“We’re Closely Monitoring” – Did Yellen Just Signal Gold-Grab Over Russian Sanctions Loophole?
- “We’re Closely Monitoring” – Did Yellen Just Signal Gold-Grab Over Russian Sanctions Loophole?
by Tyler Durden, https://www.zerohedge.com/
According to The IMF, Russia has around $132.26 billion of gold in its reserves, having cranked up its holdings dramatically as it de-dollarized from the USD (dumping all but a few of its US Treasury holdings in 2018)…
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As with most central bank’s reserves, the actual amount and location of those gold reserves is generally unknown or expressly hidden from public purview. As Ronan Many previously noted, Putin’s tour of a gold vault in 2011 (11 years ago) and Russian reporters visiting a gold vault in 2018 (4 years ago) are great for optics and marketing – and the Bank of Russia has been very successful in this regard – but without some hard facts about bar numbers and locational details from the Russian government and Bank of Russia, we still don’t know the true state, size and location of the Russian Federation’s gold reserves.
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