The return of the "gold standard": why does the United States buy Russian precious metals


In recent years, the volume of purchases by the United States of gold from Russia has increased sharply. So, last year, the Americans bought the precious metal from the Russians for $ 2,1 billion. In past years, according to Russia Briefing, this figure was no more than $ 1 billion.


The growth in Russian gold exports is partly due to the expanded liberalization of such trade operations. So, earlier only commercial banks had a license to sell gold and silver bars abroad. After the reform of 2020, companies with general long-term licenses began to have such rights. In addition, Russia seeks to compensate for the lost income from the decrease in its exports associated with the sanctions measures of the West.

Experts from Russia Briefing believe that the probable reason for Washington's buying up of Russian gold is the desire of the US Central Bank to increase its reserves of precious metals during the covid pandemic and the slowdown in the overall pace of economic development.

Americans are also pushing to buy precious metals from Russia by the global trend of moving away from the dollar in international settlements and China's desire to limit the global influence of the US currency. At the same time, the Chinese yuan is unlikely to be able to assume the role of a reserve currency in the short term. In this regard, a number of experts consider it possible to return to the "gold standard".

USA ... may at some point expect a return to the "gold standard" instead of another fiat successor to the dollar

- assumes Russia Briefing.

In this case, the United States, which has the largest gold reserves in the world, can count on very strong global financial andeconomic positions. Russia and China will benefit from their leadership as producers of the yellow metal.
  • Photos used: Jiaqian AirplaneFan / wikimedia.org
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  1. Alexzn Offline Alexzn
    Alexzn (Alexander) April 28 2021 14: 33
    -4
    RENTV option?
    1. isofat Offline isofat
      isofat (isofat) April 28 2021 17: 15
      +3
      Quote: AlexZN
      RENTV option?

      Alexzn, no, they have an inventory soon, and the gilded tungsten is no longer rolling. laughing
  2. mimokrokodil Offline mimokrokodil
    mimokrokodil (Den Live) April 28 2021 14: 36
    +1
    it is unclear why Russia sells gold for dollars, if the infa is reliable of course
    1. Pivander Offline Pivander
      Pivander (Alex) April 28 2021 14: 48
      -1
      Probably dollars are needed for foreign trade operations or payments on loans.
    2. Bulanov Offline Bulanov
      Bulanov (Vladimir) April 28 2021 14: 49
      -2
      Everything, as at the dawn of the USSR - Torgsins, in which sweets were sold to those who paid in currency and gold. Now the Russian bourgeoisie squander gold for their sweets, condemning the people to the absence of this gold in their pockets. Why not sell gold bullion to your population at world prices, without the right to export it abroad?
      1. Just a cat Offline Just a cat
        Just a cat (Bayun) April 28 2021 14: 59
        +3
        have problems buying gold bullion? you buy it at world prices, and the bank will buy it back at the price of scrap.
        1. Bulanov Offline Bulanov
          Bulanov (Vladimir) April 28 2021 16: 22
          +1
          In ingots - this is at the scrap price. An ingot is not a piece of jewelry, but a piece of metal, i.e. scrap. And in order to restore order in the gold circulation in the country, it is necessary to restore order, as it was before the revolution.
          1. 123 Offline 123
            123 (123) April 29 2021 21: 45
            0
            In ingots - this is at the scrap price. An ingot is not a piece of jewelry, but a piece of metal, i.e. scrap. And in order to restore order in the gold circulation in the country, it is necessary to restore order, as it was before the revolution.

            This is not entirely true. Bars in a can are more expensive than scrap. By the way, if you physically take them out of the bank, and do not leave the gold in the same place, having received only papers confirming the right of ownership in your hands, then try to sell it to the same bank laughing Gold will be checked and not free.
            The order really needs to be restored.
            About 10 years ago, in a conversation, I was asked where to invest money. I, being far from the topic, offered a gold piece. So an interesting detail came to light. Today the price of gold is, let's say, roughly 1 ruble. 20 kopecks, you buy it, half a year passes, the price has risen to 3 rubles. You are happy and contented when you come to the bank, and they tell you - this is all great, but our price is 1 ruble. 30 kopecks. Will you sell?
            Here is such a market laughing Has something changed since then? I honestly did not delve into it.
            By the way, as far as I remember, there is also a tax ...
            In the meantime, I read the other day, trading on the joint venture Exchange is growing by leaps and bounds, in a month they sold 30 billion, the volume increased by about 10 times. The impoverished Russians row, including the shares of all kinds of American companies. On the Moscow Stock Exchange, where only "local goods" are traded, trades are at the same level.
            I didn’t check the information on the trading volume because there was no need, I don’t vouch for the accuracy. This is as information for thought hi
  3. What for "fiat money"? From Fiat, or what?
  4. Petr Vladimirovich (Peter) April 28 2021 16: 44
    -1
    I went into my office in Sberbank, this is what it says

    Gold ₽4 ₽436,00
    1. Bulanov Offline Bulanov
      Bulanov (Vladimir) April 29 2021 13: 36
      -1
      Virtual gold. Try purchasing a 10 or 20 gram bar. And how to buy silver bullion? I tried - only coins are offered. And this is already a product, and not the purchase of precious metal by the population.
      1. Petr Vladimirovich (Peter) April 29 2021 15: 47
        -1
        Some have empty cabbage soup, and some have shallow pearls. I have a pension in rubles and gold-silver unnecessarily, even in bars, even in coins)))
        1. Bulanov Offline Bulanov
          Bulanov (Vladimir) April 30 2021 10: 25
          -1
          That is why people buy precious metals for a rainy day, so that they can eat cabbage soup when they feel like it. How much did the gold pieces help after the revolution, so as not to die of hunger?
          1. Petr Vladimirovich (Peter) April 30 2021 10: 46
            -1
            We seem to live in different nations! My friends don't buy precious metals !!!
  5. Barracuda Offline Barracuda
    Barracuda (Tatyana ) April 28 2021 18: 06
    -1
    Quote: mimokrokodil
    it is unclear why Russia sells gold for dollars, if the infa is reliable of course

    The state (Central Bank) does not sell gold. They are being sold by private Russian companies, from which the Russian state is also buying.
    1. kapitan92 Offline kapitan92
      kapitan92 (Vyacheslav) April 28 2021 20: 13
      0
      Quote: Barakuda
      The state (Central Bank) does not sell gold.

      In 2020, the Bank of Russia began to sell gold: first in July, then in September. According to the International Monetary Fund (IMF), the regulator sold 10 ounces in the summer and 30 ounces in the fall.
  6. Alexzn Offline Alexzn
    Alexzn (Alexander) April 29 2021 07: 47
    -1
    There is an established standard for the share of gold in the gold reserves, somewhere around 20%, if the BR is exceeded, it can sell gold (if it is profitable). The size of the purchase of Russian gold for the United States is within the statistical error and it is ridiculous to talk about any processes. Gold standard talk - for RENTV fans.
    Fake news from a fake agency with fake experts.
    1. kapitan92 Offline kapitan92
      kapitan92 (Vyacheslav) April 29 2021 10: 11
      0
      Quote: AlexZN
      There is an established standard for the share of gold in the gold reserves, somewhere around 20%

      Nabiullina's solution correlates perfectly with the recommendations of the IMF, according to which the share of gold in government reserves cannot exceed 20%. As of April 2020, the total volume of gold and foreign exchange reserves in Russia amounted to $ 563 billion, of which gold - $ 119 billion (21%). Once again, we repeat that such a recommendation from the IMF is suitable for countries that buy gold for foreign currency, but Russia is an exception here. Thus, Elvira Nabiullina thoughtlessly followed the advice of the IMF, which led to the export of gold from Russia.

      Another fact is surprising.

      Export of gold from the country is carried out under licenses specially issued by the Central Bank. Nabiullina's department satisfied most of the applications under contracts with British companies. Thus, 290 tons of Russian gold went to London, which is one of the centers of anti-Russian policy.
      At the end of 2020, Russia exported 320 tons of gold for a total of $ 18,5 billion. For comparison, in 2019 this figure was $ 5,74 billion. Thus, exports grew 3,2 times. The export of gold from Russia became possible only "thanks" to the mediocre policy pursued in 2020 by the Central Bank of Russia.
      Liberal monetarists like to repeat that the active export of gold allowed Russia to receive additional dollar earnings, which, in turn, preserved macroeconomic stability during the period of falling oil prices. This thesis is false. The positive balance of the Current Account (STO) at the end of 2020 amounted to $ 32,5 billion. Gold exports - 18,5 billion. That is, the Russian economy in any case would not have faced a currency deficit.
      Elvira Nabiullina's policy has already led to the fact that Russia lost 2020 tons of gold in 320, at current prices - $ 18,5 billion. Is it stupidity or treason - decide for yourself.
    2. 123 Offline 123
      123 (123) April 29 2021 21: 51
      -1
      There is an established standard for the share of gold in the gold reserves, somewhere around 20%, if the BR is exceeded, it can sell gold (if it is profitable).

      Exactly, the established standard, the IMF established ... Speaking about the zeal of our Central Bank to fulfill these recommendations, some countries are not at all in a hurry to follow these recommendations.
      https://quote.rbc.ru/news/article/5ae098a62ae5961b67a1c4ba
  7. updidi Offline updidi
    updidi (Alexander Kazakov) April 29 2021 11: 58
    0
    Sell ​​gold for candy wrappers lol
  8. Alexzn Offline Alexzn
    Alexzn (Alexander) April 29 2021 13: 30
    -2
    Quote: kapitan92
    Thus, 290 tons of Russian gold went to London, which is one of the centers of anti-Russian policy.

    And also Russian oil goes to hostile Europe and (oh my God!) To the USA! Isn't this a betrayal? We must sell exclusively to friends! Venezuela with Bolivia, North Korea and Syria

    Elvira Nabiullina's policy has already led to the fact that Russia lost 2020 tons of gold in 320, at current prices - $ 18,5 billion.

    BR was selling gold at the peak of the price, which then fell by 10% - traitors! Do you need to waste away over gold like Tsar Koschey? Does gold itself make a person richer? Improves living standards?

    recommendations of the IMF, according to which the share of gold in government reserves cannot exceed 20%

    There are no such recommendations (at least in their pure form), they were invented in Constantinople ... The decision on the share of gold in the gold and foreign exchange reserves was carried out in the Russian Council of Ministers and this is not a restrictive measure, but a recommendation that allows gold to be sold on the market when the same 20% is filled.
    1. 123 Offline 123
      123 (123) April 29 2021 21: 59
      -2
      And also Russian oil goes to hostile Europe and (oh my God!) To the USA! Isn't this a betrayal? We must sell exclusively to friends! Venezuela with Bolivia, North Korea and Syria

      Lie is news laughing Do you think that you can only sell to your friends? With this approach, you have nothing to do in trading. request
      By the way, about your friends, are Ukraine and Haiti better? laughing

      There are no such recommendations (at least in their pure form)
      There is an established standard for the proportion of gold

      Do you accidentally notice the contradictions between these statements? smile
    2. kapitan92 Offline kapitan92
      kapitan92 (Vyacheslav) April 30 2021 00: 04
      -1
      Quote: AlexZN
      And also Russian oil goes to hostile Europe and (oh my God!) To the USA! Isn't this a betrayal? We must sell exclusively to friends! Venezuela with Bolivia, North Korea and Syria

      I appreciated your irony.
      By the way, the term “Russian oil” itself is not entirely correct, trade is carried out by organizations registered in convenient jurisdictions, for example, in Holland and Switzerland. And when a trading organization buys oil in a port, it is no longer Russian, but of the country where the oil trader is registered.
      In the case of oil from Russia, Switzerland is most often such a trader.
       A certain refinery works with certain grades of oil. This system is so complex that it is easier to find oil of suitable quality than to reconfigure the refinery. The bulk of the heavy oil to the United States came from Venezuela, diluted with lighter oil, reaching a standard.
      The USA is a country with extremely complex logistics. Sometimes it is cheaper to buy oil elsewhere and deliver it where you need it. Such precedents happened more than once and did not have any impact on price dynamics. The United States purchased over six million barrels of Russian oil. 6 million barrels - slightly more than Russia exported per day laughing

      Quote: AlexZN
      BR was selling gold at the peak of the price, which then fell by 10% - traitors!

      So what? What is the need for a sale?

      Quote: AlexZN
      Do you need to waste away over gold like Tsar Koschey? Does gold itself make a person richer? Improves living standards?

      There are a lot of "Fantiki" printed, little gold.

      Quote: AlexZN
      There are no such recommendations (at least in their pure form), they are invented in Constantinople ...

      Recommendations exist, only the United States and other "partners" put on them.

      Quote: AlexZN
      The decision on the share of gold in the gold and foreign exchange reserves was carried out in the Russian Council of Ministers and this is not a restrictive measure, but a recommendation that allows gold to be sold on the market when filling the same 20%.

      Give me a link, I'll read it. hi
  9. Alexzn Offline Alexzn
    Alexzn (Alexander) April 29 2021 22: 35
    -2
    Quote: 123
    And also Russian oil goes to hostile Europe and (oh my God!) To the USA! Isn't this a betrayal? We must sell exclusively to friends! Venezuela with Bolivia, North Korea and Syria

    Lie is news laughing Do you think that you can only sell to your friends? With this approach, you have nothing to do in trading. request
    By the way, about your friends, are Ukraine and Haiti better? laughing

    There are no such recommendations (at least in their pure form)
    There is an established standard for the proportion of gold

    Do you accidentally notice the contradictions between these statements? smile

    In fact, it was an answer in the form of irony ...
  10. Alexzn Offline Alexzn
    Alexzn (Alexander) April 30 2021 07: 57
    -2
    Quote: 123
    There is an established standard for the share of gold in the gold reserves, somewhere around 20%, if the BR is exceeded, it can sell gold (if it is profitable).

    Exactly, the established standard, the IMF established ... Speaking about the zeal of our Central Bank to fulfill these recommendations, some countries are not at all in a hurry to follow these recommendations.
    https://quote.rbc.ru/news/article/5ae098a62ae5961b67a1c4ba

    Again! The size of the share of gold in the gold reserves was set by the Council of Ministers of Russia and we are not talking about the limit value, but about allowing the sale of gold by the Central Bank when filling 20%. In your link, countries with their own currency of the 1st category are indicated, in their reserves, gold, by definition, will occupy more than 20%.
  11. Alexzn Offline Alexzn
    Alexzn (Alexander) April 30 2021 08: 03
    -2
    Quote: AlexZN
    BR was selling gold at the peak of the price, which then fell by 10% - traitors!

    So what? What is the need for a sale?

    And what is the need for storage? For a GOLD-PRODUCING country? Where is the logic? Why mine by wasting resources if you don't use the result of labor? Fantasy logic for the gnomes living under the mountain.
    1. kapitan92 Offline kapitan92
      kapitan92 (Vyacheslav) April 30 2021 22: 19
      -1
      Quote: AlexZN
      And what is the need for storage? For a GOLD-PRODUCING country? Where is the logic? Why mine by wasting resources if you don't use the result of labor? Fantasy logic for the gnomes living under the mountain.

      You ask a lot of stupid questions!
      Ask them to your colleagues // Vladest, or this purebred //
      hi
  12. Alexzn Offline Alexzn
    Alexzn (Alexander) April 30 2021 08: 40
    -1
    Quote: kapitan92
    Recommendations exist, only the United States and other "partners" put on them.

    Quote: AlexZN
    The decision on the share of gold in the gold and foreign exchange reserves was carried out in the Russian Council of Ministers and this is not a restrictive measure, but a recommendation that allows gold to be sold on the market when filling the same 20%.

    Give me a link, I'll read it.

    1. Doesn't exist! Can't exist! A-priory!
    Even theoretically, the United States cannot create currency reserves of 80% due to the complete absurdity of the situation - having a reserve dollar, they must store huge amounts in the currencies of third countries? What for?
    The nonsense that partners violate the mythical norms of 20% on the conscience of stupid notes on hurray-patriotic sites. If it comes to that, in Belarus 41%, and in Kazakhstan 68%, Venezuela 85% - on what and what did they put in?
    There is a recommended share of gold in the gold reserves, it is determined by the decision of the Council of Ministers within the framework of the federal law "On the Central Bank of the Russian Federation (Bank of Russia)". For several years now, the share of gold in the Russian Federation has been higher than the indicated 20% (about 23%). Hooray patriots are trying to prove that the laws regulating the activities of the Central Bank are adopted not in Russia, but in the IMF, and it is not clear why, I, an Israeli citizen, should convince you otherwise?
    20% within the Russian decision regulating the right of the Central Bank to sell gold if this recommendation is fulfilled.
    1. kapitan92 Offline kapitan92
      kapitan92 (Vyacheslav) April 30 2021 22: 20
      -1
      Quote: AlexZN
      Does not exist! Can't exist!

      Quote: AlexZN
      There is a recommended share of gold in the gold reserves, it is determined by the decision of the Council of Ministers within the framework of the federal law "On the Central Bank of the Russian Federation (Bank of Russia)"

      Prove your fantasies with links. hi
  13. Alexzn Offline Alexzn
    Alexzn (Alexander) April 30 2021 22: 46
    0
    Quote: kapitan92
    Quote: AlexZN
    Does not exist! Can't exist!

    Quote: AlexZN
    There is a recommended share of gold in the gold reserves, it is determined by the decision of the Council of Ministers within the framework of the federal law "On the Central Bank of the Russian Federation (Bank of Russia)"

    Prove your fantasies with links. hi

    Original! I have to prove the absence ... Maybe you have to prove that it is the IMF that sets the standards for the Central Bank of the Russian Federation? Please indicate the source! I cannot point to the source of the absence of a norm from the IMF which does not exist!
    The regulation of the activity of the Central Bank of the Russian Federation is the Federal Law of the Russian Federation - it is enshrined in the constitution. You can see the regulatory and legal status of the Central Bank - it is on the Internet.