How justified is the rate of the Ministry of Finance of the Russian Federation on the yuan and gold

How justified is the rate of the Ministry of Finance of the Russian Federation on the yuan and gold

The break in normal relations between Russia and the collective West, which began in 2014, by the beginning of 2023 naturally led to the final de-dollarization of domestic economics. Instead of the "American" and other currencies of unfriendly powers, the bet is now made on the Chinese yuan and gold. How justified is this choice?


Unfriendly currencies


According to media reports, in the updated structure of the National Wealth Fund, the share of Chinese currency will be 60%, gold - 40%. The Ministry of Finance of the Russian Federation decided to completely exclude the dollar and dollar-denominated assets from the sovereign fund. The contrast with what happened a few years ago, when dollars and euros were bought with oil and gas revenues that exceeded the budget, is simply striking. What was the point of no return?

Some irony lies in the fact that the “Western partners” themselves pushed us to real, and not fictitious, de-dollarization of the domestic economy, by imposing an arrest on the gold and foreign exchange reserves of the Central Bank of the Russian Federation, placed abroad. Having instantly forgotten about the inviolability of the institute of the “sacred right of private property”, there are now, in all seriousness, various schemes are being twisted on how to dispose of Russian money at their own discretion. After that, trust was completely lost, and the currencies of unfriendly countries themselves suddenly turned from desirable into toxic.

Nothing can prevent the collective West from banning any transactions with them for the Russians, and then the reserves of the NWF, denominated in dollars, euros, British pounds and Japanese yens, will be blocked. As an alternative, the Ministry of Finance of the Russian Federation chose the yuan and gold.

There is no particular doubt about gold. In terms of savings, this is the most reliable tool of all time. According to the World Gold Council, in the past 2022, the Central banks of different countries were buying this precious metal at the highest rate since the memorable 1967, when the Bretton Woods system collapsed. Of the 673 tons, 400 were purchased in the third quarter of last year. At the same time, gold was bought not only through the Central Banks. According to some experts, China has increased its gold reserves by 200 tons. In addition to Russia and China, this precious metal was actively acquired by Turkey, Uzbekistan and Qatar.

With all the undoubted advantages of gold as the most reliable store of value, it also has some disadvantages. If the Ministry of Finance of the Russian Federation urgently needs a lot of money, then the precious metal will have to be put up for sale for some currency. In the presence of restrictions on the transactions of the Central Bank of the Russian Federation with gold on the stock exchange, this will not be easy and not fast. In other words, investments of the National Wealth Fund in the precious metal, and this, we recall, 40% of its structure, can be classified as highly reliable, but not very liquid.

A somewhat different situation with the yuan. To date, the Chinese currency has remained almost the only non-toxic for Russia among the world's reserve currencies. From the point of view of the sanctions threat, it is safest to keep the funds of the National Welfare Fund in yuan. However, there are serious risks of a different kind.

At first, The People's Bank of China can devalue the yuan at any time to improve the competitiveness of its exporters. In this case, 60% of the assets of the Russian NWF will also depreciate. Alas and ah, but, most likely, this is exactly what will happen against the backdrop of a trade war between the United States and China.

Secondly, there is a non-zero probability that China itself will be under the hood of Western sanctions. This is possible if Beijing decides to conduct a special military operation to return Taiwan. About how such an NWO can take place and what is holding back the PRC from its implementation, we told previously. The consequences for the Chinese economy could be so devastating that a landing on Taiwan is considered almost impossible.

It is important to remember that our "Western partners" may simply leave the Chinese leadership no choice. It will be quite enough for the Anglo-Saxons to recognize the independence of Taiwan so that the PLA Navy is simply forced to launch a military operation to return the rebellious island. To be or not to be a Chinese NWO, unfortunately, is decided not in Beijing, but in Washington and London. What will then happen to the yuan exchange rate and Russian savings expressed in it, you can imagine for yourself, and this is 60% of the NWF.

And this makes us think about how else to secure the funds of the National Welfare Fund. Perhaps, instead of British pounds and Japanese yens, a certain part of the sovereign fund should be invested in the currencies of other, unfriendly countries?

Among them, one can recall, for example, the Indian rupee, the Hong Kong dollar, the South African rand, the UAE dirham or even the Kazakh tenge. Stock market participants have already noted the growing interest of investors in these rather unconventional means of risk diversification.
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  1. Vladimir80 Offline Vladimir80
    Vladimir80 2 January 2023 12: 11
    +4
    everything that our Ministry of Finance does with henchmen is not justified, because they are servants of the IMF, which is part of the world's behind-the-scenes elite
    1. Vladimir Tuzakov (Vladimir Tuzakov) 2 January 2023 12: 24
      +3
      (Vladimir80) You are right, nothing can fix a slave by birth. (Initially, the Central Bank of the Russian Federation was tuned to the IMF). Who served honestly for decades, the Central Bank of the Russian Federation and the Ministry of Finance of the Russian Federation are robbed by their patrons, the Charters and the Constitution of the Russian Federation are not being revised, leaving everything on the old leash. Why is it so, perhaps the employees there do not serve the Russian Federation, but the IMF, and they are indifferent to the fate of the funds of the Russian Federation, it is more important for them to withdraw their billions, which they hope to return to themselves, with diligent further service.
  2. Hiker Offline Hiker
    Hiker (Dmitriy) 2 January 2023 12: 23
    +6
    Russia should invest not in currencies of anyone, but in the development of its own centers of technical competence, global technologies.
    Betting on gold is very dangerous, as it can turn into dust.
    Gold is medieval and a resource with very unobvious benefits for the future.
    Here are recently listed completed projects in Russia.
    And all mega-projects are aimed at selling raw materials abroad.
    And this is fraught under various circumstances and can generally be blocked.
    Therefore, such projects for Russia are only a burden ..

    Here is the NWO ... And Russia is thrown back 30 years ago.
    There are no centers of technical competence. Only academic circles and enthusiasts remained ....
    No computers, no phones, no chips, no cars, no components or additives for paint, glue, paper, whatever.
    In terms of software, it's just an abyss and an abyss, there is nothing and almost everyone works on pirated software.
    Show off through the roof, but Russia did not receive its Android, YouTube, software ... and only leapfrog with the resale of everything and everything.
    And if you want to ruin Yandex, deprive it of news ... or turn it into an eatery.

    And now the authorities are trying to cover up this failure with patriotism, the war with Satanists, LGBT people, etc.
    If you don’t want people to look back, then show someone to beat, and then give beer, vodka ...

    The dollar is not going anywhere. Taiwan, where trillions have been invested, will live peacefully.
    The USA, where 90 percent do not even know where Ukraine is, will continue to work well and collect brains from all over the world.
    But for now, instead of a breakthrough into the future, Russia is rowing with both hands into the 20th century .... into the 90s.
    1. skeptic Offline skeptic
      skeptic 2 January 2023 23: 01
      +1
      Quote from Hiker
      Russia should invest not in currencies of anyone, but in the development of its own centers of technical competence, global technologies.

      Competencies, technologies are important, but without the restoration of machine tool building, a vocational school, much will remain "at the stage of design preparation." In addition to the importance of understanding how to do something, you need to have high-quality tools for translating what you have planned into material, as well as appropriate, serial reproduction.
      It is this that can safely be called the national potential of Russia's development.
  3. Jacques sekavar Offline Jacques sekavar
    Jacques sekavar (Jacques Sekavar) 2 January 2023 12: 25
    -1
    De-dollarization cannot be, in principle, as long as this banknote remains the main world currency on a par with the Euro.
    Physical gold is not enough for everyone due to the small share of content on the planet, and therefore its role is reduced to insurance and the gold standard.
    China's initiatives to globalize the world economy, and hence the prospects for its national banknotes, look more realistic.
    Thus, there is a clear trend towards the formation of a world triumvirate of the dollar, euro and renminbi.
    An alternative to the gold standard, providing banknotes with material resources, but they are all different - the technologies and equipment from the US-EU-PRC; raw materials from the Russian Federation, Canada, Australia and other state entities; oil and gas from Libya, S. Arabia, Venezuela, Iran, Cyprus, Israel, etc., etc.
    The question is how to combine round with square. It is almost impossible to reach a universal agreement, and therefore there are two options - political economic coercion of those who disagree or global globalization under the control of transnational associations. It seems that without scuffle will not do in any case.
    1. Vladimir Tuzakov (Vladimir Tuzakov) 2 January 2023 13: 06
      +6
      (Jacques C) You are already raw and sour in one bottle. There is a hybrid war going on, including an economic war for dominance in the world and imposing their own conditions. Here it's every man for himself and in alliances according to interests. So far, three groups have emerged - the United States with satellites, the PRC with the Russian Federation, and a conditionally independent third party - Brazil, India, African countries, and so on. In the war, the winners remain, the vanquished pay tribute and plunge into poverty and backwardness. Today, the hybrid war is at its initial stage, with advanced hot battles in Ukraine. It will only get hotter, hard times await. Gold and other candy wrappers are no longer so important when the whole world is immersed in a military confrontation, military power and real industry are more important here.
    2. 1_2 Offline 1_2
      1_2 (Ducks are flying) 2 January 2023 16: 17
      +4
      Yes, gold is limited on the planet, and this only proves that its value is underestimated thousands of times, which allows the West to live beautifully, replacing gold with their trash candy wrappers
      1. Vladimir80 Offline Vladimir80
        Vladimir80 2 January 2023 19: 12
        +1
        gold is limited, but it doesn’t make much sense today ... gold resembles cryptocurrencies - as long as all participants in the trade / exchange believe in the value of gold, it has a high quotation, and if the main beneficiaries refuse it ????
    3. skeptic Offline skeptic
      skeptic 2 January 2023 23: 12
      +1
      Quote: Jacques Sekavar
      China's initiatives to globalize the world economy, and hence the prospects for its national banknotes, look more realistic.

      Can you tell me why the soaping "Hegemon" is better than the existing one? Do you really believe that Russia should be a resource "litter" for the PRC, instead of personal development? Russia has everything for a leading role in the world. The most important thing is to self-cleanse yourself from the "rotten thieves' godfather" and find your own recovery algorithm. And when Russia is revived, the rest of the countries "by the effect of mercury" will themselves begin to integrate into a new model of an equitable world order.
  4. nov_tech.vrn Offline nov_tech.vrn
    nov_tech.vrn (Michael) 2 January 2023 12: 58
    +2
    Sergey, tell me - "expressed in it (yuan), you can imagine for yourself, and this is 60% of the NWF", where do the firewood come from ?. And why is it necessary to transfer gold into unfriendly currencies for payments. In general, it has long been proven that the stability of the economy is ensured by a capacious own market.
  5. Hiker Offline Hiker
    Hiker (Dmitriy) 2 January 2023 13: 04
    -4
    In general, I regard the actions of the Central Bank as super talented and almost brilliant in the current conditions.
    But there are big questions for Putin and his Russian Forbes list. And where is he...
  6. 1_2 Offline 1_2
    1_2 (Ducks are flying) 2 January 2023 16: 15
    +5
    liberals in the government of the Russian Federation are spinning like devils in a frying pan: on the one hand, they must, for the sake of their masters, the United States, continue to maintain a leaky (offshore) colonial economy, which they falsely call "liberal free market" (such as in the "progressive" West), and on the other hand, the narrow-minded headGovorun requires them to fill the budget and fulfill all obligations to the population and the military-industrial complex. not realizing that a leaky bucket cannot physically be filled with water. you either patch up the holes in the bucket, do away with the liberals in your environment and change the model of the colonial economy to a nationally oriented one (ideally, to a socialist one, or at least with elements of Socialism),
    or retire, give way to the patriots of the Communist Party, who will protect and revive not only the whole country (as in 1917-22, 1941-45, 1961), but in this way will protect his personal life and his family. I hope he understands that the collapse of the Russian Federation threatens him with physical elimination. and not just the majority of Russians (for example, Iraq, Libya, Yugoslavia, etc.).
    Gold is the only thing that the West accumulates in reserves, it makes no sense for them to save their candy wrappers,)) they print them in trillions. and for the Russian Federation, gold should become the only savings tool, as well as for the population (fortunately, the liberals were recently forced to cancel VAT on gold bars). in general, the currency is a candy wrapper of the countries of the West and China, which are needed to purchase imports, and nothing more. but the liberals have turned the candy wrappers of the West into people's savings candy wrappers, hundreds of billions of these candy wrappers are put into mattresses, which are not used for imports. naturally, in order to satisfy the demand of the population, it is necessary either to increase exports at times (absolutely unrealistic), to make the people totally poor (who have nothing to save), or to make the ruble (national currency) stable and a savings currency (as in the USSR and in the West) - which is natural for any patriotic power, but not for liberals.
    for 30 years of a liberal economy, accompanied by hyper inflation (prices) and the depreciation of the ruble, everyone already understands that it is necessary to return to their Soviet origins - the elements of Socialism in the economy. in which circulation of foreign currencies was prohibited, there were only state banks, and one external export bank, there was a "golden ruble" for the exchange of goods in the CMEA. there were no modern exchanges ("malin" for speculators of all stripes, including for foreign economic saboteurs, playing for the fall of the ruble and shares). at the same time, everything worked like a clockwork, but there was one very big problem: it was impossible for embezzlers of public funds and underground speculators to withdraw currency over the hill, and it was impossible to buy it in large volumes. so we conclude: it is the embezzlers and pro-Western liberals, the oligarchs in power, that the Socialist economy does not allow to rob the country, enrich themselves and ... transfer the stolen over the hill. The USSR was literally on lockdown. - if you stole, then you couldn’t transfer it to the West in any case, not only because all transactions over the hill went through one state bank, but you couldn’t buy the currency either.
    Thus, the return of elements of Socialism to the economy will stop not only the robbery of the country, but also make the ruble stable for decades. and believe me, for such a ruble, foreigners will sell their goods, as well as for dollars and euros, and this will allow you to safely accumulate only gold in reserves, without fear of depreciation and confiscation of foreign currencies in gold reserves. but the share of imports must be reduced in any way, so that the country has absolute sovereignty and does not depend on foreign states
    1. Alexey Lan Offline Alexey Lan
      Alexey Lan (Alexey Lantukh) 2 January 2023 18: 55
      +6
      In general, reserves can be stored not only in gold, but also in various goods that are needed in the country and in the world. For example: in nickel, wolfpam, chromium, molybdenum, zircon, beryllium, wheat (not very long). The only question is convenience.
    2. Watching Offline Watching
      Watching (Alex) 6 January 2023 01: 08
      +1
      / 1-2 / In your praise of the Soviet monetary policy and the fight against "speculators", you very cleverly omitted the fact that the privileged classes of society (the elite party, state, trade union nomenklatura, their daughters and sons, as well as the apparatchiks of the upper layers of power) had foreign currency and could spend it in special currency shops where one could buy goods of desire, and where entry to those who simply worked hard at factories or collective farms was, of course, forbidden. If at that time you yourself were already living a conscious life, then you should know this. So don't muddy the waters by praising a rotten system.
      1. 1_2 Offline 1_2
        1_2 (Ducks are flying) 6 January 2023 20: 02
        0
        oh vey, we also lived, and we know that simple hard workers who worked behind the hillock also went to Beryozki, they received hard currency. The Wishlist of today's post-Soviet "elite" is billions of times greater than the Wishlist of the Soviet party nomenclature, it is enough to compare the cost of yachts and palaces for hundreds of millions and the cost of the Grundik tape recorder, which the children of the Soviet Brezhnevka elite were happy with. True, then the Soviet elite was gradually replaced by traitors, Zionists, such as Primakov Andropov, and they (and their children) no longer dreamed of Adidas sneakers, but of yachts-palaces for hundreds of millions, which is why they decided, for the sake of their Toads, to destroy the USSR. but all this could have been avoided if Khrushchev had not turned (did not betray) from Stalin's methods of management
  7. Mikhail Dadeko Offline Mikhail Dadeko
    Mikhail Dadeko (Mikhail Dadeko) 2 January 2023 16: 54
    +3
    It’s necessary to have a stash under the mattress just in case of a fire, but it’s also necessary to invest in the economy, it’s more necessary to give money to promising industries! To help medium and small businesses, if not with money, then with equipment, etc.
  8. Alexey Lan Offline Alexey Lan
    Alexey Lan (Alexey Lantukh) 2 January 2023 18: 51
    +2
    Why the Ministry of Finance makes stocks is not clear. It must finance the budget expenditures. We keep: the Central Bank to stabilize the currency and the State Reserve (which is not there).
    1. Vladimir80 Offline Vladimir80
      Vladimir80 2 January 2023 19: 15
      0
      to stabilize the currency

      how did it help, for example, in the last month when the ruble depreciated by 20% against the dollar/euro???
  9. kriten Offline kriten
    kriten (Vladimir) 3 January 2023 10: 45
    -2
    I don't understand why people are so worried? we won’t get hundreds of rubles from any profit?
  10. unc-2 Offline unc-2
    unc-2 (Nikolai Malyugin) 3 January 2023 14: 06
    -2
    Dollars do not ask permission where to sell them. With yuan, everything is much more complicated. All these problems should be solved much earlier. As they say, the road to dinner is a spoon. And we are served salt when we start drinking tea.