According To SocGen
Who ya gonna believe?
It's obvious to me: Russia would rather buy Comex futures than worry about physical. What, with transportation charges 'n all, futures is where it's at baby!
And the other point I want to make is that in war, truth is the first casualty. I don't believe what ANY western bank says or does. They're all insolvent and will die soon.
Please tell me SocGen isnt quoting the defunct business insider story...
http://www.businessinsider.com/russia-gold-hoarding-ruble-problems-2014-12
This was FOREX reserves not necessarily gold...
Russia maybe selling a portion of its gold like SocGen says...maybe the Russians did some testing on recent gold purchases (they bought so much recently), found some tungsten filled bars in their purchases, and is offloading these worthless bars in the markets while they still can.
Wouldn't they do the testing before taking delivery in the first place?
Why sell it for shit dollars when you can use it to underpin your rouble and make it strong overnight. Total BS story.
It's sand. In 100 years it's still gonna be sand.
http://y2u.be/VI6tBwVjyOY
So, if Russia sells it's gold to China (The Golden Hoover), does that or would that affect the SCUMBAG, FRAUDULENT, CRIMINAL, CARTEL MANIPULATED PAPER MARKET????
I mean, fuck...Say Russia sells it's gold to China for U.S. T's...Russia can dump those T's for China, right? Or something like that. Dump those T's for dollars to spend on all those China/Russia projects that are lined up and ready to go and would be all at the expense of the SCUMBAG, FRAUDULENT, CRIMINAL, CARTEL FEDERAL RESERVE and at the expense of the American public.
Is Russia and/or China really in a bad spot here with relatively low debt, high FX reserves, especially in U.S. shit paper that WE have to pay for when they DUMP it, massive phyzz gold holdings compared to the U.S., and they can just use all that to build pipelines, buy more phyzz gold and silver cheap on the back-side, buy more oil cheap, drive down oil prices which are crushing the U.S. oil projects and shitty levereged loans (which will cause major bank defaults along the way to a massive crashing domino effect), and fund the rest of the Russian/China/BRIICS strategic plans to exit the shit U.S. petro-dollar and end the dollar as the world reserve currency.
What's the West gonna do? What's America going to do? You know what I see our SCUMBAG, FRAUDULENT, CRIMINAL, CARTEL, MARXIST, TREASONOUS, government doing right now?
Well...they just overturned the one small portion of the Dodd-Frank bill so that the banks can risk everything we've got on more casino derivatives all at our expense and their profit!!!
Wow....NOT WINNING. I'm pretty sure Russia and China read ZeroHedge, HAHAHA...unlinke 99% of most Americans and probably most Euro-Peons as well, so I'm pretty sure they know what our CON-gress critter scum just did to allow these criminal banksters to destroy the system all over again.
I'm pretty sure they know what to do to deal with that and to prosper from it when there's serious blood running in the streets after all this totally goes nuclear meltdown.
So fuck it. As I always says, bitchez...KEEP STACKIN' THE PHYZZ!!! It's on sale still...get it...got it...good.
Don't usually reply to myself...haha...
But speakin' of stackin' phyzz...just checked my email, and Silver Doctors (no affiliation, ;-) has silver Buffs on sale any quantity right now for .75 over spot!
http://sdbullion.com/silver/generic-rounds/1-oz-silver-ntr-buffalo-round
Just sharing the X-mas love, bitchez.
Don't buy any Chinese bullshit for Christmas.
Give all your friends and family some kicks ass, brand new, nice and shiny phyzz silver Buffs, Eagles, Maples, Phils, or any other awesome private mint stuff that you choose!
Don't give them any stupid gift cards, gift certs, cheap-ass clothes, stupid fucking video games, flat panel TV's or whatever, yadda, yadda, yadda.
Give the gift of silver...insurance outside that criminal bankster system with no countery party risk and a preservation of wealth! Plain and simple.
Educate your friends and family this Christmas. Give the phyzz silver. But also give them an education. I recommend a couple kick ass books:
The Creature From Jekyll Island, END THE FED, The Road To Serfdom, Liberty and Tyranny, The Liberty Amendments, Currency Wars, The Money Bubble, Strategic Relocation, you get the drift...And give them a book with a silver dollar with it.
WAKE THEM UP!
Give them ammo if they have guns of the caliber they own. Give them some Mountain House food storage or other stuff like that. Water filtration systems (I recommend Pro-Pur), etc. etc.
No more bullshit from China...make it count. Give them a 1/10 Gold Eagle. THEY'RE ON SALE AND CHEAP AS HELL, BITCHEZ!!!! Or give them 20 ounces of Buffaloes or Eagles...still cheap as fuck!
MAKE....THEM....THINK!!! USE YOUR GIFT TO WAKE THEM UP!!!
It's the gift that will keep on giving. ;-)
Who is this Socgen idiot, and why should anyone beleive them?
This rumor has been dispelled- http://goldchat.blogspot.com.au/
Russia would never sell their gold.
Russia is spreading the rumor to drive the price down. It then uses its foreign reserves to buy physical gold. Win. Win.
Gorsh I can't tell...Does anyone here make money selling PMs?
fake frog information,
russia do not sell gold, it buys gold...
i fixed it for you :)
Who said they ever 'took delivery' in the first place?
Think about it....Russia buys 55t of gold....how much you think they were able to get their hands on phsycially. Now, if you are sitting in their position, why not sell the 'gold' that you have paper on (and not the phyzz). Gets them out of a whole on currency problems, drives the price of gold down further, plus, if things went really bad, the West would just seize the 'paper' gold anyways....sounds like a perfect plan. Now, see if they are soaking up phyzz under different entities all the while.....
What better way to drop the price of gold. The Russians may do just the reverse of what they are "rumored", e.g. buy as much gold as they can and back up the truck - and pay for it by ditching their supply of US Treasuries... Kills two birds with one stone.
Russia has other choices than to sell gold. In fact, they can sell paper gold if they want to and demand physical delivery from Comex; that would be a firework. Selling physical would be the dumbest option. They could first dump their treasuries or denominate oil sales in rubles, just to mention a few. One should not make Putin a total idiot.
SocGen's wishful thinking transformed to neocon's propaganda is understandable. Spreading it out here is much less.
Rumor says....
You don't spend all that time buying gold just to turn around and sell.
Putin is still a few moves ahead...
Russia suddenly woke up and realized gold is just a barbarous relic. Better to keep those paper reserves backed by their enemies. Much more valuable and a better defense against sanctions.
"Or they cannot sell the US treasuries?"
Actually they can sell their US treasuries. They can use them like China has been doing by trading them for foreign assets.
Above all, they can trade them with an entity that can sell/trade them elsewhere. Like China.
My point is that China can, and probably is, serving as a great go around of the Zionist west's financial acts of war against Russia. And the west will have a difficult time trying to stop such actions, as then what will be available for sale in Walmart, Taget...?
The banksters need to repay us.
Criminal Fraud UNITED STATES, CORP. INC. are useless IOU's.
"Should read:
"Russia used $4.3 Billion in gold in trading to circumvent the USD....."
Indeed, they should do the contrary, peg the Rouble to Gold
Folks, I told you yesterday I was in negotiations with Vlad to purchase 2 or possibly 3 kilos of gold.
My price is 800$US per ounce, but negotiations are continueing. I will keep you appraised.
These media pieces are just the western banker mafia informing Russia that the pain will all stop if Russia just hands over the gold.
Have they not been consulting with you??
I would believe this if it were front page Enquirer before SocGen.
What Putin needs to do is to send a "salted" bar over to SocGen, only don't use Tungsten. Sure the weight would be off, but I'd love to be there when they drilled it.
Someone correct me if I'm wrong here.
There's a difference between sales of Russain gold production and Russia selling its gold reserves.
Russian gold reserve = zero reason to sell an oz.
Russain gold production = almost no external Q2, Q3 sales because of sanctions and Western banks scheming. Russia reluctantly buys it up for their own gold reserves.
Global supply suffers during loss of Russian production. Gold lease rates eventually skyrocket through end of November.
Russia and India (and China) chat it up, bypass USD and Western banks, and India (and China) start buying damn near all Russian production starting in December. Since there is so much demand from either country, Russain production purchases are not that big of a deal to them. To Russia, it's just 'normal' gold production sales like it was before sanctions - just different customers and NO USD involved - China and India have currency swap agreements with Russia.
Lease rates drop Dec. 1st because of the restored supply from Russian production. The effect is only temporary because of huge demand. Lease rates start climbing again because there is still not enough to go around. This will eventually be manifested in higher gold prices, which the West is actively fighting for some reason.
Russia IS selling its normal gold production again, just not in USD. It is NOT selling its gold reserves for any currency. It does not want to or need to sell its reserves.
Bypassing USD sales of gold has thrown a monkey-wrench into the Western banks' ability to supress gold prices at will. Western banks are panicing because they're losing control and probably have a bazillion USD in derivatives going south since they can't force gold lower - at least as cheaply as the scheme was previously costing them.
Oh - and none of that is good news. Western banks might have finally screwed the pooch in gold manipulation, but they will never lose their money. How convenient that the bank derivative welfare act was recently passed.
Better get the 160th SOAR's black helicopters to start evacuating the Federal Reserve District offices NOW. The wood chippers are coming and they're hungry for some fat-ass Ponzi banksters.
I have a feeling when all of this is over we might be saying:
"well that escalated quickly..."
...and hopefully there is a message to future generations that think ponzi's are a good idea.
Hopefully we are actually still around when this is over so we can say... anything.
The way I understand Russian gold production and sales: Russian producers cannot sell directly to international buyers. They sell all their production to a few internal (to Russia) dealers at market rates. These internal dealers then sell to foreign buyers. Where it gets hazy for me is what entity in the Russian government bought the gold that the dealers could not sell (because of sanctions/banks). If the Russian Central Bank bought the unsold gold BTW, then they paid in rubles, not USD.
One possible reason for the appearance of sales by the RCB is if they originally had to buy the 122 tonnes of unsold gold from the dealers. I used the term 'reluctantly' because they had no intention of adding that much to their gold reserves that quickly - they just had to buy it per some kind of agreement with Russian dealers otherwise stuck with it earlier this year. The RCB would have had an equally difficult time selling that much gold if Western banks were reluctant to make any sizeable deals in USD with Russia.
The 122 tonnes ($4.5 billion or so) was sold by the RCB at the beginning of December to India or China. So the RCB *may* have done the selling, but this was never really 'reserve' gold as far as they were concerned. They simply acquired it as a result of arrangements with Russian producers and dealers markets and finally unloaded it.
For the West, it means they are now permanently locked out of 50 tonnes a quarter of Russian supply they use to be able to count on. If Russia can get the same prices in direct sales to Chinese and Indian markets, then there is no need to go through Western bulliion banks and their USD financial clownfuckery.
The question is then: How many times did Western bullion banks re-re-re-hypothicate the Russian gold they previously bought? They may have shot themselves in the foot by snubbing Russian dealers earlier this year. $8 billion or so a year in Russian physical goes a long way when you leverage it 20x on paper and keep rolling it forward. Now Western banks have to unfuck themselves from all that paper leverage they can no longer roll because they just permanently lost access to 200 tonnes/yr of Russian physical that kept part of the Ponzi going.
If lease rates explode in the next few weeks, then you know every bank is trying to be the first one out of the Ponzi. They better have their WWIII false flag all set up - they're going to need it this time.
The question is selling gold for what? if you sell gold for rubles you have a gold backed currency. If you sell it for euros you have a euro backed currency. If you sell it for oil then you have a... Ya cause thats how you get gold into the finacial markets. You need a currency to buy a currency. Whats in your currency?
.
This appears to be true, according to unnamed sources.
Did it happen after watching this clip?
https://www.youtube.com/watch?v=9zS_OPmASOc
Nice!
Is that a before or after photo, cause she looks a bit concerned...
Me too!
In similar news, I'm proud to report that I got a blowjob from Christy Turlington last night...
What, you too???
To the Chiners?
Gold for Yuan
Yuan - Ruble convertability
China bails out the "might" <cough, cough> Russia ! LOL !!
So much for Putin being a bad ass. Get back on the pony in the mountains and take your shirt off Putin. The natives are restless for more propaganda.
Again, another totally blank statement founded on nothing.
Hey fourth douche bag
You dipshit cocksucker, where's the statements now about how absurd an idea that Russia would be selling gold?
Oh yea that was yesterday's propaganda
Fuck you and obey your master, the USA
Vlad is raping your cunt tree
I think your yarmulke is on a little tight today.
Buy high, sell low?
socgen has more exposure to russia than any other large bank so they need russia to have a stronger currency therefore this rumor circulates. it's not really about the price of gold, but mroe about the rouble
GOFO has also resumed it's descent after a brief respite following the rally.
Someone is running out of gold again. Maybe SocGen?
*Market Fixing data reproduced by kind permission of the London Gold Market Fixing Ltd .
http://www.lbma.org.uk/pricing-and-statistics
just like he knew how Merkel was gonna react? Like he knew what impact the sanctions would have? Like he knew what oil prices were gonna do? Like he knew the rubel was gonna collapse?
Putin knows about as much as you do - which is precisely nothing. You and your upvoting cohorts are delusional...
If anyone on ZH really thinks that Russia is in such bad shape financially as to have to sell it's gold then you have to be taking crazy pills , the Ruble has been hammered by traders not by bad manufacturing . If Russia wanted to take down the western financial market it could do it in the blink of an eye , all of what you are seeing is in the playbook between BOTH superpowers this is all been done to bring the American people to there knees .Look what Obama has done to the nuke stockpile the minutemen , the Generals , the army and giving Islands off the coast of Alaska to Russia for long range bomber refuiling and the list goes on we are the ones who are getting set up and we are not going to stop them untill it is to late .When American troops withdraw from Europe that will be your last chance to get out of America if you stay you will find out what a meat grinder feels like
What products does Russia manufacture from cabbages and turnips?
Your anti-virus software.
Outside of specified range. See following post...
Thanks for reminding me..
My Kaspersky needs renewing..
Gold, Platinum, Palladium, Rare Earth Metals, ICBMs, Rocket Engines, Tanks, Spacecraft, Fighter Jets, THERMONUCLEAR WARHEADS, Nuclear Submarines, Radioactive Bomb Material, and...oh yeah...Natural Gas and Oil,
Good luck living without Platinum and Palladium. As industrial catalytic metals they are a necessity. And only two countries mine these in any measurable quantity. Russia and South Africa...BRICS Nations.
I've been wondering the same thing.
The United States is totally reliant on Russia for Human access to the Low Earth Orbit International Spacestation.
The Atlas V is powered by Russian built RD 80s.
Even the new Heavy Lift Rocket will be reliant on Russian Engines.
Good luck building American Fighter Jets without the Rare Earth Metals necessary for the electronics and the catalysts. We, the United States is absolutely dependent on Russia for PHYSICAL SUPPLY.
Now you can be a stupid little troll and deny that dependency or you can attempt to demonstrate that I am somehow mistaken and that we can do without. But when I write a list of the things which Russia does produce and you ignore the FACTS and write bullshit then it is TROLLING.
The sad part is that it will not change any facts.
Now if you believe me to be "Pro Russia" or "Pro Putin", well, man, have you have got that wrong.
I am ANTIWAR. And America's warmongering must come to an end.
So go and fuck yourself.
Tommy..fuckhead
Fuck Russia, the US is not dependent on that shit hole wasteland of nuclear mishaps
Did russia build US space program, did Russia help US get to the moon on the Saturn 5
US will do fine, but due to Vlad the bear is now in solitary confinment, and the one person that has the ability to change that prefers instead to inflict at least 2 years of suffering upon its citizens
The only stupidity and trollish view is to deny the above
Right Tommy douche bag?
Yep, just "one person". This is a ridiculous statement. Is there anyone who has been on ZH longer then 6 months who believes that there Is one person who makes these decisions. The number of true decision makers is much smaller then most folks believe, but if you believe any of these are the politicians elected by the masses, then I believe you are mistaken.
Dup
Abitdodgie. It's those facts, yes those pesky facts that expose that you are a lying Fucktard propagandist
Fuck you .....and now suffer the damage that has been inflicted on Russia and it's citizens while Vlad placates and only takes care of his elite friends, while the proloteriat. suffers
Truly makes you an evil lying cocksucker-butt fucker, and/or just a plain old vanilla fucking ass hole
He can sell paper gold, just like the PPT.
Whats the problem?
He's just trying to avoid becoming Sheldon Adelson's pool boy. Because that would be a shit life 4 sure!
SocGen shorting Gold = Beep, beep, beep. I'm doing my part. :-)
Redshield puppets!
Deliberately False Story on Russia Gold Sales, or Just Sloppy Reporting?
http://winteractionables.com/?p=17161
.
Ummmm..... yes?
Concur with your YES. This article is just sad. I'd rather see another celebutard story.
Dear Tylers, why the need for bankster propaganda on these pages? Slow day for real news? Seriously, I can go ahead and turn on CNBC or read Bloomberg if I want evidence-lite MSM crap. Do another caption contest or a 'most sexy' vote for banksters or something, if you must.
Please do not assume your readers are complete idiots. We already have several channels out there where the muppets roam free.
If you're going to feature propaganda, at least don't make it 1) obvious speculation ("may be"?) 2) evidence-free and 3) flying in the face of all logic and reason.
Thank you -
a very long-term reader
I'm astounded at the level of bullheaded determination from DC to control Russia at any cost. They are willing to let our socio-economic structure collapse if it takes down Russia. If they spent this much energy stateside half our problems would be solved but they are bent on subjecting us to a Pyhrric victory.
Russia is a gas station pretending to be a country - Mccain, and the dod NEEDS a new gas station - Baldrick
"It appears possible"
Maybe we'll get enough gold to be able to give it back to Germany.
Then again....why would we want to do that? Hell......let's just keep it! Then we could open up Fort Knox to tourists again.
It appears possible that I'm really Santa Claus too.
If the Russian central bank has been selling gold, their life expectancy just dropped to zero.
SocGen just got the"news" from Bloomberg... a day later.
Putin should take some of his Treasury bonds to the CRIMEX to buy some physical gold. I think the CRIMEX will deliver gold if you have cahs in your hand.
Crimex lol , I like it :)
.
Unnamed government official who was not authorized to speak to the press reveals that Winston Churchill is Santa Claus, confirms the Weekly World New York Times.
Simplest answer for Putin would be to announce all oil contracts will have to be repaid in physical gold at the spot price on delivery. SWHTF and WWIII would soon follow, but it would be hilarious until the ICBM's launch.
Pull my other finger.
"it appears possible"
And I give that a 2/3 = 67 per cent weasel-words quotient.
It also appears possible that Soc Gen's report is a howling blizzard of shit.
...and the moon is made of green cheese and the fudgepacker in chief is not a liar...
actually, it's HOLLOW... The 'green cheese' is only on the outside...
I'm just trying to keep the 'TRUTHINESS' aspect of this thread alive.
Carry on as you were.
whatever ... i dont believe but really does it matter?
these guys got tens of thousands of tons already stored in mountains up Switzerland, they will control the world anyhow, does it matter the few hunderds Russia have?
they stold whatever the Tsars had longtime ago anyhow
you dont believe it? is that because youve been brainwashed to believe gold is the answer to the worlds ills? ponder a question: why hasnt russia backed their currency with gold? after all, wouldnt that stabilize the ruble? we are always hearing from tyler how much russia has been stacking( cue the putin holding gold bars pic)--clearly that you believe? well perhaps evidence is pointing to the fact that gold isnt the panacea everybody on zh thinks it is..........but alas, im sure the the zh community will come up with some conspiracy minded response to the question of why russia doesnt use their gold instead of selling it......probably the rothschilds fault...or aliens....yes definitely aliens......
Better luck next time kiddo.
no worries fuu, the compassionate caring chinese will sacrifice and bail out russia. they will save them from having to sell their gold......yes it will be a tag team against evil america. china is always a great team player.........still waiting for the gold backed ruble......still waiting......
Still waiting for that rate increase too...
stopping the incremental increase in qe could never happen.....
tapering could never happen.....
ending qe could never happen.....
rate increase could never happen......
"the US is the new gold"
That was pure gold kito. LOL...
BOP wake up man....you have been flat wrong about everything...i have been flat wrong.....and tyler has resorted to bullshit headlines and low grade links to con artists in order to subsist......i know, you will tell me all about fiat and printing and manipulation and cental banks and the cabal and aliens and blah blah blah.....RESULTS prove you wrong.....FLAT WRONG...u.s. stocks, u.s. bonds, u.s. real estate..dollars.....the world cant get enough..thats FACT..you think russians have been racing to convert their rubles to gold???hahahha..try dollars and euros BOP...and gold???? nobody gives a shit outside this website...but YOU WILL NEVER WAKE UP..you are in your own doomer blue pill world..stuck...... oh man, funny. russia selling gold!!!! nobody has answered my question WHY ISNT RUSSIA BACKING THE RUBLE WITH THEIR VAST AMOUNTS OF GOLD BARS?
Wow, I was just having some fun with you. Relax...it wasnt personal.
Apparently you don't think much of ZH, the Tylers or myself. That's okay man. To each their own.
I do beg to differ on your view of US stocks, bonds, RE and gold though. Time will tell I guess.
BOP i got no beef with you, the tylers on the other hand have absolutely sold their soul.........
Kito, keep up they sold this website as well some time ago is my information. The Russians back the ruble with gold all alone and they will shortly have no gold, why did Nixon stop convertibility again? Didn't it have something to do with the surrender monkey french wanting gold for all those dollars they were holding? As I remember it also had something to do with an extraordinary privilege we enjoyed..
Just wondering
That Chessmaster Putin is great at Buy High - Sell Low
Keep on stacking Vlad? Gold Backed Ruble Vlad?
Only believeable by some ZH simps.
look, you are a simpleton-you PROJECT that others are, just look in the nearest mirror for the nearest simp-why bitch and weep? just leave ZH_and dont let the door hit you on the ass
Why should I be bitching or weeping.
Shorted GLD at $1248 when VLAD and ZH simps were backing up the truck.
Sell GLD Vlad. Make me some more money I'll help his selloff by covering at 1110.
Vlad will never back ruble with gold. Reserves would be exhausted in a few days.
you know nothing of economics, let alone Russian intentions-if Russia goes to a gold backed currency as they plan together with China, the world will dump worthless dollars like used toilet paper. Bye Bye America
Still waiting on other things:
Until then it's just some failed criminal nations bickering like little bitches.
...and that doesn't even take into consideration the war crimes awaiting prosecution.
Fair enough.
Duuude, ever since Fonz got the boot kito's been a mess.
Actually, seeing kito show up again might be a good indicator that the bottom is in for gold now.
hey kito, you must be missing francis sawyer ... sorry but no cigar
"aHoy" Arius, FS is closer than you think........at least FS kept it real....
You like the idea of giving unlimited power to money printers don't you? Just make your point short and sweet and save us the blather.
heh, kito just likes to troll now and then. I remember kito.
He was OK, and he was sometimes funny. But I'm guessing his feelings might have run a little high when some of his friends were treated badly here. He's no longer a regular.
Now he likes to drop in and stir the shit now and then on the anti-gold articles.
I like to think of kito as the anti-gold article police. His trolling is a nice disincentive to the Hedge from publishing obvious anti-gold propaganda like this.
(Hey, this article is nothing but guesswork and shit analysis, and I'm betting it's more useful guessing about kito and other past members than thinking about this lead piece. Sad days.)
how can you be a regular when this site has become nothing more than a shell of its former self and tyler now runs an internet based supermarket aisle rag? im here to wake people up. hey man i was hook line and sinker on zh....right with the program....but i see it for what it is now..... if i can save just one it will be worth it.....
Carry on man, I have no problem with you. I wouldn't go so far as to say "shell of its former self", but the site has certainly seen better days than this one.
oh yes the money printers!!! hyperinflation coming coming coming!!! always tomorrow!!
Hyperinflation? Ok whatever, what about the unfairness of it all? They don't have to actually produce anything of real value and 99.9% of us do. Denominated in units of account that they create from nothing.
How can you support such a system once you peel back the curtains, so to speak, and see how it really works?
What about backing a currency with any other commodity, silver copper wheat or sea shells? anything to put the brakes on proligate spending by corrupt politicians...
I mean really, where are you coming from? You prefer to give in to get along? like giving your ass to a rapist without a struggle. "Here you go mr tax man, take 30% of my ass now and do be so kind as to give me refund later"
edit - ok, I just read one of your posts above. I got it. You're burned out on the message and disillusioned with the delivery (here on ZH). I do agree to a point that what the 'world wants' is houses in USA and dollars etc etc...I have no further to look than my own friends and family to see this, I attribute it to mass psychology. Conditioning.
But there is a limit to credit expansion in a world of finite resourses. It cannot go on forever.
Walk your book like you talk it, ace.
Vlad will gladly sell you some treasuries. All you can buy.
Did he take delivery? My guess would be the fifty tons was based contractually and therefore contingent upon delivery. With the collapse in the ruble that contingency no doubt failed and the gold plus the profits reverted to the previous owner.
If Russia or China try to back their currencies with gold while the banking mafia still control America then it will probably go nuclear. The banking mafia's control needs to be at least weakened first.
Kito, It has far less to do with how great gold is, and much more to do with how failed the fiats are. They have run their course, and you can not replace an unbacked fiat with another unbacked fiat. Simple as that. Gold is just a really good alternative to back your currency with, along with a short list of others.
As far as why Putin has not backed his currency with gold already... the answer lies in that it would not be advantageous for anyone to back their currency with gold at this time, as the dollar still pulls weight, less they would find all of their currency converted to gold and soon left with none. See history of the ending of Brentenwoods for further explanation. There will be a time for backing currency with gold, and the dollar will be far harder to kill than most believe... but its death is a mathematical certainty.
fun - right on.
dp
wait, so its better to sell the gold???? for what? DOLLARS perhaps? gold backed currency, in the eyes of the ZH rabid followers and the "austrians", brings confidence and credibility to the currency. i can see how even this basic tenent is being ripped apart....the new line is that "somewhere in the future" there is a better time to back currency with gold...not NOW...when its the obvious time to test the pro gold theory....no in the future....yes you will be right....one day...in the future...how sad.......
Timing is everything. And we can't control the stupidity of the masses. They will be fleeced by their own ignorance. History is filled with the carcases of people who were broadsided by a pervasive reckoning. You would do well to hope you are not one of them.
Soc-Gen is a lying puppet of the NWO. Putin is simply waiting for the RUB's bottom, then he will buy it all back with USTBs. and China's support will come in the way of more USTBs with which to do this.
In baseball terminology, they are now playing hardball. Putin is simply waiting for his pitch before knocking it out of the park.
total BS psyops story
http://winteractionables.com/?p=17161
"The source for the story is Vestifinance published in Russian. If you’re using Chrome, you can right click on the text and select “translate to English.” Then scroll down to the bottom of page and you’ll see, under publisher’s information, this: © RTR. Is an integral part of BBC News ."
Interesting link ... Thanks !
It's a bit of a cosmic joke that at the end, when the entire farce collapses, it's possible that no government, will own a single ounce of Gold or Silver...
But who will build the roads?
So much for that Russian 'Gold standard.'
As an owner/buyer of AG and AU I'd love to see prices explode, but I've become pretty convinced that they won't. At best I'll maintain my purchasing power, but in a true deflationary crisis (bank runs, banks going bust) even that will be a challange. Still, it's better than owning nothing (i.e. paper) or be heavily indebted, so that's why I buy it. I hate to say "told you so" but neither Russia nor China will ever introduce a gold standard.
Fiat currencies have 'worked' since 1971 (at least that's what the mainstream media, the politicians and the banksters will brainwash the sheeple with), so even if/when our current system goes tits up one day, the Chinese or Russians (if they're still relevant by that time) will just reinvent a new and similar fiat system.
The toothpaste is out of the tube and fiat currency systems are just too temptatious for politicians and banksters. People are too hooked on iGadgets, a house, a car, holidays etc to give it all up and revert to a New Normal under a gold standard.
Bokkenrijder
Another great post!
If Putin is selling gold, it means the Money-Powers are in full control.
By Marius, at Real Currencies:
I can see your point that Putin is not doing enough to get rid of Money power. But you have to be aware that Putin is not all powerful figure and probably as half of real power of what Stalin had or M. Gorbachev had. It is a myth created by the same money power.
If you study Russian history you would see that even at the height of soviet power Stalin did a lot to undermine the Babylon guys but never dared to challenge them openly and at the end they killed him as he was a major threat to their empire.
As you now, fiat money is backed by aircraft carriers, atomic weapons and other military power. nothing else.
If you can not match your opponent with that kind of power – you stay quite, or you will get Qaddafi destiny.
I would say that the time will tell.
https://realcurrencies.wordpress.com/2014/03/27/enough-of-the-putin-worship/#comment-19039
Why not? He is selling his oil.
Don't confuse the Central Bank of Russia with "Russia."
Indeed, the former may be in league with western banksters against the latter.
That is exacly right. It is the high up Atlantic sympathizers who are not aligned with Putin that are the threat. Not the "west" nor NATerroristOrg.
JFC, this site is fast becoming a joke.
JFC, this site is fast becoming a joke.
You're right. It should have worked! Wouldn't be facing the catastrophic building failure of the financial house of cards we built if we had done both of those right the first time!!!
https://www.youtube.com/watch?v=gnI76OIabY0 (6+ minute clip)
If you disagree with what he says, please chime in and be specific. Otherwise your junks are not helpful (do not add value) in this case. Unless you're an Asshole who likes to shoot the 'messenger' -- hey, I just acted as a 'Reporter', fool!
Wouldn't want to be SocGen when they have to retract that statement?
Bloomberg is like the poor guy at the end of the longest line to the bar bathroom sweating profusely with his knees pointed toward each other ready to scream "I'm gonna pee myself"!...
That's how desperate the situation is for them!
"Wouldn't want to be SocGen when they have to retract that statement?"
They will retract it about as loudly as the World Gold Council retracted its Chinese Gold Demand numbers when when some outsider with no experience named "Koos" proved them utterly incompetent. They, and the other financial institutions were so quick to credit him rather than plagerize his work too I notice.
I still remember gold falling n 2013 as they screamed about the collapse... COLLAPSE in Chinese demand even as the "sore loser" goldbugs came up with cockamamie theories about how huge amounts of the stuff were being shipped to China through Swiss refineries.
Of course the bugs turned out to be totally right about that minor detail, but who is keeping score eh? You're not one of those conspiracy nutters are ya?
Yes of course "For Whom The Bell Tolls" just like GATA, the London Whale and LIBOR all got LOUDLY retracted...
Actions speaking louder than words... All those Eastern European satellites to the West just waiting to jump to the other side because they know they have bullseyes on there backs... In addition to the insolvent USD what else does Tel Aviv and Washington have parked in their embassies and those ABM batteries?...
This time you'll know the goldbugs were right and Russia didn't hand over it's phyz like Ukraine did when the Chocolate Jew is hanging upside down without a pulse where it all began last year in Maidan Square with a parade of Ukrainians wearing St. George ribbons and the rest of the Country starting with the Donbass region goes AWOL demanding a referendum to join Crimea because they know they've been screwed by London, Tel Aviv and Manhattan that got them that way!
Washington will attempt to stop it but it won't work. You'll know I'm right when the next "MH-17" happens in the neighborhood and nobody again will be buyin it. Then Moldova, Latvia, Estonia, Lithuania and Hungary will be ditching their chains for that "phyz" and all the gas and oil Russia will be giving them.
When Germany is the next on the list to come off the fence with blackouts of major announcements from the government then the fun begins.
This is when you know you're a total loser!
"the chocolate jew hanging upside down' ...guess my visualization...
I call BS. This is the next destabilization phase after the attack on the ruble earlier this week.
Hey, whatever happened to that New York Post story about Putin having cancer a couple months ago?
Or the one about Russia negotiating to turn Crimea back to Ukraine?
Or the one about Russia exchanging Snowden against an end to sanctions?
Or the one about those darn stolen ATC audio tapes of the downed MH17 flight?
Look!? A squirrel!! Putin baaaad - Castro goood!!
Putin has to have the goods on the MH17 flight, including recordings of the ATC communications. I don't know why he's holding back.
Never lead with your trump cards.
Never lead with your trump cards...
Sure you do. When you're trump tight.
Are you saying he actually has some loser cards?
Leading trump is appropriate when we're 2 years from the end of play. I'm very apprehensive of the US' hand at the end of this deal when all we have left to play is the Hillary / Bush 2 and 3 of clubs junk when we need to catch the final tricks.
jmo.
He took vitamin b-17 and cured it.