ZeroHedge: Russia is rapidly replenishing its gold reserves, at the fastest rate in 12 years … and dumping US Treasuries at the fastest rate since 2011.
The Central Bank of Russia (CB) has been increasing its gold reserves on a monthly basis since March 2015. The country is currently the sixth largest gold owner after the United States, Germany, Italy, France and China.
According to the Central Bank of the Russian Federation, gold and foreign exchange reserves rose to $ 455.2 billion from March 2 to March 9, reaching an all-time high that has not been observed since September 2014.
“Our international reserves increased by $ 2.9 billion, or 0.6 percent in one week, mainly on the basis of a repeated positive revaluation,” the regulator said in a statement.
And in fact, 2018 saw the fastest increase in the value of Russia's gold reserves since 2006.
In January, RT notes that Russia overtook China, which reportedly accumulated 1,843 tons of the precious metal during that time. Over the past 15 years, Moscow and Beijing have been actively accumulating gold and foreign exchange reserves in order to reduce their dependence on the US dollar.
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According to the World Gold Council, the CBR became the world leader in gold accumulation last year.
According to statistics, the bank has more than doubled the pace of its purchases of gold. He has increased Russia's foreign exchange reserves to meet the target set by President Vladimir Putin, to make it less vulnerable to geopolitical risks. Since 2000, the Russian gold reserves have increased by more than 500 percent.
At the same time, when the Central Bank of Russia is buying gold with both hands and feet, it dumps US Treasuries at the fastest pace since January 2011 …
Is it any wonder Washington is so angry with Putin?
