Central Bank of Russia Continues to Gobble up Gold

Saturday, January 21, 2017
By Paul Martin

Russia sees gold as a “safe haven” asset

Matthew Allen
Russia-Insider.com
1/21/2017

Gold. Apparently it will be very useful when the global economy collapses, although we don’t know why — you can’t eat it, and we doubt it would be of much use as a construction material when building your post-apocalyptic lean-to.

And yet, for whatever reason — maybe because there is only a finite amount of it, and it’s shiny, and the ladies love it, and warehouses full of Chinese mainframes can’t “mine” for it — gold is a valuable commodity that emerging economies use to create confidence in their currencies (or so the theory goes).

Anyway, to make a long story short, Russia continues a long trend of gobbling up all the gold it can buy. Is this part of Putin’s plan for a “gold ruble”? No, that is fake news. But it is probably a signal that Russia is taking the threat of global economic instability and trade wars very seriously.

The Rest…HERE

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