Russian central bank governor, Elvira Nabiullina spoke about Russia’s gold and foreign currency reserves on Friday saying Russia intended building them up to $500 billion in the coming years, reports GoldSeek.
She confirmed that Russia continues to see gold reserves as an important monetary asset – in her words as a “financial cushion.”
According to Russian news agency TASS, Nabiullina said: “Regarding gold and foreign currency reserves, we have the desired benchmark of $500 billion, and not in the three-year term, it could be 5-7 years and more.”Russia currently has approx, $50 billion in gold reserves.
-RW
I see this as obscene. Printed paper money for the people, gold for their rulers. Not one ounce of that gold belongs to Putin and his government cronies. Each ounce was extorted from productive people by force. If there are blood diamonds, that is blood gold.
ReplyDeleteWe want our governments to store their stolen wealth in printed pieces of paper they will debase and we can repudiate. We want only earners of wealth to store it in sound money like gold and bitcoin.