Russia’s Reserve Fund will reach 1.5 trillion roubles by year end…

Once again Russia is able to stash surplus money again. The last few years have been rough and Russia has been relying on its reserve fund to make up budget shortfalls. But what really strikes me as important is that Russia has virtually no debt. Russia has come out of the depression stung but smiling still. She can and is and did put money away for a rainy day. That has been very instrumental to keeping on budget in the last few years…

So it was announced the other day that Russia’s Reserve Fund will again reach 1.5 trillion roubles by the end of 2011… (Link)

That is about 50 billion American dollars for those that need to know. I remember when it was 150 billion American dollars…

Stop and think a second. (You can scoff all you want and say that is small chump change.) But does America have a reserve fund? You know money for a rainy day? You know money for when the going gets tough and life deals a bad hand of cards…

Leading Foreign Holders of US Treasury Securities
December 2010 November 2010
Nation/Territory billions of dollars (est.) percent of total foreign holdings billions of dollars (est.) percent of total foreign holdings
China 1160.1 26.1% 1164.1 26.4%
Japan 882.3 19.9% 875.9 19.8%
United Kingdom 272.1 6.1% 242.5 5.5%
Oil exporters1 211.9 4.8% 204.3 4.6%
Brazil 186.1 4.2% 189.8 4.3%
Caribbean Banking Centers2 168.6 3.8% 159.3 3.6%
Hong Kong 134.2 3.0% 134.9 3.1%
Switzerland 107.0 2.4% 107.0 2.4%
Taiwan 155.1 3.5% 154.4 3.5%
Russia 151.0 3.4% 167.3 3.8%
Subtotal of top 10 holders 3,428.4 77.2% 3,399.5 77.0%
Grand Total 4,439.6 100.0% 4,413.8 100.0%

No – I did not think so, unless you count the above holders of USA debt as reserve funds by buying bonds and such…

I wish that America was doing as well as Russia was in the financial department. We could be – it is simple math and nothing else…

You spend only what you have and nothing more…

My grandma use to say, “If you need to borrow the money to buy it! You don’t need it…”

She was correct…

kKEETON @ Windows to Russia…

Permission to reprint in whole or in part is gladly granted, provided full credit is given...

A survivor of six heart attacks and a brain tumor, a grumpy bear of a man, who has declared Russia as his new and wonderful home (&) Honestly, I have no idea how much to ask for, but is a gift of even $1 something you'd be able to consider, to help keep Windows to Russia online in a Tiny Russian Village?

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