Posted on 12/20/2014 7:53:44 AM PST by dennisw
Russia Busts "Gold-Selling" Rumors, Reports It Bought Another 600,000 Ounces Taking Gold Holdings To New Record High
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 sell-off 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.
This Zero Hedge article was posted on their website at 9:40 a.m. EST yesterday morning---and I thank Manitoba reader U.M. for her final contribution to today's column.
(Excerpt) Read more at caseyresearch.com ...
MUCH MORE at ZERO HEDGE
Bad Vlad is doubling down on AU
When nations like Germany and Russia are buying up gold in large unities it should be viewed as a credible warning sign that the economy is not in the shape the Emporer says it is...
Are you suggesting that our overlords, the moneychangers and the Ruling Class might not be completely honest about the financial health of all these countries? Are you trying to get put on a list??
The ultimate meaning of this and what it all means with respect to the global situation aside, if I were whoever buying this 600,000 ounces, I’d demand ACTUAL DELIVERY on payment, especially if this gold came from anywhere connected with the US.
What value is gold? Outside of industrial use the only value in gold is what someone is willing to pay or trade for it.
Anything over the intrinsic value of gold depends on psychology, people thinking having gold is a good thing. A change in thinking would cause the value of gold to drop down to its real value.
Russia would be better served improving her farms, infrastructure, developing raw material and improving her work force. Having gold does not improve the life of her citizens nor increase the wealth of the nation.
At least that is my two cents worth.
This can’t be. Harry Dent says gold is going to $300. Uh huh.
I’ll pay ya $150/oz. Plus, free delivery, of course.
From what I’ve read, they are buying physical gold.
I don’t own gold so I can not sell. But there are a lot of companies that are willing to sell you gold (but not at the price you are willing to pay). See, I understand the market as well as you. I just do not trust it as well as you do. But my point was not with individuals owning gold, but about nations building a gold stock pile when they face financial disaster becomes their infrastructure is crap.
European banks are neck deep in Russian energy investments. This could be a catastrophe indeed, but could easily affect us. Remember how the 1986-7 currency crisis tanked our markets.
When my Molecular Creator is ready and can produce gold, these stockpiles will be worth no more than pewter.
> Are you suggesting that our overlords, the moneychangers and the Ruling Class might not be completely honest about the financial health of all these countries? Are you trying to get put on a list??
It’ll take ‘em awhile to get to me. They’ve got plenty more bankers and whistleblowers to knock off first; last I heard they were up to 39 of them, many of them in high level positions or access to sensitive information on the makets; all just a coincidence I’m sure ...: )
Only fitting for such a “barbarous relic”!!!
There is no intrinsic value to anything.
All value is psychological. Gold is valuable because people value it -- nothing more, nothing less.
It does have some industrial use, which means it has some value.
History has proven them right on more than one occasion.
True, when it comes to individuals.
I am referring to a nation. The question is why does a nation need to stockpile gold?
Maybe I am looking at this wrong. Is it possible they are buying gold with US dollars (they got from their sale of oil) with the thought that the US dollar is going to take a big hit?
Maybe I should buy some gold myself ;)
My two cents, its not the price of gold per se, its the strength or weakness of the US $ vs other currencies and gold, ergo when the dollar is no longer the worlds reserve currency the disconnect could become more severe than expected, so i have to wonder if this is what Russia is planning for and if that should prove correct, might they even then attempt to influence bringing it about,
I read these kinds of articles for the possible prophetic implications, and specifically this article just for two reasons:
1) is Russia/Syria and a future Putin or whoever follows, the ‘King of the North’ and if so, what is their role and motivations at the time of the end.
2) and when the current economic system fails, I suspect we will all be shepherded along into using computers to buy and sell. Clearly some form of data processing controls are in use globally and affecting the ability for everyone to buy and sell. Its not hard to imagine since the invention of computers and now especially with the creation of the internet, of establishing some form of global electronic currency system. But what could bring such a radical change about quickly? a limited war? a limited nuclear event, say in a major financial city? triggering a global economic collapse etc., or if it should come about slowly (which doesn’t appear to me to be how it will happen as outlined in Revelation) it would come alongside a natural erosion of nation/state sovereignty and with the attempt to bring about a more universal stable system, (where ‘stable’ just means increased wealth and powers and taxation for those in authority)
Regardless of when or how it happens, we’re told that in the last days gold will be tossed into the streets, but also it maybe shows us that gold is in use as a means of preserving wealth right up until that time?
“Neither their silver nor their gold shall be able to deliver them in the day of the LORD’S wrath; but the whole land shall be devoured by the fire of his jealousy: for he shall make even a speedy riddance of all them that dwell in the land.” Zephaniah 1:18
“They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.” Ezekiel 7:19
“Riches profit not in the day of wrath: but righteousness delivereth from death.” Proverbs 11:4
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.