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…
Windows to Russia!
- Do You Wonder Why Russia is Buying Gold? (windowstorussia.com)
- Russia Has Police… (windowstorussia.com)
- Don’t Come to Russia and Coffee Thoughts… (windowstorussia.com)
- Russia Says Slow Down On Libya Issues… (windowstorussia.com)
- Russia marks Defender of Fatherland Day… (windowstorussia.com)
- Third State of the Nation Address by Medvedev… (windowstorussia.com)
- Oil prices to drive inflationary pressure (rt.com)
- Will Terminated Mayor Yuri Luzhkov be back to Russia? (windowstorussia.com)
- What is Russia Up To… (01/19/2011) (windowstorussia.com)
- Russians Are Wanting To Come Home or Grass is not Always Greener? (windowstorussia.com)