Moneymoney

Wed Jun 13, 2018, 12:50 PM

US Paper Gold Suppression Allowing Russia & China to Buy Real Gold at Discount Prices

Published time: 13 Jun, 2018 10:44

Efforts by the US to suppress gold prices in order to prop up the dollar are allowing Russia and China to build up huge reserves of physical gold by purchasing large quantities of the precious metal at significantly lower prices.
Net central bank purchases in the first quarter of the current year surged by 42 percent compared to the same period a year ago, totaling 116.5 tons, according to data compiled by the World Gold Council (WGC). The number reportedly represents the highest quarterly total since 2014.

Over the past two decades, Russia has been ramping up the purchases of physical gold. In May, the country's gold reserves surged to 1,909 tons, Russia's Finance Ministry reported. Since 2000, the country’s gold reserves have surged by 500 percent.

Russia remained the most prolific purchaser of gold in the first quarter of 2018. The country’s holdings currently account for 18 percent of total reserves, according to the WGC.

Last month, Russia managed to force China out of the top five gold holders, which also includes the United States, Germany, Italy and France. However, China is not far behind, with a reported 1,843 tons of gold held in its national reserves.

MORE...

https://www.rt.com/business/429573-us-china-russia-physical-gold/

Boy-o-boy, those US sanctions are knocking the hell out of that Russian economy, eh?

1 replies, 47 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply US Paper Gold Suppression Allowing Russia & China to Buy Real Gold at Discount Prices (Original post)
RCW2014 Jun 13 OP
akaConcernedCanuk Jun 13 #1

Response to RCW2014 (Original post)

Wed Jun 13, 2018, 06:06 PM

1. Apparently, bombing the crap out of, and sanctioning the shit out of USA's

perceived/claims of threats to it's "national security" ain't working.

Hell - now they are even pissing off that "rogue" nation called Canada . . .

USA has made de facto allies out of the 2 other major nuclear powers, China and Russia with it's consistent infringement and interference in their hemisphere . .

THEIR HEMISPHERE!

If only we'd spent those trillions of dollars and generations of lives/energy improving our own lot In our own hemisphere - Hell, - we've even contributed to the demise of our Southern Hemisphere neighbors in Latin and South America with interference . . .

All this so called "fighting them over there so we don't have to fight them over here" crap is gonna bite us in the ass - sooner than later I fear . . .

(sigh)

CC


Reply to this post

Back to top Alert abuse Link here Permalink

Moneymoney