{"id":36980,"date":"2018-08-23T07:54:33","date_gmt":"2018-08-23T12:54:33","guid":{"rendered":"http:\/\/olduvai.ca\/?p=36980"},"modified":"2018-08-23T07:54:33","modified_gmt":"2018-08-23T12:54:33","slug":"russia-plans-to-beat-us-sanctions-by-stockpiling-gold","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=36980","title":{"rendered":"Russia Plans To Beat US Sanctions By Stockpiling Gold"},"content":{"rendered":"

Russia Plans To Beat US Sanctions By Stockpiling Gold<\/a><\/h3>\n
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The Russian government is not taking the United States\u2019 sanctions lightly.\u00a0 Instead, they plan to beat all sanctions imposed by Washington, including any future sanctions, by stockpiling gold.<\/p>\n

The Russian central bank\u2019s First Deputy Governor Dmitry Tulin said that Moscow sees the acquisition\u00a0of gold as a\u00a0\u201c<\/em>100-percent guarantee from legal and political risks.\u201d\u00a0 The increases in gold purchases by the Russian government come as the Trump administration plans to impose new sanctions on Moscow.<\/p>\n

Russian bullion holdings are now quickly approaching the Soviet peak of 2,800 tons, which were seen in 1941, according to a report\u00a0by RT<\/em><\/a>.\u00a0 The gold stockpile was valued at $77.4 billion at the end of last month, according to the Russian central bank\u2019s website.<\/a> At current prices, the reserves are worth around $83.6 billion. Over the last decade, the country\u2019s share of gold in reserves has soared tenfold. Russia has also continued reducing its holdings of US treasuries. It has lowered its holdings of US debt from $96.1 billion in March to just $14.9 billion in May.<\/p>\n

The central bank also clarifies that this plan to stockpile gold is indeed a part of the strategy of diversifying the country\u2019s reserves and moving away from the U.S. dollar.Pravda Report<\/em> writes that in the spring of 2018,<\/a> Russia cut its investments in the U.S. public debt, getting rid of most of its U.S. Treasury bonds, <\/strong>taking measures to protect the country against the U.S.\u2019s runaway and ballooning\u00a0debt crisis.<\/strong><\/a>\u00a0Bloomberg<\/em> believes that Russia used a part of the revenues from divesting to purchase the gold.
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According to the World Gold Council<\/em>,<\/a> Russia is not only the largest official buyer of gold but also the world\u2019s third-biggest producer. Russia\u2019s central bank has been purchasing a lot of gold from domestic miners through commercial banks.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Russia Plans To Beat US Sanctions By Stockpiling Gold The Russian government is not taking the United States\u2019 sanctions lightly.\u00a0 Instead, they plan to beat all sanctions imposed by Washington, including any future sanctions, by stockpiling gold. The Russian central bank\u2019s First Deputy Governor Dmitry Tulin said that Moscow sees the acquisition\u00a0of gold as a\u00a0\u201c100-percent […]<\/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":[124,1997,374,6489,694,6490,827,865,1988],"class_list":["post-36980","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-central-banks","tag-economic-sanctions","tag-gold","tag-mac-slavo","tag-russia","tag-shtfplan-com","tag-united-states","tag-washington","tag-world-gold-council"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36980","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=36980"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36980\/revisions"}],"predecessor-version":[{"id":36981,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36980\/revisions\/36981"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}