Putin Plays A Golden Card

77
Tue, Apr 1, 2014 - 9:32pm

A rather significant development is soon to take place in the ongoing Ukrainian Crisis and I must admit that, until late Monday, I was completely unaware of it. Thanks to this wise and industrious community, however, we now know of this next escalation.

First of all, many thanks to those who posted and/or emailed this link: https://en.itar-tass.com/economy/725832 Please take the time to read this roughly-translated story. Go ahead. Do it right now. I'll wait...

So, what do we have here? Is this "no big deal"? Is that the reason you haven't seen or heard of this story before now?

Nope. This is a test case, a trial balloon and a warning shot...all rolled into one. This is Vlad, thumbing his nose at Woody and The West. This is Vlad, flipping the golden bird at those who foolishly think that they control the future.

But you need more background. What is Bank Roosiya? Based in St. Petersburg, it is technically the 15th-largest bank in Russia. Occasionally, it is also referred to as "The Kremlin's Bank" and the bank was the only financial institution "frozen out of the dollar" by the sanctions put in place by the US Congress and Woody last week. Here are a couple of "mainstream" stories from the past few days:

https://www.theguardian.com/world/2014/mar/20/crimea-crisis-kremlin-bank...
https://www.reuters.com/article/2014/03/28/ukraine-crisis-sanctions-bank...
https://www.bloomberg.com/news/2014-03-20/bank-rossiya-becomes-first-rus...

Hmmm. But now check out this link from RT, dated March 21: https://rt.com/news/putin-president-sanctions-bank-305/ Your money paragraphs have been conveniently c&pd below for you:

Putin also commented on the latest sanction of the US authorities that concerned Russia’s Rossiya Bank, to which international payment systems Visa and MasterCard stopped serving clients on Friday.

The Russian president said he will get his salary via the sanctioned bank.

“I’ve already said that I was going to open an account in this bank, more than that I asked for my salary to be transferred to this account,” he said.

Putin added that Russian authorities should provide any possible support for the clients of the blocked Rossiya Bank, as this “finance establishment has nothing to do with Ukraine crisis.”

“The clients of the bank must be taken under our protection. We also should make sure that neither clients nor the bank will sustain any negative outcome from this situation,” he added.

So, in light of this, what did Vlad do next? He has allowed Bank Roosiya to issue bank notes that are fully convertible into any foreign currency, including gold.

From the Tass link of Sunday, note this section:

"The Golden Symbol of Russian Rouble installation in front of the bank’s office in Perevedensky pereulok in Moscow will symbolize the rouble’s stability and its backing by the country’s gold reserves, the action’s organizers explained to Itar-Tass."

And then note that the article continues:

"The bank Rossiya’s decision to give up foreign currency and start working exclusively with the Russian rouble is a step forward towards converting the Russian economy and banking sector to national currency, Andrei Kostin, the VTB bank president, said in an interview with the Russia 24 TV news channel commenting the decision of bank Rossiya to operate only in the domestic market and exclusively with the Russian rouble."

The article concludes with this:

"We have been moving towards wider use of the Russian rouble as the currency of settlement for a long time...said Andrei Kostin, the VTB bank president...The VTB chief said that Russia should sell domestic products - from weapons to gas and oil - abroad for roubles and buy foreign goods also for roubles...“Only then are we going to use the advantages of the rouble being a foreign currency in full measure,” Kostin said, adding that AB Rossiya would form a vital part of the Russian banking system and would closely cooperate with other Russian banks, which would also expand the rouble’s use in settlements...“A new imperative motive has appeared for that now,” the VTB chief stressed.

As I stated above, this is just a start...a warning shot, if you will. This does not mean that Russia will institute a gold-backed and convertible ruble next week. What this does mean, however, is this:

All that you've read from me, Sinclair, Willie, Turk, Rickards, Butler and others is TRUE. This is going to happen. Eventually, the dollar-creditor nations will rise up. Perhaps it will be during/after the next Major Financial Crisis. Perhaps it will be in response to these and future, ridiculous and unnecessary sanctions. Perhaps it will simply be "time". Regardless...this is NOT a matter of IF, it is simply a matter of WHEN. This Russian trial balloon...this "flipping of the golden bird"...shoud prove this point to you unequivocally:

The next global financial system will not be based upon the endless printing of paper currency, backed by a sole superpower hegemon. It will, instead, be backed with gold.

China, Russia, India, Brazil, South Africa and all of the creditor nations know that this is an eventuality. In this link, a western journalist rolls out all the tried-and-true rationale for "BRICS Supporting Russia":

https://thediplomat.com/2014/03/why-did-brics-back-russia-on-crimea/

But the Status Quotians fail to comprehend the real reason these countries are banding together. They KNOW that the days of dollar supremacy and reserve currency status are numbered and they all want to be allied on the same path for the future. Putin's latest move to allow Bank Roosiya to issue currency backed with gold should be viewed by all as a clear sign and/or signal of what lies ahead.

TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  77 Comments

ggnewmex
Apr 2, 2014 - 8:12am

Things just got hot

according to ZH. Perhaps that is the reason for the swift upward action, and major lowering of GOFO>

Leave it to JPM to REALLY screw the world

silver66
Apr 2, 2014 - 8:18am

Second

my lucky of lucky days

Silver66

Sheeplessness
Apr 2, 2014 - 8:21am

Reset in 3,2, 1.......

Reset in 3,2, 1.......

ggnewmex
Apr 2, 2014 - 8:22am

Chain of events?

Last week we learned, ( though not officially) that Obama got kicked out of Saudi after two hours.

We then learned of the oil allliances that are being made with China and Russia.

There are other things as we know and TF has so eloquently laid out.

With this news from yesterday about the JPM shutting out Russian banks and money effectively, and Russia's furious attitude, ( because you can mess with many things, but when you mess with someone's money, then it gets personal) it would seem that Russia will now be forced to get their ruble (?) up and running quickly. With the oil alliance made, Saudi furious at the USA apparently, and now JPM's actions, it would seem that the petro-dollar and therefore the world reserve currency status is in deep jeopardy.

Events may start proceeding quickly ......


Apr 2, 2014 - 8:27am

Yup... JPM/Putin slugfest

Furious Russia Will Retaliate Over "Illegal And Absurd" Payment Block By "Hostile" JPMorgan

Submitted by Tyler Durden on 04/02/2014 - 08:02

While everyone was gushing over the spectacle on TV of a pro-HFT guy and anti-HFT guy go at it, yesterday afternoon we reported what was by far the most important news of the day, one which was lost on virtually everyone if only until this morning, when we reported that "Monetary Blockade Of Russia Begins: JPMorgan Blocks Russian Money Transfer "Under Pretext" Of Sanctions." This morning the story has finally blown up to front page status, which it deserves, where it currently graces the FT with "Russian threat to retaliate over JPMorgan block." And unlike previous responses to Russian sanctions by the West, which were largely taken as a joke by the Russian establishment, this time Russia is furious: according to Bloomberg, the Russian foreign ministry described the JPM decision as "illegal and absurd." And as Ukraine found out last month, you don't want Russia angry.

P.S. Interesting action in the opposite direction in crude, it has dropped strongly from 101.41 to 99.20 in the last 24 hours or so... might be due for a bounce.

nadgeskaul
Apr 2, 2014 - 8:27am

Richard Duncan Interview - Highly Recommended

I admire the all-encompassing sagely approach used by Rickards and Duncan. This is a new favorite as it expands the length of the end of US capitalism and the shift towards "creditism" as we left the gold standard. He doesn't address the potential abandonment of the US dollar, and , therefore, believes this could continue for a decade before DEBT:GDP is extreme (i.e. Grecian levels).

Cliff Küle's Dollar Debauchery - Richard Duncan Interview
Patriot Family
Apr 2, 2014 - 8:30am

Gold Backed Rouble

Even if it's just one bank on the other side of the world, it's a start. Backing currency with gold holdings is a very bold statement.

silver66
Apr 2, 2014 - 8:37am
sierra skier
Apr 2, 2014 - 8:39am

Leave it to Putin

to throw a monkey wrench into the system. He has every right to do so as well. If the western bankers would pull their greedy heads out of the sand to see they have pushed their welcome well past their time to leave the party folks might respect them more.

This is just one more international step in showing western bankers they have gone past any level of sanity in an attempt to rip off the world.

Green Lantern
Apr 2, 2014 - 8:53am

UKRAINIAN “LEADER” TYMOSHENKO

UKRAINIAN “LEADER” TYMOSHENKO WANTS TO KILL 8,000,000 RUSSIANS… WITH NUKES

The saga in the Ukraine continues, folks, and so many of you sent me this article that I cannot thank you by name, but it’s worth talking about and bringing to everyone else’s attention. But before we get to it and my commentary, let me be clear once again. I do believe that Ukrainians had valid concerns about their previous government and its oligarchs, and that many Ukrainian protesters were legitimately voicing their concerns. At the same time, I do believe that the crisis, if not created or fabricated by Washington, was certainly exploited by it through its various fronts, and I also believe that it deliberately funded and used the most vile and extreme elements within the Ukraine to drive and exacerbate tensions, and that those elements now have a choke hold on that unfortunate country.

Continued....

https://gizadeathstar.com/2014/04/ukrainian-leader-tymoshenko-wants-kill...

SUMMARY

Prediction?

That this type of story is only going to increase, for it heralds the beginning of “active measures” and “covert operations” against the west, and that has to have the western oligarchs very concerned.

Patrancus
Apr 2, 2014 - 9:18am

JP Morg

illegal and absurd, no kidding ?, they have to keep the balls in the air at any cost, its what these particular mortals of the planet do.

Kansascrude ggnewmex
Apr 2, 2014 - 9:58am

Obammy kicked out of SA in two hours?

Thanks that is news to me can you relate any documentation on that? Looks like the dominos are shaking!!!

I am good with posting this Thread for the General Public ASAP

ancientmoney
Apr 2, 2014 - 9:59am

Knowing how TPTB operate . . .

soon Obama will be trotted out to connect Russian actions with a rising gold price (actually falling dollar), and that anyone who owns gold is unpatriotic.

Luckily, very few people believe a word that comes out of his face anymore.

agNau
Apr 2, 2014 - 10:09am

Rates.....

Rising.

ivars
Apr 2, 2014 - 10:12am

Turd this looks like a double

Turd this looks like a double post by you?

https://www.tfmetalsreport.com/blog/5619/vlad-flips-golden-bird

Ops no.

If gold standard is returning, prior to that or in concord, at least few billion people have to be removed from the Earth. I doubt this decision has been made already to implement now, but it may be coming.

Colonel Angus
Apr 2, 2014 - 10:14am

Anybody see a way this turns out well...

...for the USD and Obammy in general? I'm a contrarian by nature, so I'm trying to come up with some way. I have to admit I'm failing.

I said it before, and I'll say it again. TPTB had to put a half-black man in as president and a half-woman in as Fedhead before they could really let the SHTF. The dominos are lined up, and it is about time for them to kick the can right into the house of cards they had constructed.

Question- does this show itself as a hyperinflationary depression (and hyperinflation is always a political event) or as a deflationary depression (due to debt destruction when countries just start defaulting)?

Either way we continue to expand the farm, stack all the metals- gold, silver, brass, and lead- and try to get away from the system as much as possible.

El Gordo
Apr 2, 2014 - 10:41am

Does anybody think

...that JP Morgue would take this action on its own without direct instruction from their masters in DC? Just more of the CIC's master plan to destroy the USA.

Zachy D
Apr 2, 2014 - 10:52am
mac
Apr 2, 2014 - 10:54am

From ZH @ 9:03

Sberbank, the largest bank in Russia and all of Eastern Europe, just halted the issuance of consumer loans in foreign currency.

ggnewmex
Apr 2, 2014 - 11:02am

Thanks Zachy D

For that reference... that is the one I was referring to.

WOW, to be a fly on the wall. What the MSM media is reporting is so slanted as to be not even believable in the sense that before one could read between the lines and find the truth. Now, things are just plain ridiculous.

AlienEyes
Apr 2, 2014 - 11:06am

el Gordo

At this point, it looks like there are no "masters in DC" whatsoever.

For all I know, the morgue's masters might well be in Israel or Hong Kong.

Dagney Taggart
Apr 2, 2014 - 11:14am

Apmex JM 100s

I love querying this product to gauge retail buying - a tip pickup up from someone here, don't recall who.

https://www.apmex.com/product/35629/100-oz-johnson-matthey-silver-bar-99...

Inventory is now 257.

Three weeks ago it was over 700 and has been in the 600-900 range for the last year.

flyinkel
Apr 2, 2014 - 11:19am

Gifts, everybody Loves Gifts!

More PIV (Putin induced volatility). NUGT, USLV, JNUG for a tidy run up to convert to shiny. Lazer focus, their antics bode well for Turdites. Heck, even consider UWTI for some diversification. Happy investing.

metalsbyamile
Apr 2, 2014 - 11:20am

Welcome

to the jungle.

Do you know where you are? You in the jungle baby.

Guns N' Roses - Welcome To The Jungle Live Live Ritz 1988
bullion only ancientmoney
Apr 2, 2014 - 11:21am

Luckily, very few people believe a word that comes out of his fa

"soon Obama will be trotted out to connect Russian actions with a rising gold price (actually falling dollar), and that anyone who owns gold is unpatriotic."

Submitted by ancientmoney on April 2, 2014 - 9:59am.

Not a problem for the good, patriotic folks on this forum that hold no more gold than is on their finger or in their mouth.

Around here we put our capital in IRA's and the safety of T-bill's so America can remain strong and the people around the world can remain free.

Who needs an ancient relic when you can buy consumer stocks that are guaranteed by the government to only go up.

Credit is king because debt makes the world go around and as George Bush said after 911, "Now go out there and spend and show your patraiotism."

RT

achmachat
Apr 2, 2014 - 11:24am

Re: Apmex JM 100s

I've said it before and I say it again:
you guys who have access to the US retailers should really consider yourselves very lucky and TAKE ADVANTAGE of this!

what I wouldn't give to lay my hands on silver for 0.80 USD over spot...

If I do a lot of shopping around, I can find silver for a total premium of around 3 EUR per troy ounce. (and this is for sources without VAT). That's around 4,15 USD over spot per troy ounce.

Zachy D
Apr 2, 2014 - 11:27am

Chain of events

Our current course is one of escalation and I don't think we'll be deviating from it until the fighting stops. The west will not give up the USD without a fight, we've seen some minor moves by western members (Germany) to bridge the gap that's being formed by accepting RNB for some trade business. But this is nothing compared to the overall rift that currently exist and while Germany's economic interest may lay more with the East they are bound and shackeled bythe E.U., Nato, and article 5. The west's power is shrinking but they still have an advantage militarily, an advantage the east is feverishly trying to counter. If there losing on all fronts except one it makes sense to fall back on your trump card. But this is of course an opinion.

BTW if your interested in prophecy check out this video:

Nicolaas "Siener" van Rensburg Part 3 of 3
ancientmoney bullion only
Apr 2, 2014 - 11:33am

@bullion only re: patriotism . . .

"Not a problem for the good, patriotic folks on this forum that hold no more gold than is on their finger or in their mouth."

--------------------------------------------------------------------------------

I am sure there are some people who read this forum who still do not have sufficient physical gold and/or silver.

My guess is that fewer than 3% of the general public has more than "is on their finger or in their mouth."

While I'm guessing at least 50% of the regular forum posters here have substantial phyzz holdings, probably less than 10% of the lurkers do.

They are still trying to figure out if the bankers can save the western, fiat, debt-based financial system, and the last three years has given them some hope.

That hope is based on MOPE, as many here know. This system is dead, but the doctor simply hasn't read the time of death yet.


Apr 2, 2014 - 11:44am

S&P 500

I just glanced the S&P charts and I am totally flabbergasted. They have ramped it back up to near its all time highs.

Simply incredible.

mac
Apr 2, 2014 - 11:51am

Italy had 6.000 Tons

...of gold...wonder if they are using it?

Italy has no elected PM. Can u believe it?

GS has run the joint. Italy people are clueless?

Oh, Italy also has 64 US military installations; Italy has been called "a launch pad for future wars."

Naked Bankster Power.

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