Skip to comments.Putin Buys 570 Metric Tons of Gold
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, hes not just talking. Hes betting on it.
Not only has Putin made Russia the worlds largest oil producer, hes 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 theres a cataclysm with the dollar, the euro, the pound or any other reserve currency, Evgeny Fedorov, a lawmaker for Putins 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 Putins 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 ...
Makes the Boys back at Porcupine Creek paupers
I wonder how much of the gold in Fort Knox has been counted the same way they count votes in Chicago?
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.
Sure ol Pooty Pootin has more than he can carry stashed safely “just in case”.
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?
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.
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.
As long as we’re printing money, why not print a few extra trillion and buy half the world’s gold?
I think the gold in Fort Knox is like the money in the Social Security “Lock Box”.
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 >
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:
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.
The more gold a country has, the more sovereignty it will have if theres a cataclysm with the dollar, the euro, the pound or any other reserve currency, Evgeny Fedorov, a lawmaker for Putins United Russia party
...Can You EAT it?
” And The Seas became Blood”
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.
-——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
By my calculations, that is 6.44 X 10^17 $ at $1600/oz.
That doesn’t sound right to me.
And there you have a vivid example of the economic education of our kids!
What did he use to buy it?
Indian River too.