(Bloomberg) — A multi-year drive to reduce exposure to U.S. assets has pushed the share of gold in Russia’s $583 billion international reserves above dollars for the first time on record. Gold made up 23% of the central bank’s stockpile as of the end of June 2020, the latest date for which data on the breakdown is available, according to a report published late Monday. The share of dollar assets dropped to 22%, down from more than 40% in 2018.
The shift is part of a broader strategy outlined by President Vladimir Putin to “de-dollarize” the Russian economy and lower its vulnerability to U.S. sanctions amid deteriorating relations with Washington. Gold is now the second-biggest component of the central bank’s reserves after the euro, which makes up about of a third of total assets. About 12% of the stash is in yuan.
OBTW ... Gold has gone up about $100 / ounce the past week. Floating at around $1900 / oz. USD. Figure out the gain for the 2400 tons of gold that Putin has.
I know all about that remark and the context of it, too.
I have to agree. But you and everyone else are trying to conflate "genius" with approval for his actions. That is a no go. . It is the timing, and as some of us know timing is everything. The same team is in the WH as when he took Crimea. Duh. He has Europe by the balls short hairs with their dependence on his petroleum products. All that everyone in the West does is talk about the things that they will do, but never actually do. Hell with Biden's energy policy, we now get something like 10% of our oil from Russia now, too. Thanks, toe to toe Joe ! From energy independent to helping finance Putin and his evil ways.
We're a bunch of pussies and Putin knows it. No one wants to do the right thing and stop importing his petroleum because it will cost us more. I heard that the Italians wanted a carve out for allowing Russia to still buy their luxury goods when sanctions were being discussed. Germany has been the most reluctant, for obvious reasons.
I don't pretend to know what Putin's end game is, but his timing is perfect as in now or never. Xi has his back and Taiwan is next.
Oh, and Biden IS Xi's bitch. We've seen the receipts. Bye, bye, Taiwan.
Is there any chance one of Putin's own might take him out ? There must be some around him thinking this thru. I would have expected Putin to be fronting up to the media surrounded by lots of tough looking guys with tons of color on their chests and crazy hats by now. Maybe camera shy ?
Is there any chance one of Putin's own might take him out ?
There must be some around him thinking this thru.
I would have expected Putin to be fronting up to the media surrounded by lots of tough looking guys with tons of color on their chests and crazy hats by now.
Maybe camera shy ?
Satellite images on Sunday showed a 3.25-mile long deployment of Russian forces advancing toward Kyiv.
Sounds like about a brigade or regimental combat team... 4,000 to 6,000 troops. The Russians operate two types of division, to which regiments/brigades are subordinated:
In the immediate future, Russia is dangerous beyond compare. Putin is a rabid dog. But like all rabid dogs the danger that he represents, if it is not realized in the near future, has a relatively short shelf life. Russia is on a course to exhaust itself in almost every way possible and, once exhausted, will not be able to sustain the danger that it threatens today.
The real danger to the world order is China. Perhaps you have forgotten that during the Olympics, we saw pictures of the Xi Jin Ping alone, watching the ceremonies. And juxtaposed with the view of Xi was a view of Putin alone, watching the ceremonies. No other foreign leaders were shown. Just Xi and Putin, symbolic of the lengths that these two leaders are willing to go to gain advantages for their respective countries. Make no mistake. There is no love lost between the Russians and the Chinese. And make no mistake. The Chinese will gain more from the Russians than the Russians will gain from the Chinese. A lot more.
At the moment, while the world watches the fighting in Ukraine, the Chinese are quietly tightening their grip on Asia and South America and Africa. The Russians are fielding obsolete weapons system (and already paying the price), while the Chinese are continuing to make their military the most modern, most advanced in the World. Simply put, the more Putin commands the world's attention and resources, the stronger the Chinese become.
When the dust settles from what is happening in the Ukraine—no matter who wins—China is going to emerge as a military power strong enough to take on the rest of the World, if it so desires. Within a couple of years, Chinese advances in technology and science will put the Chinese military whole levels above the rest of the world. While we divert resources and treasure to what is essentially a European crisis, China, instead of being forced to divert resources, will do just the opposite. It will increase its expenditures, in an effort to accomplish its goal of winning its perceived war without going to war. Sun Tzu is alive and well in the minds of Chinese strategists.
While we run in circles, scream and shout, pontificate and exaggerate, natter on and on about this or that, China will simply confront us with a done deal. War, even a nuclear war, simply won't be possible—Chinese technology and science will see to that.
This is Putin's real legacy: we are rapidly going past the tip-over point with China.
Kyiv mayor: reports capital surrounded by Russian forces are false
The mayor of Kyiv has said reports that the capital is surrounded by Russian forces are false.
“In the evening, Russian online publications spread information with reference to me that Kyiv was allegedly surrounded and evacuation of people was impossible,” Vitali Klitschko said in a statement. “And it is strange that Ukrainian telegram channels started to spread it… Do not believe lies! Trust information only from official sources. Together, we will stand together. Ukraine will win!”
A spokesperson for the mayor told the Kyiv Independent that Klitschko misspoke earlier Sunday, and that information about Russian troops encircling the city is “a lie and a manipulation”.
Satellite images on Sunday showed a 3.25-mile long deployment of Russian forces advancing toward Kyiv.
He's a genius (for Donnie) because by saying so, Donnie can suggest he A)recognizes intelligence, B) is a friend of the smart buy, C) is a better choice to handle him than others.
U.S. Ambassador Linda Thomas-Greenfield told the Security Council that
President Putin put Russiaâs nuclear forces on alert although he faces
no nuclear threat from Ukraine. âHe is under no threat from NATO, a
defense alliance that will not fight in Ukraine. We urge Russia to tone
down its dangerous rhetoric regarding nuclear weapons,â she said.
Trump defended labeling Putin as âsmartâ during his Saturday night speech.
I have no love for the Most Failed President Ever⢠but I think it was likely a grudging admiration, like when someone outflanks you at chess and you appreciate the move. "Oh, that was smart."
That said, anyone in the position he had/lost should have kept his damned mouth shut, since he's basically going to be misinterpreted and have it used against him. That's the kind of ham-handedness you'd expect from someone like him. All dull tools, including his brain.
I also heard last night that this excursion is costing Putin $2 billion per day and if it takes longer than 10 days, he has exhausted his allocated money for this. He is then in a corner of his own making domestically if this goes south on him. Hope he isn't one of those if I can't have it then I'll make sure that nobody has anything kinda guy and thinks about pushing the button ...
On the cancer thing, who knows. About a year ago I heard he has Parkinson's. It's all speculation.
At the very least his rant about denazifying Ukraine is pretty strange since their Prez is Jewish. Very little is making sense except that we are dealing with crazy and crazy don't follow any rules.
Stay safe and get some cash on hand in case of a cyber attack.
Trump has long spoken admiringly of Putin, and, this past week, he complimented the Russian leader during a conservative talk radio interview, saying it was âsmartâ to send âthe strongest peace force Iâve ever seenâ to the Ukraine border.
âThis is genius,â Trump said in that interview. âPutin declares a big portion of the Ukraine â of Ukraine â Putin declares it as independent. Oh, thatâs wonderful. ⦠He used the word âindependentâ and âweâre going to go out and weâre going to go in and weâre going to help keep peace.â Youâve got to say thatâs pretty savvy.â
Trump defended labeling Putin as âsmartâ during his Saturday night speech.
I also heard last night that this excursion is costing Putin $2 billion per day and if it takes longer than 10 days, he has exhausted his allocated money for this. He is then in a corner of his own making domestically if this goes south on him. Hope he isn't one of those if I can't have it then I'll make sure that nobody has anything kinda guy and thinks about pushing the button ...
On the cancer thing, who knows. About a year ago I heard he has Parkinson's. It's all speculation.
At the very least his rant about denazifying Ukraine is pretty strange since their Prez is Jewish. Very little is making sense except that we are dealing with crazy and crazy don't follow any rules.
Stay safe and get some cash on hand in case of a cyber attack.
Personally, I think it is time to get serious about supplying the Ukraine military, just as the allies supplied Russia in WWII.
Unbelievable that this is happening all over again.
Though it is very hard to know what to do.
The most favourable interpretation of Putin's strategy is that he didn't think he would meet such resistance from the west because they need his oil and assumed that once he had reoccupied Ukraine the dust would slowly settle and sooner or later trade would be restored. Russian sphere of influence and all that.
Unfortunately, I think this interpretation is increasingly unlikely.
It appears to me more likely that Putin is in fact trying to engineer a crisis where he can take on NATO head-to-head or at least try out his fancy new Zircon supersonic missiles. Maybe this was the little technological edge that has given him the confidence to take the gamble.
The stated aim of simply bringing Ukraine back into the fold is no longer credible. He obviously gives a shit about the Ukrainian people. Moreover, reabsorbing Ukraine into his definition of Russia brings him hard up against a NATO border anyway. On top of that he has just sold out his entire foreign trade business with the west for the sake of what? national pride? Staying in power domestically? Securing the Crimea? Very, very high stakes game if he's only pursuing those objectives. And even if he manages to take some semblance of control in Ukraine he is going to be facing a protracted guerilla war that will make Afghanistan look like a picnic.
If this second pessimistic interpretation is the case, what are the alternative responses? 1. sit back, sacrifice our ideals, watch the Ukrainians go to the wall and wait months/years for the sanctions to bite and Putin finally falls due to domestic dissatisfaction? 2. Or do we arm Ukraine now and give them a chance to overcome the superior numbers of the Russian army to save their homeland?
What scares me most is that he has already created a scenario for Russia that will lead to local/domestic catastrophe, whatever way this plays out. And he obviously doesn't care a shit about his own people.
Or he seriously thinks he can win this and take over everything - or kill all of us trying. It certainly feels like here is a man playing for broke.
Rumour alert: a government official I know said that the word in German intelligence is that Putin has cancer.
Of course, we should start be being skeptical, since at the beginning of his term, the former guy supposedly had the real name of Drumpf, when it really it was many many generations ago. Oh, and Hillary drinks the blood of terrified children.
getting lost in all the cross-references there, but I think the Ukrainian foreign minister called it correctly that the high alert for the nuclear option is most probably a negotiating strategy and not the insane intention of someone about to die. Occams razor and all that.
