• Friday, December 14, 2018

Russia becomes 5th largest sovereign gold holder

Discussion in 'World Affairs' started by Hamartia Antidote, Mar 5, 2018.

  1. Hamartia Antidote

    Hamartia Antidote ELITE MEMBER

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    http://www.financeapprise.com/russia-becomes-fifth-largest-sovereign-gold-holder/

    Russia has overtaken China and became the fifth largest sovereign gold holder. In January, the Russian Central Bank has increased its gold reserves by almost 20 tons to 1,857 tons. Thus, Moscow is ahead of China, which has 1,843 tons.

    This is a continuation of the Russian policy on the purchase of precious metal. The country has increased its reserves each month since March 2015. At the same time, however, Beijing bought gold in last October 2016.

    Much of Russia’s purchased gold comes from local producers. The country is the third largest in the metal industry.

    The increase in Russian gold reserves will allow the country to diversify and increase its assets in foreign currency against the backdrop of continuing European and US sanctions. They were introduced in 2014 in connection with the conflict in Eastern Ukraine and the annexation of the Crimea.

    Over the past few years, only three countries in the top ten of gold holders have increased their reserves. These are precisely Russia and China, and the third is Turkey.

    At the same time, the United States remains the largest gold holder with 8,134 tons, most of which is stored in a facility at Ford Knox. Germany ranks second with 3,374 tonnes, and the International Monetary Fund is third with 2,814 tons.

    https://www.rt.com/business/419820-russia-outpaces-china-gold/
     
  2. Gomig-21

    Gomig-21 SENIOR MEMBER

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    The US is still so far ahead of everyone else.
     
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  3. 52051

    52051 FULL MEMBER

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    The gold reserves statistcs is a joke, it only count gold within the US based federal bank where the US jew banks can easily steal and/or replace with bronze bricks (see Germany transfer all their gold back home for that reason).

    Btw, China has been the largest gold importer and consumer in the world for past 5 or 10 years, and China stop to update their gold reserve volume to IMF and other international bodies and store their gold domestically.

    https://seekingalpha.com/article/1843792-playing-the-long-game-how-big-are-chinas-real-gold-reserves
     
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  4. Hamartia Antidote

    Hamartia Antidote ELITE MEMBER

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    As if China's gold vault is allowed to be inspected? You just said even the IMF has no idea what is in there. You guys constantly talk about hundreds of fugitive Chinese officials fleeing the country with millions. With all those fugitives don't you think at least one of them was smart enough to pull off a super big swicheroo?
     
  5. 52051

    52051 FULL MEMBER

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    Most of the fugitive officials are low class "coffee boy", despite of the fact they love the corruption heaven a.k.a the US, they dont know much about things like how many gold China has.

    And besides, even if the US know China's true reverse of gold, they wont disclose it, you know, after all the US dollar is a ponzi-scheme that could collapse at any time from now on, the scheme runners certainly dont need any more negative news for them.

    Just in case if you ask why China want to hide their true reverse, well, China dont like hype-building, they love the idea of hiding your true capability until an once-and-for-all moment arrives.
     
    Last edited: Mar 5, 2018
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  6. Jlaw

    Jlaw ELITE MEMBER

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  7. Hamartia Antidote

    Hamartia Antidote ELITE MEMBER

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    Oh LOL! Go ask the Chinese government for a similar report and see how far you get!!
    BTW do you know all the Chinese government locations and the percent of gold held at each location?

    The US government isn't going to tell him the exact gold count at FT. Knox because of security considerations. The US isn't required to hold our gold in one place

    If even Chinese government officials have no idea about the gold status why are you guys seeing something suspicious in the US not giving out specifics to the general public?
     
  8. RPK

    RPK SENIOR MEMBER

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    Indians laughing Why you guys fighting each other