Russia Busts ‘Gold-Selling’ Rumors, Reports It Bought Another 600,000 Ounces Taking Gold Holdings To New Record High


Russia Busts “Gold-Selling” Rumors, Reports It Bought Another 600,000 Ounces Taking Gold Holdings To New Record High (ZeroHedge, Dec 19, 2014):

Yesterday, when we reported the latest rumor of Russian gold selling, this time out of SocGen, we said that “it should be noted that SocGen and its “sources” have a conflict: in an indirect way, none other than SocGen is suddenly very interested in Russia stabilizing its economy because as we wrote before,Russia Contagion Spreads To European Banks : French SocGen, Austrian Raiffeisen Plummet” which also sent SocGen’s default risk higher in recent days. So if all it will take to stabilize the RUB sell off, reduce fears of Russian contagion, and halt the selloff of SocGen stocks is a “source” reporting what may or may not be the case, so be it.”

Moments ago, as if to deter further speculation that Russia is indeed converting hard money earned from real resources for fiat paper, the Russian monetary authority made it quite clear, that at least in November, Russia not only did not sell any gold, but in fact bought another 600K ounces in the month of November.


So we can now add another 600K to Russia’s most recent holdings:

Russian Gold Reserve

Which of course means that the very “Russia is selling” rumors that were so effectively used to keep the price of gold low into the recent risk-flaring episode, were capitalized on by the very same Russia, which we do however know sold some $8 billion in US Treasurys in October bringings its total holdings of US paper to the second lowest since 2008…

 Russian TSY holdings Dec 2014

… and which used these same low prices not to sell, but to buy. At the lowest prices possible.

Putin chess

Grandmaster Putin’s Golden Trap:

Very few people understand what Putin is doing at the moment. And almost no one understands what he will do in the future.

No matter how strange it may seem, but right now, Putin is selling Russian oil and gas only for physical gold.

Putin is not shouting about it all over the world. And of course, he still accepts US dollars as an intermediate means of payment. But he immediately exchanges all these dollars obtained from the sale of oil and gas for physical gold!

How long will the West be able to buy oil and gas from Russia in exchange for physical gold?

– And what will happen to the US petrodollar after the West runs out of physical gold to pay for Russian oil, gas and uranium, as well as to pay for Chinese goods?

No one in the west today can answer these seemingly simple questions.

And this is called “Checkmate”, ladies and gentlemen. The game is over.


The above article was translated buy Kristina Rus – which originally appeared in Russian  at

4 thoughts on “Russia Busts ‘Gold-Selling’ Rumors, Reports It Bought Another 600,000 Ounces Taking Gold Holdings To New Record High”

  1. No kidding.
    Bloomberg voices ideas as truth…………..they have lost credibility. What a pity, they were the only US news source that made sense. They used to feature economists and other intelligent people who discussed various ideas, but they never did stuff like this before.

    IF Russia sold gold like they did in 1998………………..of course Putin isn’t going to repeat the acts that brought the USSR down. The man is far more intelligent than the fools trying to pull him down. He has been stockpiling gold for years.

    I will say this again: Don’t be surprised if he comes out with a gold or silver backed Ruble……..the world is sick of worthless paper dollars and other currencies that represent nothing. This is why less than 30% of the world uses the dollar in international trades.

    I looked at the Social Security investments pages about two years ago, have not looked again because it was so disgusting $4.7 trillion, all in US Treasuries…………… DEBT.

    How long will the west be able to buy oil, gas and rare earth minerals from Russia in gold? That is all Putin is accepting, so who is in trouble? Who is close to bankruptcy? It isn’t Russia. Bankrupts don’t stockpile gold, they cannot afford it. Russia, and most of the BRICS members (except the dying Japanese empire thanks to Fukushima) are making money. Unlike the US, they are in the black, not the red. I cannot recall the last time the US economy actually earned some money.

    This man is a brilliant chess player. When the banks tried the “we won’t accept Russian currency any longer”…………..led by greedy goldman sachs……but not followed by B of A or Citibank……….I knew he expected this move………now, he will accept nothing but gold. GAD, I wish he were on our side!

    Well, wonder how the greedy guts are crying today……..the bank play was about the last one the US has left. Squeezing the EU to pay nothing but gold will make them see reason and join most of the world that has dumped the dollar. Some, but not all include Switzerland, Canada, Qatar, Turkey, Iran, many middle eastern countries, China, India, Brazil and much of South and Central America, South Africa, and many emerging African nations, Japan and many other nations, have joined BRICS and the open basket of currencies. Australia and New Zealand dumped the dollar in 2013.

    OPEC kicked the petrodollar to the curb three weeks ago when they refused to cut production at US request. They have not said it openly yet, but their behavior speaks volumes. They are already doing business with China and Russia quietly, it is but a matter of weeks or days before they openly speak out. The Saudis, like Israel both depend on US troops to keep power, but they are the only two nations left who might side with the US. Two out of 196 nations……that is a pretty poor alliance.

    BRICS went public last Summer after recruiting over half the world to their system. That is when they set up a fund equaling E100 billion to loan money to smaller nations who need to borrow money, but don’t want to be under US financial control. How many nations in the EU need to borrow money? They have 28 nations………at least half need money.

    All that remains holding the US dollar afloat is the EU, and they rely heavily on Russian gas and oil. At least half of the nations in the EU are hurting badly, they need affordable heating fuel for the Winter, and many need loans.

    As soon as some of the EU nations start playing ball with Putin, he will work with them. As long as they continue the fool US sanctions against Putin, he will continue the financial pressure. Financial pressure for an economic entity moving into deflation is unbearable, and they will not be able to hold out long. The open basket of currencies is also better business for them.

    Once the EU nations start dumping the dollar, it will collapse. There is nothing behind the dollar but ink. Already, the US is sitting on piles of paper money nobody wants.

    The US has done everything in its power to taunt and push Putin to these moves. The world will have no sympathy………most have already turned their backs in disgust. Obama has assured the US puppet government that “lethal aid” will be in their hands by the end of this week. In the meantime, US tanks roll towards Russia.

    Russia has done nothing militarily to warrant such outrageous behavior. To attack yet another country that has done nothing to deserve it will destroy the last shred of respect the US might have held………and the world will join with Putin against the US. War crimes after war crimes have taken us to this pass……all the hard won dignity and leadership skills have worn away to threats and bombs.

    I have watched this story unfold since Spring of 2010 when Hugo Chavez introduced the Sucre, the first electronic currency allowing members of his tiny trade association to trade with each other using their own currencies, leaving the dollar out. The Sucre translated the value of each currency at the time of transaction, rendering the need for any world reserve currency obsolete.

    Russia and China watched closely, Chavez was a close ally, and in November, adopted an identical system for themselves, and I knew this would be a big story one day, so followed it closely. They went on to recruit Turkey, Iran, and much of the world before going public in Summer of 2014 with their de-dollarization policy. Then, the big pool of fund to loan to other nations, and I realized the final steps were happening.

    If one looks at history, it has mostly been made by individual men or women, never gaggles of fools such as we endure today in the US. This is one of the key reasons the US lost its way, went off the rails, and is now an empire in collapse.

  2. Friend Stanley: The rot in the US system is greed, and in my experience, it is not limited to Jewish behavior. Greed is a horrible disease. I could go on an entire essay on the subject, but greedy people have holes in their souls they cannot fill because they don’t understand you cannot live just for yourself. There has to be someone or something you love.

    I saw a documentary on Pompeii. 54 people got into a cellar that actually survived the ash and rock, it had been re-enforced with barrels, so the roof held.

    Half of the people were on one side of the cellar, the remaining on the other. On one side, there was a group of people with the owner of the house, he had his seal ring on, that is how they were able to determine who he was, only the richest and most influential people wore seals. His companions were all clinging to gold, jewels and other pieces of material value. These people were all buried alive. None even held the hand of another.

    On the other side of the room were the people with nothing. They died holding each other.

    Who was the wealthier?


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