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Russia Busts "Gold-Selling" Rumors, Reports It Bought Another 600,000 Ounces Taking Gold Holdings To New Record High

Tyler Durden's picture




 

Yesterday, when we reported the latest rumor of Russian gold selling, this time out of SocGen, we said that "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."

Moments ago, as if to deter further speculation that Russia is indeed converting hard money earned from real resources for fiat paper, the Russian monetary authority made it quite clear, that at least in November, Russia not only did not sell any gold, but in fact bought another 600K ounces in the month of November.

  • RUSSIAN MONETARY GOLD HOLDINGS RISE VS 37.6M ON NOV. 1
  • RUSSIAN MONETARY GOLD HOLDINGS 38.2M TROY OZ AS OF DEC. 1

So we can now add another 600K to Russia's most recent holdings:

Which of course means that the very "Russia is selling" rumors that were so effectively used to keep the price of gold low into the recent risk-flaring episode, were capitalized on by the very same Russia, which we do however know sold some $8 billion in US Treasurys in October bringings its total holdings of US paper to the second lowest since 2008...

... and which used these same low prices not to sell, but to buy. At the lowest prices possible.

 

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Fri, 12/19/2014 - 08:12 | 5571828 Urban Redneck
Urban Redneck's picture

SuckGen

Fri, 12/19/2014 - 08:17 | 5571834 GetZeeGold
GetZeeGold's picture

 

 

Busted!

Fri, 12/19/2014 - 08:19 | 5571845 MisterX
Fri, 12/19/2014 - 08:22 | 5571853 Latina Lover
Latina Lover's picture

As I said earlier,  if Bloomberg and Society Gen. are telling you to sell gold, it means that their billionaire buddies and bankster pals need to cover their shorts.  No wonder they hate Putin. He will not play their game to screw everyone else in favor of their tiny clique.

Fri, 12/19/2014 - 08:29 | 5571878 USisCorrupt
USisCorrupt's picture

This is just to Shocking for me, how can some just outight Lie?

 

 

Fri, 12/19/2014 - 08:36 | 5571890 winchester
winchester's picture

société générale....

 

frogtardz....

Fri, 12/19/2014 - 08:42 | 5571922 remain calm
remain calm's picture

Putin, "Fuck You SocGen, you cocksucking liars"

Fri, 12/19/2014 - 08:41 | 5571925 GetZeeGold
GetZeeGold's picture

 

 

Wow....when did they get promoted?

Fri, 12/19/2014 - 08:46 | 5571944 Jeff the Terrible
Jeff the Terrible's picture

Putin doesn't want to collapse the western world per se. He wants reasonable customers for trade. He does however want to stop the US monopoly of the US dollar to enable true free trade.

 

http://y2u.be/VI6tBwVjyOY

Fri, 12/19/2014 - 08:54 | 5571979 Save_America1st
Save_America1st's picture

BEARISH!  Wait for the dip in 3...2...1...

Then buy that shiny for sale item and wait for it to drop again.  Wash, rinse, repeat.

Your stack and your future will thank you down the road after all this shit blows up and collapses.

I recommend small fractional silver too.  90% (even though the premiums are off the charts) and small gold like 1/10 AGE's, etc.

Having a good amount of small stuff will be very good to have after the SHTF.

Fri, 12/19/2014 - 09:04 | 5572001 Arius
Arius's picture

yeah well cant blame them for trying ...

nice pick though have some french take the blame; someone must be in a hot seat this morning at SocGen ...

those nasty russkies ... why couldnt they just shut the fuck up like the chinese do, and let us deal with our sheep

Fri, 12/19/2014 - 09:14 | 5572022 strannick
strannick's picture

Fuckin A.

No NWO

Putin has more in common with Thomas Jefferson, Andrew Jackson and Ron Paul than the White House and all of Congress. 

 

Fri, 12/19/2014 - 09:33 | 5572086 BurningFuld
BurningFuld's picture

I thought it was bull shit. The only problem the USSR has is the USSA and the USD. Last fucking thing they would do is sell their fucking GOLD.

Fri, 12/19/2014 - 09:44 | 5572120 Patriot Eke
Patriot Eke's picture

What's the lower oil prices doing here too?  It's putting Western oil companies out of business.  One has to wonder if this is just another part of the trap.

Fri, 12/19/2014 - 10:10 | 5572200 HenryHall
HenryHall's picture

MY MY!

So Russia sold some US dollars and used the money to buy gold when the price was low. What a shock! Who would ever have guessed they were doing that?!

Fri, 12/19/2014 - 10:45 | 5572299 BaBaBouy
BaBaBouy's picture

SOCK Gen: We Made Another Mistake, Folks ...

Fri, 12/19/2014 - 11:27 | 5572494 Manthong
Manthong's picture

Every Fed official/governor needs a 400 oz. bar shoved sideways where the sun don’t shine.

Fri, 12/19/2014 - 11:58 | 5572616 Supernova Born
Supernova Born's picture

Claws and teeth intact, bitchez.

Fri, 12/19/2014 - 14:38 | 5573378 7.62x54r
7.62x54r's picture

"I'm shocked, shocked, to hear that gold buying is going on here!"

http://youtu.be/SjbPi00k_ME

Fri, 12/19/2014 - 15:25 | 5573653 James_Cole
James_Cole's picture

the Russian monetary authority made it quite clear, that at least in November, Russia not only did not sell any gold, but in fact bought another 600K ounces in the month of November

Fri, 12/19/2014 - 12:26 | 5572734 angel_of_joy
angel_of_joy's picture

Well, that didn't take long... less than 48 hours from the first Bloomberg turd.

Fri, 12/19/2014 - 09:38 | 5572101 Fun Facts
Fun Facts's picture

Americans are currently living under ZWO occupation, and this needs to be understood.

The country is being gutted, looted, and transformed by the ZWO. The entire politico body are sycophant puppets with media created left/right personas, and the polls are rigged with no audit trail.

Six media corporations control 96 percent of what Americans see on TV, watch at the movies, read in print media and hear on radio in what amounts to 24/7 non stop ZWO lies and propaganda geared towards one end.

You living as a serf in a police state with no rights and no freedom. That's the ZWO agenda.

Fri, 12/19/2014 - 13:57 | 5573207 noben
noben's picture

Mazeltov.
-the ZWO
(sarc)

Fri, 12/19/2014 - 12:53 | 5572862 Oldrepublic
Oldrepublic's picture

fancy that!

Fri, 12/19/2014 - 09:18 | 5572045 GubbermintWorker
GubbermintWorker's picture

The premiums are way too high for the 1/10 AGE's! I prefer the French 20 Francs and the Mexican coins, especially the 20 Pesos!

Fri, 12/19/2014 - 09:46 | 5572131 cheech_wizard
cheech_wizard's picture

I'm stacking ammo. Your gold had better be hidden well because all you need to do is read any paper around the globe to know that when the thin veneer of civilization comes off, it's going to get ugly quickly.

 

Fri, 12/19/2014 - 09:53 | 5572146 GubbermintWorker
GubbermintWorker's picture

Yeah, I'm stacking food, fuel, gold, silver, lead, and lead devilery systems.

Fri, 12/19/2014 - 09:53 | 5572148 s2man
s2man's picture

How many gun fights do you expect to win?

Fri, 12/19/2014 - 10:05 | 5572183 GubbermintWorker
GubbermintWorker's picture

I'll win all but the one I lose.

Fri, 12/19/2014 - 10:10 | 5572197 Tall Tom
Tall Tom's picture

Every one of them but the last one?

Fri, 12/19/2014 - 10:27 | 5572240 silverer
silverer's picture

How many would you expect to win with no gun?

Fri, 12/19/2014 - 10:44 | 5572297 Tall Tom
Tall Tom's picture

Well Bombs, Landmines, Grenades and Rockets will serve just fine in many instances...

Fri, 12/19/2014 - 15:35 | 5573694 GubbermintWorker
GubbermintWorker's picture

A clip? WTF is a clip?

Fri, 12/19/2014 - 11:00 | 5572372 fightthepower
fightthepower's picture

So you are a no good fucking thief?  Fuck you!  Hope you end up shot. 

Fri, 12/19/2014 - 11:43 | 5572550 cheech_wizard
cheech_wizard's picture

Did I personally say I was coming after your gold? No. I could care less about your "precious".

Did you somehow not read that the second sentence in my statement was more of a personal observation on the world about us? 

Next time I'll word things more carefully for the demonstrably slow-witted.

 

Fri, 12/19/2014 - 11:44 | 5572561 Bollixed
Bollixed's picture

I don't think that's what he was implying. More like - The first time you're desparate enough to flash some gold for needed goods you open yourself up to unwanted attraction. Gold is a good way to bring your wealth to the other side, but not a good mechanism for trade during periods of unrest.

When word gets around...

Fri, 12/19/2014 - 14:42 | 5573400 7.62x54r
7.62x54r's picture

Use jewelry gold for purchases. You can get chains with one-tenth ounce links you can cut off.

A man trading bullion for goods is a target. A man selling bits of his mother's jewelry is just pitiful, and looks desperate.

Fri, 12/19/2014 - 14:54 | 5573481 Bollixed
Bollixed's picture

Yes, been my plan for years. That and junk silver.

Fri, 12/19/2014 - 10:05 | 5572170 HowdyDoody
HowdyDoody's picture

Stop stealing other people's comments, you thread-jacking tw*t.

http://www.zerohedge.com/news/2014-12-19/russia-busts-gold-selling-rumor...

Fri, 12/19/2014 - 10:49 | 5572315 BobPaulson
BobPaulson's picture

Thread following protocol at ZH doesn't exist. People just reply to the most recent post. It makes it hard to have comment conversations. I doubt you would have much luck trying to change that.

Fri, 12/19/2014 - 11:47 | 5572338 fuu
fuu's picture

wrong spot

Fri, 12/19/2014 - 10:54 | 5572335 fuu
fuu's picture

Jeff the Terrible, still pimping that Vegan cookbook video everywhere he goes. Such a good little comment bot.

Fri, 12/19/2014 - 11:07 | 5572408 Fun Facts
Fun Facts's picture

Parties responsible for the propaganda. Feel free to make your sentiment known.

Bloomberg:

To contact the reporter on this story: Debarati Roy in New York at droy5@bloomberg.net

To contact the editors responsible for this story: Millie Munshi at mmunshi@bloomberg.net Steve Stroth

SocGen:

Twitter: @societegenerale

Board of Directors
http://www.societegenerale.com/en/about-us/governance/board-of-directors

Email:
contact-fournisseur@socgen.com
contact.dvptdurable@socgen.com
firstname.lastname@socgen.com

Fri, 12/19/2014 - 21:32 | 5574482 nuke ISIS now
nuke ISIS now's picture

Putin,

 

"Lets rape our citizens comrades, lemme take cae of my former KGB friends, and allies, Hwhile we control the finncial wealth of Russia, as the brainwashed uninformed proloteriat suffers, doesnt matter comrades I got me an 80 pct Happroval rating, such imbeciles i stel from them but they love me, honly in Hrussia..lol get me the Stoli

http://www.washingtonpost.com/world/europe/putin-presidency-means-more-t...

 

Gee lets see what the Moscow Times has to say about your hero Putin

http://www.themoscowtimes.com/opinion/article/putin-s-uninspiring-speech...

Newsweeks take

http://www.newsweek.com/2014/08/01/behind-scenes-putins-court-private-ha...

Maybe his interview with Tass?

http://eng.kremlin.ru/news/23274

Here is what happens if one dares to critisize Putin

http://www.themoscowtimes.com/news/article/moscow-court-extends-house-ar...

Seems fairly cloe to a dictator folks, try to spin this..folk...lol

Fri, 12/19/2014 - 09:10 | 5572027 flapdoodle
flapdoodle's picture

Socer mes Genitaux

Fri, 12/19/2014 - 11:00 | 5572361 wesson
wesson's picture

Word of advice: don't even try

(Un conseil, n'essayez plus ...)

 

Fri, 12/19/2014 - 13:29 | 5573080 Cacete de Ouro
Cacete de Ouro's picture

The bloomberg article was bullshit. It quoted a portfolio manager from some 2 bit $150m fund in NJ and some founder of optionsrllers.com in Tampa, then also some sell side schmuck from BoA Merrill Lynch about using the gold as collateral, and BoAML is known to want to lent against gold (Venezuela).

The SocGen piece was always bullshit. SocGen are one of the 4 gold fixers for God's sake and they are short central bank gold since they hold a shed load of gold deposits, even after getting gold bail out by BIS / Banque de France.

Fri, 12/19/2014 - 08:50 | 5571965 Fun Facts
Fun Facts's picture

Once again Bloomberg exposed for the propagandists they are, working in conjunction with SocGen this time.

It's a noble deed to lie to the donkeys.

Fri, 12/19/2014 - 13:23 | 5573049 pendragon
pendragon's picture

when you stop foaming at the mouth you might bother to check that the socgen report explicitly discussed gold sales in the first week of dec...the holdings listed above are up to the end of november.

Fri, 12/19/2014 - 08:30 | 5571879 Abitdodgie
Abitdodgie's picture

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. Sorry about the repost

Fri, 12/19/2014 - 08:41 | 5571924 linniepar
linniepar's picture

I have thought about this quite a bit. It does seem through some actions that Obama is a Russian double agent, aka, Vlad's stooge. The lethal aid gives Russia any justification for whatever happens next.  Just one of the many possibilities it this fucked up world.

Fri, 12/19/2014 - 08:55 | 5571981 SilverIsKing
SilverIsKing's picture

More flexibility in the second term...hmmm...

Fri, 12/19/2014 - 09:41 | 5572113 RaceToTheBottom
RaceToTheBottom's picture

A little early to be hitting the sauce, no?

 

Fri, 12/19/2014 - 11:26 | 5572496 linniepar
linniepar's picture

Perhaps. Since we have no definitive solid concrete reason in the open as to why the world is so fucked up (and regarded and accepted as truth) anything is possible at this point.

Fri, 12/19/2014 - 08:43 | 5571931 thatthingcanfly
thatthingcanfly's picture

I knew something didn't sound right when I read the SocGen article yesterday. It just doesn't sound like the Russian M.O. at all to be selling gold right now, with prices significantly depressed from the $1900 high 3 years ago. All Russian, China, and India has been doing is buy, buy, buy. So now SocGen wants us to think they're going to sell because oil is down and the ruble is having problems? Seems exactly like the kind of thing a Western CB might do. But not Russia.

Fri, 12/19/2014 - 09:24 | 5572065 TeamDepends
TeamDepends's picture

The price is only depressed for us "poor" Americans. Gold is at ATH in rubles, and higher in most currencies.

Fri, 12/19/2014 - 14:11 | 5573263 noben
noben's picture

Rub le Banc.
They Rubled some French folks.

Fri, 12/19/2014 - 09:46 | 5572129 Anasteus
Anasteus's picture

Right, it's not that easy to turn ruble into rubble.

Fri, 12/19/2014 - 09:55 | 5572155 JR
JR's picture

No. By making a deal with Cuba, the US’s ultimate goal appears to be the retaking of the Caribbean so it can “safely” destroy  Eurasia “with the least amount of repercussions to its own supercontinental interests (North and South America).”

By turning the entire North and South American landmasses “into a de-factio pro-American reserve… the US will have a strategic redoubt to retreat to should its Brzezinski-style chaos succeed in Eurasia, as ‘Fortress America(s)’ would not only provide it with all of the natural resources it needs to be economically self-sufficient, but pure geopolitics dictates that it would be insulated from the vast majority of the supercontinent’s meltdown.”

In short, Raul Castro either wittingly or unwittingly sold out his country in a secret. major hemispheric power play by the global imperialists. The move was made quickly after Putin’s recent visit to Cuba.

Andrew Korybko explains further in his Oriental Review article, “Did Raul Castro Just Reverse the Entire Cuban Revolution?”:

“The US likely sweetened the deal with some behind-the-scenes economic incentives in order to facilitate its conclusion as soon as possible due to the Russia factor. Putin made a surprise visit to the island in July en route to the BRICS Summit in Brazil, and during his stay there, he announced that Russia was forgiving $32 billion of Cuba’s debt, which was 90% of the total. In exchange, it was rumored that Moscow would be reopening the Soviet-era signals intelligence base in Lourdes, which considering the tense climate of the New Cold War, would have been a massive strategic detriment for the US. With this in mind, the US immediately set off to seduce Cuba.”

Continues Korybko:

“If Cuba really did double deal against its allies and is now buddy-buddy with the US, then Venezuela would be the first country to be most directly affected by this political reorientation…

.”If Venezuela should fall, the rest of the R&D (Resistant and Defiant) states connected to its network (Nicaragua, Ecuador, Bolivia, and the smaller Caribbean states of ALBA) would react like dominos and follow in its path.”

http://www.globalresearch.ca/did-raul-castro-just-reverse-the-entire-cuban-revolution/5420584

Fri, 12/19/2014 - 11:09 | 5572411 wesson
wesson's picture

No because Cuba is not helpful for America to secure its self-sufficiency, and it's way too far from Russian borders to bully. Crimea was good for that, but now it's gone forever so this part of the plan is definitively off the table.

 

The only thing Cuba can bring to USA is a good public health system, which btw USA don't want.

 

The real thread now will be to avoid loosing the Saudi, as they are themselves loosing influence in the middle-east, at the benefit of Iran.

Fri, 12/19/2014 - 11:41 | 5572543 JR
JR's picture

Cuba was not the target for US action on American/Cuban relations. The target is the BRICs. And if Venezuela can be co-opted and others to follow, one of the strongest oppositions to the establishment of world government and a single currency controlled by the banking oligarchs will have been neutralized. If the bankers don't stop the BRICs and the Russian/China trade deals, the movement against the American Empire will only grow more powerful in the world, even on the Palestinian question, and the lineup against the American dollar and America's warmongering assault on nations' sovereignty and their resources will explode in the face of the globalists' quest for a one-world socialist tyranny.

Fri, 12/19/2014 - 13:57 | 5573201 cornflakesdisease
cornflakesdisease's picture

The Fed all ready controls India, Brazil, and South Africa's banking directly or indirectly.

Fri, 12/19/2014 - 11:45 | 5572563 Ghordius
Ghordius's picture

"The only thing Cuba can bring to USA is a good public health system, which btw USA don't want." +1   because it's socialist, of course. no profit, no way, José

Fri, 12/19/2014 - 12:36 | 5572784 escapeefromOZ
escapeefromOZ's picture

So there is an opportunity for Cuba to provide medical services at reasonable prices for the American public !

Fri, 12/19/2014 - 13:07 | 5572954 JR
JR's picture

That depends on the definition of "reasonable" - the doctor's or the State's.

Now that the Obama Free-Market- Economy Wrecking Crew has moved into every neighborhood with Obamacare and an extortion threat of deadly force if you don’t use its services, you want  Big Bro Obama to go as far as the Castros who line up those who disagree with their Castrocare against a wall? Better think again.

It's wealth transfer; it's socialism, i.e., Communism lite. Castro-defender Sheila Jackson Lee (D-TX), compared the fight for Obamacare with "civil rights.”  Said Sheila back in 2010: Today, I voted in favor of historic legislation to expand health insurance coverage to 32 million Americans, including 180,500 of my constituents in the 18th Congressional District, who are uninsured… One might ask, Who's civil rights? 

CUBA’S DOCTOR ABUSE | Investor’s Business Daily | 02/25/10

Health Care: Remember Cuba's vaunted medical missionaries — those who treated the poor abroad for nothing, supposedly out of selfless motives? A lawsuit shows they were nothing but a communist slave racket.

It ought to bear a few lessons for our own country as the role of doctors in the health care debate drags on.

Back in 1963, Cuban dictator Fidel Castro launched a much-praised initiative to share Cuba's medical doctors with the poor around the world. The idea, of course, was to appear to be acting on higher motives than the profit-driven doctors in free societies. It was small scale and propaganda-oriented.

But in 2003, Castro went big, and shipped 20,000 doctors and nurses to Venezuela's jungles and slums to treat the poor, doing the work "selfish" private-sector doctors wouldn't. Hugo Chavez touted this line and the mainstream media followed.

Now the ugly facts are getting out about what that really meant: indentured servitude to pay off the debts of a bankrupt regime.

This week, seven escaped doctors and a nurse filed a 139-page complaint in Miami under the RICO and Alien Tort acts describing just how Cuba's oil-for-doctors deal came to mean slavery.

The Cuban medics were forced to work seven days a week, under 60-patient daily quotas, in crime-riddled places with no freedom of movement. Cuban military guards known as "Committees of Health" acted as slave catchers to ensure they didn't flee.

Doctors earned about $180 a month, a salary so low many had to beg for food and water from Venezuelans until they could escape.

What they endured wasn't just bad conditions common inside Cuba. The doctors were instruments of a money-making racket to benefit the very Castro regime that has ruined Cuba's economy.

"They were told 'your work is more important to Cuba than even its sugar industry,'" their attorney, Leonardo Canton, told IBD.

That's because their labor was tied to an exchange: Castro took 100,000 barrels of oil each day from Venezuela's state oil company in exchange for uncompensated Cuban labor.

Most of the oil was then sold for hard currency, bringing in cash. Cuba also charged Venezuela $30 per patient visit, meaning a $1,000 daily haul per doctor. But the doctors never saw any of it.

In a situation like this, it's pretty obvious that when the state gets involved in medical care — telling doctors whom they can serve, what they can charge and what they can treat — it doesn't take long for slavery to result. The Cuban government has told other doctors, such as surgeon Hilda Molina, that her brain "is the property of the state" as reason to control her travel.

That ought to be lesson to those who seek to reform medical care in the U.S. on the backs of doctors. Free medical care is never free.

http://www.investors.com/NewsAndAnalysis/Article.aspx?id=522289

Fri, 12/19/2014 - 13:55 | 5573193 cornflakesdisease
cornflakesdisease's picture

With Venezuela toast, Cuba's day's are numbered.  They know that things are not working and that they need to change direction when they look at Russia and China and other "communist" countries.

Fri, 12/19/2014 - 11:31 | 5572510 Fun Facts
Fun Facts's picture

What Putin is not telling us | Pepe Escobar

The perfect storm evolves in two fronts; an overt economic war – as in siege by sanctions - and a concerted, covert, shadow attack to the heart of the Russian economy. Washington’s endgame is clear: impoverish and defang the adversary and force him to meekly bow to the ‘Empire of Chaos’s’ whims. And bragging about it all the way to “victory.”
http://rt.com/op-edge/215675-putin-economic-sanctions-us-oil/

Fri, 12/19/2014 - 09:58 | 5572163 Max Steel
Max Steel's picture

I told ya all yesterday the article by socgen on zh was complete bullshit . Therr was no info confirming it . 

Fri, 12/19/2014 - 12:18 | 5572693 Bay of Pigs
Bay of Pigs's picture

Speaking of bullshit.....where's kito to explain things on Russia and gold again?

Oh, thats right, we're all wrong on this. Its all 'Murika!!!!

Fri, 12/19/2014 - 13:39 | 5573136 midtowng
midtowng's picture

But how is this possible when dollar bills are the only measures of wealth?

They wouldn't lie to us about gold, would they?

Fri, 12/19/2014 - 08:19 | 5571842 linniepar
linniepar's picture

Unfortunately,  Vladimir was riding his bear across the sea when all his gold spilled to the bottom.

Fri, 12/19/2014 - 08:20 | 5571847 GetZeeGold
GetZeeGold's picture

 

 

When you own a country......you don't need a boat.

Fri, 12/19/2014 - 08:35 | 5571899 Keyser
Keyser's picture

Hell, Vlad could probably make up the shortfall from his personal account... 

Fri, 12/19/2014 - 08:42 | 5571928 linniepar
linniepar's picture

That's why I said he was riding his bear. ;)

Fri, 12/19/2014 - 08:52 | 5571966 cnmcdee
cnmcdee's picture

Those fking boating accidents!! Is there anyone left who hasn't had one?

Fri, 12/19/2014 - 09:53 | 5572147 quasimodo
quasimodo's picture

I sold the bowrider back in '08 when things got ugly, had this feeling we would not really have extra scratch to spend $100 a week for gas for the gas guzzling bitch. Damn tho I miss that thru hull exhaust bellowing at full throttle, but it was a wise decision.

My hope is still that someday someone who is way overextended will get rid of something similiar I can pick up on the cheap. Dreaming is free, right? At least I don't have to worry about all these boating maladies I hear mentioned here so often.

 

Fri, 12/19/2014 - 10:41 | 5572287 cowdiddly
cowdiddly's picture

The two happiest days of a mans life are

"The day he buys his first boat, and the day he gets rid of it."

Fri, 12/19/2014 - 11:00 | 5572371 fuu
fuu's picture
Boat: A hole in the water surrounded by wood into which one pours money
Fri, 12/19/2014 - 08:17 | 5571844 25or6to4
25or6to4's picture

Yeah,who do they think they are Goldman Sucks or something?

Fri, 12/19/2014 - 08:26 | 5571868 ZH Snob
ZH Snob's picture

the great USTB dump might just begin today.  then some entity in Belgium will have to step in and buy it all up.

Fri, 12/19/2014 - 08:58 | 5571984 JohnnyHenriksen
JohnnyHenriksen's picture

Why would they sell any of their gold when they know what the endgame is for all fiat currencies?

https://www.youtube.com/watch?v=V0GDcA-gqY4

Fri, 12/19/2014 - 10:18 | 5572217 lunaticfringe
lunaticfringe's picture

Bankers and governments lie. If the issue is important or serious, assume what they are telling you is a lie. You will be correct 98% of the time. Remember how the US rushed to say Russia shot down that passenger jet and oddly, after the investigation, not a peep out of the media. Or that Syria used chemical weapons on it's own people...

Fri, 12/19/2014 - 11:03 | 5572382 drendebe10
drendebe10's picture

SoGen sucks.... idiots.didn't realize they were up against a chess player... they must've mistaken Putin for the dolt fudgepacker in chief.

Fri, 12/19/2014 - 11:15 | 5572439 drendebe10
drendebe10's picture

SoGen sucks.... idiots.didn't realize they were up against a chess player... they must've mistaken Putin for the dolt fudgepacker in chief.

Fri, 12/19/2014 - 12:49 | 5572842 ChiangMai
ChiangMai's picture

 

Newly-posted at The Vineyard of the Saker (where, incidentally, an increasing number of comments lately link to ZeroHedge):

Crouching sanctions, hidden revenues - Dollars for borsch

...As we all knew (those who didn’t got it stamped in the face this year thanks to the good will of liberal media), Russian revenues are based on natural resources. Sales are conducted in FX (except for special agreements, some of which are still pending). So let’s take a look how the purse of Russian state is being filled…

Ironically, weak ruble will also punish EU for doing dirty work for the US. Now it’s for everyone to see that US waves the stick while the EU pays the price... 

 

Fri, 12/19/2014 - 08:17 | 5571836 CandaceLH
CandaceLH's picture

If Russia would sell any of it's gold holdings we know the immediate buyer would be CHINA!

Fri, 12/19/2014 - 08:16 | 5571837 cnmcdee
cnmcdee's picture

Since 70% of European Energy comes from Vodkaland, all Putin has to do to collapse the whole western world (first Europe) is demand his oil and gas be paid for in gold..

  - But first he needs to deplete their stocks as low as possible (and since they insist on devaluing it - their falling right into his trap..)

Fri, 12/19/2014 - 08:24 | 5571850 cnmcdee
cnmcdee's picture

And if he DOES THIS it will become the biggest ripjaw of wealth transfer in history as it will not be the Ruble that fails it will be OUR FIATS THAT FAIL..

 - But first let the weakest oil companies go into insolvency via low prices to weaken their ability to absorb demand.

Something tells me the Ruble bear beating has pulled a small string tied to a large stick, holding back a large boulder which we are _not_ aware of at the moment.

Fri, 12/19/2014 - 08:22 | 5571854 BudFox2012
BudFox2012's picture

Could be a cold winter in Europe without Russian natural gas.  Even just throttling back supply 20% would be catastrophic for europe

Fri, 12/19/2014 - 08:36 | 5571898 winchester
winchester's picture

actually in europ, T C° for france are 5-15° above average...

 

we are fucking lucky we do not need that much heat.

 

 

 

Fri, 12/19/2014 - 08:38 | 5571911 GetZeeGold
GetZeeGold's picture

 

 

Could be a cold winter in Europe

 

Umm.....it is winter in Europe.

Fri, 12/19/2014 - 08:48 | 5571954 Tall Tom
Tall Tom's picture

Not officially. Dec. 21 is two days away.

Fri, 12/19/2014 - 08:53 | 5571972 GetZeeGold
GetZeeGold's picture

 

 

Watch it like hawk for us....we're putting you in charge.

Fri, 12/19/2014 - 09:01 | 5572000 Tall Tom
Tall Tom's picture

Me and my big mouth. Another responsibility? Shit. Don't I have enough to do already?

 

Uhhh...Okay.

Fri, 12/19/2014 - 09:08 | 5572013 GetZeeGold
GetZeeGold's picture

 

 

Relax amigo.

 

It's OK.

Fri, 12/19/2014 - 09:21 | 5572055 Tall Tom
Tall Tom's picture

Actually I stand corrected. In Moscow, Russia, Winter begins on Dec. 22nd at 6:03 AM

 

In London, England, Winter begins at 3:03 AM on Dec. 22nd.

 

That pretty much  covers Europe.

 

Winter begins at 3:03 PM EST on Dec. 21 for the USA.

 

http://www.almanac.com/content/first-day-winter-winter-solstice

Fri, 12/19/2014 - 09:23 | 5572060 GetZeeGold
GetZeeGold's picture

 

 

Keep us apprised.....we're counting on you.

Fri, 12/19/2014 - 09:39 | 5572105 breadonwaters
breadonwaters's picture

That would be June 22 here in Canada ...HA!

Fri, 12/19/2014 - 12:50 | 5572847 css1971
css1971's picture

Yup. I'm enjoying Russian gas as I type. Now, I'm planning on investing in alternatives but it's an expensive business with a very long return on investment.

Having said that, this winter has been exceptionally mild so far. 9C today. Which is 40C higher than it was 5 years ago at this time.

Fri, 12/19/2014 - 08:25 | 5571864 Ghordius
Ghordius's picture

first, I don't recognize that 70% number. second, a lot of Russian gas and oil cannot be shipped to someone else, not yet. third, Russian want and in part need lots of things from their european partners in business. whatever Washington is saying, you are talking about partners in business which aren't that keen in escalating to a serious trade war

at a certain point, you might not hear "Fuck Washington", but see the equivalent. Ukraine was bad for the reputation of Putin and the Imperial Envoy Vicky the Gentle and her ilk, here

Fri, 12/19/2014 - 08:37 | 5571903 cnmcdee
cnmcdee's picture

http://www.bp.com/content/dam/bp/pdf/statistical-review/statistical_revi...

You are correct 40% of their Natural Gas, 50% of their oil according to this British Petroleum 2012 study. Still enough to cause a price shock the likes the world has never seen.

Fri, 12/19/2014 - 09:02 | 5571999 Ghordius
Ghordius's picture

thank you. +1. in a different article I was pointing out that Europe is historically the least sensitive continent to price shocks in energy

Fri, 12/19/2014 - 09:22 | 5572062 overmedicatedun...
overmedicatedundersexed's picture

Ghordius, your plus 1 is like so undervalued, much like oil.

Fri, 12/19/2014 - 10:57 | 5572346 TheReplacement
TheReplacement's picture

People need to eat, sleep, and have shelter (warmth).  I'm going to guess that Russia can provide all those necessities for itself if it really needs.  Europe, not so much.

If you meant Europe has a lot of what Russia wants then that is a different matter. 

Fri, 12/19/2014 - 13:49 | 5573161 cornflakesdisease
cornflakesdisease's picture

http://www.dw.de/just-how-important-is-russian-gas-for-europe/a-17574004

It provides 38 percent of Germany's natural gas imports, 35 percent of all oil imports and 25 percent of coal imports, covering a quarter of the country's entire energy needs

However;

It seems they are working on this:

http://www.ibtimes.com/feds-approve-fourth-lng-export-terminal-amid-grow...

http://www.economist.com/blogs/charlemagne/2014/04/netherlands-lng-terminal

They've built 8 of these in Lousiana alone at $15 to $21 billion each and 4 in Texas.  A client of mine's company built one in Orange Texas on the gulf.  It was like a four year project.

Fri, 12/19/2014 - 08:28 | 5571872 HowdyDoody
HowdyDoody's picture

Putin doesn't want to collapse the western world per se. He wants reasonable customers for trade. He does however want to stop the US monopoly of the US dollar to enable true free trade.

Fri, 12/19/2014 - 08:38 | 5571907 cnmcdee
cnmcdee's picture

But what happens when the western world has rabies and drools on itself?

Fri, 12/19/2014 - 08:54 | 5571974 shovelhead
shovelhead's picture

I don't know what Putin wants, but I do know what he doesn't want and that's a face full of NATO sabre-rattling surrounding him and a Ukraine full of American weapons killing Russian speaking separatists.

People are dying from lack of food and medical supplies, all thanks to the Peace Prize Minion in Chief.

 

Fri, 12/19/2014 - 10:33 | 5572258 zerohedgejjxxzz12
zerohedgejjxxzz12's picture

Russia sell's gold to China all the time, Black Gold.

Fri, 12/19/2014 - 11:01 | 5572367 americhinaman
americhinaman's picture

it is more plausible that he demands to be paid in rubles.  in fact, he wouldn't have to demand it.  he could simply say that if they pay in ruble-equivalent to whatever USD or EUR price has been contracted, then there will be a 1% discount.  every european buyer of russian gas would then pay in rubles.  money talks, even if it is paper money.

Fri, 12/19/2014 - 08:18 | 5571838 GOSPLAN HERO
GOSPLAN HERO's picture

Hmmm ... are the Russians dumping USD reserves to buy gold?

Nice chess move, Vlad.

Fri, 12/19/2014 - 08:20 | 5571851 lakecity55
lakecity55's picture

Why not? It is underpriced in FERNS. I have been loading up. Why should Vlad not load up in bulk at bargain prices?

Fri, 12/19/2014 - 08:34 | 5571889 cnmcdee
cnmcdee's picture

Didn't zero hedge report the other day they are doing just that?  It tells me they are getting ready for full international sanctions

 - First they invade Ukraine.

 - Then the sanctions come. Trading of ruble is halted.

 - Putin announces all oil and gas exports shall be sold in Gold (embargo exempt).  Counterstrike.

 - Europe is forced to buy it on the open market but China (and Russia) won't sell.  US doesn't have any (gold plated tungsten)  Can they burn Euros to keep warm?

 - Prices worldwide skyrocket but shale plays cannot fill void as Putin *carefully* waited until their supply chains were locked up in bankruptcy proceedings.

 - Only countermove western governments have left is to stage a *BIG ASS* false flag terrorist attack blame Iran nuke them and cripple support to Syria  making sure they FAIL

 - So then Qatar / Saudi Arabia can build pipeline to Europe to relieve crippling oil and gas sanctions they brought on themselves.

 

Fri, 12/19/2014 - 08:41 | 5571923 jughead
jughead's picture

"First they invade Ukraine."

 

Ya'll have never seen an actual invasion, apparently. 

Fri, 12/19/2014 - 10:11 | 5572204 Volkodav
Volkodav's picture

Crimea succeeded from Ukraine.

Kiev Ugligarchs invaded SE Ukraine, though...

 

Fri, 12/19/2014 - 10:59 | 5572359 TheReplacement
TheReplacement's picture

He might be thinking future tense.  As in a Russian response to lethal aid from the US to Ukraine, still to be played out.

Fri, 12/19/2014 - 08:50 | 5571960 Beowulf55
Beowulf55's picture

Hey cnmcdee, like your call but Vlad still wins.

So then Qatar / Saudi Arabia can build pipeline to Europe to relieve crippling oil and gas sanctions they brought on themselves.

 

It takes a lot of time for a pipeline to be built.  The war will be over long before the houses (what are left) will be warm. 

 

Obama losses....Vlad still wins.......

Fri, 12/19/2014 - 11:10 | 5572425 jerry_theking_lawler
jerry_theking_lawler's picture

You forgot that Iran will close the straights and someone will bomb terminal in Western Saudi...this will stop all flow from the middle east to the West. How do you wage war without energy?

Fri, 12/19/2014 - 08:18 | 5571841 JustObserving
JustObserving's picture

Markets in the land of the free are based on lies and manipulation.  600,000 ounces is only 18.75 tons.  China bought twice that in a single day:

MKS: 39 Tonnes Of Gold Reportedly Bought During Chinese Trading Day

http://www.kitco.com/news/2014-12-18/KitcoNewsMarketNuggets-December-18....

Fri, 12/19/2014 - 08:29 | 5571874 Tall Tom
Tall Tom's picture

The sales in the Holiday Season just must be too great to pass up.

 

Pleeeeeease decrease that price some MOAR.

 

Slam it down $100.

 

Currently it has gained a big $20/ozt YOY...

 

It cannot have a winning year.

 

Slam that price Yellen. Pleeeeeeeze.

 

Russia neeeeeeds your Gold Presents.

 

Dammit Janet. Slam that price.

 

I want to get MOAR Gold for my Yellen Bux

Fri, 12/19/2014 - 08:40 | 5571917 Paveway IV
Paveway IV's picture

"...the Russian monetary authority made it quite clear, that at least in November, Russia not only did not sell any gold, but in fact boughtanother 600K ounces in the month of November..."

18.75 tonnes is about a month of Russian miners' production, so that's still consistent with Russia buying up all their own gold. Lease rates cratered on Dec. 1st, so something big happened on that day. If Russia did start to sell their nearly three quarters-worth of accumulated production (the ~122 tonnes) they probably did it on the 1st.

It would be in their own best interests to sell as little as possible if they knew the price was surpressed via derivative shorting. Maybe Vlad is trying to stick it to the Western banks by forcing a short squeeze.

I would have to imagine that interfering with the current gold manipulation Ponzi itself would be far more damaging to the Rothschild banks than damage to whatever exposure they have to the Russian economy. 

So what do we watch? Lease rates? I wish some of you gold guys would chime in here - I'm probably making an ass out of myself speculating on what's happening. I have no frickin' idea about gold and less about the inner workings of the Russian economy.

Fri, 12/19/2014 - 08:17 | 5571843 Silver Short Seller
Silver Short Seller's picture

Putin doesn't have enough reserves to recapitalize the banks or rollover the debt of major Russian corporations. More gold purchases is Russia digging its own grave.

Fri, 12/19/2014 - 08:24 | 5571863 Latina Lover
Latina Lover's picture

Sure, Putin should listen to a 7 week member who calls itself Silver Short Seller, LOL>

Fri, 12/19/2014 - 08:32 | 5571877 Silver Short Seller
Silver Short Seller's picture

He doesn't have to listen. The markets have told him he's wrong and that's why the Ruble is in the toilet while the USD is king.

Fri, 12/19/2014 - 08:33 | 5571887 SoilMyselfRotten
SoilMyselfRotten's picture

Like a king living in a sandcastle

Fri, 12/19/2014 - 11:00 | 5572368 Tall Tom
Tall Tom's picture

House of cards. Sand Castles have some resilience...until they are overwhelmed by the waves.

 

The collapse of the Shale Oil Industry and the UK North Sea operations may be enough to cause the domino effect of cascading Credit Default Swap defaults and consequential Derivative failures.

 

These imbeciles whom planned this game acted impulsively and did not consider the aftershocks. That House of Cards will tumble all too soon.

 

We are cooked and deservedly so.

Fri, 12/19/2014 - 08:38 | 5571913 ZeroPoint
ZeroPoint's picture

Oh yes, the dollar is such a king, that the whole world is now doing direct currency swap deals. It's such a king that a mysterious Belgian buyer suddenly appears gobbling treasuries at an amount as high as Beglium's GDP.

 

As Metallica once said: "Where's your crown King Nothing?"

Fri, 12/19/2014 - 09:09 | 5572021 oddjob
oddjob's picture

+1 for Metallica

Fri, 12/19/2014 - 08:42 | 5571930 jughead
jughead's picture

psst...dood, you have no clothes

Fri, 12/19/2014 - 09:04 | 5572007 Dame Ednas Possum
Dame Ednas Possum's picture

The outrageously manipulated 'markets' that are used as instruments of war against citizens and soverign nations alike to incarcerate and oppress have told him he's wrong...

There. Fixed it for ya....numb nuts.

Now piss off. Please.

Fri, 12/19/2014 - 09:07 | 5572014 actionjacksonbrownie
actionjacksonbrownie's picture

The "markets" are basically the fed - are you saying Putin should listen to the tribe?

Fri, 12/19/2014 - 09:42 | 5572117 sandhillexit
sandhillexit's picture

and "markets are efficient."  I think that ship has sailed, SSS.  Maybe you were in the accelerated program, and got the participation trophy.

Fri, 12/19/2014 - 09:43 | 5572119 Agstacker
Agstacker's picture

SSS, a legend in his own mind.

Fri, 12/19/2014 - 09:50 | 5572142 Calmyourself
Calmyourself's picture

"While the US Army/Navy/Air Force is King" for now..  Fixed it for you.  All those direct currency swaps are nibbling at a foundation.

Fri, 12/19/2014 - 12:30 | 5572759 css1971
css1971's picture

Japan would kill for that kind of behavior from their currency.

Fri, 12/19/2014 - 13:04 | 5572933 cornflakesdisease
cornflakesdisease's picture

The dollar will collapse, as soon as we run out of zeros.

Fri, 12/19/2014 - 09:03 | 5572003 agent default
agent default's picture

Another new member another troll.  Why do we get so many here lately, is ZH being targeted or have we become so famous that every idiot feels compelled to post some of his brain farts here.

Fri, 12/19/2014 - 08:25 | 5571867 Winston Churchill
Winston Churchill's picture

I forget what come below moron on the intelligence scale.

Is it Silver Short Seller ?

 

Fri, 12/19/2014 - 08:30 | 5571880 Silver Short Seller
Silver Short Seller's picture

No rebuttal? Sounds like I'm correct.

Fri, 12/19/2014 - 08:37 | 5571904 Winston Churchill
Winston Churchill's picture

I have neither the time or patience to educate the mentally sub normal.

Too many turds in the gene pool already.

Fri, 12/19/2014 - 08:39 | 5571919 Silver Short Seller
Silver Short Seller's picture

You had the time to post twice on ZH. Maybe you just don't have the knowledge?

Fri, 12/19/2014 - 08:50 | 5571957 Winston Churchill
Winston Churchill's picture

I have enough fools to suffer on a daily basis.

The wilfully ignorant deserve none of my knowledge.

I'm always willing to talk to anyone, even a factory janitor often has more  useful  info

than the CEO.

Your dogma is obvious,so I won't waste my time.

Fri, 12/19/2014 - 08:52 | 5571971 Amerikan Patriot
Amerikan Patriot's picture

Bob, you need more than ad hominem attacks. 

You need facts.  Can you give us some?

Fri, 12/19/2014 - 08:54 | 5571978 GetZeeGold
GetZeeGold's picture

 

 

Cat seems to be freakin out right now......maybe check back later.

Fri, 12/19/2014 - 08:57 | 5571987 Urban Redneck
Urban Redneck's picture

Russia doesn't need f/x reserves to recapitalize its domestic banks.

Fri, 12/19/2014 - 10:08 | 5572176 IridiumRebel
IridiumRebel's picture

People need to stop spending time feeding the trolls here. All of these douchebags are here to serve the purpose of obfuscating and commandeering the conversation. Please, everyone, do not answer or engage these guys. It's useless. They are here for a purpose and when you engage them it plays right into their hands. Just scroll past. That is what I do.

Fri, 12/19/2014 - 10:48 | 5572314 zerohedgejjxxzz12
zerohedgejjxxzz12's picture

It goes something like this;

"Never argue with stupid people, they will drag you down to their level and then beat you with experience.”  M. Twain
Fri, 12/19/2014 - 09:12 | 5572029 actionjacksonbrownie
actionjacksonbrownie's picture

One of the smartest people I have ever met, ran a machine in a factory for 30+ years.

 

You never know where the enlightened will land

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