Tag Archives: gold reserves

This is fiscal injection using the books of the Central Bank of Russia rather than the government budget. The central bank is acquiring assets for its own liabilities denominated in the currency it issues, while if fiscal spending were used to inject currency into the economy, the fiscal balance would be show increasing government liabilities.A declining fiscal balance would be interpreted as a negative signal, whereas the central bank acquiring gold reserves ("hard assets") is considered...

This not only adds to gold reserves but it also pumps rubles into the economy without "debt financing" or taxation to "balance the budget."Fort RussRussian Central Bank buys 100% of the gold mined in Russia Rusvesna - translated by Inessa Sinchougova

Russia is rather drastically reducing its percentage of foreign reserves and increasing gold reserves in response to economic warfare aimed at destabilizing Russia.SputnikGold Rush: Russia Stockpiling Bullion Like There's no Tomorrow

Gold fever. Actually, the Central Bank of Russia injects roubles into the domestic economy by buying up domestic gold production. This is a monetary operation conducted on the books of the central bank and it therefore does not affect the government's fiscal balance. Zero HedgeRussian Gold Reserves Hit Putin-Era High, Buying Frenzy Accelerates Tyler Durden