Why it is dangerous for Russia to become a major exporter of gold


According to the latest data, income from the export of Russian gold exceeded revenue from the sale of gas. Gazprom earned $ 2,4 billion in April and May, and 65,4 tons of gold worth $ 3,55 billion went abroad over the same period. This is presented as some kind of achievement, but with sound thinking it raises a lot of questions.


First of all, this “positive news"Testifies to the enormous problems of our" national treasure. " Gas consumption in its main markets is falling, and with them, prices. In May of last year, a thousand cubic meters cost $ 183,87, in May 2020 - only $ 94,4. The US is preparing a new package of sanctions against the Nord Stream-2 pipeline and the second string of the Turkish Stream. Domestic oil workers have no less problems. The situation is aggravated by the strategic decision made by the European Union to completely abandon the import of fossil fuels by 2050.

All this is happening against the backdrop of the coronavirus pandemic, which “ate” about 10% of the world over several months economics. In its consequences, this is comparable to the results of a major war. New “hot spots” appear on the map: Libya, the renewed conflict between Azerbaijan and Armenia, border clashes between India and China. In this situation, many states prefer to ensure their financial stability through the purchase of the main protective asset - gold. Its price is growing, according to some estimates, it can reach $ 3000 per ounce.

In such a global context, big questions are raised by the updated policy TSB RF. If earlier the Central Bank successfully accumulated its gold reserve, bringing it to the fifth in the rating of the largest holders of precious metals, now the management of the regulator has “opened the gateways”, and gold has flowed abroad. Last May, the Central Bank introduced for itself a discount on the purchase of refined gold, “creating the prerequisites for the formation of the domestic market”, and limited its purchase. Yellow metal flowed thinly from Russia abroad to London. On April 1, 2020, the mega-regulator completely stopped buying precious metals. Now, the leadership of the Central Bank began to sell gold. This ambiguous solution is argued as follows.

At first, it is argued that this will compensate for shortfalls in oil and gas revenues. True, even unbiased economists admit that it will be possible to replace no more than 10%.

Secondlyas they say, in the budget there is simply “no money” for the purchase of precious metals due to a trade balance close to negative. It is believed that printing rubles for the acquisition of gold will lead to inflation. For some reason, it is not said that inflation can be fought.

Thirdly, top managers of the Central Bank are allegedly afraid of a “bias in favor of gold” in their gold and foreign exchange reserves. By the way, the share of gold in them is only 20%.

Of course, such explanations also have a right to exist, but they somehow sound not very convincing. Now around the world actively buying up gold, silver, "metal paper", shares of technology corporations. Everyone is afraid of global inflation and invests in protective assets. For some reason, we stand apart. Among other things, there are risks that it is not customary to seriously talk to a wide audience.

There is a “conspiracy” theory that the dollar, as an international unit of account, can simply cease to exist. Moreover, this may happen not because of the “collapse of the USA”, but man-made, by the American authorities themselves. Today in the United States there is a fierce struggle between the so-called "imperials", which is represented by Donald Trump, and the "globalists" in the face of the Democrats and the supranational financial elites behind them. The US Federal Reserve System (FRS), owned by private banks, is the deadly enemy of sovereign America, which President Trump is trying to build. The chance of peacefully dismantling this private machine, on which dollars are printed, is practically impossible. No matter how wild it may sound, almost the only way to get rid of the Federal Reserve is to “re-reorganize” the USA itself, which is quite realistic if the next version of the civil war occurs, the prerequisites for which are hard to miss. About one of these scenarios, we detail told earlier.

As a result, the dollar, the brainchild of the Fed, in the form as we know it, can cease to exist, and in its place - come a new American currency, possibly secured by gold or otherwise. Then this precious metal will cost completely different money than now. Of course, this is only one of the hypothetical scenarios, events can develop in various ways. But the ever-increasing sale of yellow metal abroad hardly meets the national interests of our country.
Photos used: Jiaqian AirplaneFan / wikimedia.org
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17 comments
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  1. Sergey Latyshev Offline
    Sergey Latyshev (Serge) 16 July 2020 14: 22
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    Achievement as an achievement. Money doesn't smell.
  2. 123 Offline
    123 (123) 16 July 2020 14: 44
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    To listen to you, it’s generally dangerous for Russia to receive money. Now, about getting off the "golden" needle, nagging will begin?
  3. Nikolay Malyugin (Nikolai Malyugin) 16 July 2020 17: 02
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    To sell - one must also be able to. If successful, then why not.
  4. The comment was deleted.
  5. Sergey39 Offline
    Sergey39 (Sergei) 16 July 2020 18: 01
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    Gold is a commodity. First they raised the price, now it's time to sell. And gold is not sold from the bins of the Central Bank, but newly mined. The price will drop - they will buy again. Do it right.
  6. gorenina91 Offline
    gorenina91 (Irina) 16 July 2020 18: 41
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    Why it is dangerous for Russia to become a major exporter of gold

    “It's not just dangerous; but very, very dangerous ...
    - Americans through the Central Bank of the Russian Federation are not a state entity and belong to ... the USA ... is a branch of the US Federal Reserve ... - And the Americans created it under Yeltsin ...
    - And today, when the dollar needed solid reinforcement ... - the Americans began to "pit" (sell) Russian gold for "their needs" ... - for this the "price bar" for gold was raised ... - And expensive now gold, or not very expensive ...- for Russia this is not the point ...; because having its gold in the Central Bank of the Russian Federation ...- Russia formally cannot dispose of this "own gold" ... - Well, here ...- today Russian gold thus "supports" (saves) ... the dollar ...
    - But from the outside it looks like this ...- Russia supposedly "surrenders" its gold; and acquires paper dollars ... - That's all ...
    1. Vladimir Tuzakov (Vladimir Tuzakov) 16 July 2020 20: 25
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      As everything is one-sided, you read the comments of Gorenin91, and you see the ultimate goal of these comments - to depict everything the other way around, to be misleading, to make mistakes. This has a definite name: the action of a foreign agent ...
  7. Alexzn Offline
    Alexzn (Alexander) 16 July 2020 18: 47
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    Ordinary situation. The percentage of gold in gold reserves determined by law has already been reached; the price of gold is quite high - why not sell it? Gold is indeed a commodity, like any other, intended for sale. Revenue in foreign currency does not hurt at all under the prevailing conditions, when it comes to using reserves to cover losses from the coronavirus crisis.
  8. Alexzn Offline
    Alexzn (Alexander) 16 July 2020 18: 53
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    About dismantling the Fed - amused. This is what kind of idiot you have to be in order to cancel the system on which you can parasitize? It is akin to offering Russia to abandon oil in order to become rich, like the Japanese or the Swiss.
    1. 123 Offline
      123 (123) 18 July 2020 10: 17
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      About dismantling the Fed - amused. This is what kind of idiot you have to be in order to cancel the system on which you can parasitize? It is akin to offering Russia to abandon oil in order to become rich, like the Japanese or the Swiss.

      Here you have compared. laughing It will be boring - come in the winter in the fresh air to "parasitize" a little. yes
      The oil industry is no worse than other industries.
  9. Alexzn Offline
    Alexzn (Alexander) 16 July 2020 18: 58
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    Quote: gorenina91
    Why it is dangerous for Russia to become a major exporter of gold

    “It's not just dangerous; but very, very dangerous ...
    - Americans through the Central Bank of the Russian Federation are not a state entity and belong to ... the USA ... is a branch of the US Federal Reserve ... - And the Americans created it under Yeltsin ...
    - And today, when the dollar needed solid reinforcement ... - the Americans began to "pit" (sell) Russian gold for "their needs" ... - for this the "price bar" for gold was raised ... - And expensive now gold, or not very expensive ...- for Russia this is not the point ...; because having its gold in the Central Bank of the Russian Federation ...- Russia formally cannot dispose of this "own gold" ... - Well, here ...- today Russian gold thus "supports" (saves) ... the dollar ...
    - But from the outside it looks like this ...- Russia supposedly "surrenders" its gold; and acquires paper dollars ... - That's all ...

    How much stupidity in a small post. You are not confused by the complete lack of logic and that ALL the theses put forward are in complete contradiction between themselves, which is already there, they are simply absurd.
    1. gorenina91 Offline
      gorenina91 (Irina) 16 July 2020 19: 45
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      How much nonsense in a small post

      - Personally, I do not need your assessments ... And personally, I ... personally about you - far from a better opinion ...
      1. Oyo Sarkazmi Offline
        Oyo Sarkazmi (Oyo Sarkazmi) 17 July 2020 14: 25
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        Quote: gorenina91
        Personally, I do not need your ratings ...

        If you didn’t need it, you wouldn’t write. While sleeping, some lazy person had to puff off for you - in one phrase ...
  10. Alexzn Offline
    Alexzn (Alexander) 16 July 2020 20: 53
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    Quote: gorenina91
    How much nonsense in a small post

    - You are about the "stupidity" ... bite your tongue, hold, tie ...
    - Personally, I do not need your assessments ... And personally, I ... personally about you - far from a better opinion ...

    I wrote in polite form that the post was stupid and did not write at all that I was thinking about you, all the more in a loose form. If you don’t understand anything about the subject you are writing about, maybe you should not write?
  11. Oyo Sarkazmi Offline
    Oyo Sarkazmi (Oyo Sarkazmi) 17 July 2020 14: 23
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    Russia produces 180 tons of gold per year. 60 sold. Where is the rest?
    The answer is clear: Putin folded it under the bed.
  12. gorenina91 Offline
    gorenina91 (Irina) 17 July 2020 15: 09
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    - In other words ... - Russia simply buys out American "minuses", paying with its Russian gold ... -Such things ...
  13. boriz Online
    boriz (boriz) 17 July 2020 19: 36
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    https://www.vedomosti.ru/business/news/2020/07/14/834517-dohodi-ot-eksporta-zolota-obognali-viruchku-ot-prodazh-gaza

    Income from the sale of gold exceeded revenue from the sale of gas.
    The "budget rule" agreed upon under Yeltsin does not apply to money from gold sales, as to oil revenues. This money can be sent entirely to the country's economy. And, given that oil prices are now on the verge of applying the budget rule (this is $ 42), the IMF has long been not receiving investments in other people's securities from us automatically.
    How much gold the Russian Federation has, only Putin knows for sure. Everyone knows only the number of gold owned by the Central Bank. How much is it in the State Reserve - a state secret.
    The main countries of the world can do without the Fed, put financial flows past the dollar.
    I have already expressed the version that the leading countries of the world are preparing to create the Fed 2, IMF2. And it remains only to meet the chapters and sign the documents. I believed that this would happen at the Victory Parade, but Trump had an eggplant revolution, and China and India a stupid provocation that they could not figure out. As a result, the leaders of the USA, China and India did not come. Now Trump has begun to praise the Fed, and Kanye West has gathered for the presidency. In this regard, there are generally fun options.
    I wrote about the American Civil War about 3 months ago, they laughed at me, too lazy to look for who and when.
  14. Alexzn Offline
    Alexzn (Alexander) 18 July 2020 10: 27
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    Quote: 123
    About dismantling the Fed - amused. This is what kind of idiot you have to be in order to cancel the system on which you can parasitize? It is akin to offering Russia to abandon oil in order to become rich, like the Japanese or the Swiss.

    Here you have compared. laughing It will be boring to come in the fresh air in winter to "parasitize" a little. yes
    The oil industry is no worse than other industries.

    No worse. This is the same production. You have emphasized "parasitizing," and I have emphasized "stupid."