Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality

Iraq Dinar/News is a popular topic among many topics this board offers.

See the footer of the board for our Facebook and My business pages.

Be sure and join our Dinar Only Newsletter Email list. It is located on the right. Your User Account Email when joining the board is for with in Neno's Place use of board information which you can control in your profile settings.


For "Advertising" with in my board to our Membership and Visitors see our "Sponsor Ad Info" in the Navbar. Neno's Place receives a low of 50,000 views a week to over 100,000 plus many times thru out the year.

I can be reached by phone or text 7am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.
Established in 2006 as a Community of Reality

Longest Dinar holding Community. Reach Admin by Private Message. Copyright © 2006-2017

Ad Space M-1

Board Rules

October 2016


Calendar Calendar

Ad Space M-2

Revv Worldwide

IQD/Oil/Commodities Charts


Ad Space M-3

Top posting users this week

Top posting users this month

Ad Space M-4

Russia Relies On Gold To Push Reserves Back Over $380 Billion



Posts : 16600
Thanked : 807
Join date : 2013-01-12

Russia Relies On Gold To Push Reserves Back Over $380 Billion

Post by Lobo on Mon 04 Apr 2016, 6:26 pm

Russia Relies On Gold To Push Reserves Back Over $380 Billion

Submitted by Tyler Durden on 04/04/2016 15:33 -0400

Whether you define gold as a barbarous relic, a pet rock, "tradition", or "doomed", Russia surely refers to it as a saving grace. As Russia’s foreign reserves dwindled to just under $350 billion in early 2015, many predicted Russia was going to burn through all of their reserves in the not too distant future as they dealt with a depreciating Ruble and plummeting oil revenues.
However, this dire prediction did not pan out mainly due to one thing: Russia’s strategic decision to load up on as much gold over the past few years as it possibly could.
As we have shown in the past, Russia has shown an insatiable desire for Gold, and as Bloomberg points out, has increased their holdings more than 12% since last July.

This has paid dividends (figuratively in Russia's case, literally for those who participate in India's gold monetization scheme) as Gold’s price has helped push Russia’s foreign reserves back over $380 billion for the first time since January 2015.
[url= 2.png][/url]
Perhaps most critically, what their gold purchases have afforded the Central Bank of Russia is the luxury of not having to purchase fx in the market. Purchasing foreign currencies to increase reserves would put further downward pressure on an already depressed Ruble. Russia is walking a fine line between stimulating their economy, and containing inflation (something further fx purchases would surely exacerbate), and they are content to not have to press that any further at the moment.

    Current date/time is Tue 25 Oct 2016, 9:18 pm