Why did they start to export gold from Russia


Russian the economy hard times ahead. The fact that the ship began to slowly sink is always easy to understand from the behavior of rats, quietly living in its hold, and then rapidly leaving it at the first leak.


The fact that things at our “gallery” are bad can be judged by the behavior of the backbone banks of the country, which embarked on an accelerated export of gold from Russia to London. Apparently, their leadership "knows something."

Since the sanctioned 2014, domestic media has been full of constant reports of an increase in the gold reserves of the Russian Federation. The Central Bank continuously bought up precious metal, increasing its reserves, which could only be welcomed. Our country confidently moved into fifth place in the world in the ranking of the largest gold holders and could well move to fourth in the next 2-3 years.

However now this indisputable financial policy put an end to. March 30, the leadership of the Central Bank decided to suspend the purchase of yellow metal in the domestic market, saying that further actions will depend on the market situation.
Instead of buying up the most reliable asset, the mega-regulator began selling it abroad, and not somewhere, but to London. In the first two months of 2020, precious metal exports increased by 700% compared to the same period in 2019. The trend is alarming.

But now the largest banks with state participation have followed the example of the Central Bank. Sberbank sold 5,5 tons of gold to the UK, Promsvyazbank - 4,6 tons. Gazprombank got rid of almost 6 tons of precious metal. VTB turned out to be the "leader", which sold 9 tons of gold to the British. In order to understand the scale of the “attraction of unprecedented generosity”: Sberbank has only 17,3 tons of gold left in the vaults, and 45 tons at VTB.

Why does this happen?

What else can they do? The Russian economy is on the verge of a real collapse. The federal budget is more than a third dependent on oil and gas exports. The Oil War was lost in just one month with a bang of some Saudi Arabia. Sechin’s plan to completely destroy American shale failed. Surrender to Riyadh will entail restrictions on the extraction of raw materials 4 times greater than at the beginning of March, so even returning oil quotes to an acceptable level will no longer help rectify the situation.

The “brilliant” strategy of Gazprom’s management also led to logical results. Nord Stream 2 is frozen indefinitely. The monopolist continually gets money in European courts. The expected new lawsuit from Ukraine for $ 17,3 billion in general may leave the company without working capital, about which we detail told earlier. The budget will soon begin to crack at the seams, and the NWF reserves are not infinite.

Well, the “witty idea” of President Vladimir Putin to introduce a tax on interest on bank deposits during the coronavirus pandemic clearly did not add the confidence of Russians in the banking sector. So is it any wonder that the leadership of state-owned banks began to rapidly withdraw gold abroad? Apparently, they are guessing about something there.
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  1. Rus Offline
    Rus April 10 2020 11: 33
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    The middle class probably began to withdraw gold!
    1. A.Lex Offline
      A.Lex (Secret information) April 11 2020 20: 50
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      Dimochka, so QUARANTINE SAME!
    2. Vladimir Tuzakov (Vladimir Tuzakov) April 12 2020 12: 45
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      Yes, and the Central Bank of the Russian Federation is an independent enterprise, and the available 2,2 thousand tons of gold can go on fake deals, and liberals know how to do this and have experience robbing Russia ...
  2. steelmaker Offline
    steelmaker April 10 2020 11: 34
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    Well done! Putin fans often need to poke their shit like a cat into a photograph. Maybe it will reach them until 2024?
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    2. The comment was deleted.
    3. rotkiv04 Offline
      rotkiv04 (Victor) April 10 2020 17: 07
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      Will not reach. Fans and fans that do not think with their head, but believe in their god.
    4. Rus Offline
      Rus April 10 2020 20: 30
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      This is their job, they get paid for it! I have no such individuals at work and from my friends! Where do they get them from? Maybe the raiders work out?
      1. A.Lex Offline
        A.Lex (Secret information) April 11 2020 20: 51
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        laughing laughing laughing Where do you, Dimochka, in America, have enough of your individuals.
    5. Nick Offline
      Nick (Nikolai) April 11 2020 09: 17
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      Quote: steel maker
      Well done! Putin fans often need to poke their shit like a cat into a photograph. Maybe it will reach them until 2024?

      You’d better go to open-hearth. Homeland would be useful. The pitcher was found. See to yourself not to get drunk on the ears.
  3. T. Henks Offline
    T. Henks (Igor) April 10 2020 11: 43
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    Wonderful comments. According to this logic, oil and gas do not need to be sold anywhere. How does gold differ from other goods? Like, a dog in the hay. I'm going to re-read Lope de Vega.
    1. Nick Offline
      Nick (Nikolai) April 10 2020 12: 33
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      Quote: T. Henks
      Wonderful comments. By this logic, oil and gas need not be sold anywhere. How does gold differ from other goods? Like, a dog in the hay. I'm going to re-read Lope de Vega.

      The author has repeatedly proved his incompetence in those topics on which he writes his articles. He is silent or, most likely, does not know that gold is sold at market prices, which by the end of 2019 have substantially increased, and the average price for the year in 2019 is higher, for example, the 17th price is $ 4356 per kg . Buy when it's cheap, sell when it's expensive - the main principle of exchange trading. But the author does not know about this. request
      And one more thing, no one is selling Gold from the gold reserves of the Russian Federation. Excess gold miners are sold.
      1. Monax Offline
        Monax (Hermann) April 10 2020 12: 47
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        I will subscribe to these words! And saboteurs and clicks - overboard!
        1. Marzhecki Online
          Marzhecki (Sergei) April 11 2020 07: 42
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          Then you will answer together. smile
          1. Nick Offline
            Nick (Nikolai) April 11 2020 08: 15
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            Quote: Marzhetsky
            Then you will answer together smile

            You have already been answered.
      2. nikolaj1703 Offline
        nikolaj1703 (Nikolai) April 10 2020 13: 16
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        They are buying up cheaper shares of Russian companies (fallen angels) so that they become nationalized, and new deductions to the budget in the form of dividends, excluding the export of capital from the country.
        1. A.Lex Offline
          A.Lex (Secret information) April 11 2020 20: 54
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          Oh, Nikolai, if only it were true !!!!!!!!!!!
      3. Kristallovich Offline
        Kristallovich (Ruslan) April 10 2020 13: 19
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        Excess gold miners are sold.

        Have you invented it yourself?
        1. Nick Offline
          Nick (Nikolai) April 10 2020 13: 34
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          Quote: Kristallovich
          Excess gold miners are sold.

          Have you invented it yourself?

          I read on RBC:

          As Reuters explained the head of the Union of Gold Producers of the Russian Federation Sergey Kashuba, gold miners are now exporting precious metals through banks, and not themselves, as they are waiting for a government decision on the possibility of obtaining a general export license in exchange for current one-time permits.

          Polymetal and Yuzhuralzolot told RBC that most of the gold produced in Russia was sold to banks inside Russia. The Pole declined to comment.

          At the end of 2019, the reserves of precious metals in the vaults of Russian banks reached a record high over the past five years - over 92 tons in gold equivalent, Kommersant wrote. "

          Read more at RBC:

          https://www.rbc.ru/economics/28/02/2020/5e57904a9a79479d2346177a
          1. Kristallovich Offline
            Kristallovich (Ruslan) April 10 2020 13: 47
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            Something I do not see a word about "surplus" ...
            1. Nick Offline
              Nick (Nikolai) April 10 2020 14: 00
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              Quote: Kristallovich
              Something I do not see a word about "surplus" ...

              I called the surplus the amount of gold that is not in demand on the Russian market. You develop a brain. You don’t catch the point of the article, your whole understanding has come down to the fact that the word “surplus” is missing in the article, but I’m a bit about the other.
              1. Kristallovich Offline
                Kristallovich (Ruslan) April 10 2020 14: 58
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                Miners sell gold, because it is now profitable to sell it, and it is precisely abroad. For the purchase prices of the Central Bank are completely different. And the point here is not at all in “excesses”.
                1. Nick Offline
                  Nick (Nikolai) April 10 2020 16: 29
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                  Quote: Kristallovich
                  Miners sell gold, because it is now profitable to sell it, and it is precisely abroad. For the purchase prices of the Central Bank are completely different. And the point here is not at all in “excesses”.

                  It can be said in another way - part of a product that has not found an internal consumer.
                2. 123 Offline
                  123 (123) April 10 2020 16: 53
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                  Why did you cram the cons? belay Okay, it’s clear with Nikolai that they don’t like the truth, they’re nervous, I’m often not restrained in speeches, for which I’m raking, but are they for what? what Just a herd ran and without looking, the whole field "marked"? winked
              2. nov_tech.vrn Online
                nov_tech.vrn (Michael) April 10 2020 17: 18
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                Add, banks are selling, this is not the gold reserve of Russia, but the gold and foreign exchange savings of banks. And now how not to recall about the abolition of the constitutional article that the Central Bank of Russia is not state?
                1. Nick Offline
                  Nick (Nikolai) April 10 2020 22: 20
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                  Quote: nov_tech.vrn
                  how now not to recall about the abolition of the constitutional article that the Central Bank of Russia is not state?

                  For this, I hope, we will vote soon.
                2. The comment was deleted.
                3. Warrior Offline
                  Warrior April 10 2020 23: 45
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                  The Central Bank has a completely different status and it cannot be a private bank ... read carefully the Constitution of Russia.
      4. Marzhecki Online
        Marzhecki (Sergei) April 11 2020 07: 44
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        To any normal person, unlike you, it is obvious that my pessimistic estimates and forecasts are the most accurate. Which is repeatedly confirmed by practice. The question to you personally is, what about the OPEC + deal? Putin again outplayed everyone, right?
        1. A.Lex Offline
          A.Lex (Secret information) April 11 2020 20: 57
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          Here (as you say, Sergey) and see!
        2. Ser sash Offline
          Ser sash (Ser Sash) April 11 2020 21: 18
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          Not a supporter of the authorities, but I agree with the results of the transaction.
          Everything was there as it should have been.
        3. Badger Offline
          Badger (Dmitriy) April 15 2020 11: 06
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          Your estimates, this is complete bullshit, suitable for the stupid and liberals!
  4. 123 Offline
    123 (123) April 10 2020 12: 51
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    The fact that things at our “gallery” are bad can be judged by the behavior of the backbone banks of the country, which embarked on an accelerated export of gold from Russia to London. Apparently, their leadership "knows something."

    If you follow this logic, it turns out that until recently, "their galleys" confidently went to the bottom. What happened to their rats? They strangled?

    The Russian economy is on the verge of a real collapse.

    And "their" economy is booming? Confidently and inevitably developing at an unprecedented pace?
    I believe that the idea that gold can be bought up in one’s own reserves, thereby raising the price at the peak of which one can start selling it, could be beneficial for a country, one of the largest gold producers, didn’t come to your mind?
    Moreover, times are difficult, there is a need to use reserves. A crisis has come, now they will buy up cheaper assets, they will need currency, but not buy gold for gold.
    Maybe you should dive into the pool under the Bee Rock? Only take off the headset, it’s a pity if you damage it. smile

  5. gorenina91 Offline
    gorenina91 (Irina) April 10 2020 12: 57
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    ... the “witty idea” of President Vladimir Putin to introduce a tax on interest on bank deposits during the coronavirus pandemic clearly did not add Russians' confidence in the banking sector.

    - Personally, I have already spoken out quite extensively on this subject ...
    - I can also add that all this will not only not add "Russian confidence in the banking sector"; and it won’t add to the confidence of the Russians in the guarantor itself ... - What if tomorrow, for some “ingenious considerations”, a “next offer” comes in ... - and with the amount of depositors that will exceed 500 (000; 300 and etc.) rubles ... - also carry out any "fiscal manipulations" ... -here without comment ...

    The “brilliant” strategy of Gazprom’s management also led to logical results. Nord Stream 2 is frozen indefinitely.

    - It's clear ... like a day ... the same thing with the "Turkish stream" ... - And also complete darkness and with the "Power of Siberia" ...

    In the first two months of 2020, precious metal exports increased by 700% compared to the same period in 2019. The trend is alarming.

    - It’s also alarming ... - Personally, I already wrote about Russian gold, which is like bars of delicious chocolate in gilded foil; which can melt (be eaten) very quickly ...
    - And then ...- no matter how you say, the word chocolate (or halva) in the Russian population in their mouths (under gauze masks) will not become “tastier” ...
    - The author of the topic - my pluses ...
    1. Igor Pavlovich Offline
      Igor Pavlovich (Igor Pavlovich) April 10 2020 14: 54
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      The “ingenious” strategy of Gazprom’s management

      - Gazprom’s management has never made strategic decisions ... and tactical ones too ...
      1. Monster_Fat Offline
        Monster_Fat (What's the difference) April 10 2020 16: 18
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        These are not the consequences of the brilliant strategy of any one Gazprom there - these are the consequences of the strategy of the whole Lake cooperative and their former guardians from the "organs" - which built all this time the "raw material superpower" and an economy oriented towards selling everything to foreign markets , based on external investments - that is, an economy such as: "snatched-sold, profit hobbled." But the Russians do not despair - Putin - their president forever - "only win with him! Rally together!". laughing
        1. Warrior Offline
          Warrior April 10 2020 23: 41
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          And what do you dislike about Putin ... maybe you have a better candidate? Putin does not like only the ENEMIES of Russia and the Russians ....
          1. Marzhecki Online
            Marzhecki (Sergei) April 11 2020 07: 47
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            All alternative candidates are cleaned up by Putin himself and his team. Do you know what stoplists are on the federal media?
    2. nov_tech.vrn Online
      nov_tech.vrn (Michael) April 10 2020 17: 26
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      Irina, you still forgot about the tax on the export of money abroad, it was "the greatest achievement of democracy", however, in no developed country in the world did you practice, of the largest only in Russia, the dream of financial speculators. "Speculators" is not a curse here, but a purely banking term.
      1. gorenina91 Offline
        gorenina91 (Irina) April 10 2020 17: 55
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        Irina, you

        Why are you poking ??? Contact normally, then they will answer you ...
    3. The comment was deleted.
  6. radiootdel4 Offline
    radiootdel4 (Vladimir) April 10 2020 16: 20
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    Again torn the economy to shreds. Author, change the record.
  7. radiootdel4 Offline
    radiootdel4 (Vladimir) April 10 2020 16: 24
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    I look, the liberda howled - Putin introduced a tax for the rich. Ah, how bad. So in other European countries such a tax has always been and always is. Why don’t you moan ....
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    2. Warrior Offline
      Warrior April 10 2020 23: 34
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      That is, the Russian liberals howled, who made their money from betraying Russia and the Russians ... Putin stressed in his address that 13% would be taxed on the profit from deposits in the amount of 1 million rubles, and not the deposits themselves .... that is incomes will be taxed, as is being done all over the world ... and in Russia itself from the working people, because the Russian rentier is no exception.
    3. Marzhecki Online
      Marzhecki (Sergei) April 11 2020 07: 48
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      That is, 1 million rubles is wealth? A salary of 17 p. Is this the middle class? Oh well.
      1. Evgeny Popov Offline
        Evgeny Popov (Evgeny Popov) April 12 2020 19: 42
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        How is salary related to deposit volume? With a salary of 17000, you can’t accumulate such a contribution, therefore for such 1 million - wealth. If you can store 1 million, then it’s well provided for itself.
      2. Badger Offline
        Badger (Dmitriy) April 15 2020 11: 09
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        If you work, and not groan, then you will earn much higher than 17 thousand.
    4. A.Lex Offline
      A.Lex (Secret information) April 11 2020 21: 03
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      Vladimir, they are not paid for it.
  8. gardenstyle Offline
    gardenstyle (Sergey Gorovoy) April 10 2020 16: 40
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    The price of gold is at its peak, so part of its stock is being sold to lock in profits. As soon as the gold deficit in foreign central banks ends, the price will go down and purchases will be resumed again. The one who wrote this article does not understand how the precious metals market works.
  9. King3214 Offline
    King3214 (Sergius) April 10 2020 23: 31
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    Banks around the world will die, and even gold will not save these "dwarves".
    They are not needed in the new reality.
  10. Aleksandr2020 Offline
    Aleksandr2020 (Alexander Vk) April 11 2020 03: 16
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    The author is either a complete zero, or intentionally lies, and constantly. No one is selling the gold reserve anywhere.
    He may not know, but Russia is one of the largest gold miners and occupies the 3rd place in gold mining in the world.
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  12. Marzhecki Online
    Marzhecki (Sergei) April 11 2020 07: 39
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    Quote: Nick
    Quote: T. Henks
    Wonderful comments. By this logic, oil and gas need not be sold anywhere. How does gold differ from other goods? Like, a dog in the hay. I'm going to re-read Lope de Vega.

    The author has repeatedly proved his incompetence in those topics on which he writes his articles. He is silent or, most likely, does not know that gold is sold at market prices, which by the end of 2019 have substantially increased, and the average price for the year in 2019 is higher, for example, the 17th price is $ 4356 per kg . Buy when it's cheap, sell when it's expensive - the main principle of exchange trading. But the author does not know about this. request
    And one more thing, no one is selling Gold from the gold reserves of the Russian Federation. Excess gold miners are sold.

    You are not quite an adequate person, judging by your comments. You cherished me in the same way when I wrote a week before the events that Russia would agree to the conditions of Saudi Arabia for oil. And so it happened. Do not disgrace yourself better.
    1. Evgeny Popov Offline
      Evgeny Popov (Evgeny Popov) April 12 2020 19: 33
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      There are other points of view, quite justified, in contrast to your "everything is lost," the depth of which is no further than your own nose.
      According to the initial plan, it was significantly less in absolute figures, but this amounted to 35% of the total number of cuts at OPEC + in the amount of 1.7 million and was clearly not enough to solve the problems. They would cave in then - they would push further. It was ordinary blackmail, followed by the next. Now other participants have been drawn into the process, and with the same SA we will produce the same volume.
  13. Marzhecki Online
    Marzhecki (Sergei) April 11 2020 07: 39
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    Quote: Aleksandr2020
    The author is either a complete zero, or intentionally lies, and constantly. No one is selling the gold reserve anywhere. He may not know, but Russia is one of the largest gold miners and occupies the 3rd place in gold mining in the world.

    Zero? Lie constantly? You poke a face in your comments about oil?
  14. 17085 Offline
    17085 (Dmitriy) April 11 2020 08: 35
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    Buying gold when the price is especially high? It must be sold and invested in interesting assets whose prices have fallen, for example, shipping and air companies.
    Sechin's plan? It is not the Saudis dropped the price of oil to a quarter? These are not millions of migrant workers who have left their territory?
    Marzhetsky, it’s unfortunate for you, for the dill, it’s pale and stupid, it’s not there for you ... and you’ve burned your "brother".
    1. Ser sash Offline
      Ser sash (Ser Sash) April 11 2020 21: 16
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      Victims of propaganda. Almost no one knows the reasons for the refusal of the transaction in March, when you try to explain that the conditions were unacceptable and succumbing to blackmail is fraught with the following blackmail. One conclusion - we must agree to any conditions, they will still break us.
  15. Sergey Rash Offline
    Sergey Rash (Sergey Rash) April 11 2020 13: 40
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    Why is this happening? Because in the world values ​​will change. Gold is just metal. The proceeds will be spent for it on the daily basis.
    There will be no money at all soon, but all the gold will be poured into one large monument - 2020, for example, reminiscent of the date of the insight of Mankind!
  16. sgrabik Offline
    sgrabik (Sergei) April 11 2020 18: 29
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    The author is a complete amateur, or a paid liberal, deliberately escalating the horror !!!
    1. Netyn Offline
      Netyn (Netyn) April 11 2020 22: 37
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      Yes, everyone has long understood this.
  17. Owl Offline
    Owl (Philip) April 12 2020 07: 37
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    Not “rats” living quietly in the hold, but “oligarch friends” ...
  18. BambrSV Offline
    BambrSV (Eugene) April 12 2020 07: 44
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    drinks Well, now everything is definitely gone and we all die ... drinks
  19. Alexey Oshchepkov (Alexey Oshchepkov) April 12 2020 12: 41
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    I have formed excess gold. Urgently need to get rid, pull your pocket. laughing
  20. Badger Offline
    Badger (Dmitriy) April 15 2020 11: 00
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    I drove the blizzard to the ears of fools and liberals, here they are in joy!