{"id":32591,"date":"2018-03-21T05:55:41","date_gmt":"2018-03-21T10:55:41","guid":{"rendered":"http:\/\/olduvai.ca\/?p=32591"},"modified":"2018-03-21T05:56:06","modified_gmt":"2018-03-21T10:56:06","slug":"russia-is-hoarding-gold-at-the-fastest-pace-in-12-years","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=32591","title":{"rendered":"Russia Is Hoarding Gold At The Fastest Pace In 12 Years"},"content":{"rendered":"<div id=\"block-zerohedge-page-title\" class=\"block block-core block-page-title-block\">\n<h3 class=\"page-title\"><a href=\"https:\/\/www.zerohedge.com\/news\/2018-03-20\/russia-hoarding-gold-fastest-pace-12-years\"><span class=\"field field--name-title field--type-string field--label-hidden\">Russia Is Hoarding Gold At The Fastest Pace In 12 Years<\/span><\/a><\/h3>\n<\/div>\n<div id=\"block-zerohedge-content\" class=\"block block-system block-system-main-block\">\n<article class=\"node node--type-article node--view-mode-full\" role=\"article\">\n<footer class=\"node__meta\"><\/footer>\n<div class=\"node__content\">\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>De-dollarization is accelerating&#8230;<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/de-dollarization.jpg?itok=yz-4AtFb\" \/><\/p>\n<p><u><em><strong>Russia is adding gold to its reserves at the fastest pace in 12 years &#8230;and dumping US Treasuries at the fastest pace since 2011.<\/strong><\/em><\/u><\/p>\n<p>The Central Bank of Russia (CBR) has <strong>been increasing its holdings of gold every month since March 2015.<\/strong> The country is currently the sixth-largest gold owner after the United States, Germany, Italy, France and China.<\/p>\n<p>According to the CBR, gold reserves spiked to $455.2 billion between March 2 and 9 hitting a <strong>historic high not seen since September 2014.<\/strong><\/p>\n<blockquote><p><em><strong>\u201cOur international reserves increased by $2.9 billion or 0.6 percent in a single week, mainly on the strength of positive re-evaluation,\u201d<\/strong><\/em> said the regulator.<\/p><\/blockquote>\n<p><img decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-03-20_17-47-01.jpg?itok=SlbQk49q\" \/><\/p>\n<p>And in fact 2018 has seen the fastest increase in the value of Russia&#8217;s gold reserves since 2006&#8230;<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-03-20_17-38-07.jpg?itok=sS6vez7y\" \/><\/p>\n<p><strong>In January, <a href=\"https:\/\/www.rt.com\/business\/421680-russia-gold-reserves-record\/\">RT notes\u00a0 <\/a>that Russia surpassed China, which reportedly held 1,843 tons of the precious metal at that time. <\/strong>Over the last 15 years, Moscow and Beijing have been aggressively accumulating gold reserves to reduce their dependence on the US dollar.<\/p>\n<p>According to World Gold Council data, <strong>last year the CBR became a world leader in stockpiling gold.<\/strong><\/p>\n<p>The bank has more than doubled the pace of its gold purchases, statistics showed.<u><em><strong> It has been increasing Russia\u2019s gold reserves to meet the goal set by President Vladimir Putin to make it less vulnerable to geopolitical risks.<\/strong><\/em><\/u> The Russian gold cache has increased by more than 500 percent since 2000.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Russia Is Hoarding Gold At The Fastest Pace In 12 Years De-dollarization is accelerating&#8230; Russia is adding gold to its reserves at the fastest pace in 12 years &#8230;and dumping US Treasuries at the fastest pace since 2011. The Central Bank of Russia (CBR) has been increasing its holdings of gold every month since March [&hellip;]<\/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":[1025,374,647,694,839,4318],"class_list":["post-32591","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-de-dollarization","tag-gold","tag-precious-metals","tag-russia","tag-us-dollar","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/32591","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=32591"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/32591\/revisions"}],"predecessor-version":[{"id":32592,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/32591\/revisions\/32592"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}