Putin Concerned About The Security Of Russia’s Gold Reserves

Putin says Russia and China need to secure their gold and currency reserves

Russia and China need to ensure their gold and currency reserves are secure, Russia’s President Vladimir Putin told foreign journalists at the St Petersburg International Economic Forum.

Read the short article here:   Putin/China/Gold

As a colleague points out Putin’s remarks:  “he is speaking on behalf of China and that does not happen accidentally.”

Also, please note the debut of my new Youtube Video Channel.  This is the pilot episode of “Golden Truth,” which will feature short videos that expose the truth behind the headlines and other topics.  I’m collaborating with John Titus, who is an attorney and who used to have a high level patent law practice before he burned out.  His new mission is video and film production.  He has one of the best research minds I’ve ever come across. The first episode is slightly longer than what will be typical, but needed some contextual explanation which took up time and it’s very unpolished on my end:

InvestmentResearchDynamics/Golden Truth Youtube Video Channel – Episode 1

8 thoughts on “Putin Concerned About The Security Of Russia’s Gold Reserves

  1. > “For us (Russia and China) it is important to deposit those (gold and currency reserves) in a rational and secure way,”

    He does not say “i” or “me” or “Russia”.
    He say “us”.

    As zeroedge pointed out :

    > Because apparently when it comes to speaking for “hard” monetary policy, Putin is now authorized to speak for both nations.

    http://www.zerohedge.com/news/2014-05-28/putin-says-russia-china-need-ensure-security-their-gold-reserves

  2. Dave,

    Sounds like they are scraping the bottom of the barrel to deliver trinkets as they have not many deliverable bars left. Of the countries who are signatories in the price fixing, how many have their gold in hand as opposed to “in safekeeping” at the Fed? and what percentage? It seems that those countries would know how much they have or don’t have, and if they are all playing the same game, they would assume that the Fed does / does not have about the same percentage… For example, if Spain has 20% at home, and of that 20% only 10% is actually there due to leasing/price fixing, they could expect that the Fed has only 10% of what it claims, and maybe only Venezuela will get their 100% as the music winds down…

    Interesting times we live in. QE is surreptitious and insidious, flowing to the banks and large corporations. They use it to borrow at low/zero interest (free money) and purchase stock to increase the stock price to boost their bonuses which are tied to stock performance. And corporate debt is now at all time highs by a wide margin. Thus “the stock market” keeps going up and the rich keep getting richer. Meanwhile costs for average persons keep rising while average wages do not… and the rich have money and can purchase assets from those struggling… the wealthy get wealthier and the average get poorer. The poor have not a chance.

    The energy costs will go up as well. Shale oil is a ponzi that is funded by this free money QE economy. Once the rug is jerked out from under it all, several things will happen and all at once as they are all interconnected and connected to free/cheap/unsustainable money.

    Energy will skyrocket in price. Food will skyrocket in price. Raw materials will skyrocket in price. These are all tied to cheap energy. The energy which delivers our way of life is tied to money printing; we have found and exploited most of the easy / cheap petroleum reserves. Now we must pay many multiples what we used to pay to extract a gallon of oil.

    Banks will fail all over. It may be difficult to get adequate cash. Govt will steal direct from your electronic accounts to “fund the economy” etc. Basically the economy will stop as we know it. Can you say Social Unrest? Ever wonder why the govt agencies are ordering guns, ammo, armored vehicles, etc? Protection for the racket as described by Smedley Butler…

    People in power have never in history relinquished voluntarily their positions and perks. I have no feeling that we have different “leaders” at this point in time. They will do what ever they can to keep and increase their grip (bail-ins (that is just a euphemism for theft), “patriot act” and other illegal fascist control measures, more draconian laws and compliance measures to “protect the consumer” etc which really are just monopoly growth measures as cost of compliance for small business is too high… and on and on. The biggest “too big to fail” banks are now almost 40% bigger than when they were “too big to fail”… wonder how much they will steal from us this time or is this time when it all falls over?

    And these economists… how did the economy ever work without economists? Seems that they should be studying and learning, not trying to “lead” or “fix” the economy with their theories. Could say lots more on that but…

    Beep Beep

    1. I think the U.S. is getting close to hitting a wall. Look at Treasury yields. They collapsed like this in mid-2008

  3. so what?

    so why doesn’t putin walk the talk, & as a minimum do what china did a decade ago–dictate that all domestic mine production go to the state??

    he has done nothing.

    1. I wouldn’t say Putin has done nothing…

      http://www.bloomberg.com/news/2013-02-10/putin-turns-black-gold-into-bullion-as-russia-out-buys-world.html

      Even if Putin and Russia are not buying Russia’s own gold supply, the gold in the ground can be used as leverage, as in persuading certain nations to do the heavy lifting (or in this case, mining) while Russia reaps the profits and buys the gold mined. If the foreign fiat in Russia’s hands are going to lose value in the long term, why not use it to buy something that holds its value in the long term? The Chinese buy gold with their US Dollars, why couldn’t Russia do likewise?

      The gold in the ground could be used as an incentive for Chinese miners to mine the gold with the understanding that said Chinese would provide other investments in Russia, such as banking, finance, electronics, etc.
      It is not always about who has gold in the vaults, but who leases the mining rights that should be considered. Oil companies are finding ways around the Russian sanctions, I would be surprised if miners were not able to do the same.

      Granted, this is all speculation on my part, but my argument does seem to make some kind of sense when considered carefully.

      Finally, I love the youtube postings, Dave! Don’t worry about the postings being a little rough around the edges, there are many youtube posters with useful and valuable information who make posts in a rough and tumble kind of way.
      It is the information that is key, even if the key itself is a bit tarnished and scratched, as long as it opens the lock and reveals the secrets who cares if the key doesn’t look brand new?

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  5. Excellent commentary as always Dave. Really enjoyed the Youtube presentation. You state that you came across unpolished. I don’t agree you look like you have been doing these presentations for a long time. Great job!

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