The editor of Marketupdate, a Dutch website about gold, silver, currencies and the financial crisis has sent us 2 MUST SEE charts documenting Russia official accumulation of gold reserves from 1996-2012.
It should not come as a surprise to SD readers that Russia’s official gold reserves are up nearly 5 fold in the past 6 years, from approximately 200 metric tons in 2006, to nearly 1,000 by the beginning of 2012.
Russia’s accumulation also puts into crystal clear perspective the shocking totals the Chinese are accumulating, at nearly 1200 metric tons/YEAR!
Chart(s) of the day below:
Silver Bullet Silver Shield Slave Queen Collection at SDBullion.com!!
From MarketUpdate:
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_gold.gif)
Hmmm…china & Russia building up huge inventories of Gold, while rumored to be working together to use gold-backed currency.
Let’s connect the dotted lines here and see where all this is going. Doesn’t look very well for the future of the $USD as the world’s reserve currence, does it?
@Mammoth – Exactly. This is just another piece to the puzzle and once combined with the claim by the WGC and Stephen Leeb that China is preparing to back the Yuan with gold, it makes the trade agreements between our allies and china to trade directly outside of the dollar make more sense.
@Mammoth
“We have to use any ruse, dodge, trick, cunning unlawful method, concealment and veiling of the truth. The basic role is to … exploit the conflicting interests … of the capitalist States.” –V. Lenin
This stupid obsession with considering gold as the only acceptable commodity money (propaganda foisted on the world to expand the British Empire) is being sprung back on the Western economies to exact the same means of oppression it had carried out on the East!
The meme became so completely enveloping, that the West ITSELF became subjugated to the falsity! Blatant and fundamentally destructive though it’s ALWAYS BEEN.
To make gold the exclusive commodity ‘money of account’ and MOREOVER to ‘fix’ its trade worth at any point in the process, is quantitaively impossible and an oppression by definition. It’s like decreeing that only perfect work is ever subject to any recompence whatever! That’s an ideal, thoroughly impractical of achievment, that any fool can easily see.
Of course, the meme is to ‘justify’ issue of gold ‘credit scrip’, which is EXACTLY what we’re AGAIN being sub-consciously conditioned to mindlessly accept … gold-’backed’ PAPER.
The free commerce of humankind operated just ‘swimingly’ for some five thousand years on the three-legged stool of copper, silver and gold … IN CONJUNCTION. Their competitive interaction in markets shepherded each of their relative values within fairly tight ranges and that factor systemically enforced economic independence and empowerment across the whole social strata.
THAT is the ‘ideal’ we ought to re-acquire and champion among ourselves if we’re to leave a better future legacy to our progeny!
I have this romantic idea (although i own none) that China might reward holders of Panda coins, by appreciating their nominal value by a given factor, surpassing its metal value thus making it old style coin money, just really purchase-strong at that.
Anyone an idea how Panda coins might fit into China’s end game plan?
http://www.cftc.gov/PressRoom/PressReleases/pr6502-13
January 24, 2013
Commissioner Jill Sommers Announces her Resignation
Washington, DC – Today, Commissioner Jill Sommers made the following statement:
“As I prepare to leave the Commodity Futures Trading Commission I would like to acknowledge the hard work and dedication of my fellow Commissioners and the many talented staff with whom I have had the pleasure of working for the past five years. While many challenges remain in finalizing the implementation of the Dodd-Frank Act, I have every confidence that the American public will be well-served by their continuing efforts.”
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I heard somewhere that the Chinese people aren’t even allowed to buy pandas over there… Any truth to this?
No, China since 2008 has been encouraging its citizens to invest in Silver and Gold, so it would not make sense for them to ban the sale of Panda coins to their own citizens. It wasn’t until 2004 that private ownership of Gold and Silver was allowed again in China, so prior to that there was indeed a ban. Now the reverse is true, and the government showcases precious metals as a good form of investment. People there can go to their run-of-the-mill banks and invest in Gold and Silver. How many banks in the US offer that service? (One of the few banks in the US is EverBank.)
I just can’t believe all this stuff now, Why is he or they sending us charts that anyone can manipulate. Sorry but I’m getting tired of all the Hype with no proof and I’m not talking about a coin.
Sure I believe Russia and China have big stacks but do you think their going to tell the Western World what they have, give me a break. Hype! Hype! Hype!
As the west bleeds gold the east collects it. Not looking good for the future.