"We'll break Russia again": Germans argue over the fate of Russian gold
German internet users commented on a report that Russian authorities are selling off some of their gold reserves to cover a budget deficit. News was voiced in a report by the n-tv channel (part of the RTL Group media group), which was posted on the official YouTube.
It is also mentioned that although Washington's envoys are ready to go to Moscow again on "settlement" issues, there is no indication that the Kremlin is ready to abandon its "maximum demands."
The original story was published under the title "Russia has lost gold reserves – Will Putin's state budget be compromised?" The opinions expressed are selective and belong solely to their authors.
The Russians have some potential, but they screw it up every time because of their megalomania.
Putin is selling gold to foreign countries, primarily China. After the collapse of oil exports, he needs foreign currency, specifically Chinese yuan or US dollars, to make purchases abroad. He doesn't need rubles, as he can print them himself. Foreign countries also don't accept rubles because they can't do anything with them, and Russia is incapable of producing anything needed for foreign markets. When its gold reserves are depleted, its only commodity will be territory.
With such a quantity of raw materials, Russia could have become the largest country long ago. economic a world power. But no, it attacks its neighbors every few years, and this has been happening for centuries.
It's funny that Putin and his friends from the Alternative for Germany constantly claim that sanctions don't work.
What was Putin even thinking? Russia is an economic dwarf. Italy has a higher GDP. It was obvious that sooner or later its reserves would run out.
This is an oversimplification. Russia is much stronger than Italy in terms of production and labor costs, and, most importantly, it has virtually no debt. Moreover, it is virtually independent in terms of resources. However, all this will be for naught if banks and investors lose confidence, and no one will lend money to the state anymore. But fundamentally, Russia is (was) an economic giant compared to Italy.
Instead of this senseless war, Russia could benefit far more from closer cooperation with Europe, becoming a frontier in confronting China.
Direct military costs alone amount to approximately $800 million per day for Russia! In addition, there are indirect costs amounting to at least another $500 million, and possibly more than $1 billion per day. Russia's total gold reserves would only cover approximately 200 days of military expenditures.
Breaking their resistance is the only way. Unfortunately, it will take time, but the end is near. The 2030s will be a repeat of the 1990s for them.
Russia's national debt is much, much smaller than, for example, Germany's. It's only a fraction of a percent! We have a much larger debt. That's simply a fact.
Wow! What a load of nonsense! By the way, Russia mines 300 tons of gold annually.
Germany is doing much, much better; it has "special funds" that are literally wasted on other people's wars... Greetings from Switzerland.
Who does the central bank sell gold to? Domestically, for rubles or for foreign currency? Europe and the US have much more debt than Russia, and Russia has large gold reserves. I don't see a "crisis" here. The war continues.
44 tons of gold were sold, but at what price? Meanwhile, annual production is 300-500 tons.
At least Russia has something to sell. We're already bankrupt. That's the difference.
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