Russia’s $186 Billion Sovereign Wealth Fund Dumps All Dollar Assets

THE DC/USA which is a City State holding 47 Staes, 2 Republics and a Polynesian kingdom under military Occupation (think of the City of Romes sucking the wealth from conquered countries to fund the party in the City of Rome, until the Roman Empire collapsed) to fund the party of the pedophile “elite” families holding forth in Sodom & Gomorrah on the Potomac, will stop making war on Americans and the world at large when no one will take their counterfeit fiat paper “money” (money is backed by something of intrinsic value currency not backed by something of intrinsic value is fiat) for bullets, bombs and jet fuel to murder 3ed world goat herders for profit & perverse pleasure any longer.

Now I am just a hillbilly Texican, but my advice would be to suck all funds out of 401Ks, savings accounts, banks and buy physical silver before the real stampede starts and it is no longer available.

Failing that go for precious metals such as gold, brass & lead in the caliber of your choice.
Throwing in a few sacks of dry pinto beans and canned goods is not a bad idea either.

The Ole Dog!

Following a series of corporate cyberattacks that American intelligence agencies have blamed on Russian actors, Russia’s sovereign wealth fund (officially the National Wellbeing Fund) has decided to dump all of its dollars and dollar-denominated assets in favor of those denominated in euros, yuan – or simply buying precious metals like gold, which Russia’s central bank has increasingly favored for its own reserves.

Finance Minister Anton Siluanov made the announcement Thursday morning at the annual St. Petersburg International Economic Forum.

“We can make this change rather quickly, within a month,” Siluanov told reporters Thursday.

He explained that the Kremlin is moving to reduce exposure to US assets as President Biden threatens more economic sanctions against Russia following the latest ransomware attacks. The transfer will affect $119 billion in liquid assets, Bloomberg reported, but the sales will largely be executed through the Russian Central bank and its massive reserves, limiting the market impact and reducing visibility on what exactly the sovereign wealth fund will be buying.

“The central bank can make these changes to the Wellbeing Fund without resorting to market operations,” said Sofya Donets, economist at Renaissance Capital in Moscow. “This in some sense a technical thing.”

Jordan Rochester, currency strategist at Nomura International PLC, said, “This is a transfer of euros from the central bank to the wealth fund, we’ll then see the central bank the holder of the USDs and it’s up to them to manage it. No initial market impact.”

MORE USA FIAT “DOLLAR” DYING:
https://www.zerohedge.com/markets/russias-186-billion-sovereign-wealth-fund-dumps-all-dollar-assets

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