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Share to： Palladium, never simple - Russia's 'game of thrones'
In particular, after palladium replaced platinum and rhodium as catalysts for automobile exhaust, consumer demand increased significantly. So, 1990s palladium fits all the ingredients of a typical commodity game:
1. Demand increment; 2. Supply problem; 3. Purpose of speculation; 4 political purpose
After China's accession in 2001, the U.S.
It is hoped that Russia will simply abolish the quota system and eventually make Russia give up the platinum
And palladium's global pricing power; Russia began handing over the global pricing of palladium to South Africa in 2000, giving it a decisive role in the market.
The protagonists behind the palladium may still be the same -- let's unmask them!
This, coupled with the collapse in oil prices in 2014-15, presents significant challenges for the Russian economy, much like the country's fiscal situation in the mid-1990s.
In previous years, when the Russian economy was in the doldrums (before 2014), the Russian state Treasury continued to acquire reserves, re-establishing strategic stockpiles of palladium, and of course how much palladium was in the Russian market
Very much, but nobody really knows how much palladium there is in Russia, palladium is a niche market, so the behavior of the Russian state Treasury is very easy to cause market price fluctuations, and in 2014 began to open with the Russian finance
It turned sour when Mr Potanin told Russia's state coffers that it was willing to pick up the palladium inventory in the state vault through its Interros, although the vault initially signalled its reluctance to sell its strategy
Inventory has always rejected bertanin's proposal, but until 2015, the Russian government's fiscal budget continuously exceeded the budget, resulting in a growing fiscal deficit, in order to make up for the fiscal deficit, Russia needs to take all kinds of measures to sell
Gokhran's precious metals from the state's precious metals and gemstones reserve are among the options. The palladium sold by Gokhran from the Russian state Treasury during the two years from 2016 to 2017 did not find its way into the market, but was sold by oligarchs such as potanin
The Global Palladium Fund was born by the continuous buying and holding of financial assets. At the same time, on international market, already somebody felt the tuyere of similar in those days ahead of schedule same
The story goes that since the end of March 2014, South Africa's united bank and standard bank started to cooperate with the issuance of palladium EFT fund, which increased the investor interest in the precious metal and joined the way of stockpiling palladium for financialization
News that Goldman sachs, HSBC, South Africa's standard bank and basf group had been accused of manipulating the platinum and palladium fixing mechanism was not only reminiscent of the mysterious Wall Street fund that bought 1.1m ounces
1. Demand increment; 2. Supply problem; 3. Purpose of speculation; 4 political purpose
After China's accession in 2001, the U.S.
It is hoped that Russia will simply abolish the quota system and eventually make Russia give up the platinum
And palladium's global pricing power; Russia began handing over the global pricing of palladium to South Africa in 2000, giving it a decisive role in the market.
The protagonists behind the palladium may still be the same -- let's unmask them!
I'd like to focus on one person -- his name is vladimir potanin
The vast majority of the population of Norilsk in the gulag archipelago is bortanin's Norilsk Nickel, the world's largest palladium deposit
The company. Mr Potanin made his first fortune when he opened the export-import bank in 1993. This was at the beginning of Russia's denationalization reforms, known as chubais privatization or bond privatization, which were carried out
State assets are allocated by issuing privatization bonds to all citizens. With the support of other oligarchs, potanin devised the famous "loan-for-share" program, in which the government sold shares in state-owned enterprises to private investors
Banks and financial institutions in exchange for much-needed loans are in potanin, along with a string of industrial companies such as Sidanko, Russia's fifth-biggest oil company.
In 1996, potanin made a major contribution to yeltsin's re-election in the presidential election. He was appointed as the first deputy prime minister of yeltsin's government to focus on economic reform, making him the highest official of all oligarchs.
During his first year in office, he was accused of peddling power for personal gain. One of them was a targeted tax cut that saved Norris nickel a huge amount of tax.
So you may Interros a company:
INTERROS was just a simple trading company that Mr. Bertanin and Mr. Prokhorov set up.
Prokhorov took over Russia's largest nickel and gold producer at the time of the collapse of the Soviet union. He was also chairman of Russia's largest gold producer and boss of the associated export-import bank, which prokhorov and bertanin later owned
The INTERROS holding company is packaged up with INTERROS's assets, which span finance, energy, metals and resources
Russian giants in the world;
Mr. Prokhorov ended his political career with interros in 2007, just before the financial crisis.
On June 25, 2011, he was elected leader of the right-wing cause party.
To introduce Norilsk Nickel:
But what's important here is the supply of palladium. Norilsk Nickel controls the incremental amount of palladium, while another important person controls the amount of palladium.
This, coupled with the collapse in oil prices in 2014-15, presents significant challenges for the Russian economy, much like the country's fiscal situation in the mid-1990s.
In previous years, when the Russian economy was in the doldrums (before 2014), the Russian state Treasury continued to acquire reserves, re-establishing strategic stockpiles of palladium, and of course how much palladium was in the Russian market
Very much, but nobody really knows how much palladium there is in Russia, palladium is a niche market, so the behavior of the Russian state Treasury is very easy to cause market price fluctuations, and in 2014 began to open with the Russian finance
It turned sour when Mr Potanin told Russia's state coffers that it was willing to pick up the palladium inventory in the state vault through its Interros, although the vault initially signalled its reluctance to sell its strategy
Inventory has always rejected bertanin's proposal, but until 2015, the Russian government's fiscal budget continuously exceeded the budget, resulting in a growing fiscal deficit, in order to make up for the fiscal deficit, Russia needs to take all kinds of measures to sell
Gokhran's precious metals from the state's precious metals and gemstones reserve are among the options. The palladium sold by Gokhran from the Russian state Treasury during the two years from 2016 to 2017 did not find its way into the market, but was sold by oligarchs such as potanin
The Global Palladium Fund was born by the continuous buying and holding of financial assets. At the same time, on international market, already somebody felt the tuyere of similar in those days ahead of schedule same
The story goes that since the end of March 2014, South Africa's united bank and standard bank started to cooperate with the issuance of palladium EFT fund, which increased the investor interest in the precious metal and joined the way of stockpiling palladium for financialization
News that Goldman sachs, HSBC, South Africa's standard bank and basf group had been accused of manipulating the platinum and palladium fixing mechanism was not only reminiscent of the mysterious Wall Street fund that bought 1.1m ounces
Palladium division involved in the squeeze in Russia.
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