this post was submitted on 20 Nov 2025
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Russia Starts Selling Off Its Gold Reserves to Fund the War Budget, Breaking a Long-Held Taboo (united24media.com)
submitted 1 month ago by OutForARip@lemmy.ca to c/world@quokk.au
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[–] Tar_alcaran@sh.itjust.works 4 points 1 month ago (1 children)

Isn't that what gold reserves are for? A last resort?

[–] Womble@piefed.world 5 points 1 month ago (1 children)

Yes, but also to use as collateral to borrow against. This is burning the furniture to stave off the cold.

[–] Tar_alcaran@sh.itjust.works 2 points 1 month ago

Well, If you're maxed out on loans, you might as well sell off the collateral. What are they gonna do about it?