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Russia to resume foreign exchange purchases to boost currency reserves

May 05, 2023 -

According to Bloomberg Economics, the move aims to bolster Russia's reserves as growing energy revenues "stabilize" public finances despite the West's efforts to squeeze Kremlin's income. The media outlet estimated initial volumes amounting to an equivalent of around $200 million in yuan per month.

The Chinese currency is the main asset Russia can still use to conduct transactions for its $154 billion wealth fund because of the sanctions that cut the country off from the world's ...

Groundwater reserves in the United States are being depleted at alarming rates

2 months ago -

All across the country, groundwater reserves are being depleted at a dangerous rate. The impact of their depletion could be disastrous for America and the global food supply.

An investigation found that 45 percent of the more than 80,000 groundwater wells surveyed across the nation showed a statistically significant decline in water levels since 1940. Four in ten of the wells have hit record-low levels in the past decade alone

“There is no way to get that [groundwater] ...

Poland’s central bank to increase its share of GOLD reserves to 20%

February 14, 2024 -

NBP President Adam Glapinski announced this momentous occasion during a press conference, where he noted that "a 20 percent share of gold in reserves is characteristic of the wealthiest, safest and most credible countries."

The latest estimates suggest that gold currently makes up around 12.6 percent of the country's reserve assets. Assuming that the value of foreign reserves and the gold price won't change significantly, this means that the NBP would need to have about ...

So much for being eco-friendly: Desert solar projects in Southern California are draining water reserves of local communities

July 13, 2023 -

The water-intensive development method for massive solar projects has brought about the fall of groundwater levels, which has impacted the small communities near Desert Center, California, that rely on the naturally occurring underground water reserves or groundwater aquifers. (Related: IRONY: "Green" solar energy creating massive landfill waste problem in California.)

Critical local water wells have dried up and land underneath homes has slumped due to the development ...

Israeli genocide of Gaza may be motivated by Palestine’s maritime natural gas reserves and desire to “wipe Gaza off the map”

November 14, 2023 -

Israel's longtime plan, which Prime Minister Benjamin Netanyahu has been salivating over for many years, includes clearing out Gaza and confiscating all of the maritime offshore gas reserves, worth billions of dollars, that exist off its coastline.

One thing Israel really wants to get its hands on are Gaza's offshore natural gas reserves, and specifically those tied to what BG (the BG Group) found in 1999, as well as the discoveries of Levant in 2013.

A "secret" ...

Saltdale is slowly decaying at the hands of the mineral that once made it flourish – SALT

February 22, 2024 -

In the 1910s, the town produced tens of thousands of tons of salt every year. Decades later, the mine supported a community with a school, post office and a company store. Now, all that's left are remnants of an expired town that is slowly decaying, ironically, because of salt.

Saltdale is surrounded by raised ridges of hardened mud that divide Koehn Lake into tiny man-made pools of mushy salt. On top of these ridges are the remains of a once-extensive salt-mining operation....

8 Reasons to stock up on Himalayan salt, the purest and most mineral-rich salt on Earth

a month ago -

Salt may not seem as important as food and drinking water for your prepping stockpile, but this item has many survival and prepping uses around the house. (h/t to FoodStorageMoms.com)

Here are eight reasons why salt is a versatile and essential item in your kitchen, homestead or survival pantry.It's an essential prepping and survival item

Salt is an essential item for prepping and survival. During a power outage or other emergency, you can use salt to purify water....

SUPPLY CHAIN WARNING: China flexes world domination muscle, restricts mineral exports vital for semiconductors and EV battery production

July 13, 2023 -

According to the Wall Street Journal (WSJ), the party's decision to restrict the West's access to the said crucial metals demonstrated CCP's willingness to use its dominant control over mineral resources to disrupt Western supply chains. Neither gallium nor germanium is traded in large quantities and both are important to particular industries, especially the production of semiconductors that are often designed in and for use in the U.S. even if made in Taiwan and South Korea....

Record-breaking gold purchases by central banks observed in Q1 2023

May 09, 2023 -

The World Gold Council (WGC) disclosed this finding in its latest report, noting that demand for the metal from central banks worldwide reached 228 metric tons (MT). This was a 176 percent increase compared to the 82.7 MT from a year prior. "This is all the more impressive, considering it follows the record-breaking pace of demand last year," the WGC said.

ZeroHedge reported that the gold purchases amounted to "the strongest first quarter on record." It also noted that the ...

Argentina on brink of collapse as currency fails, leaving country nearly broke

May 14, 2023 -

As per Buenos Aires-based consulting firm 1816 Economia & Estrategia, the South American nation has already depleted all of its available liquid international reserves, along with an additional estimated $1 billion. This situation further intensifies the challenges faced by the country, as it deals with a historic drought and the looming prospect of a recession, Bloomberg News reported this week.

With limited available cash reserves, concerns are emerging regarding the government's ...

Demand for “critical” rare-earth minerals soars amid rapid growth of “clean” energy industry

July 19, 2023 -

Between 2017 and 2022, according to the latest Critical Minerals Market Review, there has been a "tripling in overall demand for lithium, a 70 percent jump in demand for cobalt, and a 40 percent rise in demand for nickel."

The International Energy Agency (IEA) says the overall market for these and other minerals critical to the energy transition reached $320 billion in 2022, which is double what it was just five years ago. With that comes an increase in prices for rare-earth ...

IMF says SEIZURE of frozen Russian assets must have sufficient legal support

February 16, 2024 -

In an insightful interview with Foreign Policy magazine published on Monday, Gopinath highlighted the complexities surrounding the situation.

The United States and the European Union have collectively blocked an estimated $300 billion in assets linked to the Russian central bank since the commencement of the Ukraine conflict in 2022.

A substantial portion of these frozen assets, amounting to €196.6 billion ($211.5 billion), is currently held by the Belgium-based ...

Zimbabwe defies IMF, sells gold-backed digital tokens to stabilize volatile currency

May 17, 2023 -

According to ZeroHedge, the Reserve Bank of Zimbabwe's (RBZ) sale of gold-backed digital currency "will allow small amounts of Zimbabwe dollars to be exchanged for the digital gold token." This will enable more Zimbabweans "to hedge against currency volatility" – an issue the southern African country has been dealing with for more than a decade now.

The RBZ began selling the gold-backed digital tokens on May 8. Individuals were able to buy the tokens for a minimum price ...

Banker says Russian electricity is 10X cheaper than that of the U.K., at least 4X cheaper than the EU’s

October 19, 2023 -

Anatoly Popov, deputy chairman of the board of Russia's largest lender, disclosed this during a speaking engagement at the Russian Energy Week forum in Moscow.

According to Popov, electricity is cheap in Russia. "If you take the price in Russia and the price that British industries pay, I do not know if there is any industry left with such prices, but the price is almost 10 times lower in Russia than in the U.K.," added Popov.

He also explained that in the EU, ...

Peter Schiff: Fed money magicians running out of rabbits

September 11, 2023 -

(Article republished from SchiffGold.com)

Oil prices continued to climb last week. Meanwhile, bond yields also continue to push higher.

As Peter pointed out, one of the big reasons CPI came down so quickly was falling energy prices.

But Peter said there was another significant factor – President Biden selling oil from the strategic oil reserve. Today, reserves are at a 40-year low.

At this point, the US economy could only run for ...

UN climate chief conducts “doomsday” interview revealing that globalist leaders must become “ringmasters” in pushing green agenda

August 14, 2023 -

Prof. Jim Skea, who was recently installed as chairman of the Intergovernmental Panel on Climate Change (IPCC), the UN's top global warming body, maintains that political leaders need to treat the people they supposedly represent as a literal circus act, which is what ringmasters and ringmistresses do.

To truly fix the climate, Skea believes that a "society-wide" effort is critical, but "political leaders have a particular responsibility because they set the tone for ...

Russia vows to respond in kind if West seizes its frozen assets

January 02, 2024 -

Peskov asserted that Russian authorities had carefully assessed the unpredictability of the opposing side, noting their tendency to disregard international laws. He emphasized that, at present, the idea of confiscating foreign assets in Russia was purely theoretical but indicated that Moscow had prepared in advance for such a scenario.

Highlighting the consequences of the economic sanctions imposed by Western powers, Peskov remarked that they had not initially considered ...

De-dollarization efforts continue: BRICS member nations reduce U.S. treasury holdings to boost local currency value

September 29, 2023 -

Several members of the BRICS economic alliance, including China, Brazil and India, have been divesting from U.S. government-backed assets, primarily U.S. treasuries.

China, the largest foreign holder of U.S. treasuries, reduced its holdings by $13.6 billion in just one month, bringing its total divestment to $117.4 billion over 12 months. Brazil and India also trimmed their U.S. treasury holdings, shedding $2.7 billion and $2.3 billion, respectively.

These moves ...

South Korean convenience store rolling out vending machines that SELL GOLD

June 27, 2023 -

GS Retail, with nearly 14,000 branches all over South Korea, reported that it has already sold a total of $19 million worth of gold bars in the past nine months ending in May. The gold bars were introduced in September 2022 at five of its stores in five sizes, weighing between 0.13 ounces to 1.3 ounces.

"The most popular gold bar is the smallest, the 0.13-ounce one, which is currently priced at around $225," said one representative of GS Retail to UPI News Korea, who added ...

Schizophrenic world order: The West is willing to destroy its financial system to punish Russia

2 months ago -

(Article by Henry Johnston republished from RT.com)

Notwithstanding the reticence being displayed in some quarters of Europe and various admonitions that such an action would be both blatantly illegal and also detrimental to the integrity of the financial system, the idea seems to be taking on a momentum of its own, particularly in Washington and London.

What we are seeing is a vivid example of the type of thinking that places perceived short-term gains ahead of a ...