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Close Call For US Banks
Russian Gold Reserves
According to Casey Research, "there are no stories about it on the international wire services yet... but I have the gold reserves page of The Central Bank of the Russian Federation bookmarked. On Friday they updated their gold reserves for the month of May, and they show an increase from 21.5 million to 22.6 million ounces in one month. I mentioned in May, when they updated for April, that I was expecting a far bigger number than the 200,000 ounces they reported back then. Well, it finally showed up in May. The 1.1 million ounce purchase is their biggest one month increase, ever. Year-to-date, the Russian Central Bank has added 2.1 million ounces of gold to their reserves. Here's the updated graph".