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https://freedium.cfd/https://shankar20.medium.com/ruble-makes-putin-tremble-6ebf7663db5d>
"For a brief moment, just as I was typing the Russian Finance Ministry's
website to check the status of the Russian National Wealth Fund, I had a
feeling that it wouldn't open. I had my doubts, but I also desperately wanted
to know its current status. It didn't open.
Of course, it shouldn't have opened because the Ruble has broken through the
100 barrier against the dollar like a hot knife through butter. How far it will
go from here remains to be seen. I doubt we're in freefall territory yet, but I
have no doubt that we are very close to it.
Although I was unable to find the latest status of Russia's national wealth
fund, I do have the numbers from September, when Russia's savings piggy bank
stood at $53.236 billion. More than a quarter of that asset is in gold. Russia
has been quietly selling gold in the second half of this year, masking the fact
that they were actually drawing money from the national wealth fund.
Gold Position in NWF:
* June — 329.795 tonnes
* July — 303.579 tonnes
* August- 298.84 tonnes
* September — 293.189 tonnes
The Russian Finance Ministry has blocked access to the data. I'm pretty
confident they will keep it under wraps moving forward, especially since the
ruble has crashed past 100 against the dollar. The way it broke through makes
me think it won't return to pre-2024 levels.
There was no pause, no testing, no hit-and-retrace. It was a clean
breakthrough."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
