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Putin Buys 570 Metric Tons of Gold
macedoniaonline.eu ^ | Monday, 11 February 2013

Posted on 02/11/2013 3:13:43 PM PST by BenLurkin

When Vladimir Putin says the U.S. is endangering the global economy by abusing its dollar monopoly, he’s not just talking. He’s betting on it.

Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of the metal in the past decade, a quarter more than runner-up China, according to IMF data compiled by Bloomberg. The added gold is also almost triple the weight of the Statue of Liberty.

“The more gold a country has, the more sovereignty it will have if there’s a cataclysm with the dollar, the euro, the pound or any other reserve currency,” Evgeny Fedorov, a lawmaker for Putin’s United Russia party in the lower house of parliament, said in a telephone interview in Moscow.

Gold, coveted by Russian rulers including Tsar Nicholas II and the Bolshevik leader whose forces assassinated him, Vladimir Lenin, has soared almost 400 percent in the period of Putin’s purchases. Central banks around the world have printed money to escape the global financial crisis, sapping investor appetite for dollars and euros and setting off a scramble for safety.

(Excerpt) Read more at macedoniaonline.eu ...


TOPICS: Business/Economy; Front Page News
KEYWORDS: gold; inflation; obamanomics; obamnation

1 posted on 02/11/2013 3:13:45 PM PST by BenLurkin
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To: BenLurkin
Hey - that's nuttin.....we got way more gold than that over in Fort Knocks........wink, wink....
2 posted on 02/11/2013 3:20:52 PM PST by wesagain (The God #Elohim# of Abraham, Isaac and Jacob is the One True GOD.)
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To: BenLurkin

Makes the Boys back at Porcupine Creek paupers


3 posted on 02/11/2013 3:25:13 PM PST by al baby (Hi Mom)
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To: BenLurkin
I wonder how much they've got that we don't know about.
4 posted on 02/11/2013 3:30:58 PM PST by Track9 (hey Kalid.. kalid.. bang you're dead)
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To: wesagain

I wonder how much of the gold in Fort Knox has been counted the same way they count votes in Chicago?


5 posted on 02/11/2013 3:34:28 PM PST by MeganC (Liberals fool people by walking upright.)
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To: BenLurkin

I’ve never been a huge gold fan but ya gotta admit Putin makes sense on this. It is increasingly doubtful that USA will be able to survive another 4 years of the destructive fiscal, monetary, tax, and regulatory policies (as well as defense, international, and social policies) of these last 4 years.


6 posted on 02/11/2013 3:36:13 PM PST by faithhopecharity
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To: faithhopecharity
Just think how valuable currency actually tied to something other than the ability to print it in vast amounts would be!
Start buying rubles now? :)
7 posted on 02/11/2013 3:46:12 PM PST by 45semi (A police state is always preceded by a nanny state...)
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To: faithhopecharity

Sure ol Pooty Pootin has more than he can carry stashed safely “just in case”.


8 posted on 02/11/2013 3:52:36 PM PST by X-spurt (Republic of Texas, Come and Take It!)
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To: BenLurkin

9 posted on 02/11/2013 3:57:31 PM PST by JoeProBono (A closed mouth gathers no feet - Mater tua caligas exercitus gerit ;-{)
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To: 45semi

Rubles? Could be (but when govts fall their replacements may not honor former obligations, just ask any investor in russian imperial paper). As between rubles and gold, the gold may be better?


10 posted on 02/11/2013 4:18:21 PM PST by faithhopecharity
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To: BenLurkin

As Russia is a large gold producer and the countries other large export commodity, oil, will be subject to cost pressure in the coming years..I’d say this is an attempt to shore up the gold price.


11 posted on 02/11/2013 4:24:10 PM PST by montanajoe
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To: JoeProBono

When I see that picture, I only hope that Putin (who is a hero of mine) sinks a small drill bit into it to make sure it’s all gold.


12 posted on 02/11/2013 4:25:19 PM PST by BobL
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To: BenLurkin

As long as we’re printing money, why not print a few extra trillion and buy half the world’s gold?


13 posted on 02/11/2013 4:50:49 PM PST by Born to Conserve
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To: MeganC

I think the gold in Fort Knox is like the money in the Social Security “Lock Box”.


14 posted on 02/11/2013 4:51:20 PM PST by beethovenfan (If Islam is the solution, the "problem" must be freedom.)
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To: Born to Conserve

15 posted on 02/11/2013 5:36:36 PM PST by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both)
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To: BenLurkin; jiggyboy; PA Engineer; blam; TigerLikesRooster; Cheap_Hessian; CJinVA; Jet Jaguar; ...

Goldbug ping.


16 posted on 02/11/2013 5:50:03 PM PST by Jet Jaguar
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To: MeganC

Like the old Looney Tunes schtick:

One for you, one for me
Two for you, one, two for me
Three for you, one, two, three for me...

Why worry, it’s not like it’s actual money or anything as important to following the Constitution or something screwy like that < / s >


17 posted on 02/11/2013 5:51:39 PM PST by i_robot73
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To: BenLurkin

In 2002, on His 50th birthday, Vladimir Putin was given a very symbolic gift: an exact copy of the Holy Russian crown.
Russia has lots of imperial crowns, but this one is very special.

The original crown [which is in the Kremlin armory] may have been given to Ivan 1 by the Mongol Khan, Uzbeg.
See crown and info here:
http://www.arco-iris.com/George/shapka.htm

On His birthday in 2009, Vladimir Putin was also given a symbolic gift: a crown cloud hovered over the city of Moscow on Oct 7 [His birthday.]
Notice the similarity of the crown’s fur to the irregular borders of the crown cloud.
http://www.youtube.com/watch?v=h-XljlBRF6M


18 posted on 02/11/2013 6:54:13 PM PST by LastProphet
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To: BenLurkin

“The more gold a country has, the more sovereignty it will have if there’s a cataclysm with the dollar, the euro, the pound or any other reserve currency,” Evgeny Fedorov, a lawmaker for Putin’s United Russia party

...Can You EAT it?

” And The Seas became Blood”


19 posted on 02/11/2013 9:15:52 PM PST by LtKerst
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To: BenLurkin

James 5:3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.


20 posted on 02/11/2013 10:16:04 PM PST by Bellflower (The LORD is Holy, separated from all sin, perfect, righteous, high and lifted up.)
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To: BenLurkin
Putin...in Russia Putin rides bear:


21 posted on 02/12/2013 2:31:56 AM PST by Tainan (Cogito, ergo conservatus sum -- "The Taliban is inside the building")
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To: 45semi

-——Start buying rubles now? :) -——

Now that’s silly. Why buy rubles when you can buy gold?

The rubles can never be worth more than the gold


22 posted on 02/12/2013 4:23:25 AM PST by bert ((K.E. N.P. N.C. +12 .....The fairest Deduction to be reduced is the Standard Deduction)
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To: BenLurkin

By my calculations, that is 6.44 X 10^17 $ at $1600/oz.

That doesn’t sound right to me.


23 posted on 02/12/2013 9:35:20 AM PST by chooseascreennamepat (Have you thought about going vegan, Karl?)
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To: bert

And there you have a vivid example of the economic education of our kids!


24 posted on 02/12/2013 9:53:31 AM PST by chooseascreennamepat (Have you thought about going vegan, Karl?)
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To: BenLurkin

What did he use to buy it?


25 posted on 02/12/2013 7:42:34 PM PST by JPJones (I wish the buck(s) WOULD stop with me.)
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bookmark


26 posted on 02/13/2013 6:52:55 AM PST by RebelTex (Soli Deo Gloria, "To God alone the glory")
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To: al baby

Indian River too.


27 posted on 02/13/2013 7:43:20 AM PST by CPT Clay (Follow me on Twitter @Clay N TX)
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