The Russia-led Eurasian Economic Union and China just agreed to design the mechanism for an independent financial and monetary system that would bypass dollar transactions.
By Pepe Escobar with the author’s permission and cross-posted with The Cradle
It was a long time coming, but finally some key lineaments of the multipolar world’s new foundations are being revealed.
On Friday, after a videoconference meeting, the Eurasian Economic Union (EAEU) and China agreed to design the mechanism for an independent international monetary and financial system. The EAEU consists of Russia, Kazakhstan, Kyrgyzstan, Belarus and Armenia, is establishing free trade deals with other Eurasian nations, and is progressively interconnecting with the Chinese Belt and Road Initiative (BRI).
For all practical purposes, the idea comes from Sergei Glazyev, Russia’s foremost independent economist, a former adviser to President Vladimir Putin and the Minister for Integration and Macroeconomics of the Eurasia Economic Commission, the regulatory body of the EAEU.
Glazyev’s central role in devising the new Russian and Eurasian economic/financial strategy has been examined here. He saw the western financial squeeze on Moscow coming light-years before others.
Quite diplomatically, Glazyev attributed the fruition of the idea to “the common challenges and risks associated with the global economic slowdown and restrictive measures against the EAEU states and China.”
Translation: as China is as much a Eurasian power as Russia, they need to coordinate their strategies to bypass the US unipolar system.
The Eurasian system will be based on “a new international currency,” most probably with the yuan as reference, calculated as an index of the national currencies of the participating countries, as well as commodity prices. The first draft will be already discussed by the end of the month.
The Eurasian system is bound to become a serious alternative to the US dollar, as the EAEU may attract not only nations that have joined BRI (Kazakhstan, for instance, is a member of both) but also the leading players in the Shanghai Cooperation Organization (SCO) as well as ASEAN. West Asian actors – Iran, Iraq, Syria, Lebanon – will be inevitably interested.
In the medium to long term, the spread of the new system will translate into the weakening of the Bretton Woods system, which even serious US market players/strategists admit is rotten from the inside. The US dollar and imperial hegemony are facing stormy seas.
Show me that frozen gold
Meanwhile, Russia has a serious problem to tackle. This past weekend, Finance Minister Anton Siluanov confirmed that half of Russia’s gold and foreign reserves have been frozen by unilateral sanctions. It boggles the mind that Russian financial experts have placed a great deal of the nation’s wealth where it can be easily accessed – and even confiscated – by the “Empire of Lies” (copyright Putin).
At first it was not exactly clear what Siluanov had meant. How could the Central Bank’s Elvira Nabiulina and her team let half of foreign reserves and even gold be stored in Western banks and/or vaults? Or is this some sneaky diversionist tactic by Siluanov?
No one is better equipped to answer these questions than the inestimable Michael Hudson, author of the recent revised edition of Super Imperialism: The Economic Strategy of the American Empire.
Hudson was quite frank: “When I first heard the word ‘frozen,’ I thought that this meant that Russia was not going to expend its precious gold reserves on supporting the ruble, trying to fight against a Soros-style raid from the west. But now the word ‘frozen’ seems to have meant that Russia had sent it abroad, outside of its control.”
Essentially, it’s all still up in the air: “My first reading assumed that Russia must be doing something smart. If it was smart to move gold abroad, perhaps it was doing what other central banks do: ‘lend” it to speculators, for an interest payment or fee. Until Russia tells the world where its gold was put, and why, we can’t fathom it. Was it in the Bank of England – even after England confiscated Venezuela’s gold? Was it in the New York Fed – even after the Fed confiscated Afghanistan’s reserves?”
So far, there has been no extra clarification either from Siluanov or Nabiulina. Scenarios swirl about a string of deportations to northern Siberia for national treason. Hudson adds important elements to the puzzle:
“If [the reserves] are frozen, why is Russia paying interest on its foreign debt falling due? It can direct the “freezer’ to pay, to shift the blame for default. It can talk about Chase Manhattan’s freezing of Iran’s bank account from which Iran sought to pay interest on its dollar-denominated debt. It can insist that any payments by NATO countries be settled in advance by physical gold. Or it can land paratroopers on the Bank of England, and recover gold – sort of like Goldfinger at Fort Knox. What is important is for Russia to explain what happened and how it was attacked, as a warning to other countries.”
As a clincher, Hudson could not but wink at Glazyev: “Maybe Russia should appoint a non-pro-westerner at the Central Bank.”
The petrodollar game-changer
It’s tempting to read into Russian Foreign Minister Sergey Lavrov’s words at the diplomatic summit in Antalya last Thursday a veiled admission that Moscow may not have been totally prepared for the heavy financial artillery deployed by the Americans:
“We will solve the problem – and the solution will be to no longer depend on our western partners, be it governments or companies that are acting as tools of western political aggression against Russia instead of pursuing the interests of their businesses. We will make sure that we never again find ourselves in a similar situation and that neither some Uncle Sam nor anybody else can make decisions aimed at destroying our economy. We will find a way to eliminate this dependence. We should have done it long ago.”
So, “long ago” starts now. And one of its planks will be the Eurasian financial system. Meanwhile, “the market” (as in, the American speculative casino) has “judged” (according to its self-made oracles) that Russian gold reserves – the ones that stayed in Russia – cannot support the ruble.
That’s not the issue – on several levels. The self-made oracles, brainwashed for decades, believe that the Hegemon dictates what “the market” does. That’s mere propaganda. The crucial fact is that in the new, emerging paradigm, NATO nations amount to at best 15 percent of the world’s population. Russia won’t be forced to practice autarky because it does not need to: most of the world – as we’ve seen represented in the hefty non-sanctioning nation list – is ready to do business with Moscow.
Iran has shown how to do it. Persian Gulf traders confirmed to The Cradle that Iran is selling no less than 3 million barrels of oil a day even now, with no signed JCPOA (Joint Comprehensive Plan of Action agreement, currently under negotiation in Vienna). Oil is relabeled, smuggled, and transferred from tankers in the dead of night.
Another example: the Indian Oil Corporation (IOC), a huge refiner, just bought 3 million barrels of Russian Urals from trader Vitol for delivery in May. There are no sanctions on Russian oil – at least not yet.
Washington’s reductionist, Mackinderesque plan is to manipulate Ukraine as a disposable pawn to go scorched-earth on Russia, and then hit China. Essentially, divide-and-rule to smash not only one but two peer competitors in Eurasia who are advancing in lockstep as comprehensive strategic partners.
All the blather about “crashing Russian markets,” ending foreign investment, destroying the ruble, a “full trade embargo,” expelling Russia from “the community of nations,” and so forth –that’s for the zombified galleries. Iran has been dealing with the same thing for four decades, and survived.
Historical poetic justice, as Lavrov intimated, now happens to rule that Russia and Iran are about to sign a very important agreement, which may likely be an equivalent of the Iran-China strategic partnership. The three main nodes of Eurasia integration are perfecting their interaction on the go, and sooner rather than later, may be utilizing a new, independent monetary and financial system.
But there’s more poetic justice on the way, revolving around the ultimate game-changer. And it came much sooner than we all thought.
Saudi Arabia is considering accepting Chinese yuan – and not US dollars – for selling oil to China. Translation: Beijing told Riyadh this is the new groove. The end of the petrodollar is at hand – and that is the certified nail in the coffin of the indispensable Hegemon.
Meanwhile, there’s a mystery to be solved: where is that frozen Russian gold?
I think the “frozen” Russian gold is in Monaco.
The state of Monaco (south of France) has been “very silent” in the storm following the “liberation” of Ukraine, and it is not new to ‘controversial practices”. Monaco is famous for giving hospitality “to anyone” who is able to pay its fee “without asking any questions”.
I would guess somewhere in Europe as well. Maybe one reason why Russia is so disgusted with European leaders.
Russia keeps 100% of its physical gold in Russia.
The only other obligations are futures/”paper” markets, that’s where they are frozen to Trade.
They can choose not to fulfill those obligations at all.
In order to participate in the London Bullion Market Association, it is inevitable that Russia had some gold in London as well as New York. The purpose of this gold was for doing market operations to support the Ruble. Therefore, some of the gold had to be held at the market so that it could be sold when needed. The action of seizing sovereign nations gold will result in the death of London and New York as the two main hubs of the world’s gold and currency exchange.
Maybe this could help more experienced researchers find the ”frozen gold”…
Even this photograph of the only foreign leader sharing a campsite fire with Presidnt Putin in Tuva :
Monaco, in all but name, a part of France. Nothing goes on in Monaco without French approval.
However, I would like to point out here that when Russia wanted revenge on Safra, they raided his residence in Monaco and shot him. The authorities accused an innocent American nurse of starting a fire in the building. Safra was the head of a cabal of wealthy Jews who tried to take over Russia.
Martin Armstrong has written extensively about the attempted takeover of Russia – he was offered a seat at the table and refused to participate.
“Dominick Dunn – Death in Monaco”
I think this url could be true but I do not know:
And therefore its clear where the assets could be.
Thanks for the link
I think this url could be true but I do not know:
The link is now available only through the wayback machine, or internet archive, which some people think is a godlike book of memory. NO, NO. Pages that pose no threat may be recorded accurately, but the record CAN BE manipulated, erased, or even altered. The site is owned and operated within the USA as far as I recall. Even if it no longer is, please treat preserved pages with caution. I have personally seen material being deleted AFTER it had been preserved there. That happened more than a decade ago and it happened to pages of a popular but not huge site [not mine but I posted there] that had a good bit of influence in the gold trading community and had some people with connections to the power elites/intel community. In such an important question as Russian reserves, you better NOT believe the deleted page was preserved accurately.
An interesting discussion brought to you by The Grayzone … Max Blumenthal & Aaron Mate with special guest Douglas Macgregor:
Yes, the petrodollar may go into decline. Probably good for all.
the only question at that point is whether the empire will go out with a bang and lash out at everyone, or implode with a whimper.
one view of it by Gonzalo Lira
I don’t think Lira is a particularly reliable informant.
He doesn’t even speak Russian or Ukrainian, even though he has lived in the country for 10 years.
It’s a poor reflection on anyone who lives in another country for years but doesn’t bother to learn the language. What a waste.
There are people I try to teach languages to, who have no memory of what I told them a week ago the next time we have class, so we have to start all over again. Six months later, no progress. Their aptitude is anywhere but foreign languages. Some of them are quite good language teachers because they have a lot of patience with people who just don’t get it.
So after Russia sells oil/gas in Yuan and once Iran starts selling its oil and gas in Yuan too, we could say that the game is %99 over. Other PG energy producers will have no choice but to follow on that path. The Uncle Shmuel will be lying to himself and as usual is going to believe in his own lies for a bit longer but soon he must face the truth. His last choice would be to start a world war, however given the enormity of the task he will have to give up on the idea. Happy Norouz.
About the ‘frozen reserves’ is it possible that the part in Euro or Pounds (because Russia doesnt have anymore Dollars) are in Central Bank respectively BCE and London ?
I mean : Gold is physical and I think it’s in Moscow.
When they speak about half frozen total assets I think about Euro and Pounds.
The digital value in Europe, not really cash or physical but digital (that’s why it was freeze).
That’s why half reserves frozen (Euro, Pounds) Half free (physical Gold and digital Yuan).
I think you don’t have to imagine physical pyles of cash of money but digital managed by Central Banks).
It’s the same between Euro States,
Just check : ‘ Target 2 BCE Italy Germany ‘
It’s a huge amount but just on paper.
Is this correct? What do you think?
Based on the article linked by user Monnalisa (a few posts up), your theory might be correct: It’s foreign currencies (euro, etc) that have been stolen by EU countries, not gold. But again: That’s just one source. Need more evidence.
Hummmm? Several years ago on various “English language Russian” sites I tried to inform anyone who would listen that Russia was making a mistake with gold. The only non-mistake would be to use it as the Rothschilds had done to use a phony “gold system,” constantly moving gold from one nation to another as a way to falsely build and destroy national currencies, one against the other, as their weapon to steal and conquer the world economically, which means totally. To do this, one must have physical control of the great bulk of the world’s gold. Or at least be able to make nations believe that you do.
But to mine as much gold as Russia has been mining and store it out of nation???? Insanity or, more likely, their still Rothschild central bank sabotaging the nation. Where was the oversight? Medvedev?
According to John Helmer the Kremlin has now put in place over the head of the Russian Central Bank a Committee to handle some of the issues that would normally be part of CB operations. I downloaded last year, “Nationalise The Rouble!” a book explaining how integrated the Russian CB (and all CB’s) are with international structures and institutions. For instance, the author explains that the Russian CB and officers are not governed by the Russian constitution and are not answerable to the Russian judicial system, but to the board of the IMF! John Helmer also points out that $1tr in capital has been looted from Russia by mostly Russian oligarchs in recent decades using the Western designed financial system – the greatest level of soverign looting tolerated by any government. This is where Putin gets his bad name for being allegedly in cohoots with friendly oligarchs. It might be explained by the idea that Russia has had enough of revolutions so Putin has worked for incremental change under a constitution and economic power structures bequeathed by Yeltsin and his US handlers, tolerating the shenanigans of the in situ oligarchic class while he has reformed elsewhere. Taking on the intl banking cartel is something almost no country can do head on, working with and around it are the only practical possibilities. Even the US, who has played host to the cartel’s HQ for 70 years – according to some – may have outlived its usefullness and the cartel is looking for a new dispensation to continue creaming off excessively from the wealth of the world.
The Russians may not have foreseen the draconian nature of the sanctions, but how, while pretending, for diplomatic purposes, that we live in a time of peace, does a nation mobilise for near total war without giving the game away? And if this level of sanctions did enter the the minds in the Kremlin, did they anticipate the political cover it could offer to give the ‘coup de grace’ to the ‘Atlantic-Integrationists’ inside Russia and the oligarchic interests they serve? Indeed to give the ‘coup de grace’ to US led globalisation, not a true globalisation but a form of ‘American nationalism’ writ large? Allowing the West to reveal its true hand so nakedly and offering the political cover for severing the internal links that tie Russia (and all countries with modern Central Banks) have to a system designed for US interests? From the comments here it would seem that it is in the nature of the system that some reserves be held outside the jurisdiction, while others may have been more judiciously handled in light of subsequent events.
So the current rupture is a significant tear across the cloth of the whole international financial fabric. Moving to the Gramscii’s ‘new order’ was never going to be linear with all bases covered by those who act to move it there, and the apparent mistakes seem to offer the political cover to move faster. Am I ascribing too much foresight to Putin’s (and Xi’s) inner circle (as Pepe frequently does) or is it “just events, dear boy, events”, as some UK PM once opined?!
It was Harold MacMillan actually
”Am I ascribing too much foresight to…”
No, you are not !
Great Leaders, great Patience, unique Perseverance !!
The most important world reserve currency is like the “Ring of Power.” Sauron is using that ring’s power to defeat Russia. The Ring bearer weakens as defined by its properties and in Triffin’s dilemma. It will be better for the world to end the reserve currency concept. Nations will do better by trading in their sovereign national currencies and doing currency swaps.
Russia can back its Ruble with its commodities. It needs to sell its resources only in Rubles. We have been asking Russia to move away from the Financial Empire’s financial system and its private currencies. However, Russia didn’t understand the Financial Empire’s PRIVATE currencies ($, €, £, ¥…) and just moved from the US$ to other private currencies. What a mistake. Were its central bank officers naive or controlled by the Financial Empire? Hopefully, China won’t repeat the same mistakes.
Russia’s challenge has always been its traitors. Let’s see how Vladimir Putin will hold those traitors accountable. If NATO and Ukraine are a threat to Russia’s security and sovereignty then traitors are a bigger threat. China, Russia and all nations need to work towards their sovereignty and security, particularly monetary and economic sovereignty. It is time to reinvent the global order on the sovereign foundation.
“Meanwhile, there’s a mystery to be solved: where is that frozen Russian gold?”
Probably in a vault next to the stolen Venezuelan gold until Russia recognises Alexei Navalny as President of Russia.
Juan Guaidó to gain control over €1.6bn (£1.3bn) of gold reserves held by the Bank of England have come closer to success after the UK supreme court ruled that Britain unequivocally recognises him as head of state. https://www.theguardian.com/law/2021/dec/20/guaido-closer-to-13bn-in-venezuelan-gold-after-uk-court-ruling
Almost two-thirds of the nation’s gold is kept in a Central Bank repository in Moscow. The rest is stored away in St. Petersburg and Yekaterinburg. https://www.rbth.com/politics_and_society/2017/02/01/where-are-russias-vast-gold-reserves-hidden_693531
The one half of frozen Russian reserves are foreign currency reserves. The gold reserve is in Russia.
Does anyone think the Russians would keep their gold reserve in London or NYC?
Switzerland is part of the $IMFS, hence Russia gold vaulted in Switzerland would be subject to seizure. Russia keeps it’s gold close to home. Why else would you own gold as a reserve asset, after observing the weaponization of the financial system of the West over the last decade?
As a Swiss national who saw the “dark side” of Switzerland
I can totally confirm: the USA owns Switzerland. Totally.
Worse than Colombia or South Korea…
As a Swiss /Canadian I’m ashamed of how my old country is acting on the world stages. Shame on this government. Same bad story as in the time of the 2 nd world war. Neutrality is a joke.
Neutrality my foot. It was just a con job that was concocted by the Anglo-Zio after WW2 to tell the world that people as well as countries in the West have the freedom to choose their own paths while in fact they have been held firmly by their very necks all along. That explains why those living in the west are ready to jump into Uncle Shmuel lie bubbles like during the last two years regarding the Corona pandemic and now the Ukraine.
You beat me to it. There is no such thing as neutral. You have to play the game. Swiss was to trap the naive and gullible. After 911 the empire went after them under the guise of tax evasion and supporting terrorism. Anyone who doesn’t play the game like say the Arab sheikhs, they can fabricate a story for the rest of naive sake. What is the sheikh going to say I stole this and I can prove it.
“There is no such thing as neutral.” Sweden during WW2 is a good example. The Netherlands during WW1 fits as well.
Switzerland during WWII
Switzerland is on the Russian list of unfriendly countries.
The Swiss right-wing party of Christoph Blocher will launch a referendum to restore a more neutral stance. Switzerland is having great problems with the EU. The left-wing party and the Greens are pro-American, imagine that! It is the right-wing that is the least brainwashed with Atlanticism.
“The left-wing party and the Greens are pro-American, imagine that! ”
Interesting, very much the saùe as Germany where the Greens have been almost insanely Russophobe. Why? All parties need funds and I heard years ago that the German Greens were not fussy about where they got their cash from.
Did Germany ever get their gold from the Yankees?
Its been a few years, last Great Depression and Bush/Cheney’s war, IIRC, but there was a time when a) Germany had its gold physically stored at the US Fed. b) Germany asked for it back. c) The US Fed said no. I think they eventually changed that to ‘eventually’
So, I’m curious, did Germany ever get their gold out of the clutches of the Yankees?
Never forget the ancient American bit of wisdom … “Great White Chief in Washington speaked with forked tongue.” This bunch has been crooks for a long, long time. The land I reside on once belong to Mexico back before a President name Polk faked a border incident to start a war to steal the land.
I don’t think the US would have enough physical gold to give back to Germany
It’s most probably in Tel Aviv or some other place of Zion
Did the US ever show the physical gold to anybody?
I am just going from memory here. I think they originally said something like (apologies to Dr, Seuss): Have now fear. You’ll have your gold in 6 short years.
I think they got it in about 2 years, after the central bank gold of Libya or some other country was flown out by the US for safekeeping.
Surely one way around this conundrum is to sell your gold that’s held in America to some dummy. Then buy psychical gold directly from a local producer.
Psychical gold is probably preferable to physical gold, it doesn’t have to be mined, transported, smelted and stored, like the heavy stuff.
I really needed a good laugh. This was beautiful!
Yes Germany got its gold back from the Yankees, but it took about 4 years.
“All official Russian gold reserves are stored domestically.”
“The Bank of Russia stores two-thirds of its gold reserves in Moscow in a Bank building on Ulitsa Pravdy (Pravda Street), and the remaining one-third of the gold reserves in a building in the city of St Petersburg”
“The Moscow storage vault is known as the Central vault of the Bank of Russia and comprises a space of 17,000 sq/metres, with a storage area of 1,500 sq/metres, and stores both cash and precious metals. The gold stored in this vault is mostly in the form of large variable weight ‘standard gold bars’ which weigh between 10 kgs and 14 kgs (ie Good Delivery bars). The vault also stores some smaller bars (100 grams to 1 kgs bars). The gold bars in the vault are stored in plastic and wooden boxes.”
@ Serbian girl
Thanks Pepe for your article, and thank you Serbian girl for this catch. I wonder if Pepe has seen it/knew about it. Wonder what the Saker’s opinion might be in this imbroglio.
I remember reading a novel a long time ago, and one element of the plot touched on how to make physical gold worthless- by making it radioactive (and with a “salted”, i.e., cobalt) weapon. Not sure if this in fact feasible, scientifically speaking. In any event, even an attempt something like this would involve crossing a certain threshold of escalation that is quite scary, to say the least.
I think the novel is one by Charles McCarry, who writes beautifully, and was a NOC in the 40s and 50s (he wrote The Tears of Autumn). By strange coincidence, McCarry and le Carre were born a year apart, and died a year apart.
I think that Moscow is deceiving the West here. It’s more likely that Russia’s gold is entirely inside Russia. They’re trying to make the Westerners believe that Russia has also lost it’s gold and it has no means of backing the Ruble.
The head of Russian Ministry of Finance Siluanov 2018:
“If the gold and foreign exchange reserves of the Russian Federation are arrested within the framework of sanctions restrictions, this will be regarded as a “declaration of financial war.
If our gold and foreign exchange reserves can be arrested, even if someone has such an idea, this is just financial terrorism, the real one.
If sanctions restrictions include the freezing of foreign accounts of the Central Bank, which contain securities and currency from Russian reserves, this will be tantamount to “declaring financial war on Russia,” Siluanov said.
He added that he considers such a scenario unlikely. “I think that, of course, it will not come to this,” the head of the Ministry of Finance said.
Siluanov March 2022: West has frozen about $300 billion of Russia’s gold and foreign exchange reserves
This is very confusing. Perhaps someone who natively speaks Russian can help clear this up.
The Bank of Russia’s website shows $132bn in Gold Reserves as of Jan. 2022, along with the remainder in foreign instruments and the IMF:
(slow to load due to DDoS).
This article in Gazeta implies all metallic reserves are held in Russia. But, it also seems to imply that the bank will want to rebuild it’s reserve in Gold only. Or I’m reading this very wrong, and machine translations are not helping me.
Perhaps this report will help others discover if part of the reserves that are frozen are metallic or not.
One problem at the moment is that the weight of the ruble is 5.5 % and yuan 94.5% as a sort of relative percentage of world trade, so Russia might have to chip in quite a tidy amount of gold to get a bigger share. But if India, Indonesia, Brazil, Saudi Arabia, Turkey and others also join, the Yuan will have a bit less weight. Otherwise the risk is that it becomes China’s third currency, a Chinese dollar of sorts.
But I am sure they will find a fair deal
If the west has access to Russia’s gold (frozen)…checkmate! The west will unfreeze the gold and return gold plated tungsten bars and will laugh all the way to the Bank of England, Canada, US Treasury etc.
It should have been clear for years that Nabiullina is a 5th column asset. It’s incomprehensible to me that she is still allowed to run the most important job in Russia’s economy. It’s almost like nobody around Putin has the slightest clue how utterly important the central bank is.
That said, my contacts in the asset mgmt business told me that by end of January there was chatter on bloomberg that the EU might freeze the CBR’s assets in case of war.
That’s some ordinary traders, no insiders of any kind!
If they talked about it, how and why could anyone at the CBR have been unaware of that threat?
Why didn’t they transfer everything away from the US and EU?
And why are these crooks still in charge?
Agreed. Nabiullina a disaster. The whole regime change attack on Russia to try to get a lackey regime to surround China which does not have a privately owned Central Bank. Big part of Anglo politics last 200 years.Massive struggle in 19th century till Banksters won in 1913 and created Fed.
How could the Central Bank’s Elvira Nabiulina and her team let half of foreign reserves and even gold be stored in Western banks and/or vaults?
Probably intentionally, to clearly demonstrate the clear and present danger of continuing to transact and invest in US Dollars.
The freezing of Russias foreign reserve assets should have, and likely did, raise the alarm for every country on earth that uses dollars, and provided them just the right amount of motivation needed to start looking for safer alternatives.
Maybe the stolen gold is on the fingers,watches etc. of the Yeltsin era robbing crooks that Putin showed the door to?
The USD GBP & EURO must be smashed because a handful of evil corrupt elites (answerable to nobody and who corrupt and plague the political & economic processes) control it and have done for 200-500 years are unfit to continue to do so.
Until the US UK EU patriotic forces move to remove those elites and reform their monetary system, this should be the state of play.
If the frozen Russian Gold is in Switzerland or EU it then justifies Russian military action to force its release in my view a freezing assets amounts to theft. The Swiss cannot be trusted with anything and are mere puppets of EU & UK banks.
One thing that might be useful for Russia to do at this time is to settle the Spanish Gold dispute from the 1937 Ciivl War, and allocate a suitable amount of the frozen gold back to Spain (estimate at about $8bn) which would make Spain more Russian friendly. But of course, the ECB & EU devils would regardless of the timing of this try to figure out a way to steal that gold off Spain even is transfer under normal methods.
Spain, Greece and others (incl Italy) in the south have had about enough of the EU ECB and Brussels and I think are looking for a better deal, as I think the EU would be far better being split in 3 units (north, south and east) each with their own currency and trading rules (tho a reversion back to the EEC for every EU country would be even better).
Well, all of your suggestions seem possible. But I have no idea which of the many possibilities is the reality.
I share the view that it seems unlikely that Russia’s physical gold is in the West. That just seems too crazy. But that SEEMED to be what the (translated) Russian statement said. I was trying to figure out that IF it were accurate, what possible explanations COULD there be.
we all must wait for Russia’s central bank to give us the details of just WHAT was confiscated, and why it was where it was — and most of all, what FUNCTION its foreign holdings of currency were to perform. My idea was that these bank accounts and assets were to pay interest on its foreign bonds coming up shortly, and to stabilize the rouble’s exchange rate.
if that is the case, I would urge non-payment, telling the bondholders to collect from the government(s) that have confiscated the means to pay.
This is, by the way, precisely what happened to Iran when the Shah was overthrown. Chase Manhattan refused to use Iran’s deposits to pay bondholders, and the iranian government was declared to be in default.
Russia may mobilize foreign bondholders to oppose this — or mobilize general non-payment of dollarized and sterling foreign debt, on the grounds that there is no vehicle or medium to pay, until such time as Russia and China develop an independent exchange somewhere outside of NATO control.
I would be surprised if much of the Russian gold is in any EU US UK banks given the tensions pending since 2014 and Russia may have known the danger.
But Russia and China have their own substantial gold production anyway.
Chase being a wicked FED related bank of course, were thieves after the Shah left.
And the US’s whole conduct since then over Iran has been appalling.
I think Russia ought to float the idea of a EU breakup by offering trading rights to both southern and eastern EU countries, if they EU-EXIT and form their own separate blocks – offer them oil & gas etc at good prices to get away from the devils in the north who are causing all the problems. This would help stablize the whole geo-political situation.
And Im sure most Germans don’t want to continue to subsidize the rest of the EU anyway as they have been doing for a long time. French & Dutch etc… too.
If there was more expanded a NATO EU – Russia conflict – do you really think people from southern Europe (Spain, Portugal, Italy, Albania, Serbia, Greece etc…) would want to be joining armies to fight Russia ? As Russia’s never be a foe of theirs. And they have generally good relations with them.
The people in the old Eastern Bloc also would be wary.
I don’t even think the average person in the north would want either – but their greedy corrupt leaders do.
Always appreciate your thinking Michael.
Where financial assets are located is important, but likely not the defining factor in the context of Russia today.
It’s just time.
What we are witnessing, dare I say it, is David’s defiant stance against an increasingly compromised Goliath. One who is complacent like a wily but aged gladiator, who has decisively taken down all comers since the Korean war, and can entertain no other possible outcome.
This time is already different.
Russia’s preparation is unparalleled.
David today isn’t intimidated, as he holds his opponent at bay with hypersonic stones.
Crucially, they are totally within Russian control.
The opposition respects that currency, knowing it would not survive the destruction of just a single aircraft carrier.
Long term cycles say it’s now, happening live, and appreciated by all who understand that we are experiencing the collapse of a 300 year cycle of Anglo American naval pirate power, uber alles.
As the empire where the sun never sets increasingly fades into history.
Maybe Russia has been trolling the West, letting it believe a portion of her reserves were in unspecified European banks by using misleading language, knowing that the West would want to steal it at a time like this. Russia knew for years that tensions would keep on increasing until Russia herself had built up enough military and economic resilliance and force to be able to force through the changes she is bringing about now. No way would she allow her gold reserves to be held in foreign banks, except for small amounts of unfinished trade transactions.
My prediction is that by April, as spring temperatures rise the gold in Moscow and St Petersburg vaults will gently unfreeze itself. If there is any gold stored in Siberia (eg freshly mined) it will take a few extra months to unfreeze itself.
Given the news posted on March 14 and I quote “The member states of the Eurasian Economic Union (EAEU) and China will develop a project for an independent international monetary and financial system. This was agreed upon by the participants in the economic dialogue “A New Stage of Monetary, Financial and Economic Cooperation between the EAEU and the PRC. Global Transformations: Challenges and Solutions”, which was held on March 11 via videoconference. It is envisaged that the system will be based on a new international currency, which will be calculated as an index of the national currencies of the participating countries and commodity prices. The first draft will be submitted for discussion by the end of March. As Sergei Glazyev, Minister for Integration and Macroeconomics of the EEC, emphasized, China was the first in the world to move to the stage of national economic recovery.” I have a question: this new independent international monetary and financial system is similar / or has anything to do with “Sovereign Nations that signed the 2016 Paris Accord joined & adopted the NEW International Monetary System (“IMS”)”? Thank you
If Russia has foreign asset problems, then what about China, with its 3.2 trillion dollars held in foreign assets?
I have always assumed that China had accepted that these Reserves, will be erased one day, with the stroke of a pen, but that was deemed to the price for turning China into a modern super power, from a peasant backwater??
The narrative in 2020 when the west was blaming China for COVID coming from a bio lab there that Gates ans & Fauci set up, was to bill China $trillions for it.
That narrative has subsided but is still there.
Its part of whole COVID racket being played out.
No wonder China signed on to this Eurasian currency trade bloc.
its a waiting game at this point, China is a whole nother beast for the US to try and take on. trying anything on those foreign reserves might have unintended consequences on the USD and the US itself in which there could be no returning from i imagine.
…god forbid, if for whatever reasons Russia fails in her efforts towards dismantling the Ukronazi gangs and the NATO, it would be on the whole an easy task for the globalists to handle China in matter of weeks without difficulties and even a good deal shorter regarding Iran. So methinks the current situation in Ukraine should be of utmost importance for one and all.
The problem for us here in the flailing west is that our overlords are spending capital faster than we underlings can produce it. Even worse it’s interest on capital on interest on capital, aka – AAA + Dogshit masquerading as collateral.
We should work harder, for longer and accept less in payment if we’re ever going to get our countries back on a level footing.
The floggings will continue until morale improves.
China and Russia could decide, any time they wish, to ‘revalue’ the gold market to their liking, as compensation for these penalties, imposed by the US/NATO.
Even the threat of this possibility would be enough to strike terror into the world markets!
Problem is…most of the hard core conservatives in Russia don’t want dependency on India or China. The best the Russians can do now is wall-up Eurasia…call German Sterligov…and pray.
And yeah…put a leash on those central bankers responsible for exposing Russian assets to foreign capture.
Are u kidding me? How could Russian financial ministers ever agree to ship gold out of the country- to the UK or US FED? This is incompetence. I generally have more respect of the Russian ruling elite. Unbelievable!
when they buy a ton of gold (i mean literally a ton) they don’t typically move the physical asset. there’s supposed to be some level of trust that stays wherever it was bought from and an accounting entry is made somewhere. unless you’re dealing with the thieves of the west
many weaker countries, like for eg: India without the secure storage like Ft Knox, typically store it abroad
2008, to be precise 08/08/2008
One hopes that all Russian Gold is in Russia, but most of its other foreign exchange holdings, principally Euros, are in Western banks. 300 billion euros have been seized by the European NATO powers. I see one obvious way get this money back: Nord Stream 1 could be closed until this money is returned. Of course there is no point in Russia having euros returned if they can be seized again at any time. Instead Russia should demand 7000 tonnes of European gold before it re-opened Nord Stream 1. That would drain German, French, and Italian gold reserves and provide excellent reserves for this new Eurasian currency.
Russia keeps 100 of its gold in Russia.
The frozen is only related to “paper” markets and Western markets have “frozen” Russian-refined gold from the ability to trade in Western “paper” paper markets.
Prophet Muhammad (pbuh) said that the great war would be fought for a mountain of gold.. Shiekh Imran Hosein says it’s the peteo dollar monetary system.. And that fight has intensified.. It’s nw a matter of tym before the Malhama(Armageddon) takes place.. Every reason to believe that there could be a massive false flag which would bring Russia and NATO face to face..
Regarding Russia’s gold reserves… there’s a very interesting (but depressing) interview with State Duma Deputy Mikhail Delyagin, in which he spills the beans about Elvira Nabiullina’s harmful economic policies:
Q: Recently, they say that the Central Bank began to export abroad, to London, gold. What is this story?
A: This process has been going on for the past year. Exported, according to some estimates, 600 tons. Nabiullina said – whoever wants to sell gold to get cash, or if you mine gold and trade it, keep in mind that the state, in my person, will not buy gold from you at a market price. We will take it at a big discount. If you want to get honest money for it, please export it. The world center of gold trading is London. Accordingly, everyone began to export and sell gold there. Including Mr. Gref. The head of the formally state-owned Sberbank sold a huge part of his gold reserves.
You can read the whole interview here:
Between 2016 and 2019 Russia sold off around $100 Billion in US Treasuries, about 95% of holdings. Giving credence that Russia has planned financially, along with other non-financial relevant criteria, for this day.
That they’d lend out or store their gold reserves 3 x to the tune of their ex- US Treasury holdings, abroad, when they’re running down western entanglement is highly unlikely in any decade long strategic planning.
Still Russia is holding a lot of Euros for gas and alternative payment must be sought if not already done.
Brave country though who would adopt/repatriate Russia’s sovereign assets. A large uptick in Banker suicides by nailgun and headfirst off high buildings would be forecast.
Perhaps it is time for us to examine our historical banking system?
When bank customers, such as individuals, companies, and nations, apply for bank loans, the banks value their customers’ collateral, and then the banks, secretly, transfer the Titles to their customers’ collateral, to the banks.
The loan funds are now created, from Nothing, using the banks’ licenses to create bank credit, as bank assets, and as customer, interest-bearing debts. The banks then are operating as pawnbrokers, with licenses to create bank credit.
Unfortunately, for the banks, this bookkeeping system is a fraud, imposed upon their customers, who only accept the burdens, arising from compound interest, as they believe they are are loaning valuable, preexisting bank capital.
In a court of Law, all our personal, company, and national debts, could be erased, as the proceeds arising from crime, with the banks hit with cartel penalties. Alternatively, all customer loans could be reengineered into interest-free, customer asset loans, with all previous interest payments, returned to the bank customers, with penalties. The banks then will be nationally owned, and their operations will provide a profit-free service, to our nation!
Just why are we paying compound interest, upon financial reflections of our own collateral?
Gold, gold, gold!
Last I checked you can’t eat gold and you’d be hard pressed to build a house with it. It’s just shiny stuff to attract crows, for mankind it has no intrinsic value. A currency has no intrinsic value either, it is just a medium of exchange that makes for a more efficient way of compensating other human beings for the exchange of goods and services than the barter system does. It doesn’t matter who has the gold. Only mankind’s superstitious belief in the value of gold creates its importance.
Re your comments on Gold – – Nonsense ! Nothing financial is as good as Gold.
It’s value is embedded in the work needed to find, mine and refine it, and its enduring physical characteristics. It is a measure of value that does not change over time and is very difficult to destroy. Ownership does require possession though.
Here’s a very interesting interview with renowned director Oliver Stone, who had interviewed Putin:
“Oliver Stone on Putin, Ukraine, Zelensky, Neo-Nazi and CIA”
Full Podcast: https://youtu.be/g3pX9zYOTkI (1:28:18)
Anyone with a basic knowledge of fiat monetary systems, history, banking, economic theories, and (bi) metallic monetary systems would know “if you don’t hold it, you don’t own it.”
The same has happened, in this case to Russia, which is the ‘freezing’ of accounts of ‘money’ held as digital entries in a computer’s memory, to millions of private individual accounts on many countries. So the lesson should be learnt well: never have third party liabilities. And whatever is used as money should endure as a store of value and a means of exchange forever, like the universal choice of humanity; gold.
“Money is gold, and nothing else.” ( JP Morgan. 1912 ). All ‘else’ are gold substitutes masquerading as money.
One final point. The use of the US dollar for foreign exchange reserves, and the recycling through the US (debt) bond market is like giving a gun to a thief and telling him to kill you. The strength of the US dollar and the US perpetual deficit enabling the US to maintain a global military presence is only made possible by other countries’ use of the US dollar. This should have been obvious since the 1970s but no country was economically strong enough or brave enough to resist US dominance until now.
I also came across this 2 hr long video on Rumble – yet to watch full, but thought of sharing
“PUTIN VS THE DEEP STATE – PART ONE – A Film By MrTruthBomb”
Russian gold is inside of China.
If true about the gold. I’m wondering how Elvira Nabiulina and her team are going to like Northern Siberia?
Nabulina has done this probably
(not on purpose)
And she probably has placed the cash and gold in Europe’s or American banks
If that’s the case will she land on Siberia? Or simply resign?
Apparently she will make an announcement on thd 18th of March
If I have a credit card there are two aspects: I can use to buy things, and I can pay off the debt so that I can contue to use it to buy things. If for some reason I will not be able to buy any more with it — say I am ‘sanctioned’ and not allowed to buy things, an important shift takes place: if I can’t buy things with it anyway thenthe motivation to pay off the debt disappears, and I no longer have a problem — the creditor now owns the problem, to collect what is owed to him.
Russia can simply ‘write a check’ to pay debt, drawn on gold held in accounts in the west, and it is the creditor’s problem to collect on it, to convince those who hold the gold to release it to them. The more debt and larger the number of creditors — who will not sell me anything else because of sanctions — the greater the pressure on the holders of the gold to release it. Since Russia ‘wrote the check then Russia has acted in good faith and doesn’t need to worry about if or when the creditors get thier gold — their gold, not Russia’s because Russia has already transferred title for it to the creditors. “You want your money? There it is (in the Bank of England, for instance) so go get it. Fight with them over it.”) In the meantime Russia can do business with those not involved with the sanctions, using some other financial system.
Gold is not money.
Gold does not build pyramids, only human labour, skills, and natural resources.
As any hunter-gatherer will tell you, money is human energy, exchanged within a marketplace.
Germany had no gold in the 1930’s, so they created ‘one Mark of money, against one Mark of labour’, and turned their economy into the ‘German Miracle’!
It took the rest of the world five years to destroy Germany, in WW2, and to force the country back onto debt finance, and the historical crimes of usury!
A great financial opportunity for our world, was lost, in the process!
I think you may find that pre-WWII Germany was financed by banks in the USUK.
Agree but it has a store of value because it is scarce and does not deteriorate over time.
It does not oxidize and is soft enough to work. And today is critical for inside microchips.
And commodity of value is currency.
“Gold is not money.”
You are correct. However, if you take each noun as a definition of money, “money is gold, and nothing else” said succinctly and correctly in 1912 by JP Morgan.
Gold cannot be “money” as defined by today’s bankers, financial institutions, governments, and economic theorists.
“Money” today is a figment of the collective imagination held on a computer’s memory.
It only serves while every individual has a collective faith that it will serve as means of exchange and store of value.
That faith is almost gone.
As Russia is finding out.
As the 100 year FIAT experiment has failed, as all FIAT currencies have failed since the beginning of trade and commerce 7000 years ago. “Money is gold, and nothing else.”
It’s a choice made by humanity, collectively and universally over 7000 years.
You as an individual don’t have to “like” gold, but with it you would be better prepared to survive the coming eradication of the current monetary system.
Then why since 5000 years did gold serve as a means of exchange and stored value?
@Ric G: You seem to be absolutely ignorant of money. You need to understand the basics of money, what is fit to used as money and why money is used in the first place. Throughout history, gold and silver have been the most preferred means of “money”.
Even the paper money that you use, it used to be backed by gold and without that gold backing, nations and people wouldn’t have accepted paper currency.
When was the last time you didn’t buy anything with “paper” money? Oh, and now we can’t even see the paper in digital money! I can go on but get a short course on fundamentals of money. That would help clear your ignorance.
Money is a medium of exchange. It has to be something in limited supply that is non counterfeitable. I think gold fits that definition.
Just a thought- we know that the derivatives market is much larger than the ‘real’ market in every sense.
I wonder if Russia (and China) could have hedged their potential paper losses with other paper assets that, if they all go ‘poof’, will amount to a wash.
“Saudi Arabia is considering accepting Chinese yuan – and not US dollars – for selling oil to China.”
A step in the correct multipolar direction. See this site for who buys saudi oil and how much:
Who Buys Oil From Saudi Arabia?
The Chinese account for 17% of saudi oil sales, about one sixth. Japan, 21%, usa, 15%, south korea, 14% and India, 12%. The rest buy single digit percentages or fractions, though europe, as a whole buys maybe about 10%. The japanese, s. koreans, americans and europe will likely continue the petrodollar. India, under the israeli modi asset, likely will too, but they may not. Total sales in saudi oil exports were around $170 billion. Trade using dollars worldwide in the trillions.
Likely the nations will have to repeat a cold war situation, since israeloamerica doesn’t want to let go. Two sides, two systems, with those countries sitting on the fence being targeted for israeloamerican color revolutions or wars. No quick fix. It’s a long slog ahead, but we’ll get there, though probably not in my lifetime.
Hard to believe that Russia hasn’t got full control of its Gold reserves. Pretty bloody dumb ! Totally annoys me especially at this time when Russia should be financially A-ok because of its Gold.
“Meanwhile, there’s a mystery to be solved: where is that frozen Russian gold?”
Where are Russia’s vast gold reserves hidden?
“While Russia does not have a Fort Knox, almost two-thirds of the nation’s gold is kept in a Central Bank repository in Moscow. The rest is stored away in St. Petersburg and Yekaterinburg. The gold is kept in bullions weighing from 100 grams to 14 kilograms.”
The article is dated 2017, I seriously doubt Russia since sent their gold holding abroad.
“Meanwhile, there’s a mystery to be solved: where is that frozen Russian gold?”
Who Holds Russia’s Central Bank Reserves?
Bank of Russia
Further searching the web shows this claim that Russia’s gold reserves were sent abroad and now pirated shows this originates from zio-media sources.
Just after I posted on the wayback machine being manipulated, I found I could not get into my blog and when I do it is loading and loading and not able to post.
These sorts of things are always mysteriously happening, with a lot of plausible deniability [software issues…etc] but they always seem to happen after posting something problematic for the central controllers…
I think I made a reference they did not like.
A Russian friend posted this:
How the Chinese government explained to its citizens what is happening today between Russia and Ukraine.
It must be said that all the population of China is emotionally always on the side of Russia, so that it does not happen in Russia.
But what is really going on, the ordinary Chinese can’t understand.
And so the government decided to explain to the common people in an accessible language, using an allegory.
More than 20 years ago, Ukraine divorced her husband Russia.
This marriage had children.
The husband (Russia) was generous and left his wife a great legacy, and even paid his wife’s debts – 200 billion. $.
After the breakup, the wife began to flirt with a village hooligan (USA) and a gang of robbers (West).
The wife began to listen only to their opinion, and began to attack her ex-husband with them.
Then the husband got angry and forcefully took away one child from her – Crimea.
Then an angry wife said that she would marry NATO in order to force her ex-husband to return Crimea back.
However, a rural American hooligan did not want to marry, nor did he want to get into a fight with the ex-husband – Russia. But planned that with the help of Ukraine he could humiliate the ex-husband – Russia.
The wife was a bad mother, and from time to time she beat her other children – Lugansk and Donetsk.
The children cried and sought help from their father, who from time to time helped the children with material, and argued with his ex-wife.
But everything was unsuccessful…
The main bandit, who caused this swearing and quarreling, used this wife, wishing to get her wealth. He persuaded her to get into a quarrel with the ex-husband and gave her various gifts (binding, weapons, expired equipment).
The wife decided that she had a protector to rely on, and began to dare and provoke her ex-husband.
His patience has flown by.
Together with his relative (Belorussia) he began a fight for the protection of his children – Donetsk and Lugansk.
Then she, along with the hooligans (EU and NATO) got scared.
The chief rapist and hooligan (USA) refused to continue swearing with the ex-husband, and left the wife alone with her ex-husband.
The husband is now taking control of the children and property he left behind to his wife.
After such an explanation, the Chinese understood everything.
Thanks, that’s a great useful story. Can come in handy to explain to propagandized people what’s going on.
I loved yr story and with yr permission would like to send it to friends.
I do not know how to do this so could you email it please.
Copy and paste?
Won’t work with the woke west. Here, the battered, abused woman card is a trump that requires no evidence, the claim is all the evidence required.
We must look at it historically. 1945 was the end of Nazism and the German master race idea thanks to the Soviet Union. Germany had been made meshugge by British and French rivalry. It was replaced by American exceptionalism, which is a new Anglo-Saxon master-race ideology no less warlike and detrimental but with a more pleasing face. None the less America is an Empire of Chaos, as Pepe describes it in his earlier book. Ukraine is its proxy war and 2022 a turning point. Russia has now freed itself. Everyone senses it, America is an Empire of Lies and hubris. There is still much confusion. China is the one great power that has never had imperial ambitions and with Russia it will lead the world to modest prosperity and multilateralism.
The CIA has more assets in SA and more control over SA than probably any other country. MBS will continue to trade oil for USD for a long time
How will the USA protect its assets in the KSA? Regime change, invasion?
@ C.Jones on March 16, 2022 · at 12:50 am EST/EDT
I think you may find that pre-WWII Germany was financed by banks in the USUK.
And I think you will find that this is a cover story, designed to betray the inquiring mind!
Winston Churchill told Lord Robert Boothby:
Germany’s most unforgivable crime before the Second World War was her attempt to extricate her economic power from the world’s trading system and to create her own exchange mechanism which would deny world finance its opportunity to profit.
We went to war over Germany’s asset-based monetary system!
je suis citoyen marocain , et vais regulierement sur ce site the saker is
il est pratiquement difficile d’avoir des informations sur ce qui se passe , etant submergé par la desinformation des medias occidentaux
en fait le but de mon intervention ici etait :
comment les dirigeants russes ont il pu laisser autant d’or , de devises et de capitaux a l’etranger ?
pourquoi la premiere responsable Elvira Nabiulina de la Banque centrale et son équipe ne sont pas arreter et enfermé a vie pour autre trahison ?
la russie est en guerre , comment peut elle accepter autant de traitre en son sein ?
franchement ca me donne envie de pleurer
prions tous ensemble que la russie gagne cette guerre , pour le salut et la paix dans le futur
traduction du texte francais en anglais :
I am a Moroccan citizen, and go regularly to this site the coronation is
it is difficult to have information on what is happening, being overwhelmed by disinformation from the revealed media
in fact the but of my intervention here was:
How could Russia’s leaders leave so much gold, currency and capital abroad?
Why aren’t Central Bank Chief Elvira Nabiulina and her team arrested and locked up for life for yet another betrayal?
Russia is at war, how can it accept so many traitors within it?
honestly it makes me want to cry
let’s all pray together that russia wins this war, for salvation and peace in the future
Mon cher Atman;
Je pleure avec vous. Moi aussi je n’arrive pas à comprendre l’énorme erreur commise par Nabiulina et son équipe. J’en arrive à penser qu’il s’agit soit de corruption, soit d’incompétence.
Dans le fond je crois qu’il existe une certaine élite en Russie qui ne rêve qu’à être acceptée par l’Ouest. Dans ce but ils sont prêts à toutes les trahisons avec l’espoir d’être accueillis dans le sein occidental.
La Russie a toujours souffert historiquement parlant, de traîtres enivrés par l’Europe.
My dear Atman;
I cry with you. I too cannot understand the huge mistake made by Nabiulina and her team. I’m coming to think it’s either corruption or incompetence.
Basically, I believe that there is a certain elite in Russia who only dream of being accepted by the West. To this end they are ready for all betrayals in the hope of being welcomed into the Western bosom.
Russia has always suffered, historically speaking, from traitors drunk on Europe
Elvira Sakhipzadovna was never kosher (or too kosher – depends on your point of view), but there seem to be a number of secret agreements / dictates between Russia and the West from the Yelzin years. VVP is not as strong internally as Western MSM make him out to be. The “untouchables” are still free and the Atlanticists are still roaming the Russian political landscape, though less so since last fall. Arch-opportunist Medvedev’s strange, almost extremist (at least for him) statements from a month or so ago seem to point that these 5th column rodents feel the heat. And then there is that rumor about the CIA having dirt on VVP from his years back in the GDR. But this is a new game and we’ll see the players and moves over the next weeks / months. Personally I’m happy Glazyev is back / more active and visible again; hopefully VVP listens to him. He is the right man in the current situation.
Alasdair Macleod has stated a couple of times to my knowledge (‘Liberty & Finance’ interview 2 or 3 months ago, and ‘As Good As Gold’ down under, similar time frame) that he believes China to have 30k+ tons and Russia to have 12 – 14k tons of physical gold. He is/was a very well connected guy in the City and has always struck me as an honest broker. (Although my life’s track record in judging people leaves something to be desired !)
I also believe, especially in the current climate, that food, fertilizers, precious and rare metals etc etc are better than gold. Not to mention an array of hypersonics and other missiles.
I am confident that all stolen currencies in whatever guise will be returned in due course. The pain dial may need to be ratcheted a couple s’more ‘clicks’ by way of persuasion.
Russia will be fine. God is with her.
WOW if this is true with respect to the Gold reserve of Russia! I thought it’s only 3rd world countries that would be this incompetent. This will be at a different level of incompetency and naivety. Me, here thinking that Russians economists will be extremely smart and geopolitics aware. Praying for peace for the world. Let’s end all wars.
There are two possibilities.
1. The liquid US and European treasury securities are frozen.
2. Russia used the gold as lien to borrow money to invest in securities which have higher return that gold price increase (Although Very difficult to find securities which has done better as compared to gold in at least since 2008 onwards-especially low risk secure type of securities that central banks invest in.)
Anyone know about the quantum of Russian money frozen as result of a US cryptocurrency freezing 25000 crypto wallets originating from Russia?
I must say I enjoyed reading text + comments. It is not often when a text provokes most comments to be competent and contibutable to the theme. Praise for all.
In total, for now, 17324 views and 83 comments, meaning 17,000 influential and literate readers, very likely from educationally higher layers of population, since it is not so easy to read sometimes heavy and often lengthy articles on Saker’s blog.
Just for this drop of truth in the ocean of lies, among many other drops, but fallen at the right places, imo means that Russia is far from loosing propaganda or information war.
And the theme of Pepe’s text is crucial for grasping what is really going on, what is significance of global changes provoked by what is happening in Ukraine. The term “provoked” is inadequate, “triggered” would be better, because all these processes are boiling for long time, ones more, others less.
Many people (analysts) claim that the Empire of Lies masterly lured Russia into a trap. It is rather lure in the lure – to show finally the King is naked. To accelerate slow and underground processes, mostly invisible for ordinary people, who finally carry all them on its back. As for propaganda war, allegedly won by the EoL, it is only temporary. If we withstand the first, furious tsunami, the truth will appear by itself, slowly but steady and persistently. One of the pieces already came with bio labs.
What is more important, the events in Ukraine, and much more over the world, are carefully considered by leaderships of all countries and elites, which are much better informed about than their populations, overwhelmed with lies, and just observe and measure which side in this clash is about to win. All of them are fed up of the USA and Co., including even the EU.
I am quite sure that Russia carefully prepared all plans (just see the originality and uniqueness of military campaign on terrain), it had its dense intel mesh on the ground so it perfectly well knows what it deals with. Also, Russia had an obvious example of Yugoslavia war 1999, with all propaganda and demonization operations from the EoL, and all subsequent aggressions from the EoL, especially from Libya and Venezuela for robbery of billions.
Beats me why any central bank would put its gold in the hands of a New York bank ‘for safekeeping’. The Americans will confiscate it, inevitably. They are not honest—not ‘agreement-capable’, as the Russians themselves have discovered.
maybe, said in jest, it gives them an excuse to go all the way to Manhattan, and take it back. That I should live to see such a day, praise the Lord.
If the five eyes have confiscated Russian gold then that is idolatry in a spiritual sense. ” No idolators will enter the K……”? Most sensible thing to do is pay back double what is ‘frozen’ before sunset post-Purim Sabbath.
Remember Queen Esther. You are not playing with a whimp in this league. She played serious hard ball.
This is an existential threat to millions of citizens of various countries. The Boss plays for keeps.
Even if ex-Senior bureaucrats lie through their teeth on TV to make this go away, current bureaucrats will answer and get no cover from their clearly ‘fruitcake’ predecessors in the eyes of their Creator.
Fear guys. Really fear.
Despite constant Western invasion alerts, it seems Russia achieved tactical surprise, although not every ‘coup de main’ achieved its aim. Nothing surprisng there.
I wonder if leaving foreign currency reserves vulnerable was neccessary to achieve that surprise? Was there a calculation that the nations that hold Russian reserves have counter balancing assets in Russia that can, if neccessary, be confiscated? This is certainly true of Germany and France.
I do not believe that the Russian government and particularly Glazyev never thought that the West were capable of the sanctions they have imposed.
I saw a picture of Putin and Bush both wearing freemason outfits. Was this fake news? If not, what can you expect when a freemason is your leader (like the alleged freemason Rouhani in Iran who helped siphon off dollars and gold out if Iran to benefit his masters). I know the Saker thinks those who doubt Putin as 6th columnists. I know this will make me unpopular on this bkig, and it would be risky for any Russian to come out against Putin. I see freemasons as non-Jewish Zionists lackeys of Zionists, who sell their soul to be admitted in the halls of power (media and finance almost exclusively controlled at the top by Jewish Zionists, with freemason collabr as adjuncts). Please review the anti-Iranian, pro-Israel actions of Putin (not the misleading words) side by side with his actions that hands over Russian gold and foreign currency reserves and the medium term isolation and ruining of Russian economy (never mind his nationalism in words, which might provide a cover) side by side. If he gains nothing except Donbass maybe out of his incursion (ie Novorossiaya) you can bet he is another Saddam/Noriega in disguise.
I think you are seeing things from a buckled perspective. Just think about it who could fit into freemasonry schema? Someone who supports the existing globalist agendas and the dollar hegemony or someone who is going against it?
I saw a picture of Putin and Bush both wearing freemason outfits.
Please don’t post such nonsense here.
lest not forget Russia is the absolute resource-rich behemoth on this planet, irrespective of how much gold/ other reserves the country now holds. Russia could quickly compensate for most shortages following a short time austerity program. And if the West wants to continue playing tough, Moscow could easily export its resources at reduced price toward China, India, Brazil …boosting those while make nice mash potato out of the Western economy and their Woke followers.
The influence of Wall Street and neoliberal though is still too strong, Putin’s weakest point is adhering to conventional/neoliberal economics and listening to the people that destroyed Russia on behalf of Wall Street in the 90s. Cental Bank and some bank execs of RF should be taken out and shot in the street, pardon my French.
One can only hope this wake up call is not fatal.
The English language is one of the main weapons of the Anglos.When they ocuppied the Phillipnes one of the first things they did was to erase the Spanish language. (the other thing they erased was … 1/3 of the people during the First Philipino Republic….nobody talks about this anymore..)…like Andrei says….snow niggers in Russia…and tropical niggers in the Phillipines.
If we believe that the Russian leadership is exceedingly clever, and I guess most of us do….
The Russian leadership must believe that by letting the foreign bank account of Russia be frozen they achieve the destruction of the Petro-$.
Nobody will ever trust the $ as a safe haven again.
If this is the case… It was a clever move indeed by the Russians. Some would say … a judo move.
…exactly. in the so called free market economy -Trust – is the foundation of doing any business and once it is gone it means no business. sorry to say that but the US+ deserve it.
Regarding “where is the gold,” I got this response from a Moscow analyst:
“I don’t think that Russian golden reserves are stored outside the country. The Central Bank of Russia had delivered some volumes of gold to London in 2020-2021. This decision was motivated by a high price of gold at that time (near 2000 per ounce) and could hardly be initiated by Putin. If so, this decision can be qualified as very stupid or even as part of the diversionist tactic The Saker mentions in this article. I think that most of the gold delivered to London was not stored but sold and transferred into foreign currency reserves (in euro or pounds) which were frozen later.
Gold cannot be used directly for foreign currency interventions to support the ruble and in this sense it is less liquid than hard currency. The main source of support for the rubble now will be currency revenues that Russian exporters are obliged to sell at home. Moreover, the Central Bank will not conduct any more foreign currency interventions to support the dollar-euro pair which took place regularly since 2014. The goal of this activity was to weaken artificially the ruble and to accumulate the foreign currency reserves that were lost a couple of weeks ago. This was really a long-term diversionist strategy! ”
I can’t really follow this, but perhaps others can.
Is Cuba in the same boat as Russia and Iran? Will Cuba and Venezuela become part of the EAEU?
And will it turn out that corruption was at the heart of the move to expose Russian hard assets to the Empire? How would we ever know anything, given the boiling fog of Bernays Sauce ™ that swirls around everything these days?
Here is the Russian gold. “It is necessary to complete the de-dollarization of our foreign exchange reserves, replacing the dollar, euro and pound with gold. In the current conditions of the expected explosive growth in the price of gold, its mass export abroad is akin to treason and it is high time for the regulator to stop it.”
From “Blackbox defense for Russian Economy”-Sergei Glazyev latest column. What he is saying is Central bank of Russia was borrowing against it and exporting it as lein-Possibly for interest arbitrage i.e borrow low invest high.
So it was inside job. But amazing that they did not liquidate their position during the build up. Presence of such institutions inside is extremely dangerous.
“”So it was inside job. But amazing that they did not liquidate their position during the build up. Presence of such institutions inside is extremely dangerous.””
Putin has had a reality problem as well along the way. I now understand his war-making strategy and it’s wide ranging and long term consideration but he has to put down his systematic oligarchism. He has un out of evolutionary room with rentier capitalism.
Is he going all the way Russian now……
Cunningham has a decent take on this:
Uncle Sam’s British Lapdog Fetches a Bone in Gulf
“The Americans can always rely on British leaders to produce the oily words necessary to lubricate their rank duplicity and hypocrisy. Think Tony Blair as the global PR man for selling George W Bush’s fraudulent war against Iraq in 2003 and the phantom weapons of mass destruction.
The contemptible contradictions in US and British hypocrisy are so rife and flagrant that only a thoroughly abject lapdog could possibly go on such a demeaning errand.”
I would not be surprised to find out that between the secret Russian reserves in Switzerland and Switzerland Lugano’s rush to recognize Bitcoin as legal tender there is no connection.
Hello guys. Maybe someone with more expertise can investigate the validity of this?
I must say that is rather interesting…
In chronological order:
Hope it can give some leads to the enigma…
By the way, i forgot to mention, Elvira Nabiullina is for some reason not sanctioned by the Axis of Kindness. I don’t know if that means anything and i don’t want to sound like a conspiracy theorist but i am putting it out there…
Seems weird that they went full hysteria and sanctioned even VVP and his russian cats and nothing to this people that manage the assets they are after…
Where indeed is that Russian Gold? And yes it does boggle the mind as an elemental mistake. But here is a point to put things in context. There was a time as early as 2014 when the entire financial payment system INSIDE Russia could have been frozen by the west. Don’t take my word on that tho. —>
ORDER OF ECONOMIC BATTLE : 2022 – 2025
I ASIA CHINA
II East/South/Central Europe RUSSIA
III Islamic-Arab WORLD IRAN+
I North America USA/Canada
II West Europe EU
II European Island UK
Standing by are Africa and South America as “observers.”
On the location of Russian gold, two-thirds of it is in Moscow in a building on Pravda Street. One sixth of it is in St. Petersburg, and the final one-sixth is in Ekaterinburg. See the short video in Russian on Martyanov’s blog dated 15th March. Of course the Russians were not stupid enough to deposit it abroad. Look how many years it took Germany to get its gold back from the USA.
Unless someone has direct evidence to the contrary, I would be very surprised if Russia was trading in ‘paper gold’.
It looks like Nabulina, Chubias and the rest of these Traitors are on greased skids to the slammer.
Switzerland is part of the western Thugs, plundering brigade NATO countries along with the Great Satan America. they can never never be trusted. first they steal and plunder the weaker countries then they promote the corrupt leaders of third world leaders to amass and store the plundered wealth in western/Jewish Financial institutions, Almost all managed by Jews, these people will take a pound of your flesh if money is not given to them in form of debt, Loan and tons of fraudulent methods to enforce their plunder, i.e Federal reserve board, IMF, World Bank et al.
So I Guess the Russian Oligarchs, the Saudis, The Mideast petrol station state Sheiks are now sweating as the western thieves will now confiscate their wealth heaped in Swiss banks, Of course the Swiss are just a Pimp nation and are only doing the bidding of Jews and the Great Satan.
So its only sensible that the Eurasian Economic Union (EAEU) and China agreed to design the mechanism for an independent international monetary and financial system. The EAEU consists of Russia, Kazakhstan, Kyrgyzstan, Belarus and Armenia, is establishing free trade deals with other Eurasian nations, and is progressively interconnecting with the Chinese Belt and Road Initiative (BRI)…
Hopefully the US dollar will not be worth the toilet paper it’s printed on; China is as much a Eurasian power as Russia, and will soon bypass the US unipolar system.
The Eurasian system will be based on “a new international currency,” most probably with the yuan as reference, calculated as an index of the national currencies of the participating countries, as well as commodity prices. The first draft will be already discussed by the end of the month., it will become a serious alternative to the US dollar, as the EAEU may attract not only nations that have joined BRI (Kazakhstan, for instance, is a member of both) but also the leading players in the Shanghai Cooperation Organization (SCO) as well as ASEAN. West Asian actors – Iran, Iraq, Syria, Lebanon – will be inevitably interested.
One of the most disturbing things for America should be that Saudi Arabia is considering accepting Chinese yuan – and not US dollars – for selling oil to China, Beijing told Riyadh this is the new groove. The end of the petrodollar is at hand – and that is the certified nail in the coffin of the dying west