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Russia overtakes China in gold reserves race to end US dollar dominance
Topic Started: Feb 26 2018, 11:27 AM (382 Views)
Siberian
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The Central Bank of Russia (CBR) boosted its holdings of gold by almost 20 metric tons last month, with reserves reaching 1,857 tons. It has increased its holdings every month since March 2015.
Russia is now among the top five gold holders after surpassing China, which reportedly holds 1,843 tons. Over the last 15 years, Moscow and Beijing have been aggressively accumulating gold reserves to cut their dependence on the US dollar.

https://www.rt.com/business/419820-russia-outpaces-china-gold/
Goood morning GULAG!!!
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Siberian
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with such pace Dollar Empire will be crushed in 1-2 decades even if nothing else happens. But it will definitely do happen...:)

Not some Rubini or someone else, but 2 Russian economists - Kobyakov and Khazin as early as in 1999-2001 discovered the reasons of then-future crisis of 2008 and further "Collapse of Dollar Empire and the end of Pax Americana" as they named their book.
Edited by Siberian, Feb 26 2018, 11:34 AM.
Goood morning GULAG!!!
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Drudge X
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Yawn.... I've been hearing this for the last 30 years. When is the new target date again?
Kate Steinle was separated from her family permanently but leftists didn't seem to mind.
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PATruth
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Russia ranks 48th in per capita GDP, below Malaysia. Would be such poor people be stockpiling gold? The should be stockpiling food.

I hear Putin plans to melt it down and make a huge gold throne?
"No. No he won't. We'll stop it."
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Siberian
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generally, if anyone wishes to raise one's educational level a little and to understand what is going on and why in economy, here it is -

Mikhail Khazin: U.S. will soon face second "Great Depression"
Renowned economist Khazin predicted U.S. financial crisis in 2000
29.10.2008

https://m.kp.ru/daily/24189/396866/


or the book itself, I am not surprised it is not translated to English, but I presume Google now translates it quite well. Just for online translation the text is too big..
If you manage to understand the content itself :)
It will require having brains :)
enjoy :)

https://khazin.ru/articles/145-glavnye-teksty-mkh/28143-zakat-imperii-dollara-i-konets-pa-ameri-ana

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Goood morning GULAG!!!
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PATruth
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Did renowned economist Khazin predict Russia's great recession in 2015 & 2016?

The country's economy was 0.6% smaller in the second quarter of 2016 than the same period last year, according to official data published on Thursday.

But there is a glimmer of hope for Russians who have seen their living standards suffer over the last year and a half -- the pace of the slowdown is starting ease. The economy shrank by 1.2% in the first quarter, following a 3.7% plunge in 2015."
"No. No he won't. We'll stop it."
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voted4reagan
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The Ruble is worthless... no matter how much gold backs it up... $.018 is all the ruble is worth...

Trump needs to focus more so on the male vote. He should have nationalized the Boy Scouts when they decided to admit girls.

Harambe4Trump AKA "FASHY"
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_g R_
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https://www.youtube.com/watch?v=H5h1i-7qt88

https://www.youtube.com/watch?v=qgI914jTzBA
The real leftists are the silenced majority, the sleeping giant.
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Siberian
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PATruth
Feb 26 2018, 12:59 PM
Did renowned economist Khazin predict Russia's great recession in 2015 & 2016?

The country's economy was 0.6% smaller in the second quarter of 2016 than the same period last year, according to official data published on Thursday.

But there is a glimmer of hope for Russians who have seen their living standards suffer over the last year and a half -- the pace of the slowdown is starting ease. The economy shrank by 1.2% in the first quarter, following a 3.7% plunge in 2015."
I hope Ringotuna did not see your post. I would worry about health taking in account habit to hysterically laugh...

did you know it's 2018 now? and Russian economy grows with about 2% without any QE or stimuluses, unlike Western economies.
Though, it doesn't really matter. By Great recession Khazin means 40% drop of GDP. This is how deep you're going to fall...
Take precausions no to be eaten by your fellow zombies.

Goood morning GULAG!!!
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PATruth
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Siberian
Feb 26 2018, 02:59 PM
PATruth
Feb 26 2018, 12:59 PM
Did renowned economist Khazin predict Russia's great recession in 2015 & 2016?

The country's economy was 0.6% smaller in the second quarter of 2016 than the same period last year, according to official data published on Thursday.

But there is a glimmer of hope for Russians who have seen their living standards suffer over the last year and a half -- the pace of the slowdown is starting ease. The economy shrank by 1.2% in the first quarter, following a 3.7% plunge in 2015."
I hope Ringotuna did not see your post. I would worry about health taking in account habit to hysterically laugh...

did you know it's 2018 now? and Russian economy grows with about 2% without any QE or stimuluses, unlike Western economies.
Though, it doesn't really matter. By Great recession Khazin means 40% drop of GDP. This is how deep you're going to fall...
Take precausions no to be eaten by your fellow zombies.

The Russian economy has been in decline or stagnant for the past decade. I know it's been good for Putin, he's amassed what 60+ billion dollars? I'm thinking Putin wants gold when the Ruble collapses. After all, Putin is the only one that counts in Russia, correct?
"No. No he won't. We'll stop it."
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Robert Stout
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The US claims that foreign gold stored in the USA as part of our gold reserves...The actual amount of China's gold reserves is suspected to be much greater than they claim....Can't we just be honest with each other ???................. ;)
Jesus can raise the dead, but he can't fix stupid
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Drudge X
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How will amassing gold benefit the average Russian when only the oligarchs and Putin are the ones hoarding the gold? Sounds like a dystopian future anyway you look at it.
Kate Steinle was separated from her family permanently but leftists didn't seem to mind.
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Robertr2000
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voted4reagan
Feb 26 2018, 01:28 PM
The Ruble is worthless... no matter how much gold backs it up... $.018 is all the ruble is worth...

God you're an idiot.

Ever think maybe it's possible to create a new currency backed by real things? (Gold, Silver.....oil, ect.)
"if that **** wins we'll all hang from nooses"
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_g R_
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Does anyone else here remember that the price of gold was under $300 an ounce for as long as the dollar has existed until just 15 years ago ?

Then there was 9/11, the Afghanistan and Iraq Wars, oil was over $100 a barrel for the first time ever, and by 2007, gold was approaching $2000 an ounce.

So it obviously stands to reason that subsequently the ones with the most wealth already own most of the gold. They are the speculators who knew the market manipulation was a win -win for them, but Americans are the ones paying for it at $20 Trillion in debt and in a global economy where 90% of the wealth is in the hands of 100 billionaires.
The real leftists are the silenced majority, the sleeping giant.
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Robertr2000
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American has very little gold, if any at all. Way too much debt, way to many unfunded liabilities.... Our pension system is done.

This is a major problem that can not be "fixed".
"if that **** wins we'll all hang from nooses"
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Robertr2000
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Russia probably has more than China.


How much Gold does the US have? It's probably a negative number. :shakeshead:

"if that **** wins we'll all hang from nooses"
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_g R_
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Cleverly located at the intersection of Gold Vault Road and Bullion Boulevard, the bullion depository at Fort Knox was constructed and housing the growing government stock of gold by 1937. Much of this newfound gold came into the government coffers as a result of President Franklin Roosevelt’s executive order confiscating privately held gold in 1933. Following the Second World War, with the United States emerging as the lone remaining superpower, the country’s gold holdings reached as high as 20,000 tonnes!
Posted ImagePosted Image
Edited by _g R_, Feb 27 2018, 05:08 PM.
The real leftists are the silenced majority, the sleeping giant.
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Robertr2000
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_g R_
Feb 27 2018, 05:02 PM
Cleverly located at the intersection of Gold Vault Road and Bullion Boulevard, the bullion depository at Fort Knox was constructed and housing the growing government stock of gold by 1937. Much of this newfound gold came into the government coffers as a result of President Franklin Roosevelt’s executive order confiscating privately held gold in 1933. Following the Second World War, with the United States emerging as the lone remaining superpower, the country’s gold holdings reached as high as 20,000 tonnes!
Posted ImagePosted Image
The US has no more gold. It's been sold into the market to prop up the US dollar.


The last audit of gold was decades ago.



Edited by Robertr2000, Feb 27 2018, 05:10 PM.
"if that **** wins we'll all hang from nooses"
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_g R_
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That's what the article is saying.


gOld

Given all the protection, it seems obvious that billions of dollars worth of gold—or something—indeed resides at Fort Knox. However, there has been considerable doubt over the years as to whether the depository actually held any gold. This is largely due to a well-circulated rumor during the 1970s that the vaults had been emptied by elites in banking in government, either leased out or confiscated. If you subscribe to this theory, the incredible amount of protection at the U.S. Bullion Depository is for little more than a pile of IOUs.

Although this rumor or theory is simply that, the remarkably high security that guards the U.S. gold reserves has understandably drawn the curiosity of the investigative press. The speculation has also been amplified by the degree of secrecy surrounding the reserves: Since the depository opened seven decades ago, the only time any member of the public has been permitted inside the facility was when members of the media were (however briefly) invited in on September 23rd, 1974. No photographs were allowed, of course.
Edited by _g R_, Feb 27 2018, 05:36 PM.
The real leftists are the silenced majority, the sleeping giant.
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George Aligator
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Who was that Fox News messiah who was selling gold coins, survival seed kits, bomb-shelter plans etc. in order to protect American patriots from the hyper-inflation that was going to destroy the dollar? I can't remember his name right now but he was #1 in conservative circles here on P.com. He used to pretend to be a professor, remember? He put his alarming predictions up on a blackboard and pointed at them with a stick. It seems like just yesterday. I guess I'm getting old. Oh, wait! Now I remember, he was Glenn Beck. Say, whatever happened to him anyway? He was going to be president by now according to our righties here.
Edited by George Aligator, Feb 27 2018, 06:04 PM.
Conservatism is a social disease
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