Tonogold Resources Inc (TNGL)

[joeblow110percent]

Russia Continues to Build its Gold Reserves

“It had been suggested last month that Russia would have to sell some of its gold reserves – the world’s fifth largest national central bank holding (ignoring the IMF’s holding) – to help prop up the ruble. The Russian currency has been driven down, almost in freefall for a time, by the unholy alliance of drastically falling oil and gas prices coupled with U.S. and European sanctions over the Crimea annexation and possible Russian involvement in the continuing uprising by pro-Russian rebels in Eastern Ukraine.”

“But, the opposite has been the case. The Russian Central bank announced yesterday that its gold reserves grew by a further 600,000 ounces (18.7 tonnes) in December – the ninth successive month of gold reserve increases. Clearly President Putin is a believer in the ultimate economic benefits of a strong national gold holding – particularly if some kind of global reserve currency realignment lies ahead in the relatively near future.”

“As a Reuters report points out, Russia has now more than tripled its gold reserves in the past ten years, even as it recently has presumably had to use some of its its international currency reserves to defend the ruble with the national economy having been driven to the brink of recession. The ruble slid almost 50% in the past 12 months which makes the nation’s gold reserves ever more important to its global economic status.”

http://www.mineweb.com/russian-continues-build-gold-reserves/


Tonogold Top Ten updated - January 2015!
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Your Due Diligence starts here:

http://investorshub.advfn.com/Tonogold-Resources-Inc-TNGL-4288/

This is my humble opinion and speculation. This is not a recommendation to buy or sell. Please do your own DD.


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