Russia's central bank has a new head, and he's telegraphing some definite messages:

UPDATE 3-Russia to keep buying gold - Ulyukayev

In previous blogs and video blogs, I have suggested the idea that the moves afoot to repatriate gold, particularly in Germany's case, would not be occurring if there was not a reassessment taking place quietly and secretly within the councils of government. That reassessment, I have argued, includes an understanding of the Bearer Bond Scandal as being an indicator of a vast amount of fraud in the financial system of the West, fraud that was used to support the military machine of the West and of the USA in particular. As America's actions seemingly become increasingly bellicose and imperialistic, the decision appears to have been taken to pull the plug on this system. Germany, I argued, would not be pursuing this course alone, without the backing of another major power, in this case, Russia.

Which puts that opening paragraph of this article into an interesting perspective:

"The Russian central bank will continue to buy gold as it seeks to diversify its foreign reserves away from paper assets it views as risky, First Deputy Chairman Alexei Ulyukayev said on Thursday."

Translation: the US Dollar and any US Dollar-denominated securities (i.e., US Treasuries and any other bonds connected to the US federal leviathan) are suspect and therefore no longer trustworthy. Russia is diversifying in order to continue to conduct international trade. Further translation: yet another step has been taken signalling the looming abandonment of the dollar as the global reserve currency.

This is signaled by yet another interesting series of statements:

"Ulyukayev, 56, has weighed into an intensifying debate over the 'currency wars' that have broken out as advanced economies pursuing aggressive monetary stimulus in a bid to grow their way out of a debt trap.

"He recently accused Japan of "protectionist monetary policy" and, detailing the current composition of the central bank's foreign exchange reserves, he made no mention of the yen.

"According to a breakdown given a year ago, the central bank held 1.6 percent of its forex reserves in yen. It was not immediately clear whether or when that position had been sold."

Basic transalation: so long as Japan remains in the Western orbit, it will be viewed as tainted by the same untrustworthiness as the rest of the Western system. This, of course, is vastly overstating the case, and there are pressing reasons why Japan's own national fiscal policy has led to this condition, over and above any part it plays within the wider system.

The bottom line here is this, folks: the financial situation is now hardening into geopolitical realignments... when this is over, I believe the current tapestry of international relationships will look very different. And that translates to: watch Germany and Italy very closely.

See you on the flip side.



Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and "strange stuff". His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into "alternative history and science".


  1. Frankie Calcutta on January 31, 2013 at 7:54 am

    This Italian bank scandal may be the one to watch:

    Comes on the heels of the EU’s (Germany’s) new power to audit other major EU banks. Possibly the reason why the British want to now leave the EU?

    And here is somebody turning up the heat on the British:

    Or do the Argentinians smell blood?

    • Joseph P. Farrell on January 31, 2013 at 3:46 pm

      Great finds Frankie…I saw the one about the Monte dei Paschi.

  2. aueg on January 30, 2013 at 8:24 pm

    i did liked ur insights today joseph, but dis is a terrible arena, germany has tryed to break loose from western genocidal agenda, but has lost on terrorist political ataks, now dey cud’ be facing da weather terrorism as japan, dis late forced to submit to western powers. but rusia has da technology to defend germany on dis haarp war, i hope…

  3. Robert Barricklow on January 30, 2013 at 1:41 pm

    Max Keiser’s Tuesday show focused on Japan’s suicide move in the currency markets. The second half was great as he had a MI6 whistleblower give a run down on what is going on. It’s a race she says between the worldwide industria/military/security apparatus & liberty. And its going to be close.
    She was optomistic that the people will win out over tyranny.

  4. incognito on January 30, 2013 at 6:31 am

    Russia’s is not the only central bank accumulating gold, it’s almost all of them. You know that these central banksters fly to BIS headquarters monthly? Just like during WWII (and probably WWI), the same crowd is pulling the strings behind the curtain. The geopolitical realignment is coming but it’s not how you think it is.

    There is a group of people within the American intelligence/military community who re in defiance of the banksters enforcement entity (IsRaHell). I believe they are the target of this loaded gun to the dollar’s (and America’s) head. With a propeganda organ that Hitler would be proud of posing as America’s national media, ownership and ability to destroy the currency and send America into national pandemonium, I’d say this is a real pickle.

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