News

If You THINK About Taking Someone’s Golden “Pet Rock” It Would Be a “Declaration Of Financial War” - Rory Hall (30/11/2017)

Logo - Sprott Money News from the Archives

November 30, 2017

Russia is not Venezuela.

I have long argued that most of Venezuela’s monetary issues are due to their unwillingness to return the gold they received from the Federal Reserve. Goldman Sachs had offered to acquire Venezuela’s gold, when the oil market began it’s slide and OPEC decided to flood the market with oil. The story line was OPEC was attacking the US shale oil market when this move actually crushed Russia and Venezuela’s oil market. Venezuela, eventually, accepted Goldman’s offer and then found themselves in a world monetary trouble. Currently, Venezuela has little physical cash, no gold and their people are starving even though the country is floating on one of the largest oil reserves on the planet.

You can’t even THINK about confiscating someone’s else gold for if you do it is considered an act of financial terrorism. But don’t worry, it’s just a pet rock, barbarous relic and it most certainly is not money!! Just ask any of the Western monetary masters and they will be happy to tell you so.

While everyone is losing their collective minds over bitcoin hitting it’s latest “all time high” real money is still the topic of global trade, monetary systems and global war. Of course we are talking aboutreal, physical gold and not some digital blip-on-a-screen.

In a surprising, and unexpected warning – which seemingly came out of nowhere – Russia’s Finance Minister Anton Siluanov cautioned Washington yesterday that “ If our gold and currency reserves can be arrested, even if such a thought exists, it would be financial terrorism.”



The comment appears to have been prompted by consideration of escalating US/EU sanctions which could ultimately impact Russia’s offshore held gold and reserves. If sanctions include the freezing of foreign accounts of the central bank, it would be equal to declaring financial war on Russia, Siluanov said, although he added that he considers such a scenario unlikely (for now).

After making the point that Russia’s budget is prepared for the possibility of tougher US/EU sanctions, RT reports that Siluanov warned if the west include the seizure of Russia’s foreign exchange reserves, it would be regarded as a “declaration of a financial war.”

According to Siluanov, the budget takes into account the risk of income shortfalls. The budget is based on oil prices at $40 per barrel, which is almost a third lower than the current price.

The budget “has a margin of safety in case of restrictions and sanctions.” It also includes losses incurred by a probable ban on investment in Russian government bonds for foreign funds. The US Treasury is currently considering such penalties.

“If we did not have a margin of safety, then it would be easy to weaken us. And then, our so-called friends would say – if you want to get help from the International Monetary Fund, you must do this and that,” said Siluanov.

If sanctions include the freezing of foreign accounts of the central bank, it would be equal to declaring financial war on Russia, Siluanov said. He added that he considers such a scenario unlikely.

As a reminder, in June, Reuters reported that soon after the Crimea reunification with Russia, the Central Bank of Russia allegedly withdrew about $115 billion from the New York Fed. After about two weeks, Russian officials reportedly returned most of the money to its Fed account. Source

WOW! As Dave Kranzler has said on a number of occasions during our Shadow of Truth conversations, countries would sooner go to war over gold than to allow gold to reveal the truth. The truth is the Federal Reserve no longer has the gold they claim to have. Try to separate a nation like Russia from their foreign accounts, monetary reserves and their gold and watch what happens. Well, actually, we were just told what would happen.

Product Upselling Spotlight

Don’t miss a golden opportunity.

Now that you’ve gained a deeper understanding about gold, it’s time to browse our selection of gold bars, coins, or exclusive Sprott Gold wafers.

About Sprott Money

Specializing in the sale of bullion, bullion storage and precious metals registered investments, there’s a reason Sprott Money is called “The Most Trusted Name in Precious Metals”.

Since 2008, our customers have trusted us to provide guidance, education, and superior customer service as we help build their holdings in precious metals—no matter the size of the portfolio. Chairman, Eric Sprott, and President, Larisa Sprott, are proud to head up one of the most well-known and reputable precious metal firms in North America. Learn more about Sprott Money.

Learn More
about-sprott-skyline
no_comments

Looks like there are no comments yet.