via Kevin Hester 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! To understand this, it is enough to look at the dynamics of growth of gold reserves of Russia and to compare this data with foreign exchange earnings of the Russia coming from the sale of oil and gas over the same period. Moreover, in the third quarter the purchases by Russia of physical gold are at all-time high record levels. In the third quarter of this year, Russia had purchased an incredible amount of gold in the amount of 55 tons. It’s more than all the central banks of all countries of the world combined (according to official data)! In total, the central banks of all countries of the world have purchased 93 tons of the precious metal in the third quarter of 2014. It was the 15th consecutive quarter of net purchases of gold by Central banks. Of the 93 tonnes of gold purchases by central banks around the world during this period, the staggering volume of purchases – of 55 tons – belongs to Russia.
Posted on: Fri, 26 Dec 2014 19:35:20 +0000
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