RT – July 25, 2018: In this episode of the Keiser Report, Max and Stacy discuss a claim, by the IMF’s former guy in Russia, that there ‘will never be a debt crisis’ with the country’s current economic team in charge. They look at the classical liberal policies adopted by the Central Bank of Russia and how & why it has provided stability during the ruble crisis of 2014-2015. In the second half, Max interviews author and banker, Chris Whalen, about Trump’s trade war, tax cuts and economic policies.
(BattleForWorld: So all these years of United States sanctioning Russia hasn’t done anything detrimental to the country. It appears that Russia uses its money wisely and does not waste it, and the oligarchs are not allowed to steal it and bank it in the west.)
Why Russia Is Growing Gold Reserves to Record Levels
SPUTNIK NEWS – July 25, 2018: Fresh Russian Central Bank data shows that Moscow bought some 106 tons of gold since the start of 2018, with total reserves now approaching the 2,000 metric ton mark. News of the buy-up comes after a confirmation by the US Treasury Department that Russia dropped out of the top holders of US bonds.
According to Russian Central Bank figures, Russia’s total gold reserves amounted to 1,944 tons as of June 2018, with the regulator pointing to a steady rise in holdings of the precious metal over the last decade (total gold reserves amounted to less than 500 tons in 2008). In the same period, the share of gold in Russia’s total reserves grew from just 2.5 percent to over 17 percent.
Last week, the US Treasury confirmed that Russia had undertaken a large-scale dumping of its T-bills, bonds and notes, with holdings falling from $92 billion in December 2017 to just $14.9 billion now, thereby pushing Russia out of the top 33 major holders of US securities.