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One more sign that this has been planned, and they were prepared against sanctions, is that Russia has been growing their gold and foreign currency reserve for
by squarefoot 5y ago
One more sign that this has been planned, and they were prepared against sanctions, is that Russia has been growing their gold and foreign currency reserve for a very long time.
https://qz.com/52623/russias-government-has-become-the-worlds-largest-buyer-of-gold-driven-by-fears-of-currency-cataclysm/ https://qz.com/52623/russias-government-has-become-the-world...
https://tradingeconomics.com/russia/gold-reserves https://tradingeconomics.com/russia/gold-reserves
https://data.worldbank.org/indicator/FI.RES.TOTL.CD?locations=RU https://data.worldbank.org/indicator/FI.RES.TOTL.CD?location...
- sgjohnson 5y agoSo what? Most of their foreign reserves are frozen (as they are mostly held by foreign banks), and there’s nobody they can sell their gold to (without having to sell at a deep discount). Their $600bn paper reserves right now are probably not even worth $100bn.