KTFA:
Samson: Agency: China and Russia have resorted to building gold reserves
9th November, 2022
Bloomberg Agency reported that the dominance of the US currency and Washington’s strict measures to maintain it are forcing some countries, such as Russia and China, to build gold reserves.
According to the article, data from the World Gold Council indicate that central banks around the world bought 400 metric tons of gold in September, which is the equivalent of the usual purchase volume for an entire year.
In the agency’s view, all of this can be compared to preparing for “the end of the world, when people pile up canned goods and firearms in shelters with loads of gold bars.” The article added: “Bullion has one important advantage: unlike a bond, it does not bind you to an unreliable third party.”
In earlier periods, US national debt securities were considered a “risk-free” investment, but sanctions have frozen the reserves of the Bank of Russia, and the European Union is considering transferring this money to Ukraine, so “in a world where no one can be trusted, it makes sense that one saves oneself a golden rescue pillow.” LINK
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Samson: A country neighboring Iraq signs a memorandum of understanding worth about 40 billion dollars with “Gazprom”
Iranian Oil Minister Javad Oji announced the signing of a memorandum of understanding worth nearly $40 billion with Russia’s “Gazprom”, IRNA news agency reported on Wednesday.
“We have signed a memorandum of understanding worth nearly $40 billion with Gazprom,” Oji said on the sidelines of the Iranian cabinet meeting today, Wednesday.
The Iranian minister added, “We also put the development of fields and gas transmission lines on the agenda.” He continued, “We have started bartering oil products, and we are also continuing to discuss the gas barter, and we hope that it will be implemented this winter.”
Referring to the measures taken by the Iranian Oil Ministry to expand foreign investment, the minister said: “Today, large Russian companyes are investing in our country, including Gazprom.” LINK
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