Courtesy of Mish.
On December 17, ZeroHedge asked Will Putin’s Next Step Be To Sell Gold?
On December 18, ZeroHedge answered his own question wrongly with Russia Has Begun Selling Its Gold, According To SocGen.
I did not believe that when I saw it yesterday, and I sure don’t today after viewing a few charts from Nick at Gold Charts “R” Us.
Russia Gold Reserves Up 600,000 Ounces for November
In US dollar terms, Russia’s gold reserves are worth about $0.4 billion less.
Russia Gold Reserves in US Dollars
Of course, Russia may have started selling in December, but that’s not precisely what happened either.
Gold Chat Debunks Russia Selling Gold Rumor
Please consider this snip from the December 19 Gold Chat article ZH fail on Soc Gen fail on Russia selling its gold.
As is common in internet land, people pick up stuff by others without doing basic drilling down to the source. The reason you have to do this is because people often misinterpret the source. Other times the source is wrong.
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