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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (37179)	4/15/2011 10:32:45 AM
From: No Mo Mo	1 Recommendation Read Replies (1) \| Respond to of 71407

Yikes! jessescrossroadscafe.blogspot.com 15 April 2011 A Run On the Central Bank of Belarus Forces Halt to All Gold Sales in Fear of Currency Devaluation I was a little surprised the people fled to gold and tried to drain the central bank, trying to get out of their fiat currency ahead of a suspected devaluation. This is how it happens, on a smaller scale. I was in Moscow in the 1990's when they were fleeing the Russian rouble for gold, diamonds and US dollars. Apparently the US dollar is no longer a safe haven there. Belarus is small. When a bigger ship starts to founder, the lifeboats will be very crowded. ReutersBelarus Central Bank Halts Sales of Gold for Roubles MINSK, April 15 (Reuters) - Belarus' central bank has stopped selling gold to local retail customers for Belarussian roubles it said on Friday, after demand for precious metals soared due to expectations of a currency devaluation. The bank did not explain its decision. Belarus is in talks with Russia on a $3 billion bailout package that Minsk hopes will help it avoid a painful devaluation of the rouble and offset the large current account deficit. Belarussians bought 470 kilograms of gold from the central bank last month, up from 209 kilograms in January and February together, as they sought to protect their savings. Analysts say that Belarus will have to eventually devalue the rouble by about 20-30 percent even if it receives aid from Moscow. However, the central bank has said it would not make any such moves until late April.