Government Gold Reserves Are Secrets More Sensitive Than Nuclear Weapons by Tyler Durden for Zero Hedge
GNN Note – That should be a very, very clear signal as to the importance of gold – got physical gold at your house? Well, time to get busy. / END
According to The IMF, Russia has around $132.26 billion of gold in its reserves, having cranked up its holdings dramatically as it de-dollarized from the USD (dumping all but a few of its US Treasury holdings in 2018)…
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As with most central bank’s reserves, the actual amount and location of those gold reserves is generally unknown or expressly hidden from public purview. As Ronan Many previously noted, Putin’s tour of a gold vault in 2011 (11 years ago) and Russian reporters visiting a gold vault in 2018 (4 years ago) are great for optics and marketing – and the Bank of Russia has been very successful in this regard – but without some hard facts about bar numbers and locational details from the Russian government and Bank of Russia, we still don’t know the true state, size and location of the Russian Federation’s gold reserves.
Which is not surprising, since as Chris Powell of GATA has said in the past and will say again:
“the amounts, location, and disposition of government gold reserves are secrets more sensitive than the amounts, location, and disposition of nuclear weapons.
Indeed, under nuclear weapons control treaties, governments with nuclear weapons have often shared that sort of information, even with hostile powers. But gold reserve information is far more tightly held and most gold information provided officially is actually disinformation.
Why is it this way? It’s because gold is an even more powerful weapon than nukes — an alternative currency that is not necessarily under any government’s power; a determinant of the value of other currencies, interest rates, government bonds, and equities.“
