RUSSIAN GOLD, CURRENCY RESERVES UP $3.1 BILLION IN A SINGLE WEEK

RIA Novosti - Business ^ | 22 Sep 2005 | Editor

[Robert Drobot]

MOSCOW, September 22 (RIA Novosti) - Russia's gold and currency reserves grew $3.1 billion in a week to reach $155 billion September 16 against $151.9 billion September 9, the Central Bank said Thursday.

[Robert Drobot]

Which is the better collateral:

or..........

In the 1970's a very courageous gentleman named Edward Durrell claimed that substantially all of the US Gold Reserve being stored at Ft. Knox was gone.

Only 1,000 tonnes or so of the 8,500 tonnes supposedly being stored there remained. The rest had been secretly taken from Ft. Knox and shipped to London in 1967 and early 1968 for sale by President Johnson in an ill-fated attempt to keep the price of Gold at $35 per ounce.

Just what is the present value of US gold and currency reserves measured against our real time total indebtedness......anyone???

[axes_of_weezles]

Hey Mr Gold Bug. If the Russians are dumping gold, isnt it a good time to buy

[saveliberty]

I don't know whether you remember when we were on the gold standard and what the Soviets would do to devalue our currency is to dump gold on the market. When we were in the Cold War, that vulnerability was pretty significant. Why create a single point of failure?

Yes our currency has many dependencies, but the benefit is that some of the bases can increase the dollar's value as others decrease it.

There's also an advantage in having inexpensive currency in that it makes goods and services more appealing to consumers.

Lastly, the biggest help to the US currency is if we would exhibit more fiscal constraint in our federal spending. More line item vetos please!

[saveliberty]

:-) Thank you! I was thinking the same thing.

[Robert Drobot]

We've hocked our federal land holdings. What tangible assets remain for us to continue fronting the creation of a the Clinton/Bush NEW WORLD ORDER?

[spyone]

They are buying gold...as apparently have been many central banks lately, reversing a multiyear trend. Hence the recent price increase.

[Robert Drobot]

How in hell do you see 'reserves' as 'dumping'???

Go back to your failed government school, or buy a dictionary.

[axes_of_weezles]

Dollars Backed by the force of the US Military. Personal ownership of firearms.

[60 Miles North]

Where do you get that they are DUMPING gold?

[Robert Drobot]

Personal ownership of firearms.

Get you head out from under the flag.....

I dare you to wave a clip that size in the face of any police officer. Ownership of firearms is a 'may I' proposition in the once late great America, now the land of wieners and wusses.

[AppyPappy]

Clinton/Bush NEW WORLD ORDER?

NO! NOT THE NEW WORLD ORDER!!!!!!

No one expects the Clinton/Bush New World Order. Their chief element is surprise.

[Just mythoughts]

FYI

[hubbubhubbub]

Who said the Russian's are dumping Gold?

[Robert Drobot]

Can't buy jack with IOU's!!!

[axes_of_weezles]

The Russians have the largest reserves and have been dumping gold for the last 10 years.

When gold gets to $800 like it was in '79/80 I will get mildly concerned.

My $$ goes into ammo and firearms. A much better investment.

[hubbubhubbub]

When we were last on the Gold Standard the U.S. (not the Soviet Union) was the one that was hemorrhaging gold to pay for Vietnam and Johnson's WOP.

[AppyPappy]

Can't buy jack with IOU's!!!

Except a house. And a car. And a home theatre unit at Circuit City at 180 days same as cash except that they hit you with a fee so it's really not like cash, is it? I bet you can even buy gold with an IOU.

[hubbubhubbub]

"The Russians have the largest reserves and have been dumping gold for the last 10 years. "


You sound so extremely knowledgeable. Any proof or are you just spouting (i.e. wasting bandwidth).

[axes_of_weezles]

You cant eat gold, either.

http://public.planetmirror.com/pub/cia-factbook/2004/fields/2188.html

 

Field Listing - Reserves of foreign exchange & gold

Home  Reference Maps  Appendixes  Rank Order List

Country	Reserves of foreign exchange & gold
Albania	$1.038 billion (2003)
Algeria	$33.42 billion (2003)
Angola	$638.4 million (2003)
Argentina	$14.16 billion (2003)
Armenia	$509.4 million (2003)
Australia	$33.26 billion (2003)
Austria	$12.73 billion (2003)
Azerbaijan	$820.9 million (2003)
Bahrain	$1.785 billion (2003)
Bangladesh	$2.624 billion (2003)
Belarus	$637 million (2003)
Belgium	$14.45 billion (2003)
Belize	$84.7 million (2003)
Benin	$636 million (2003)
Bolivia	$1.096 billion (2003)
Bosnia and Herzegovina	$1.796 billion (2003)
Botswana	$5.25 billion (2003)
Brazil	$49.3 billion (2003)
Bulgaria	$6.705 billion (2003)
Burkina Faso	$379 million (2003)
Burma	$562 million (2003)
Burundi	$67.4 million (2003)
Cambodia	$861.4 million (2003)
Cameroon	$634 million (2003)
Canada	$36.27 billion (2003)
Cape Verde	$88.02 million (2003)
Chad	$191.8 million (2003)
Chile	$15.84 billion (2003)
China	$412.7 billion (2003)
Colombia	$10.92 billion (2003)
Congo, Republic of the	$44.53 million (2003)
Costa Rica	$1.836 billion (2003)
Cote d'Ivoire	$2.005 billion (2003)
Croatia	$8.191 billion (2003)
Cuba	$582 million (2003)
Cyprus	$3.453 billion (2003)
Czech Republic	$26.8 billion (2003)
Denmark	$37.98 billion (2003)
Dominican Republic	$261 million (2003)
Ecuador	$1.161 billion (2003)
Egypt	$14.22 billion (2003)
El Salvador	$2.061 billion (2003)
Equatorial Guinea	$206 million (2003)
Eritrea	$28 million (2003)
Estonia	$1.377 billion (2003)
Ethiopia	$956 million (2003)
European Union	$NA
Finland	$11.17 billion (2003)
France	$70.76 billion (2003)
Gabon	$201.9 million (2003)
Gambia, The	$118 million (2003)
Georgia	$190.7 million (2003)
Germany	$96.84 billion (2003)
Ghana	$1.469 billion (2003)
Greece	$5.802 billion (2003)
Guatemala	$2.843 billion (2003)
Guinea	$191 million (2003)
Guyana	$257 million (2003)
Haiti	$73 million (2003)
Honduras	$1.439 billion (2003)
Hong Kong	$118.4 billion (2003)
Hungary	$12.78 billion (2003)
Iceland	$818.7 million (2003)
India	$102.3 billion (2003)
Indonesia	$36.25 billion (2003)
Iran	$25.13 billion (2003)
Ireland	$4.152 billion (2003)
Israel	$26.32 billion (2003)
Italy	$63.26 billion (2003)
Jamaica	$1.195 billion (2003)
Japan	$664.6 billion (2003)
Jordan	$5.364 billion (2003)
Kazakhstan	$4.962 billion (2003)
Kenya	$1.455 billion (2003)
Korea, South	$155.4 billion (2003)
Kuwait	$7.685 billion (2003)
Kyrgyzstan	$399.3 million (2003)
Laos	$201 million (2003)
Latvia	$1.535 billion (2003)
Lebanon	$16.35 billion (2003)
Lesotho	$460 million (2003)
Libya	$19.78 billion (2003)
Lithuania	$3.45 billion (2003)
Macedonia	$935.1 million (2003)
Madagascar	$423 million (2003)
Malawi	$132 million (2003)
Malaysia	$44.58 billion (2003)
Malta	$2.429 billion (2003)
Mauritius	$1.598 billion (2003)
Mexico	$59.02 billion (2003)
Moldova	$302.3 million (2003)
Morocco	$14.08 billion (2003)
Mozambique	$990 million (2003)
Namibia	$325.2 million (2003)
Netherlands	$21.44 billion (2003)
New Zealand	$5.083 billion (2003)
Nicaragua	$502 million (2003)
Nigeria	$7.128 billion (2003)
Oman	$3.594 billion (2003)
Pakistan	$11.67 billion (2003)
Panama	$1.011 billion (2003)
Papua New Guinea	$510.5 million (2003)
Paraguay	$982 million (2003)
Peru	$10.24 billion (2003)
Philippines	$16.87 billion (2003)
Poland	$33.96 billion (2003)
Portugal	$12.81 billion (2003)
Qatar	$2.952 billion (2003)
Romania	$10.37 billion (2003)
Russia	$76.94 billion (2003)
Rwanda	$215 million (2003)
Sao Tome and Principe	$18 million (2003)
Saudi Arabia	$22.86 billion (2003)
Senegal	$780 million (2003)
Serbia and Montenegro	$3.7 billion (2003)
Seychelles	$66 million (2003)
Singapore	$95.75 billion (2003)
Slovakia	$11.74 billion (2003)
Slovenia	$8.598 billion (2003)
South Africa	$7.972 billion (2003)
Spain	$26.81 billion (2003)
Sri Lanka	$2.273 billion (2003)
Sudan	$847.2 million (2003)
Swaziland	$277.5 million (2003)
Sweden	$19.99 billion (2003)
Switzerland	$69.58 billion (2003)
Syria	$3.329 billion (2003)
Taiwan	$207.1 billion (2003)
Tajikistan	$117.6 million (2003)
Tanzania	$2.064 billion (2003)
Thailand	$42.15 billion (2003)
Togo	$257 million (2003)
Trinidad and Tobago	$2.477 billion (2003)
Tunisia	$2.949 billion (2003)
Turkey	$35.55 billion (2003)
Turkmenistan	$2.696 billion (2003)
Uganda	$1.08 billion (2003)
Ukraine	$6.937 billion (2003)
United Arab Emirates	$15.79 billion (2003)
United Kingdom	$46.05 billion (2003)
United States	$85.94 billion (2003)
Uruguay	$2.087 billion (2003)
Uzbekistan	$1.286 billion (2003)
Venezuela	$20.67 billion (2003)
Vietnam	$6.357 billion (2003)
Yemen	$5.009 billion (2003)
Zambia	$247.7 million (2003)
Zimbabwe	$78 million (2003)

This page was last updated on 10 February, 2005

 

[axes_of_weezles]

See #19, Genius