Russia's Most Potent Weapon: Rapidly "Hoarding Gold" As Global Currency War Is Upon Us
by Tyler Durden
Oct 28, 2016 6:30 PM
"He who holds the gold makes the rules?" notes SHTFPlan.com's Mac Slavo...
With all eyes on Russia’s unveiling their latest nuclear intercontinental ballistic missile (ICBM), which NATO has dubbed the “SATAN” missile, as tensions with the U.S. increase, Moscow’s most potent “weapon” may be something drastically different.
The rapidly evolving geopolitical “weapon” brandished by Russia is an ever increasing stockpile of gold, as well as Russia’s native currency, the ruble.
Take a look at the symbol below, as it could soon come to change the entire hierarchy of the international order – potentially ushering in a complete international paradigm shift – and much sooner than you might think.
The symbol is the new designation of the Russian ruble, Russia’s national currency.
Similar to how the U.S. uses the dollar sign ($), the U.K. uses the pound sign (£), and the European Union uses the euro symbol (€), Russia is about to begin exporting its symbol internationally.
After the failed “reset” in U.S./Russian relations by the Obama administration, and the continued deterioration of the countries relationship, Washington began targeting entire sectors of the Russian economy, as well as specific individuals, meant to impose an economic burden so severe that it would force Moscow into compliance.
Instead of decimating Russia, what it precipitated was a Russian response of gradually weaning themselves off of the hegemony of the U.S. petrodollar, and working with China to create an alternative to the SWIFT payment system that isn’t solely controlled by Western interests (see Asian Infrastructure Investment Bank, New Development Bank).
According to the Corbett Report:
While still suffering from the economic warfare being waged by the U.S., Russia has realized that as long they are subservient to the petrodollar, there remains a clear and present danger of the Russian economy being devastated by the whims of Washington.
The Bank of Russia, that nation’s central bank, is extremely clear about its mission, and monetary policy declaring on its website:
Below is a chart showing Russian gold reserves between 1994 and last year, 2015:
Since 2006, there has been a year-on-year increase that reveals a significant upward trend. The chart clearly reveals that Russia’s state policy of increasing state monetary assets, in the form of gold. Additionally, the Russian government has been converting state rubles into gold assets. From 2006 to 2015, Russia’s state holdings of gold tripled.
Within just the past year Russia has substantially increased its gold holdings
According to the Business Insider:
Rickards, in his 2011 book “Currency Wars,” theorized that Russia and China could combine their gold reserves to form a global gold-backed currency to compete against the U.S. dollar. Currently, Russian reserves stand at roughly 1,500 tonnes, with Chinese reserves totaling over 1,800 tonnes (according to China — it’s likely more), which would amount to a combined total of roughly 3,300 tonnes of gold.
The U.S. is about to lose overarching control of policymaking within the International Monetary Fund (IMF), thus the U.S. lockup on global gold is about to vanish, according to Business Insider.
Imagine for a moment the distinctly real possibility that Russian-Chinese alliance could exercise indirect (or even direct) control over the IMF’s gold reserve of over 2,800 tonnes. Russian, Chinese and IMF gold combined would equal roughly 6,100 tonnes, and would allow for direct competition with the U.S. gold reserves, estimated at 8,100 tonnes.
Russia and China have realized that the petrodollar is wielded by Washington as it’s weapon of choice when opposing a well-armed state, and clearly see the writing on the wall – thus working together to create a new global financial paradigm.
The reality is that the United States is $20 trillion dollars in debt, and eventually the time will come when the U.S. economy begins to implode — and all the fiat currency people are stuck holding will essentially be worth nothing more than the paper it’s printed on. Hard assets, such as gold and silver, should be bought and taken custody of while there is still an opportunity to do so, as a means of hedging against the potentially disastrous results of the U.S. using the petrodollar as a “weapon.”
Ultimately, the United States, Russia and China are all controlled by centralized power-hungry tyrants attempting to command powerful global bureaucracies like the IMF, the World Bank, SWIFT, New Development Bank and the Asian Infrastructure Investment Bank.
It’s not Russian nuclear weapons that people should fear, as the policy of mutually assured destruction essentially voids any benefit of a state launching a first-strike nuclear attack. The true threat to America is our economic house of cards, built upon the back of a neoliberal trade policy that puts the “rights” of corporations over that of people.
http://www.zerohedge.com/news/2016-10-28/russias-most-potent-weapon-rapidly-hoarding-gold-global-currency-war-upon-us
by Tyler Durden
Oct 28, 2016 6:30 PM
"He who holds the gold makes the rules?" notes SHTFPlan.com's Mac Slavo...
As The Free Thought Project's Jay Syrmopoulos warns, Russia is Hoarding Gold at an Alarming Rate — The Next World War Will Be Fought with CurrenciesFresh attempts at containing Russia and continuing the empire have been met with countermoves. Russia appears to be building strength in every way. Putin and his country have no intention of being under the American thumb, and are developing rapid resistance as the U.S. petrodollar loses its grip and China, Russia and the East shift into new currencies and shifting world order.
What lies ahead? It will be a strong hand for the countries that have the most significant backing in gold and hard assets; and China and Russia have positioned themselves very well. Prepare for a changing economic landscape, and one in which self-reliance might be all we have.
With all eyes on Russia’s unveiling their latest nuclear intercontinental ballistic missile (ICBM), which NATO has dubbed the “SATAN” missile, as tensions with the U.S. increase, Moscow’s most potent “weapon” may be something drastically different.
The rapidly evolving geopolitical “weapon” brandished by Russia is an ever increasing stockpile of gold, as well as Russia’s native currency, the ruble.
Take a look at the symbol below, as it could soon come to change the entire hierarchy of the international order – potentially ushering in a complete international paradigm shift – and much sooner than you might think.
The symbol is the new designation of the Russian ruble, Russia’s national currency.
Similar to how the U.S. uses the dollar sign ($), the U.K. uses the pound sign (£), and the European Union uses the euro symbol (€), Russia is about to begin exporting its symbol internationally.
After the failed “reset” in U.S./Russian relations by the Obama administration, and the continued deterioration of the countries relationship, Washington began targeting entire sectors of the Russian economy, as well as specific individuals, meant to impose an economic burden so severe that it would force Moscow into compliance.
Instead of decimating Russia, what it precipitated was a Russian response of gradually weaning themselves off of the hegemony of the U.S. petrodollar, and working with China to create an alternative to the SWIFT payment system that isn’t solely controlled by Western interests (see Asian Infrastructure Investment Bank, New Development Bank).
According to the Corbett Report:
Recently, financial guru Jim Rickards, author of the book “Currency Wars,” wrote that “Russia is poised for a major comeback in its economy. Russian bonds and stocks and the Russian currency, the ruble, will all benefit.” Rickards believes a “strong turnaround” is coming within Russia, and that this comeback will benefit the ruble.New reports indicate that China is ready to launch its SWIFT alternative, and for those who have their ear to the ground this is the most significant move yet in the unfolding process of de-dollarization that is seeing the BRICS-led “resistance bloc” breaking away from the financial stranglehold of the US-led “Washington Consensus.”
For those who don’t know, SWIFT stands for the Society for Worldwide Interbank Financial Telecommunication and is shorthand for the SWIFTNet Network that is used by over 10,500 financial institutions in 215 countries and territories to transmit financial transaction data around the world. SWIFT does not do any of the clearing or processing for these transactions itself, but instead sends the payment orders that are then settled by correspondent banks of the member institutions. Still, given the system’s near universality in the financial system, it means that virtually every international transaction between banking institutions goes through the SWIFT network.
This is why de-listing from the SWIFT network remains one of the primary financial weapons wielded by the US and its allies in their increasingly important financial warfare campaigns.
While still suffering from the economic warfare being waged by the U.S., Russia has realized that as long they are subservient to the petrodollar, there remains a clear and present danger of the Russian economy being devastated by the whims of Washington.
The Bank of Russia, that nation’s central bank, is extremely clear about its mission, and monetary policy declaring on its website:
In layman’s terms, that means that monetary policy, similar to nuclear weapons and the military, are “an integral part of the state policy” in Russia. While many analysts have noted the increased build-up in Russia’s military arsenal, seemingly few have highlighted the massive build-up of Russian gold reserves over the past decade.Monetary policy constitutes an integral part of the state policy and is aimed at enhancing well-being of Russian citizens. The Bank of Russia implements monetary policy in the framework of inflation-targeting regime, and sees price stability, albeit sustainably low inflation, as its priority. Given structural peculiarities of the Russian economy, the target is to reduce inflation to 4% by 2017 and maintain it within that range in the medium run.
Below is a chart showing Russian gold reserves between 1994 and last year, 2015:
Since 2006, there has been a year-on-year increase that reveals a significant upward trend. The chart clearly reveals that Russia’s state policy of increasing state monetary assets, in the form of gold. Additionally, the Russian government has been converting state rubles into gold assets. From 2006 to 2015, Russia’s state holdings of gold tripled.
Within just the past year Russia has substantially increased its gold holdings
According to the Business Insider:
Currently, Russian gold reserves rank seventh in the world. It’s clear that there is a concerted effort by Russian authorities to build up the country’s gold reserves as part of a national strategy to negate the effects of economic warfare waged by the United States.In July of this year, the central bank of Russia added 200,000 ounces of gold to its reserves. The one-month uptick in Russian gold reserves — 200,000 ounces — is approximately equal to the entire annual output of Barrick Gold’s Turquoise Ridge gold mine in Nevada.
At that same rate — 200,000 ounces per month — in a mere five months, Russia would add to state gold reserves the equivalent of the entire annual output of Barrick’s massive Goldstrike mine in Nevada.
Rickards, in his 2011 book “Currency Wars,” theorized that Russia and China could combine their gold reserves to form a global gold-backed currency to compete against the U.S. dollar. Currently, Russian reserves stand at roughly 1,500 tonnes, with Chinese reserves totaling over 1,800 tonnes (according to China — it’s likely more), which would amount to a combined total of roughly 3,300 tonnes of gold.
The U.S. is about to lose overarching control of policymaking within the International Monetary Fund (IMF), thus the U.S. lockup on global gold is about to vanish, according to Business Insider.
Imagine for a moment the distinctly real possibility that Russian-Chinese alliance could exercise indirect (or even direct) control over the IMF’s gold reserve of over 2,800 tonnes. Russian, Chinese and IMF gold combined would equal roughly 6,100 tonnes, and would allow for direct competition with the U.S. gold reserves, estimated at 8,100 tonnes.
Russia and China have realized that the petrodollar is wielded by Washington as it’s weapon of choice when opposing a well-armed state, and clearly see the writing on the wall – thus working together to create a new global financial paradigm.
The reality is that the United States is $20 trillion dollars in debt, and eventually the time will come when the U.S. economy begins to implode — and all the fiat currency people are stuck holding will essentially be worth nothing more than the paper it’s printed on. Hard assets, such as gold and silver, should be bought and taken custody of while there is still an opportunity to do so, as a means of hedging against the potentially disastrous results of the U.S. using the petrodollar as a “weapon.”
Ultimately, the United States, Russia and China are all controlled by centralized power-hungry tyrants attempting to command powerful global bureaucracies like the IMF, the World Bank, SWIFT, New Development Bank and the Asian Infrastructure Investment Bank.
It’s not Russian nuclear weapons that people should fear, as the policy of mutually assured destruction essentially voids any benefit of a state launching a first-strike nuclear attack. The true threat to America is our economic house of cards, built upon the back of a neoliberal trade policy that puts the “rights” of corporations over that of people.
http://www.zerohedge.com/news/2016-10-28/russias-most-potent-weapon-rapidly-hoarding-gold-global-currency-war-upon-us
Yesterday at 5:10 pm by Rocky
» utube MM&C 5/7/24 Iraq Dinar- IQD Update - Regional Trade - A Progession of Reforms - A Global Bac
Yesterday at 5:09 pm by Rocky
» After a break of more than 9 years.. the resumption of a government trade meeting between Iraq and A
Yesterday at 8:06 am by Rocky
» A deputy in finance expects the Council of Ministers to approve the budget schedules in today’s sess
Yesterday at 8:02 am by Rocky
» A deputy resolves the controversy over the “transfer supplement” in two ministries
Yesterday at 8:01 am by Rocky
» Al-Halbousi’s “vacant” seat.. Will the coordination framework end the “Taqaddum” dream of an allianc
Yesterday at 7:59 am by Rocky
» The Federal Government issues a state order to stop the Commission’s work procedures regarding the K
Yesterday at 7:57 am by Rocky
» Including the freedom to choose the bank and withdraw the salary for “free”... “My Account” features
Yesterday at 7:55 am by Rocky
» The Central Bank sells more than $250 million during its daily auction
Yesterday at 7:51 am by Rocky
» Al-Sudani receives a delegation from the Union of Arab Banks
Yesterday at 7:44 am by Rocky
» Iraq and the United States of America hold trade meetings in Washington
Yesterday at 7:43 am by Rocky
» In pictures... The activities of the Union of Arab Banks conference in Baghdad, “Day Two”
Yesterday at 7:42 am by Rocky
» The Director General of Ports announces the completion of berths (3) and (4) in Al-Faw Grand Port
Yesterday at 7:40 am by Rocky
» The Council of Ministers holds its regular session headed by Al-Sudani
Yesterday at 7:38 am by Rocky
» Parliament publishes the agenda of its session for next Thursday
Yesterday at 7:37 am by Rocky
» A government measure to reduce "money laundering" using the buying and selling of real estate in Ira
Yesterday at 7:35 am by Rocky
» Iraq proposes establishing a specialized council to combat corruption in Arab countries
Yesterday at 7:32 am by Rocky
» Al-Mawarid intends to establish infrastructure and investment projects for the water sector in Iraq
Yesterday at 7:30 am by Rocky
» The Federal Court issues a decision regarding postponing the election of the Speaker of the House of
Yesterday at 7:28 am by Rocky
» A government meeting to discuss financing and implementation mechanisms for the Development Road Pro
Yesterday at 5:12 am by Rocky
» Al-Sudani: Iraqi banks are on the right track with financial transfers
Yesterday at 5:11 am by Rocky
» Al-Khazali: The Turkish side is still imposing its conditions on Iraq
Yesterday at 5:08 am by Rocky
» Rights: We refuse to amend the bylaws of Parliament under political influence and desires
Yesterday at 5:07 am by Rocky
» Nechirvan Barzani: We want to address all problems with Iran and begin a new phase of relations
Yesterday at 5:05 am by Rocky
» Today, Iraq and Iran signed the minutes of a joint meeting related to trade
Yesterday at 5:03 am by Rocky
» KPMG International begins auditing the revenues of telephone companies operating in Iraq
Yesterday at 5:02 am by Rocky
» Oil: The seventh batch of equipment for the gas manufacturing project in the Nasiriyah and Gharraf f
Yesterday at 5:01 am by Rocky
» Al-Sudani assures the French ambassador of Iraq’s openness to “fruitful” partnerships
Yesterday at 5:00 am by Rocky
» Government move to install gold screening devices at 4 airports
Yesterday at 4:59 am by Rocky
» Sudanese Advisor: The oil sector is witnessing a rapid renaissance
Yesterday at 4:58 am by Rocky
» Opening offices specialized in employing people with disabilities
Yesterday at 4:57 am by Rocky
» Infrastructure and investment projects for the water sector in Iraq
Yesterday at 4:56 am by Rocky
» Adopting the electronic system in the next census
Yesterday at 4:55 am by Rocky
» Al-Sudani chairs the first meeting to restructure the government apparatus
Yesterday at 4:54 am by Rocky
» Business Council: Efforts to open a branch of the Chinese Bank in Iraq
Yesterday at 4:53 am by Rocky
» Iraqi diplomacy is balanced openness
Yesterday at 4:52 am by Rocky
» The head of the Integrity Commission told Al-Sabah: We are the people’s eyes on the government and s
Yesterday at 4:51 am by Rocky
» Baghdad Provincial Council: The capital is facing a new urban and service phase
Yesterday at 4:49 am by Rocky
» Customs, security and economic aspects
Yesterday at 4:48 am by Rocky
» Central Governor: We face “increasing challenges” in complying with international laws
Yesterday at 4:48 am by Rocky
» Payment of end-of-service benefits to employees referred to retirement for the month of May
Yesterday at 4:46 am by Rocky
» Billions “evaporated”.. What is the truth about closing the “theft of the century” file in Diyala?
Yesterday at 4:45 am by Rocky
» The Minister of Labor approves the extinguishment of debts owed by transgressors from the families o
Yesterday at 4:43 am by Rocky
» How did Washington comment on Nechirvan Barzani's visit to Tehran?
Yesterday at 4:42 am by Rocky
» The honeymoon is over and the salary crisis continues. Baghdad and Erbil exchange accusations, but s
Yesterday at 4:41 am by Rocky
» Why has Iraq not submitted a file to stop burning gas over the past years?
Yesterday at 4:39 am by Rocky
» A slight increase in the exchange rate...more than 146 thousand per 100 dollars
Yesterday at 4:38 am by Rocky
» Do Iraq's debts pose a threat to the economy? Parliament answers
Yesterday at 4:37 am by Rocky
» Agriculture explains the mechanism of implementing the calendar program and its economic gains
Yesterday at 4:36 am by Rocky
» President Masoud Barzani meets an Iraqi parliamentary delegation
Yesterday at 4:34 am by Rocky
» Parliamentary criticism of the government’s delay in sending the budget schedules despite the approa
Yesterday at 4:33 am by Rocky
» A report reveals the existence of an undeclared “Iraqi-British” agreement regarding asylum seekers
Yesterday at 4:32 am by Rocky
» Alternative energy... advanced stages of the largest solar energy station in Iraq
Yesterday at 4:31 am by Rocky
» Its delay raised concerns... it is likely that the 2024 budget schedules will be approved today
Yesterday at 4:30 am by Rocky
» The industry reveals the reasons why Russian companies stopped reconstructing 7 factories in Anbar
Yesterday at 4:29 am by Rocky
» Billions evaporated.. What is the truth about closing the theft of the century file in Diyala?
Yesterday at 4:28 am by Rocky
» Nouri Al-Maliki to the Saudi Ambassador: Iraq is open to all countries of the world
Yesterday at 4:26 am by Rocky
» An Iraqi generation that “does not fear” America and Iran.. Nadim Al-Jabri explains his expectations
Yesterday at 4:25 am by Rocky
» After 9 years.. the third session of the Trade and Investment Framework Agreement between Iraq and A
Yesterday at 4:22 am by Rocky
» “These are our goals.” The Turkish President talks about his visit to Iraq last month
Yesterday at 4:21 am by Rocky
» Romanowski: The Iraqi judiciary is independent and the Federal Court seeks to consolidate democracy
Yesterday at 4:19 am by Rocky
» Deputy: The presidency of Parliament will remain vacant until the end of the current session
Yesterday at 4:17 am by Rocky
» Political: The Iraqi economy is threatened by American hegemony because of the coordination administ
Yesterday at 4:16 am by Rocky
» Politician: Salem Al-Issawi will not become Speaker of Parliament
Yesterday at 4:15 am by Rocky
» Planning reveals the mechanism for examining gold in local markets
Yesterday at 4:14 am by Rocky
» Including railway connectivity and water shares... Iraq and Iran are discussing a number of common i
Yesterday at 4:12 am by Rocky
» Oil is preparing to export gas oil after achieving self-sufficiency
Yesterday at 4:11 am by Rocky
» Trade is preparing to hold a number of specialized exhibitions in Baghdad and the provinces
Yesterday at 4:09 am by Rocky
» Erdogan: Our goal is to raise the volume of trade with Iraq to more than 20 billion dollars
Yesterday at 4:08 am by Rocky
» Al-Sudani confirms Iraq's openness to fruitful partnerships with French companies
Yesterday at 4:07 am by Rocky
» Determining the launch date for the activities of the 48th session of the Baghdad International Fair
Yesterday at 4:06 am by Rocky
» Al-Sudani receives a delegation from the Union of Arab Banks
Yesterday at 4:05 am by Rocky
» utube 5/3/24 MM&C Iraq Dinar Update - Expectation - Implementation - Activation - New Exchange Rat
Mon 06 May 2024, 7:30 am by Rocky
» “Services” asks the Central Bank about billions of foreign banks in Iraq
Mon 06 May 2024, 7:27 am by Rocky
» Central Bank: Iraqi banks still face challenges in complying with international laws and standards
Mon 06 May 2024, 7:24 am by Rocky
» Parliamentary bloc: The Central Bank offers hard currency to “mafias” on a golden platter.. The Suda
Mon 06 May 2024, 7:20 am by Rocky
» The Iraqi Central Auction witnesses a rise in foreign remittances to $267 million
Mon 06 May 2024, 7:19 am by Rocky
» Wednesday.. The session to elect the President of the Iraqi Parliament is heading towards “Al-Issawi
Mon 06 May 2024, 7:14 am by Rocky
» The Union of Arab Banks proposes 4 “important” points for Iraqi banks to meet compliance standards
Mon 06 May 2024, 7:12 am by Rocky
» In the document... the Central Bank decides to return the “Al-Mal” Bank to work... in this case
Mon 06 May 2024, 7:08 am by Rocky
» The Iraqi-American agreements and cooperation were the most prominent topics of Al-Araji and Romanow
Mon 06 May 2024, 7:06 am by Rocky
» Al-Hakim meets a joint delegation of resolve and sovereignty and renews the call to hold a session t
Mon 06 May 2024, 7:05 am by Rocky
» Nearly one billion dinars were recovered and 3 million liters of fuel intended for smuggling in Iraq
Mon 06 May 2024, 7:03 am by Rocky
» Al-Sudani and the European Union ambassador discuss issues of economic partnerships, civil aviation,
Mon 06 May 2024, 6:59 am by Rocky
» More than 950 million dinars... petroleum products announced their recovery
Mon 06 May 2024, 6:57 am by Rocky
» Forming a committee to follow up on stopping the sale of the dollar to travelers
Mon 06 May 2024, 6:54 am by Rocky
» The Minister of Justice visits Al-Muthanna Governorate to discuss mechanisms for developing judicial
Mon 06 May 2024, 6:52 am by Rocky
» Agriculture: Farmers who were affected by the recent rains will be compensated
Mon 06 May 2024, 6:51 am by Rocky
» Al-Rasheed issues a warning regarding applying for advances and loans
Mon 06 May 2024, 6:49 am by Rocky
» Al-Rafidain announces the implementation of the comprehensive banking system in its main branch
Mon 06 May 2024, 5:24 am by Rocky
» Al-Rasheed warns of offices and pages claiming to promote the Salaf
Mon 06 May 2024, 5:22 am by Rocky
» Adviser to the Prime Minister: There are no conflicts in the route of the Baghdad Metro
Mon 06 May 2024, 5:19 am by Rocky
» Al-Sudani: We are keen to develop the work of the TBI Bank and address the problems it faces
Mon 06 May 2024, 5:18 am by Rocky
» Agriculture explains the mechanism of implementing the calendar program and its economic gains
Mon 06 May 2024, 5:17 am by Rocky
» “The shocks have changed.” The Governor of the Central Bank explains the impact of the openness of I
Mon 06 May 2024, 5:16 am by Rocky
» The President of the Association of Private Banks sends an “important” invitation to the Central Ban
Mon 06 May 2024, 5:15 am by Rocky
» Al-Alaq: The Iraqi banking sector has witnessed significant qualitative developments in response to
Mon 06 May 2024, 5:12 am by Rocky
» On behalf of Al-Sudani, the Minister of Planning sponsors the signing ceremony of a memorandum of un
Mon 06 May 2024, 5:11 am by Rocky
» The Iraqi Travel Companies Association participates in the Arab Travel Market Exhibition
Mon 06 May 2024, 5:10 am by Rocky