Russia Has Begun Selling Its Gold, … According To Societe Generale

I do not believe anything a Rothschild puppet bankster tells me, and that includes Societe Generale, especially if they are telling us vague, unsubstantiated BS like …

It appears possible that the Central Bank of Russia has started to sell off some of its gold reserves in December, with some sources reporting that official gold reserves dropped by $4.3 billion in the first week of the month.”

“It appears possible …” Yeah, right!

Why not sell those soon to be worthless U.S. Trashury (sic) holdings instead …

China, Russia Dump US Treasurys In October As Foreigners Sell Most US Stocks Since 2007 (ZeroHedge, Dec 15, 2014):

As for Russia, after selling $9.7 billion in October (a process which certainly continued in November) its latest total is just $108 billion, or just modestly higher than the $100 billion hit in March after the Ukraine conflict first broke out, and the second lowest total Russian Treasury holdings since 2008.

… and BUY gold and ask China to do the same.

Selling Russia’s gold? Putin might as well shoot himself in the foot (unless he too is an elite puppet).

Related info:

Is Ruble Collapse Act of War-Paul Craig Roberts

Grandmaster Putin’s Golden Trap:

Putin chess

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.

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The above article was translated buy Kristina Rus – which originally appeared in Russian  at http://investcafe.ru/blogs/mbcy/posts/46245#


Putin-Gold

Russia Has Begun Selling Its Gold, According To SocGen (ZeroHedge, Dec 18, 2014):

A few days ago, we first reported a rumor that was floating around Wall Street desks, and which, according to some, was the “reason” that gold was being kept lower even as sovereign risk was exploding around the globe. The rumor was that Russia was selling its gold holdings:

This led to Bloomberg speculating, and us rhetorically asking, if “Putin’s next step will be to sell gold

“Russia is at a critical juncture and given the sanctions placed upon them and the rapid decline in oil prices, they may be forced to dip into their gold reserves, if it happens it will push gold lower.” That is what, according to some people Bloomberg has quoted, is in the cards.

While some suggest the accumulation was “tradition” it is still nonetheless an impressive aggregation of the barbarous relic:

Russian Gold Reserve

So given the efforts to build this gold-backing for their nation’s currency, do we really expect Putin to now dump his physical: or perhaps more strategically suggest a true gold-backed currency and jawbone the currency that way?

So what is the truth? Well, we won’t for sure until the next official report by the Central Bank of Russia hits the IMF database,  but in the menatime, SocGen just reported that the selling may have started:

gold vs oil_0

Looking at the correlation between gold and oil prices, the chart above illustrates that both commodities were moving closely in tandem over the July to September period. However, this link was broken in early October when gold embarked upon the new rally on weaker US dollar and some physical support, while oil prices continued to slide. The rally, nonetheless, proved to be short lived, as gold returned to its downtrend after hitting the $1,250 level on 21 October, and continued to move down, along with oil, for the remainder of the month.

Starting from November we have seen gold and oil prices moving in opposite directions again. As we mentioned earlier, oil prices came under significant pressure on concerns about a growing global oil supply glut. On the contrary, gold recovered some of its earlier losses, supported by fresh buying interest in India on the news that the Reserve Bank of India (RBI) was reviewing gold import restrictions that were introduced last year. Towards the end of November, the RBI surprised the markets by announcing the withdrawal of the 80:20 rule, which saw gold imports surging to 150 tonnes that month, according to the latest statistics from the Indian Ministry of Commerce and Industry. In addition, worries over the potential impact of stronger US dollar on the global economy spurred some safe-haven buying. 

It is not surprising that Russia has been tackling its financial problems by selling the gold they have been accumulating. According to the IMF data this year, one of the world’s largest oil exporters acquired 115 tonnes in the January to September period, and added another 18.9 tonnes to their reserves in October. Russia has been purchasing the yellow metal at a faster pace this year, taking advantage of lower gold prices and, perhaps, preparing for the possibility of a long-lasting restrained relationship with the West and economic downturn. It appears possible that the Central Bank of Russia has started to sell off some of its gold reserves in December, with some sources reporting that official gold reserves dropped by $4.3 billion in the first week of the month.

Of course, 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.

In any event, keep a close eye on the next update of Russian official gold holdings: it may well be the next big story of where gold is headed and, if true, an even more important question will be who is Russia selling its gold to.

carlsen-putin-anand

Putin-Obama-chess-checkers

 

1 thought on “Russia Has Begun Selling Its Gold, … According To Societe Generale

  1. Bloomberg reports Russia MIGHT be selling their gold…………….and it is reported as news everywhere, conversely, Russia is selling oil, gas and rare earth minerals for physical gold only…………………Bloomberg used to be a good source of news, but now, it pushes US propaganda just like the other channels. Bloomberg speculation isn’t the news, it is the desire of greedy guts, like their owner.

    I would believe the second statement, not the first. Bloomberg has become a complete tool of greedy guts, and their people lie like rugs. The other day, when I checked the market, they were saying how tightly regulated the banks and markets are these days……………if that isn’t a lie, I don’t know what is…….

    Since when is Might Be news? Only in US la la land of the liars and dreamers.
    I still would not be surprised if Putin moves gold behind the ruble, he is a chess player, not an auctioneer. The last time Russia dumped gold, they went broke, I remember clearly because I was playing in commodities at the time.

    I asked my friends why Russia would be dumping gold, and they could not believe it……a few weeks later, it collapsed; the USSR was no more. Putin is far too intelligent to go down that path. He will continue to amass gold, regardless of what banks want or do.

    Selling gas, oil and rare earth minerals for physical gold sounds closer to the truth.

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