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Since the beginning of March, Russia’s gold and foreign exchange reserves have increased to nearly $370 billion.
The value of Russia’s gold reserves rose by $5.8 billion, from $381.1 billion to $386.9 billion, between March 11 and 18, according to the Russian Central Bank.
In seven day, Russia increased its gold and foreign exchange reserves by 1.5 percent. From March 1, the reserves rose by 1.7 percent, from $380.5 billion.
They include securities, foreign exchange cash, special drawing rights of the IMF, monetary gold, and a number of other assets.
In mid-December 2015, the Russian Central Bank announced that it would increase Russia’s gold reserves to $500 billion in the coming three-five years. The terms would depend on macroeconomic scenarios the government is going to implement.
Gold is considered to be a buffer against external economic risks after Russia, one of the world’s largest oil exporters, was hit by a slump in global oil prices.
Gold reserves were used by the Central Bank to support the ruble exchange rate. In November 2014, the bank allowed the ruble to trade freely and stopped spending the yellow metall. In November 2014, the value of Russia’s gold reserves reached $510.5 billion.
PUTIN IS DESTROYING THE NEW WORLD ORDER!
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Fred Herbert Bloggs Yep that’s right. That’s why Gold investors must take physical possession. Esp for long term investments. ETF’s and futures are not stable at all. I used to be looking at this a lot at one stage. Greg Hunter has a lot of people on his show who talk about Gold, like Jim Sinclair.
Fred Herbert Bloggs Russia has always had the base foundation for a large civilization. It was there before we even knew about Russia as a State. Then what was needed was a cohesive culture, a sense of national identity, the right leadership and hard working people. Prayers will be in there somewhere but i tend to focus more on the practical measures and realities that cause situations to happen, because it is impossible to measure prayers.
Fred Herbert Bloggs But i will say this…a people who act upon good principles and values are rewarded by them. Russia returning to their faith is beneficial to the nation. By comparison, the USA has departed from true faith and become decadent and lovers of Mammon. They have no God anymore.
Fred Herbert Bloggs I am a believer but even the Athiest with a brain can see that good principles have good outcomes. There is a good way of living and doing things….and there is a bad one. This is from the personal level, all the way to the national and also global level. The technology of it, is the same and does not change. It happens over and over. An empire rises because of hard work, it corrupts from within and falls.
Susannah Jane Usov Exactly, and without faith the people perish. If people see their governments as corrupt and see the politicians as corrupt – their faith is greatly diminished in their Country and their Leadership. Hence your words that it corrupts from within are on the mark.
Having an understanding of the human condition itself is key to understanding the rest and there are quite distinct thinking systems here. There is ofcourse, Social Darwinism which sees us really as an animal species with a pecking order. This system fails to address any deep purpose to life other than survival.
A faith based civilization has a different foundation because it goes a lot deeper than survival. This makes a faith based civilization a deeper thinking, philosophical and community based condition for human life. Faith based cultures are much harder to colonize than non faith based because the strength of the people is also far larger than themselves and their survival. People who have faith generally live longer. Those whose marriage is based on joint faith, last longer. Therefore faith is synonymous with perseverance, strength, endurance etc. Where the physical limitations end, the faith continues.
Even if you don’t believe in anything, simply by believing makes these things real. It is also scientifically measurable. Interpretation of this is another giant area, but it does exist.
Fred Herbert Bloggs There is a saying in the Bible about a people being Salty. The Salt of the Earth is another saying. This is basically people who have compassion and kindness. It is not a people who are hard or callous. These are not a barbaric people. America has become less Salty. Russia is more Salty.
If the culture is not Salty, it will be in decline and a nation with a cultural crisis is a nation on it’s deathbed. By this measurement, Russia is in a period of new birth, spearheaded by Putin and his team, but carried along by the Russian people.
It remains to be seen if America can have a new birth? It might? I am really not sure at this stage.