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Thread: Russia Adds 300,000 Ounces of Gold to its Reserves in July

  1. #1

    Russia Adds 300,000 Ounces of Gold to its Reserves in July

    Russia continues its de-dollarization project by adding 300,000 ounces of gold to its growing gold hoard in July.
    Chart:
    http://smaulgld.com/russia-adds-gold-reserves-july/



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  3. #2
    If it bought gold with its currency, isn't it de-rubelization?
    Quote Originally Posted by Swordsmyth View Post
    Pinochet is the model
    Quote Originally Posted by Swordsmyth View Post
    Liberty preserving authoritarianism.
    Quote Originally Posted by Swordsmyth View Post
    Enforced internal open borders was one of the worst elements of the Constitution.

  4. #3
    Quote Originally Posted by TheCount View Post
    If it bought gold with its currency, isn't it de-rubelization?
    No, he's alluding to them moving away from dollars as the reserve currency. Right now, this is small enough to go under the radar (relatively), but it's clear that Russia and China are prepping. If they did it faster, it would cause panic. My uneducated calculation is that this still gives us plenty of time before we really need to worry, but if they pick up the pace - watch out.
    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

    "It is difficult to free fools from the chains they revere." - Voltaire

  5. #4
    Quote Originally Posted by TheCount View Post
    If it bought gold with its currency, isn't it de-rubelization?
    No, it's swapping one reserve (dollars) for another (gold)

  6. #5
    Quote Originally Posted by CaptUSA View Post
    No, he's alluding to them moving away from dollars as the reserve currency. Right now, this is small enough to go under the radar (relatively), but it's clear that Russia and China are prepping. If they did it faster, it would cause panic. My uneducated calculation is that this still gives us plenty of time before we really need to worry, but if they pick up the pace - watch out.
    Exactly and some believe China and Russia have far more gold then they say and the US has far less

    Check out my two part series on gold and silver manipulation-start here http://smaulgld.com/gold-silver-price-manipulation/

  7. #6
    Quote Originally Posted by Smaulgld View Post
    No, it's swapping one reserve (dollars) for another (gold)
    Wow, that's a lot of dollars. What is that huge glut of new supply of dollars doing to the value of the dollar in currency markets?
    Quote Originally Posted by Swordsmyth View Post
    Pinochet is the model
    Quote Originally Posted by Swordsmyth View Post
    Liberty preserving authoritarianism.
    Quote Originally Posted by Swordsmyth View Post
    Enforced internal open borders was one of the worst elements of the Constitution.

  8. #7
    I believe there are more metals held by China , India , Russia than what people may believe.

  9. #8
    Quote Originally Posted by oyarde View Post
    I believe there are more metals held by China , India , Russia than what people may believe.
    and less held by the US
    Here is what the countries supposedly have:

    http://smaulgld.com/gold-reserves-country-top-twenty/



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  11. #9
    Quote Originally Posted by TheCount View Post
    Wow, that's a lot of dollars. What is that huge glut of new supply of dollars doing to the value of the dollar in currency markets?
    the gold bought and held by Russia in the grand scheme is very little. They bought 390 mill of gold in July and hold a small pct of their reserves in gold- working on putting that data together

  12. #10
    In June (latest figures available) Russia also increased their holdings of US Treasuries by $2.5 billion. http://www.treasury.gov/ticdata/Publish/mfh.txt

  13. #11
    Quote Originally Posted by Zippyjuan View Post
    In June (latest figures available) Russia also increased their holdings of US Treasuries by $2.5 billion. http://www.treasury.gov/ticdata/Publish/mfh.txt
    How much of that $2.5B is interest accrued?

  14. #12
    Quote Originally Posted by Zippyjuan View Post
    In June (latest figures available) Russia also increased their holdings of US Treasuries by $2.5 billion. http://www.treasury.gov/ticdata/Publish/mfh.txt
    But still down from $150 billion in October 2013
    http://smaulgld.com/foreign-holdings-u-s-treasuries/

  15. #13
    Quote Originally Posted by tod evans View Post
    How much of that $2.5B is interest accrued?
    If they used the interest to buy new securities it could be.

  16. #14
    Quote Originally Posted by Zippyjuan View Post
    If they used the interest to buy new securities it could be.
    Surely it doesn't matter to Russia if they're given green paper or blue...

    But to make it sound like they willingly undertook more US debt is probably disingenuous..

  17. #15
    Quote Originally Posted by Smaulgld View Post
    the gold bought and held by Russia in the grand scheme is very little. They bought 390 mill of gold in July and hold a small pct of their reserves in gold- working on putting that data together
    I think you're missing the fact that their central bank is desperately propping up the value of the ruble using HFT to regulate its value in comparison to the euro and dollar. They've had to increase transactions lately in order to prevent their currency from going directly into the $#@!ter.


    Despite all of this, mysteriously the ruble is depreciating and the 'rapidly de-dollarizing' dollar is appreciating. As if you could de-dollarize when your central bank's monetary policy is directly linked to the dollar.
    Last edited by TheCount; 08-21-2014 at 10:29 PM.
    Quote Originally Posted by Swordsmyth View Post
    Pinochet is the model
    Quote Originally Posted by Swordsmyth View Post
    Liberty preserving authoritarianism.
    Quote Originally Posted by Swordsmyth View Post
    Enforced internal open borders was one of the worst elements of the Constitution.

  18. #16
    Quote Originally Posted by TheCount View Post
    I think you're missing the fact that their central bank is desperately propping up the value of the ruble using HFT to regulate its value in comparison to the euro and dollar. They've had to increase transactions lately in order to prevent their currency from going directly into the $#@!ter.


    Despite all of this, mysteriously the ruble is depreciating and the 'rapidly de-dollarizing' dollar is appreciating. As if you could de-dollarize when your central bank's monetary policy is directly linked to the dollar.
    Yah... We in the west have our warts, lots of them, but if you are looking for sound, well-planned economic policy, Russia is not the place you should look....



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  20. #17
    Quote Originally Posted by TheCount View Post
    Wow, that's a lot of dollars. What is that huge glut of new supply of dollars doing to the value of the dollar in currency markets?
    Nothing ,you are printing tens of billions of dollars and it has had a very small effect on your currency.The dollar is maintained by trust.Look at how big of a hit the dollar took after 9/11 . At this moment the dollar is traded so much.But if the world even for a second thinks that the USA is going down the dollar will sink like a stone.
    Last edited by Demigod; 08-22-2014 at 02:51 PM.

  21. #18
    Article from March:
    http://www.rawstory.com/rs/2014/03/0...prop-up-ruble/

    Russia sells off record $11.3 billion in foreign currency to prop up ruble

    Russia sold a record $11.3 billion in foreign currency to support the ruble on March 3, the so called “Black Monday” when the ruble came under unprecedented pressure due to concerns about conflict in Ukraine, central bank data showed on Wednesday.

    The Russian central bank sold foreign currency to buy rubles and prevent the Russian currency from falling further, after the market reacted with panic to parliamentary approval for President Vladimir Putin’s request to allow military action in Ukraine.

  22. #19
    All they really need to do is make circulating rubles in precious metals .

  23. #20
    That would help reduce their gold reserves.
    Last edited by Zippyjuan; 08-23-2014 at 01:15 PM.

  24. #21
    Quote Originally Posted by Dforkus View Post
    Yah... We in the west have our warts, lots of them, but if you are looking for sound, well-planned economic policy, Russia is not the place you should look....
    I think that this shows just how effective Russia's psyops / information ops strategy is. Many 'alternative thinkers' in the US, both right and left wing, eagerly consume Russian government media like RT. This can especially be seen on neocon forums like Free Republic, where people whose foreign policy is normally 'rah rah bomb 'em kill 'em' were strongly divided when $#@! kicked off in Ukraine.
    Quote Originally Posted by Swordsmyth View Post
    Pinochet is the model
    Quote Originally Posted by Swordsmyth View Post
    Liberty preserving authoritarianism.
    Quote Originally Posted by Swordsmyth View Post
    Enforced internal open borders was one of the worst elements of the Constitution.



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