Russia Is Hoarding Gold At The Fastest Pace In 12 Years

De-dollarization is accelerating...

Russia is adding gold to its reserves at the fastest pace in 12 years ...and dumping US Treasuries at the fastest pace since 2011.

The Central Bank of Russia (CBR) has been increasing its holdings of gold every month since March 2015. The country is currently the sixth-largest gold owner after the United States, Germany, Italy, France and China.

According to the CBR, gold reserves spiked to $455.2 billion between March 2 and 9 hitting a historic high not seen since September 2014.

“Our international reserves increased by $2.9 billion or 0.6 percent in a single week, mainly on the strength of positive re-evaluation,” said the regulator.

And in fact 2018 has seen the fastest increase in the value of Russia's gold reserves since 2006...

In January, RT notes  that Russia surpassed China, which reportedly held 1,843 tons of the precious metal at that time. Over the last 15 years, Moscow and Beijing have been aggressively accumulating gold reserves to reduce their dependence on the US dollar.

According to World Gold Council data, last year the CBR became a world leader in stockpiling gold.

The bank has more than doubled the pace of its gold purchases, statistics showed. It has been increasing Russia’s gold reserves to meet the goal set by President Vladimir Putin to make it less vulnerable to geopolitical risks. The Russian gold cache has increased by more than 500 percent since 2000.

And while the Russian central bank is buying gold with both hands and feet, it is dumping US Treasuries at the fastest pace for a January since 2011...

Is it any wonder that Washington is so pissed off at Putin?

Comments

Pinto Currency semperfi Wed, 03/21/2018 - 00:43 Permalink

Russia's oil sales to China are being paid in physical gold (PetroGold).

 

"... The Russians are already selling their oil to China against Chinese yuan and then buying gold on the Shanghai Gold Exchange using yuan-denominated gold futures contracts." https://www.lawtodaymag.co/2017/12/the-golden-petro-yuan-and-the-chinese-bride-in-the-arabian-desert/

 

PetroGold payment is going to spread with the Yuan oil contract that starts trading from March 26, 2018 forward - settlement for oil delivery is directly convertible into gold in Shanghai in the Free Trade Zone and available for export.

20x more oil produced daily by value vs. gold produced daily.

In reply to by semperfi

Davidduke2000 Pearson365 Wed, 03/21/2018 - 04:51 Permalink

lets see who is stupid.

Russia owes no money but has $500 billion in surplus mostly in gold and $100 billion in cash and has no deficit .

The us has a national debt of $ 21 trillion plus $200 trillion in unfunded liabilities, plus $$trillions in states and municipalities debts and a huge deficit od $1.2 trillion per year and zero gold.

 

In reply to by Pearson365

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In reply to by Adolph.H.

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In reply to by slopz38

Maestro Maestro Pearson365 Wed, 03/21/2018 - 06:55 Permalink

Of course they don't.  The average Russian doesn't think of gold as money or even an investment.

 

What do you expect from a race of morons who allowed a few thousand jews (the Bolsheviks) to murder 20 million Russians?  Watch this movie on YouTube:https://youtube.com/watch?v=X_RSDqBn0bA

And then they elect more jews as their heads of state.  Both Putin and Medvedev are jews:

http://lorddreadnought.livejournal.com/3483.html

http://elderofziyon.blogspot.com.tr/2010/11/is-dmitry-medvedev-jewish.h…

In reply to by Pearson365

Maestro Maestro Pinto Currency Wed, 03/21/2018 - 06:44 Permalink

The gold and the oil price will go DOWN on March 26 because these are all only rumors and LIES. 

The Shanghai Gold Exchange (SGE) was supposed to be a PHYSICAL GOLD ONLY market but what a big fat lie that turned out to be, with the price of gold going nowhere since the SGE's inception.  The SGE is just another paper market like the COMEX: https://www.sprottmoney.com/blog/the-new-shanghai-gold-exchange-does-an…

In reply to by Pinto Currency

Justin Case T-NUTZ Wed, 03/21/2018 - 19:03 Permalink

Professionals call it base building. Gold is affected by institutional money and the paper markets which manage the price. When the tide turns, that gold is the safe haven and protection from inflationary forces, the upside is going to catch many off guard. There has been a lot of dollars printed over the last 12 years and gold produced hasn't increased, actully decreasing. So all that currency created will have to fit into that available gold and equities. Just Apple's market cap can purchase all the PM company's shares listed on the TSX. So if you crunch the numbers a 300% rise in prices won't be enough to absorb investors appetite for gold (PM) available stocks with a significant price increase. 300% rise in stock prices is conservative.

In reply to by T-NUTZ

Justin Case Liquid_Silver Wed, 03/21/2018 - 00:51 Permalink

According to Salinas the current theme of whether "Trade War" is good for the US, misses the point entirely. The US collapse into the "Trade War" syndrome only obfuscates the real outcome:the end of the US dollar as the world’s fundamental or reserve currency. If countries are unable to obtain dollars for their central bank reserves,they will have to look for a substitute of the reserve currency. And the only substitute of the reserve currency will have to be GOLD: the ultimate currency. Other currencies face the same competitive currency devaluations because they also need to compete for exports, read cheap currency.

In reply to by Liquid_Silver

Maestro Maestro Liquid_Silver Wed, 03/21/2018 - 06:26 Permalink

Because they're all lying.  jewish and anglozionist bankers giving gold away at below cost to the Russians?

What nonsense.  If that were true, gold would be trading at 30,000 dollars or more.

The Russian central bank is owned and controlled by Rothschild-aligned interests.  The Russians can only buy US Treasuries with the dollars they get for their oil, NOT gold.  

That's what the Russian newspaper Pravda says: http://www.pravdareport.com/russia/economics/30-12-2014/129431-usa_russ…

In reply to by Liquid_Silver

Davidduke2000 semperfi Wed, 03/21/2018 - 05:21 Permalink

you did not talk about the losers who bought at $19000 and sold at $7000 last week and the losers who sold in between , while if you bought gold at the highest, you would have lost a maximum of $700/oz and by today's price it's less than $300.

Do the math.

I like how people buy at the cheapest price ever  and for some reason they manage to sell at the highest ever.

In reply to by semperfi

afronaut semperfi Wed, 03/21/2018 - 13:19 Permalink

That would just be luck. BC had no historical reference  to know if 100 $ was under valued. With a gold chart spanning 50 years or more, you would have easily come to the conclusion that 250 was under its intrinsic value. That's investing. Right now, as it stands, crypto markets are gambling. No real historical reference point to make an informed investment decision. 

In reply to by semperfi

Justin Case Four chan Wed, 03/21/2018 - 00:34 Permalink

Blockchain and crypto-currencies are here to stay.

However, crypto-currencies will fall to the wayside, pushed out by crypto-money. There are people who are putting crypto-money structures in place that are based on blockchain technology. They will make precious metals fungible, along with other valuable commodities. This means a de-facto democratization of money free from government manipulation, but most importantly free from inflationary debasement. This will constitute the return to sound money.

People who do not understand this concept, following the herds of whatever hype, will get their clock cleaned big time. The Bitcoin advocates must be careful to secure their exits in converting to spendable money. The recent crypto craze is a manifestation of the US$ being debased. What we witness is hyper-inflation. One is forced to spend more and more dollars to acquire the array of alternative currencies.

Jackass

In reply to by Four chan

keep the basta… Four chan Wed, 03/21/2018 - 05:50 Permalink

Russian under Putin in the last 18 years has paid off hundreds of billions of USSR debt including that owed by Ukraine of course and the small countries, raised quality of life, set up massive defence and much more. Gained respect, honoured agreements. 

Aust has done zero and it has a higher GDP and terrible private debt, public debt higher, quality of life much worse, little kids sitting floor at school as not enough seats because of the influx of Chinese etc to Melbourne. Gave money to Clinton and have people like Gillard, Downer and Turnbull. Aust surely could have done better with loyal leadership.

In reply to by Four chan

Maestro Maestro The Australian Wed, 03/21/2018 - 07:10 Permalink

ALL LIES!

Who OWNS that gold?

That is the real question that must be answered because:

1)The Russian central bank belongs to the City of London bankers.

2)The Russian central bank is prohibited from issuing its own currency the ruble without permission from Western bankers. The Russian central bank is allowed to issue rubles only after adding more US dollars to its foreign currency reserves.

3)Russia is only permitted to buy US Treasuries with the dollars Russians get for their oil, NOT gold.

4)Numbers 1, 2 and 3 above are written into the Russian Constitution! (Read the Pravda link below.)

 

5)Furthermore, Russia is FORBIDDEN to use gold as money or back its currency with gold, as all IMF member countries are.  The International Monetary Fund (IMF) prohibits monetary usage of gold by its members which include the USA, the EU member countries, India, China, Turkey, and Russia.

That gold bar Putin is holding doesn't belong to the Russians.  Putin is just a little rat who works for the bankers.  For how many YEARS now did Putin promise to nationalize the Russian central bank and throw out the money changers?

 

Find out and weep:

http://new.euro-med.dk/20141215-putins-confident-putin-to-nationalize-r…

http://www.pravdareport.com/russia/economics/30-12-2014/129431-usa_russ…

http://anonhq.com/checkmate-central-bank-russia/

In reply to by The Australian