Russia Busts “Gold-Selling” Rumors,
… Reports It Bought Another 600,000 Ounces Taking Gold Holdings To New Record High
It appears Putin is making a fool of the satanist cabal for attacking the Ruble. As a counter strategy, he gave false signals that Russia will be selling its gold reserve to arrest the coordinated and concerted effort by cabal banks to force a melt-down of its currency. Knowing the cabal will manipulate the price of gold and keep it depressed, Putin instead went to market to buy more of the precious metal on the cheap and increase Russia’s gold reserve to a new high!
What a stroke of genius! When will the West learn the Russians are Grandmasters at chess? Now, which currency would you rather have in your vault … US dollars or Rubles? Perhaps it’s a good idea to hoard Rubles and wait for a windfall ;)
* Will Putin’s Next Step Be To Sell Gold?
* Russia Has Begun Selling Its Gold, According To SocGen
* Free Fall of the Ruble: Who’s Behind it? A Ploy of Russia’s Economic Wizards? Whose Chess Game?
Source of report here.
Yesterday, when we reported the latest rumor of Russian gold selling, this time out of SocGen, we said that “it should be noted that SocGen and its “sources” have a conflict: in an indirect way, none other than SocGen is suddenly very interested in Russia stabilizing its economy because as we wrote before, “Russia Contagion Spreads To European Banks : French SocGen, Austrian Raiffeisen Plummet“ which also sent SocGen’s default risk higher in recent days. So if all it will take to stabilize the RUB sell off, reduce fears of Russian contagion, and halt the selloff of SocGen stocks is a “source” reporting what may or may not be the case, so be it.”
Moments ago, as if to sway further speculation that Russia is indeed converting hard money earned from real resources for fiat paper, the Russian monetary authority made it quite clear, that at least in November, Russia not only did not sell any gold, but in fact bought another 600K ounces in the month of November.
- RUSSIAN MONETARY GOLD HOLDINGS RISE VS 37.6M ON NOV. 1
- RUSSIAN MONETARY GOLD HOLDINGS 38.2M TROY OZ AS OF DEC. 1
So add another 600K to the chart below:
Which of course means that the very “Russia is selling” rumors that were so effectively used to keep the price of gold low into the recent risk-flaring episode, were capitalized on by the very same Russia which used these same low prices not to sell, but to buy. At the lowest prices possible.