{"id":17138,"date":"2016-01-31T09:12:14","date_gmt":"2016-01-31T14:12:14","guid":{"rendered":"http:\/\/olduvai.ca\/?p=17138"},"modified":"2016-01-31T09:12:14","modified_gmt":"2016-01-31T14:12:14","slug":"glistening-gold-the-rumble-in-the-ruble-americas-tribute-scam-is-unraveling-fast","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=17138","title":{"rendered":"Glistening Gold & The Rumble In The Ruble – America’s “Tribute Scam” Is Unraveling Fast"},"content":{"rendered":"

Glistening Gold & The Rumble In The Ruble – America’s “Tribute Scam” Is Unraveling Fast<\/a><\/h3>\n
Before we discuss The Empire of Chaos ongoing attacks on “The Assassin Putin” and The Master of the Universe attempts to topple any challenge to Washington’s global hegemony, we thought the following chart may give some much needed context for where the pain really is –\u00a0the drop in the oil price in local currency terms has been the least of all major nations… for Russia<\/strong><\/em><\/div>\n
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While\u00a0a case can be made that for Moscow it would be a tremendous waste of hard-earned foreign exchange to try to counter a rig against their currency they simply cannot beat, as the entire fiat financial power of the US is against them<\/strong><\/em>.<\/p>\n

As<\/em>\u00a0Pepe Escobar via DoomsteadDiner.net notes,<\/em><\/a>\u00a0<\/em>\u00a0Russia\u2019s Central Bank by now should be all-out selling rubles for gold, and building Russia\u2019s gold reserves.<\/strong><\/p>\n

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Well, it is happening, somewhat.<\/strong><\/div>\n

Last week, Russia\u2019s Central Bank estimated gold reserves to have reached 1,415 metric tons in 2015 \u2013 over 17 percent more than 2014<\/strong>, valued at almost $48.6 billion. The share of monetary gold in Russia\u2019s foreign currency reserves rose from 11.96 percent to 13.18 percent.<\/p>\n

That\u2019s still not good enough. Why?<\/strong>\u00a0A harsh answer would be that the Russian Central Bank and the Ministry of Finance, as some analysts\u00a0argue<\/a>, are in effect run by saboteurs and vassals of the US financial elite, a.k.a. the Masters of the Universe.<\/p>\n

Still, the Russian Central Bank did not intervene to prop up the ruble. And they should not.\u00a0<\/strong>The best course of action would be to let the ruble go, ending almost all imports, thus forcing self-sufficiency. Or introduce capital controls, with only approved transactions involving foreign currencies. It did work for Malaysia, for instance, after the 1997 Asian financial crisis.<\/p>\n

Forget about a China crash<\/strong><\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Glistening Gold & The Rumble In The Ruble – America’s “Tribute Scam” Is Unraveling Fast Before we discuss The Empire of Chaos ongoing attacks on “The Assassin Putin” and The Master of the Universe attempts to topple any challenge to Washington’s global hegemony, we thought the following chart may give some much needed context for […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[29,2203,130,1865,441,501,12076,522,679,693,695,701,4318],"class_list":["post-17138","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-apple","tag-blackrock","tag-china","tag-gold-reserves","tag-iran","tag-market-crash","tag-masters-of-the-universe","tag-middle-east","tag-reserve-currency","tag-ruble","tag-russian-central-bank","tag-saudi-arabia","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17138"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17138\/revisions"}],"predecessor-version":[{"id":17139,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17138\/revisions\/17139"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}