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Russian National Wealth Fund Turning to Gold, Dumping Dollars

29 March 2021

SCHIFF GOLD — The Russian Finance Ministry has given the green light for the Russian National Wealth fund to diversify and invest in gold and other precious metals. According to a report by RT, this is part of a broader move to de-dollarize the wealth fund.

The National Wealth Fund falls under the direction of the Russian Finance Ministry. One of the fund’s primary purposes is to support the nation’s pension system. According to the fund’s website, “Fund’s primer assignments are to co-finance voluntary pension savings of Russian citizens and to balance the budget of Pension Fund of the Russian Federation.” The fund can also be tapped to cover government budget deficits in times of a crisis. According to RT, as of November, the fund held more than $167 billion in assets, totaling about 12% of Russia’s GDP.

According to RT, the fund’s move into gold and other precious metals is aimed at diversifying assets to ensure the “safety” of the fund “as well as for increasing the yields.” […]

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3 Comments on Russian National Wealth Fund Turning to Gold, Dumping Dollars

  1. Gold Dinar: the Real Reason Behind Gaddafi’s Murder
    May 3, 2019

    The gold dinar: a groundbreaking initiative

    In 2009, Colonel Gaddafi, then President of the African Union, suggested to the States of the African continent to switch to a new currency, independent of the American dollar: the gold dinar.

    The objective of this new currency was to divert oil revenues towards state-controlled funds rather than American banks. In other words, to stop using the dollar for oil transactions. Countries such as Nigeria, Tunisia, Egypt and Angola were ready to change their currencies. Unfortunately in March 2011, the NATO-led coalition began a military intervention in Libya in the name of freedom….

    Free water, almost free gasoline, free health system and free education were commonplace for Libyans under Gaddafi’s dictatorship.

    The leader, who has been in power for 41 years, has managed to gain the support of all the major tribes and buy social peace through radical measures and a policy of shared oil revenues.

    Jihadism, the number one enemy of the West, Gaddafi eliminated it with Napalm in the 1990s. Although he financed many armed groups in the Sahel, Libya itself was a stable country where the risk of being kidnapped or even murdered by an armed militia was non-existent.

    With an excellent management of oil revenues, the Libyan state had managed to store hundreds of tons of gold (143 tons according to WikiLeaks) and the same amount in silver. All these resources were going to make Libya the most influential country in Africa, supplanting France for example.

    Gaddafi wanted to avoid American influence in his oil transactions by using this gold. He launched the gold dinar project, and other major African governments were ready to support him in this project. It was both an African dream and a nightmare for the West’s financial system.

    The end of the African dream

    This information was discovered through Hillary Clinton’s electronic mailbox. One of the 3000 emails showed NATO’s willingness to overthrow Gaddafi’s government. NATO mainly wanted to to neutralize the African gold currency supported by Libyan oil reserves.

    At the beginning of March, the Libyan army and the many militias loyal to the government had already crushed the rebellion, thanks to their numbers and equipment. However, with Western intervention, the dream of a unified monetary system based on gold and independent of the dollar perished…

    Putin better get people he can trust, to watch his back

  2. quaddafi was a threat to their way of tyrranny and as herr hitler is martyed along with everything else they deem a threat to their degenerate mode eliminate for misery and control and their degeneracy we are at an apix

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