Never before

For the first time ever, Russia is cashing in its gold reserves, part of a bold move to fund its budget.

Why it matters:

Using gold and Yuan from the National Wealth Fund to plug budget gaps. Over 2,300 tons of gold in play.

What about Western currencies?

Mostly frozen due to sanctions.
The impact is that it could stabilize the ruble and manage deficits, because gold is now cash, not just a hoard.

What is the bottom line? Russia is shifting gears from hoarding to liquidating. This could change global perception of its reserves.

Russia is doing some bold moves, but it keeps them stronger that the West had thought!

Sincerely,

Pele23

Posted Using INLEO