How did Ukraine get 200 tons of gold

[Anonymous No.50440003]

How did Ukraine get 200 tonnes of gold?

Recently, news shows that Ukraine sold 12.4 billion $ worth of gold. >https://www.reuters.com/world/europe/ukraine-cbank-has-sold-over-12-bln-its-gold-reserves-during-war-deputy-head-2022-07-17
At a gold spot value at around 1800$/oz, that comes out to ~6.9 million ounces of gold, or roughly 214 tonnes.
Now, after a bit of googling, I could only find number saying Ukraine’s gold reserves was around 27 tonnes.

How did Ukraine manage to acquire - much less sell - 214 tonnes of gold, if they only have 27 tonnes in reserve?

There are several possibilities (feel free to expand):

>1. Ukraine has a much larger reserve of gold than previously reported
It is entirely possible that Ukraine has (severely) under-reported their gold reserves, in the (foreseeable) event of a Russian invasion. Considering the GDP of Ukraine is around 155 billion $ (give and take), it's certainly POSSIBLE that Ukraine has amassed a large quantity of gold over the years - However, it would likely require a relatively amount of taxation. Alternatively, they could have mined the gold themselves.
Berehove mine in Ukraine - supposedly has 14.4 million ounces of gold, so it's certainly a possibility.
>https://en.wikipedia.org/wiki/Berehove_mine
Usually, gold from gold mines is sold on the market to have enough funds for operating...

>2. Ukraine confiscated the gold holdings of its citizens and/or Russian oligarchs
With all respect to the Ukrainian people, they are not the wealthiest nation. 6.9 million ounces of gold is roughly 0.15 ounces per citizen of Ukraine (44.1m people). From a population whose average wage is around 845$ per month, it would be a big investment. Ukraine could have confiscated Russian oligarchs’ gold holdings - if they were in Ukraine. But let's be honest - Ukraine would probably not be the best place to have your assets and money safeguarded, even before the Russian invasion.

[Anonymous No.50440013]

>>50440003
>3. Ukraine doesn't have the gold, and sold the gold short
This theory is simple: Ukraine sold 214 tonnes of gold (on "paper"), but didn't actually deliver any of it. In essence, they took out a loan in gold, for fiat dollars now, to be used in the war against Russia. If Ukraine loses the war against Russia, the debt likely won't matter. If they win - well, they'll have to deal with the cost later.

>4. Ukraine lied about selling gold
To say that Ukraine is in a tough situation would be understating it. To conceal their monetary trouble (war is expensive), they could have lied about selling gold, to appear strong. It goes back to the old saying of Sun Tzu: 'Appear weak when you are strong, and strong when you are weak.' Considering difficulties exporting goods, bombed cities and potential crop failures, it's possible that the Ukrainian economy is in a tough position.

[Anonymous No.50440121]

I'd say underreported, but it's an interesting topic

[Anonymous No.50440192]

They were quite rich. 3rd biggest exporter of grain, major steel manufacturer. They are fucked up hardly because of ruskies and they need like $5b MONTHLY to cover all expanses

[Anonymous No.50440249]

>>50440003
Pic related and his friends emptied American and European vaults, transported it to Ukraine, and sold it to Russia and China.

[Anonymous No.50440377]

>>50440192
So, they're burning roughly 80 tons of gold per month? That doesn't sound very sustainable, even if they have large gold reserves

[Anonymous No.50440415]

>>50440003
> muh magic boomer rocks

[Anonymous No.50440439]

>>50440377
They used to cover it by export and production but since ruskies destroyed everything and block ports they have very limited sources of income. They will have to move they reserves and get huge loans from everyone that is willing to do so

[Anonymous No.50441186]

>>50440439
That makes sense.
There's also another alternative, regarding the pricing of gold:

>5. Ukraine sold gold at a higher price than spot
The article mentions "12.4 billion dollars" gold sold, but if there was a massive demand for gold - say, by the COMEX or other bullion market - they may elect to buy the gold above spot price - especially if it is to finance Ukraine. If that is true, it would be tremendously bullish for shiny boomer rocks.

[Anonymous No.50441281]

>>50441186
Also russia is quite big producer of gold amd because sanctions a lot of countries stopped buying it from them

[Anonymous No.50441296]

>>50440003

[Anonymous No.50441336]

>>50440249
And here I thought I would be the first to tell them.
Well played anon, well played

[Anonymous No.50443079]

>>50441281
Isn't India buying from them? They are buying Russian oil, at least. And considering how much gold India uses, it would be odd if they didn't try to scoop some russian gold as well

[Anonymous No.50443144]

>>50440003
lol just like weimar Germany. They're going to have such a fun civil war after they surrender

[Anonymous No.50443200]

>>50440003
It was the Spanish gold from the new world, Stalin had it brought to the ussr before the Republicans lost the Spanish Civil War

[Anonymous No.50444061]

>>50440003
I gave it to them

[Anonymous No.50444188]

Retarded communist shits stole gold from Hungary in the early 1920's, some probably were left in Ukraine
Fuck communists and fuck Putin

[Anonymous No.50444334]

>>50444188
>Ukraine being in ussr stole hungarian gold
>ukraine using this gold
>fuck putin ofc

Predditor detected

[Anonymous No.50445487]

>>50443200
are you a smelly spic by any chance?