Russian Central Bank Adds a Record 223 Tons (2.7 Million Ounces) of Gold in 2017
The Russian Central Bank adds 300,000 ounces (9.3 tons worth ~$400 Million USD) of gold to its reserves in December 2017, bringing the total acquisitions of the precious metal in 2017 to a record 223 tons (2.7 Million Ozs worth ~3.6 Billion USD).
The Central Bank of Russia has added over 1,000 tons of gold since 2010, and December’s 9.3 ton addition brings the official Russian gold holdings to 1838.211 tons.
Russia now holds the sixth most Gold of any nation (If you believe the US sill has their gold), close behind the People’s Bank of China. In dollar terms, Russia's gold reserves are now worth $76.647 billion and constitute 17.7% of overall Russian reserves.
Meanwhile, Russian holdings of U.S. Treasuries were just above $100 billion for eighth month in a row.
This is on the heals of the news that China is looking to reduce its holdings of US Treasury bonds which have been held flat for the last few years.
The fact that China and Russia are not adding to their US debt holding but are hoarding gold like that dragon from Lord of The Rings doesn't need an explanation.
Gold is money and a proper reserve holding, the US dollar is just debt.
Putin is no mug. The Russians can see that the debt ponzi in the US is coming into its final stages.
I visited Russia a few years ago. I think most Americans think of it as a shithole and it is far from it. Moscow was more advanced than just about any US city in many ways... Once you get outside of the city it changes dramatically, but the sleeping bear will wake again.
everyone bows to you when you owe them tons of money, if you add an army that can crush you ... the debt becomes irrelevant.
would then be... the army in its entirety a coin?
If I owe you 100 Euro, that is my problem, if I owe you 100,000 Euro, that is your problem :-)
exact my point and you guys got the MVP of that aka Trump ;) so in one hand i wouldnt care much about the debt and in the other hand i'd be so worried about the gambler playing the game lol
Great!! You are awesome @matthewwarn