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To: C210N

Your chart of Russian gold reserves shows an increase of about 25 million Troy ounces, or around $50 billion.

Russia has been burning through about that much per month during this war.

A lot of their National Wealth Fund, from which pensions are paid (like Social Seccurity checks in the USA), was invested overseas - now mostly frozen.

It is Print, Print, Printity, Print; from here on out. Hello Argentina (or Zimbabwe) for a currency, and Hello North Korea for an economy.

Putin did that.

He drove the Russian economy and standard of living over a cliff. It is on track for 2-3 years of continuous train wreck, to a much much lower level.


31 posted on 08/21/2022 7:22:16 AM PDT by BeauBo ( )
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To: BeauBo
25 million Troy ounces, or around $50 billion...

Ummm.... what's is a "$50 billion"? Billion what? Fiat? That's for all intents and purposes worthless, given that Russia is moving away from fiat, and to PM-backed currency, along with BRICS+. How much gold is behind that $50 billion? I mean in physical, not paper...

32 posted on 08/21/2022 7:31:03 AM PDT by C210N (Everything will be okay in the end. If it’s not okay, it’s not the end.)
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To: BeauBo

Russia has been burning through about that much per month during this war.
_____________________________

So, Russia has no current accounts? No trade at all with the entire globe? No resources, manufacturing, domestic markets or internal value-added profits?

Reserves are just that. In reserve.

And the value of gold is being suppressed by the usual suspects, but we all know the pressure is building.

Russia is the 2nd largest gold producer on the planet. The Atlantic Alliance is dawdling (because they know more sanctions will yield the same results) over making sanctions on Russian gold more draconian, but it is symbolic, as the trade simply shifts to Asia.


38 posted on 08/21/2022 1:28:23 PM PDT by reformedliberal (Make yourself less available.)
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