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The following piece by Dmitry Kalinichenko for Investcafe.ru suggests that Putin is using manipulated gold and energy prices to combat Western powers. Putin’s response to the West resembles both chess and judo, when the strength used by the enemy is used against him, but with minimal costs to the strength and resources of the defender. This comes on the heels of Russia’s central bank Governor Elvira Nabiullina telling the lower house of parliament about recent significant Russian gold purchases of roughly 150 metric tons. She is an economist, head of the Central Bank of Russia and was Vladimir Putin’s economic adviser between May 2012 to June 2013.
originally posted by: Merinda
I dont get the article. How is buying lots of gold anything but a reaction to going towards incertainity and instability?
Without the USD monopoly on global oil prices the USA cannot sustain it current level of dept/spending and will collapse, and fairly shortly at that. When it does, the BRIICS nations are already in place to "fill the void" with gold backed Renminabi.
originally posted by: ElohimJDThe Renminabi is gold backed currency!
originally posted by: CharlieSpeirs
a reply to: Merinda
150 tonnes of Gold would actually be a stabilising effect on a falling Ruble.
Precious Metals will always surpass paper & digital numbers.
That's where the true uncertainty & instability comes from.
British scientists have successfully come to the same conclusion, as was published in the Conclusion of the U.S. Geological survey a few years ago. Namely: Europe will not be able to survive without energy supply from Russia. Translated from English to any other language in the world it means: “The world will not be able to survive if oil and gas from Russia is subtracted from the global balance of energy supply”.