“De-Dollarization” Deepens: Russia Buys Most Gold In Six Months, Continues Selling US Treasuries

Tyler Durden
ZeroHedge.com
01/18/2015

The rumors of Russia selling its gold reserves, it is now clear, were greatly exaggerated as not only did Putin not sell, Russian gold reserves rose by their largest amount in six months in December to just over $46 billion (near the highest since April 2013). It appears all the “Russia is selling” chatter did was lower prices enabling them to gather non-fiat physical assets at a lower cost. On the other hand, there is another trend that continues for the Russians – that of reducing their exposure to US Treasury debt. For the 20th month in a row, Russia’s holdings of US Treasury debt fell year-over-year – selling into the strength. It would appear the greatest rotations that no one is talking about are the fiat to non-fiat and the paper to physical shifts occurring in China and Russia.

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This entry was posted on Sunday, January 18th, 2015 at 4:23 pm and is filed under Economics, New World Order, World Politics. You can follow any responses to this entry through the RSS 2.0 feed.