Russia To Take It’s Gold Reserves Up To $500 Billion From $360 Billion – Dave Kranzler
TND Guest Contributor: Dave Kranzler |
I suggested yesterday that we are going to start seeing a lot more entities/investors convert their phony fiat currency into physical gold and silver. In a news report that is being predictably ignored by western financial media, Russia announced today it will take its gold reserves up to $500 billion.
At today’s artificially manipulated price, that translates into 11.9 million ounces or roughly 3,463 metric tonnes. Russia’s current amount of $360 billion represents a 20% backing of its currency, which is the highest ratio of gold to paper currency in the world. Please note: Until the U.S. submits to a completely independent audit open for the world to observe, we assume the amount of gold held by the United States is zero.
The head of Russia’s Central Bank is determined to increase the country’s gold reserves to its previous levels in 2012-2013, from $360.5 billion up to $500 billion.
Recent experiences forced us to reconsider some of our ideas about sufficient and comfortable levels of gold reserves,” the head of the Central Bank said, adding that the Russian economy needs the amount of gold reserves to be able to cover negative capital outflow for the next 2-3 years. – Elvira Nabiullina, head of Russia’s Central Bank
You can read the rest of this report here: Russian Central Bank Gold Holdings
# # # #
About Dave Kranzler:
I spent many years working in various analytic jobs and trading on Wall Street. For nine of those years, I traded junk bonds for Bankers Trust. I have an MBA from the University of Chicago, with a concentration in accounting and finance. My goal is to help people understand and analyze what is really going on in our financial system and economy. You can follow my work and contact me via my website Investment Research Dynamics. Occasionally, I publish on Seeking Alpha too. As a co-founder and principal of Golden Returns Capital, LLC Mr. Kranzler co-manages the Precious Metals Opportunity Fund, a metals and mining stock investment fund.
Follow All Of TheNewsDoctors.com’s Exclusive Articles:
http://thenewsdoctors.com/category/thenewsdoctors-exclusive/
OR
Subscribe To Receive All TND’s Exclusive Articles In Your RSS Feed:
http://thenewsdoctors.com/category/thenewsdoctors-exclusive/feed/
Source: http://thenewsdoctors.com/russia-to-take-its-gold-reserves-up-to-500-billion-from-360-billion-dave-kranzler/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,707,980,582 |
| Stories: | 8,449,162 |
Whistler Blowers, Insiders
