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International Reserves of Russia Reach New High

27Jan

By Victor MuravyovNo Comments

Economics, Finance, International Affairs, NewsBite, Politics

International Reserves of Russia Reach New High

https://twitter.com/victormuravyov/status/1486699490459496455 International Reserves of the Russian Federation have reached 639.6 billion (valued in USD) according to the Central Bank of the Russian Federation. This new high places Russia as the 4th largest country by foreign exchange reserves. This appears to be a good move among a tumultuous market and increasing threats of sanctions as well as the weakening influence of the dollar. Read More

Russia and China Announce New Sino-Russian Financial Structures

Russian President Vladimir Putin and Chairman Xi Jinping In a move that appears to be in response to Western efforts to disconnect Russia from the SWIFT financial system (which functions as an intermediary and executor of financial transactions between various banks globally) in an attempt to restrain and sanction the financial welfare of Russia, China and Russia have announced that they will develop shared financial structures in order to allow them to strengthen economic ties in a way that will make it impossible for foreign states to intervene or influence. During today’s talks, President Putin and Chairman Xi Jinping announced their intent to increase the share of national currencies in mutual settlements and to expand cooperation between the two nations in order to provide more...

The Case for Silver.

Silver has had an interesting last two years, with $PSLV being at a low of 4.77 USD (20th march) during the 2020 stock market crash and reaching a high of just over 10 USD in under 5 months on the 7th of August. Silver now sits at 8.73 USD (at the time of writing) after dropping over 3% today. Across the last few months, silver has lost much of its momentum from retail traders circulating internet forums and micro-blogging sites. However, this doesn’t mean potential investors should ignore the still-significant potential of silver and $PSLV (a closed-end trust investing in silver bars). Many continue to believe that the precious metal is still undervalued. In the early 18th century, Isaac Newton monetized silver – setting the ratio between gold and silver at 15.5, which held until 1...