Why is Putin stockpiling gold?

[n2doc]

I can’t imagine it means anything cheerful that Vladimir Putin, the Russian czar, is stockpiling gold as fast as he can get his hands on it.

According to the World Gold Council, Russia has more than doubled its gold reserves in the past five years. Putin has taken advantage of the financial crisis to build the world’s fifth-biggest gold pile in a handful of years, and is buying about half a billion dollars’ worth every month.

It emerged last month that financial gurus George Soros and John Paulson had also increased their bullion exposure, but it’s Putin that’s really caught my eye.

No one else in the world plays global power politics as ruthlessly as Russia’s chilling strongman, the man who effectively stole a Super Bowl ring from Bob Kraft, the owner of the New England Patriots, when they met in Russia some years ago.

more
http://www.marketwatch.com/story/why-is-putin-stockpiling-gold-2012-09-05

[Turbineguy]

1. Putin and Romney

plan to buy the US National debt, sell it back to the US taxpayers for double and split the profits.

[Po_d Mainiac]

2. The easy answer

Because the chairsatan and Drahgi can't destroy it

[Demeter]

3. Correlation: Some people are fools enough to sell gold for paper

A fool and his gold are soon parted.

[Fuddnik]

4. He has a Swiss bank account?

[j8h9]

5. It's not just Putin

They are preparing in the event of a economic collapse. Gold will rule in a post-global collapse.

Russia
According to the World Gold Council, Russia has more than doubled its gold reserves in the past five years. Putin has taken advantage of the financial crisis to build the world's fifth-biggest gold pile in a handful of years, and is buying about half a billion dollars' worth every month.
http://www.smartmoney.com/invest/strategies/why-is-putin-stockpiling-gold-1346874049493/


China
The Hoarding Continues: China Has Imported More Gold In Six Months Than Portugal's Entire Gold Reserve
http://www.zerohedge.com/news/hoarding-continues-china-has-imported-more-gold-six-months-portugals-entire-gold-reserves

Today the US dollar is the worldwide standard. Some experts say in the next decade we will lose that status as our economy and the country continue to decay.
the case for the yuan to become the world's next reserve currency:
http://www.mining.com/surging-chinese-gold-imports-and-the-worlds-next-reserve-currency-73101/


Iran
Iran Gold Imports From Turkey Surge To $8 Billion YTD As Gold Increasingly Used As Currency
[link:http://www.zerohedge.com/news/iran-gold-imports-turkey-surge-8-billion-ytd-gold-increasingly-used-currency|http://www.zerohedge.com/news/iran-gold-imports-turkey-surge-8-billion-ytd-gold-increasingly-used-currency
]

[Ikonoklast]

7. Countries whose currency is crap all buy gold.

They are the ones most susceptible in a world-wide economic downturn, they are turning their worthless paper into dollars then into gold.

[westerebus]

6. It tastes good and is less filling.

Plus in his old KGB days, no one would take Rubles. Gold, Da. Paper, Nyet.