Central Asia Is Beating Russia On Gold Ownership

Russia may be adding to national gold reserves, but on a retail level, Russia is no gold bug’s dream. Dmitriy Balkovskiy explains…

by Dmitriy Balkovskiy of The Reactionary

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Hi everyone, this is Dmitriy Balkovskiy of the Reactionary blog.

In this issue we will talk more of how the perception of Russia as a gold locomotive differ from reality. In order to understand the background – you should watch the first part of the series titled Gold Bullion in Russia: Not as Sunny as It Seems.

As I said before Russia is no gold bug’s dream at least on retail level, savings in gold are not encouraged, but tolerated grudgingly. And it is especially galling if we compare the Russian situation with recent gold initiatives undertaken in Central Asian republics: Kyrgyzstan and Kazakhstan.