November 2014. I wonder if they really sold part of their gold or, whether they're continuously increase the numbers. I'm not sure whether the rumours of Russia selling gold to cope with their crisis have any real basis...
Illogical to sell gold they have so many other things to sell that are mispriced to the upside like US debt!
If Russia and China, separated initiate their currencies to be back by gold... and so the BRICS follows it too.... it will be the beginning of a massive currency wars/trade wars/cyber wars and a possible major war..... Russia will defend themselves now... especially that the US and Europe are eager to impose more sanctions.... What Russia could do is: To completely stop gas to Europe.... it would break the whole EURO zone in half this winter in few months..... +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ In my Honest Opinion Only.... Our Human race will never ever evolve..... we are greedy and like material/physical things... we like power and we are willing to step on heads of others just to get ahead.... It's sad.... we should be really directing half of our time/energy towards the spiritual world.... that's where we are going to spend most of our time.... time on this planet is nothing.... material/physical is only a vehicle..... will we ever learn ? lol
It's funny that it is never said from who. Who was the seller? A question that can be placed in numerous topics like this. To give the figure a context, these are the governments gold stock changes (small figure country-cases ignored), between 2011 quarter 1 and 2014 quarter 3, in tonnes: Big Buyers: Turkey 116.10 > 523.76 = +407.66 Russia 811.11 > 1149.78 = +338.67 Kazachstan 67.32 > 184.2 = +116.88 Korea 14.44 > 104.44 = +90 Iraq 5.87 > 89.82 (figure 2014Q2, 2014Q3 -) = +83.95 Thailand 108.86 > 152.41 (big increase 2011Q123) = +43.55 Philippines 153.68 > 194.85 = +41.17 Mexico 100.21 > 123.12 = +22.91 Belarus 30.27 > 38.97 = +8.7 Total (big buyers only) = 1153.49 Big Sellers: BIS 526.69 > 400.55 (big drops 2013Q34 2014Q3) = -126.14 ( Bank of International Settlements, very volatile stock due its existence reason / forex) Libya 143.82 > 116.64 (big drop 2011Q3) = -27.18 Germany 3400.95 > 3384.19 = -16.76 Ecuador 26.28 > 11.79 (big drop 2014Q2) = -14.49 Total (big sellers only) = 184.57 600,000 ounces is 18.66 tonnes. By the way, the gold annual average price dropped over this period, from 1571.52 to 1267.63 (as of now) The gold stocks of the other governments and its institutions (alike IMF) didnt change (much) over this period. One may wonder why precisely Turkey, Russia, Kazachstan, Korea, Iraq, Thailand, Philippines purchased gold since 2011. At HIGH prices. And the other, let's say western, countries sold at decades-LOW prices around 2000. Both cases are loss scenario's. Who were, and are, they sponsoring? The LBMA big systemic and also bullion banks that they fined heavily in recent years? Figure source: http://www.gold.org/download/file/3265/Quarterly_gold_and_FX_Reserves_Q3_2014.xlsx
How does Russia buying loads of gold and Russia with a currency crisis fit together? Genuine question?
Hey gang, I've been lurking on here for about a year now and thought I might as well get active. I'm not one for intro threads so here goes... I've been paying pretty close attention to the US-Russia conflict and found this Global Research article very interesting. * Russia has been setting up trade deals with major trading partners to trade in local currencies. * Because of this Russia needs Rubles to trade. * Putin is intentionally letting the Ruble collapse so that he can buy them all back with their dollar reserves at a massive discount. * This would have the added effect of flooding the market with dollars. http://www.globalresearch.ca/free-f...ias-economic-wizards-whose-chess-game/5420796 Seems to make sense to me.
They've been talking about regional trade since this whole thing kicked off but it doesn't make a whole lot of sense. They claimed they would replace their western grain imports with food from serbia and montenegro, do you know how big montenegro is? Is Korea going to sell tankers and earth moving equipment in rubles? Will Japan sell them cars in rubles? Why would they? They could only spend them on things from Russia. They just don't have the industrialisation to pull off that sort of isolation without a massive shake up in their economy. China could fill a lot of the gaps but that would require high level collusion to makes arrangements to keep the value of the ruble up, more likely they would arrange some sort of bartering deal. Regardless, they will end up with a big trade imbalance. They had a big stick when oil was king but what else do they export besides military equipment? So their plan is to deliberately wipe 50%+ off of the value of their economy and then completely deplete their foreign currency reserves to buy it back when it's cheap? That's a good way to kill FDI and general confidence in their economy (not to mention how foreign ownership is viewed). So they get all their rubles back and then they do what with them? Force people who want to buy their exports with them? Their only exports will be energy close or below the cost of production which might be further discounted if their potential customers are limited by political considerations, China needs energy but they won't pay market price for it if they know Russia has a glut due to lost western aligned customers.
Russia has oil, gas, coal, and timber reserves..... they've got almost no debt and they are in better position then many other Oil and Gas producing countries..... They've signed the largest gas deal in history..... they are very well positioned in my honest opinion..... and they cannot be bullied by the americans like the Libya, Iraq, and many other small countries....
1) They are all in bed together, it's a charade. 2) The conditions of the public in Russia vs. the Elite are even worse than in the West. 3) It's all FIAT!!!! So doesn't really matter as unlimited amounts can be produced any party. 4) FIAT is merely a tool to advance their agenda against an ignorant population. 5) Are you still reading this thinking that there is some real global narrative that isn't engineering like a fairy tale? If so wake the F up!
I've rather wondered how things work internally with Russia. A lot of years ago, there was a report that some miners/farm workers/whatever (but LOTS of people) were owed years and years worth of wages by the then government. So no income for several years, but they still have jobs which they turn up to do, and are owed wages for. How does that work? Is rent, groceries, etc just done on credit? Does it still work that way?
That might not be such a bad idea after all. But can you pick the bottom? No-one can guarantee it won't sink lower by next year. I can imagine ruble enthusiast, Jim Rogers must feel awful now.
