CNBC/Natasha Turak/3-1-2022
“Lines at ATMs snaked down sidewalks and around buildings in Moscow and at Russian banks in Europe as depositors rushed to withdraw cash. Sberbank Europe, which is owned by Russia’s state-run Sberbank, says it has experienced ‘significant outflows of deposits in a very short time.’”
USAGOLD note: Kitco News reported back in December that Russian citizens had gone on a gold buying spree stockpiling four tonnes of the metal in the form of coins and bullion. It might be cold comfort for those buyers as the Russian people experience a currency collapse first hand, but it is a comfort nevertheless.
