This page has been archived and commenting is disabled.
Russia Busts "Gold-Selling" Rumors, Reports It Bought Another 600,000 Ounces Taking Gold Holdings To New Record High
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.
- 43394 reads
- Printer-friendly version
- Send to friend
- advertisements -



can't help it but have always call it a two-bit-coin!
Some of you may like this
1 oz 2014 BitCON Silver Round
Enough said.
If Putin was selling gold, oil would $110 / barrel.
I was told by a customer with a Russian accent that a) there is No electricity in the Crimea except if you have
your own generator and b) Russia will sell tons of gold when it reaches $2000/oz (USD)...
not sure if I believe him...but he did have an accent
"After failing to find a buyer for their large stockpile of gold, Russia has decicded to temporarily pause the sale of their gold and wait for a time when someone might be interested in buying. Professional economists believe Russia may be stuck with this inventory as buyers of gold have become scarce."
-Bloomberg
Did Bloomberg's rag actually write that crap? You must be joking. I was going to write "dwarf's rag" but that would not be politically correct.
how about "Jewish Press"
Propaganda at it's finest.
oyi vey, bloomberg already?
Russia's economy is too dependent on the price of oil being very high for their own good. The Ruble is quickly becoming worthless as a result. If the price of oil doesn't go back up they will have no choice but to sell assets for hard currencies to pay their bills.
They'll do what they have to do. Read about the siege of Leningrad. They came through that. They're not going to sit down. Sitting down is an American thing, to the tune of about 53% of the population.
The data that was linked to in this post was for the month of November. The collapse is happening in December. In other words, it is is irrelevant as to what is happening now.
Clearly there is a strong desire by many on this site to see the United States replaced as a world power. I have no idea why this is. Does anyone really think that Russia or China is a more responsible actor in world affairs than the United States? Only a fool would answer that question with a 'yes'.
I do not want the US to be replaced as a world power. What I do want is the return of a once great Constitutional Republic that was the envy of the world. But not this, not what the US has become - a worldwide destabilizing entity.
I would rather see NO WORLD RESERVE CURRENCY other than Gold and have the Central Banks of the World, Russia's included, collapse, burn into ashes, and then swept into the dustbin of the really bad ideas from History.
"Does anyone really think that Russia or China is a more responsible actor in world affairs than the United States?"
Oh yes, absolutely...
And I don't give a fuck about your opinion of my foolishness.
Well, there is the fact that China build whole cigies that no one lives in . . .
and Russia fires torpedos in their submarines with the torpedo doors closed . . .
As an american i can say one thing Putin loves his country and his domestic approval rating prooves it, We have no such leader, we are fucked, i hope he makes it quick and painless.
US Goldman and Obama have Amerikan Patriot for a troll so there's always that.
Putin/Ventura 2016. 90% approval.
This is what happens when you start telling the truth. I think Vlad gets it. You might see it here in about 15 years, but I doubt it.
IQE, you live in MN? No, Ventura is a scumbag, sort of an open secret in MN at least among people who have extracted their head from their anus..
@ Amerikano Patriot Listen FuckWit You've earned your .GOV paycheck this month, maybe a little bonus , for your frequent and long-winded incipient effort to engage here.
Russia stacks gold while we stack enemies.
you're good......
During this full out assault on Russia, Putin has acted like the only adult in a room full of kindergarden children, but when his patience runs out and he comes out swinging, it might get ugly.
China has a ton of UST's to lend a hand.
We lend. Why you mad? Solly Charley.
Read a couple of bios on Putin and he is well-known to have a history of doing just that... coming out swinging. He has a short fuse and doesn't like getting fucked with. We are poking the wrong hornet's nest.
Whats happening in gold today is no different than 1971. France asked for payment in gold which could not be paid so the US defaulted. Refusing to give back Germany's gold IS default. China, Russia are sitting on enough US debt that at a time of they're choice should they ask for payment in gold the USD system is gone.Western central banks must be shitting themselves cause "gold is money" and the US and by extention Europe have none. Ponzi's collapse when no-one has any more to put in. The only out now for the west is to attempt a massive takedown and try to buy back at lower prices. The takedown will happen but anyone with physical, has it for exactly this reason, and will only part with at much higher not lower price. Got gold?????
Um, The US debt they hold is in $Dollars, not gold. TPTB can print and print and print that stuff.
You are correct, TPTB can print and print. Problem is that nobody wants it including central banks that print it. The Swiss are printing and delivering it to banks who want no part of it cause they can' t get a return on it. The central bank also does't want it so they charge the banks to take it back. Fiat is fine until it cost too much to hold.
But they can get rid of all of it and not buy more.
Foreign reserves by definition and design was built up during good time and esp for russia when oil price was near $100. When oil price declined , you run out of fund to build reserves and in a crisis you sell them to reverse the crisis
LOL, Russia has little debt, unlike Japan and the US.
Time for Russia and China to return the favor and take down the Yen, Euro and dollar.
You smell smoke in the dervatives? All it needs is a push.
They have little debt because no one will extend them much credit.
Hopefully after the reset talmudic overlords will still see value in our species as slave gold miners, you must pray with your filthy gentile goyim hands clasped together ever so tightly this be the case!
Hopefully Putin will have nuked them into moon dust by then.
Breakfast of Champions......
https://www.youtube.com/watch?v=yu8_-jNhwT8
Thanks for the link. I'm 68, free of doctors and their drugs, but I do have an idle morning. I'm finding that breakfast suggestion to be very inspiring.
"....next thing I knew there three of us there singing this tune....."
Who in their right mind would sell physical gold? I would sell the hell out of paper gold to get out of that.
ZH, you were part of the rumor mill.
Russia says 'thank you very much for holding the price low for us' ROFL
That's about right. It has to make the competition nervous, the dollar boys are holding the price of gold down using every dirty and illegal trick in the book, and then they try to pretend that all the foreign gold purchases don't matter? But it does, it does...
société générale !!!??? : ))
Do you know what that means in RUSSIAN transcript ?
In RUSSIAN - Sosi genjitalj , which means - Suck (my) genitalia !
Ili Sosi Generalno.
Great for Russia!
Good for them to not sell off collateral that defacto backs the Ruble!
It cannot enhance confidence in the Ruble if it is gone. So, well done!
Best not to sell the treasuries, just yet, I would think...unless you can trade them directly for Gold.
Why?
Because right now, rightly or wrongly (WRONGLY!!!) the market values Treasuries more than most any asset, and Russia is having a LIQUIDITY problem due to a number of factors, including oil, and the promise of confiscation of foreign holdings, all of which put downward pressure on CONFIDENCE IN THE RUBLE.
Selling what the market THINKS is valuable and trading it for something the market THINKS is less valuable will not enhance confidence in the Ruble.
This is true for Gold as well. The market THINKS Treasuries are more valuable than Gold. But Gold is a different case than other assets. Other assets are all DIRECTLY tied in value to Treasuries through the Fed's monetary creation mechanism due to the Dollar's reserve currency status. Gold is INVERSELY TIED.
So it would be wise to exclude Gold from that calculation of selling less valuable stuff to buy more valuable stuff, because Gold has value that is not dependent on the value of US Treasury Bills, and is in fact INVERSELY tied to them while confidence in the Dollar reserve system remains high. This makes Gold a perfect hedge to the Dollar and to Treasuries.
Now, this is not apparent at first glance because of the direct and intentional effects of Central Banks leasing of gold, and their practice of fractionally reserving Gold .. by this I mean their practice of counting the same gold as both being an asset to them, and then also 'leasing' Gold to independent people and businesses (selling the physical and shipping it to them) with the promise of a return at a future date. Both of these mechanisms ebb and flow. And the fluctuation in these mechanisms, and in confidence in the Dollar Reserve cause large percentage fluctuations in the price of Gold.
I'll bet you didn't know that your wedding ring may be made of Gold that some country is counting as being part of their National Gold, did you!!!
What is important to understand is that the fluctuations in the price of Gold due to the effects of these manipulations is LARGE in terms of Gold's nominal price, but SMALL in terms of the price of Gold as it would be in the absence of a Dollar Reserve. Here's a clue...Before this nearly century-long experiment with paper money began, Gold backing for currencies was between 10% and 40%... with the more stable and wide-spread currencies featuring the larger percentage. The currencies with little or no backing, had wild fluctuations in value, and people used them only to the extent that A) they could spend them instead of gold or gold backed currencies or B) they were forced to use them at gunpoint.
So a very cogent question to ask would be: Given the current quantity of unbacked currencies, how high would the price of Gold have to be for them to become backed. And the answer is no one knows exactly because it would depend on the percentage of backing they chose. But $10K/oz would be a very low number and the high number is astonomical.
For the Dollar alone, to resume backing at 40% as in the past, would require at least a $54K/oz price, assuming the US had all the gold currently estimated to be above ground with which to do the backing.
So... if the world rejects the Dollar it will cause a huge wealth trasfer to holders of Gold, no matter what the new reserve standard, and this wealth transfer would be magnified many times if the world chose to mostly-uniformly move to Hard Money (i.e. money that makes a clinking sound when in cash form).
That is why Gold should be the exception to my proposed policy for Russia of 'Sell stuff that the market thinks is worth less, buy stuff it thinks - or will think soon - is worth more'.
Russia's problem is CONFIDENCE (particularly amongst Russians who trust foreign currencies more). And Russia's Ruble problem is in CAPITAL FLIGHT, where foreigners don't want to keep Russian assets (including Rubles) for fear they will be confiscated. And Russia's Ruble problem is in COLLATERAL FOR THE RUBLE - OIL, GAS, and everything of value the Government and territory owns that can back the Ruble.
When you ask someone to accept your currency, you are asking them to trust your promissory note. You are asking them to give you a loan. It is all about trust.
The way to get loans is to show you don't need them. Then everyone wants to lend you money.
Napolean won at Waterloo! Sell Mortimer! SEEeelll!!
I see $739 round trip from Minneapolis (MSP) to St. Petersburg(LED) in mid-January. That is just dirt cheap airfare. That is fucking HALF the price I paid in 2003. There is the visa to consider but if you have an invitation then you are a fine and that will not break you. It is is a $2000 dollar trip these days and I spent $15000 on the whole adventure and that only counts for me OFFERING to marry her and any not anything afterwards execpt for a Ring and a return visit and all of the paper and fees.
If there is ever a time to go to Russia it is right now. It is as cheap as it will ever be if you are young single male as far as air fare. Add the $220 visa bribe. Plus $30(or so) to whoever will sponser you to the $739 airfare I will be a $50 cab ride from Pulkovo 2 to wherever you are staying. That would leave you around $400 spend on whatever you need such as food and booze assuming you are not some outraagueously expensive hotel as I did. That $400 would last you about one week depending on where you stay and what you choose to spend your money on.
This is not bad deal at all. I went there a couple of times and I went to more than just St. Petersburg and on more than one trip...when you start doing that, things get very expensive. Most of the young Russian Russians speak fairly decent English these days. I think that door is wide open for St Petersburg. If you want to talk about Russians now seems a good time to go see them as they are. St. Petersburg is just beautiful for a visit.
Just remember, they may not like you.
Singapore Airline is non-stop to Moscow from Houston and other cities
Is best airline of all.
Fly from a few US cities. From Houston is much petroleum people.
Often lowest of any and non-stop.
I'd take Russian claims with a big helping of salt. Dothey report all their goldbys and sells like this? Maybe they had both buys and seels in this time frame and only reported the buy.
HA HA HA HA there is no doubt that Russia was not going to sell Gold !
even the Fake market wasn't reacting
END THE CENTRAL BANKS and get rid of their senseless WARS !
only a small bunch of psychopath bankers stand in the way of real peace for the world... you just have to do the right thing and end their cruel reign !
Resist them at all costs !
Very interesting decoding of the latest economic games in Russia.
If I were Vlad, why would I ever consider selling physical gold? Fuck the debt; all I want eventually is enough gold to back the currency and in the process ruin the bankrupt US Dollar as a reserve currency. It will be interesting to see which country [China or Russia] does it first and becomes the world's de facto kingpin.
www.traderzoo.mobi
Made up stories about mythical Russian gold selling speak to desperation. What else are they willing to do to make gold go down, and how much longer can they do it? Cracks in the facade are showing.
trust but verify
By Anna Andrianova and Laura Clarke Dec 19, 2014 9:26 AM CT
Let the Bloomberg back-pedaling begin...
http://www.bloomberg.com/news/2014-12-19/russia-expanded-gold-holdings-f...
I really need to be working at work.
bloomberg = b*llshit
The bloomturd article and zh said for the month of November . This is less than a week before Christmas. Is this just a little propaganda play to make Putin still look like a the man in charge?
Just keep sucking that pooty poot.
Both gold and oil are hugely underpriced right now so it's not a brain twister what you should consider investing in. The Russians are verywise...been around for centuries, similar to China. Besides, they must be skepitcal about investing in moar USA RE since that can be "confiscated" in a second when they disagree with Uncle Sam.
so 1 Kg = to 32.1 OZ One ton = to 32,000 oz 600 thousands over 32,000 = to over 18 tons of gold ! Is a country that buys that much gold in one month , at risk of Bankrurupt ? I would say no ! The priority is to get rid of FIAT money and keep the Gold !
Russia's gold holdings increased because Putin is currently ONLY SELLING RUSSIAN OIL FOR GOLD!
Checkmate!!!
Thanks for that, best thing I've read all year. Everybody HAS to read that article, it puts you right in Putins mind and brings the plot of the whole show together.
you were expecting even a pinch of truth from the banksters? not even a smiggen baby
Vlad + Elvira = winning team!
Obozo + Yellen = stupid losers...
"Very few people understand what Putin is doing at the moment. And almost no one understands what he will do in the future.
No matter how strange it may seem, but right now, Putin is selling Russian oil and gas ONLY for physical gold.
How long will the West be able to buy oil and gas from Russia in exchange for physical gold?
And what will happen to the US petrodollar after the West runs out of physical gold to pay for Russian oil, gas and uranium, as well as to pay for Chinese goods?
This is called “Checkmate”, ladies and gentlemen. The game is over."
http://www.silverdoctors.com/checkmate-is-russia-selling-oil-for-gold/#m...
True?
Interesting, I wasn't sure Putin was reading my messages. Good to know.
What may not be obvious to some: this can only go on so long, because the suppression costs dollars and physical gold to keep going. The cost to the manipulators is much lower than it should be, because they have almost complete control of the world financial system. But there is a cost, they can't keep the manipulation going forever, and the manipulators know it.
In fact, the manipulators depend upon China and Russia to keep it going!
How so? Either one could easily buy 10 times more gold, or 100 times more silver, than can be delivered... which would utterly and completely END the manipulation, and rocket gold and silver prices past the moon.
However, China and Russia love being able to buy gold and silver at 1/2 to 1/3 the natural market price, so why would they call the bluff before they purchase all the gold they want (perhaps "all the gold they can get")? Answer: they won't.
But... and this is the key point... once this suppression game runs it course, and the west has been drained of their gold, the "price" of all that gold and silver China and Russia have accumulated at bargain prices will... triple, quadruple, more. And we're talking "in real terms" here (at least in the short to medium run).
So... the USSA gets headlines, while China and Russia make out like bandits. As do all private holders of physical gold and silver, assuming they keep it well hidden, and tell the predators "we ain't got no gold or silver no mo" when they attempt to confiscate.
dup. sorry.
I don't know whether to believe this or that he scored 6 goals in one game. They both can't be true.
:) :) :) :)
Russia has gold. The US has... chart porn.
If you guessed Fed Gov's biggest asset is student loans, you are a winner!
http://mises.org/blog/us-fedgovs-biggest-asset-student-loans
My chart work looks like a potential leg down next week, I am reluctant to call it a crash,
even if it is western paper crash.
Then up at 5 weeks for end of Jan, then a long decline from 5 to 30 weeks, June-July.
I will want to buy end of June. I do have some just not buying more yet.
The paid posters here seem to object to the fact that Zero H tends to post more than one point of view. Hence the SocGen piece. whereas their employers and MSM everywhere are stuck with the party line. No dissenting opinion or alternate points of view are allowed.
In my mind I would rather read everything and then: (wait for it cause it is radical thought) And then.....make up my own mind. Oh heavens what a plan? Seek information, research opinions of espertise, filter it and then decide for myself.
Frigging idiots trolling for a paycheck. Hope at least one or two of them are actually reading replies and maybe becoming subversive and thinking for themselves. Go for it and troll all you want. Just see beyond your confined propoganda. I won't tell.
Russia is the place to watch folks
Swedish IKEA To Temporarily Halt Sales In Russia Due To Huge Demand
Options Traders Turn Bullish on Russia ETFs
Russia’s First Business Jet To Deliver Passengers To VIP India Client
Australia’s Tigers Realm Receives Coal Mining License For Russian Project
Ruble Decline A Boom For Russia’s Mining and Metals Market – Deutsche Bank
Dubai’s Gold & Commodities Xchange DGCX To Start Russian Ruble-Futures, Gold and Oil Contracts
Sweden’s Nordea Bank Sees Profit of €40 Million From Russian Investments…..Russian Lending Rose 8.2%
E.U. Eases Sanctions On Russia’s Top Banks, Oil Companies
Oxford Study Confirms Europe’s Significant Dependence On Russian Energy
Western Venture Capital Continue Investment in Russia
Russia selling
Buy in Nov. Sell in Dec (Crisis) in bold
Supporting link does not show Dec.
No don't check just down vote
Actually you read it then but your mind screamed "No" so loud you could not take it in.
Vote yes if you go and read it