Did you hear the one about the Russkies no longer buying gold? Well, the MSM just made a sequel to it, only this one makes even less sense…
(by Half Dollar) Wow.
The propaganda is getting pretty bad.
This little gem of epic fail came out of Reuters (bold added for emphasis):
MOSCOW, April 7 (Reuters) – Russian banks have asked the central bank to resume buying gold for its reserves with exports of the precious metal hobbled by the coronavirus outbreak, their lobby group said.
If true, at least Russia’s banks are asking the central bank to save money in, well, money.
The article gets good in the second paragraph:
The country is the world’s third largest gold producer after China and Australia but the almost global grounding of passenger flights, which were used to transport the metal, has meant that banks who buy from producers before selling the metal on have to switch to a decreasing number of more expensive cargo flights or build up inventory.
So, bankers are just flying around the world like regular peeps, only their pockets are loaded with gold kilobars as they step into the airplane?
Sorry, but that’s not how gold is transported.
Notice the other anti-gold propaganda too: they could be burdened with building up gold inventory!
You can’t make that stuff up!
I mean, are the sheeple so stupid as to think that having more money is a bad thing?
Russia’s central bank suspended gold purchases on the domestic market from April 1, without giving a reason. However, analysts have suggested it is focusing on foreign currency sales to support the rouble, which has fallen in line with lower oil prices as the virus spread.
OK, that’s what we’re told, but the simple fact of the matter is, there’s no way to know if this is a fact, a lie, or anything else.
If one thing is certain in this world right now: Our elected “leaders” and their MSM propagandists are really laying on the deceit.
Oh yeah, I’m going in chronological order with this article too!
Those are the first three paragraphs in their entirety and in order.
But wait, there’s more!
Vasily Zablotsky, the head of the National Finance Association, a non-government lobby group of Russian banks, told Reuters that banks are “facing problems” exporting gold as there are also fewer cargo flights and transportation costs have doubled.
There are several problems with that paragraph.
First and foremost, again, we don’t know if that’s what was said to Reuters or not.
Secondly, banks are “facing problems” exporting gold, as if somehow gold was a toxic hot potato that nobody would be caught dead holding.
Thirdly, when we see stuff like there’s “fewer cargo flights and transportations costs have doubled”, well, this only speaks to the disconnect in the markets in general, and in the gold & silver market specifically.
Said differently, yes, the cost of doing ALL business is rising.
Go ask a local hospital administrator what’s going on with the cost of medical supplies.
And medical supplies are necessary.
And money is also necessary.
And gold is money.
And I digress.
Back to the point: There are disconnects in the gold market galore right now.
Indeed, in April of 2020, it sure seems there are disconnects in every single thing, does it not?
I’ll just stop there.
The article goes on, and if you can stomach it, feel free to read the rest of it over at Reuters.
I think you get the point.
For anyone who doesn’t get the point, it is this: Gold & silver have been bid, are bid, and will remain bid.