03/28/22

Permalink It's Official! Russia Central bank Announces Ruble Bound to Gold!

The Central Bank of Russia has officially announced that, as of March 28, 2022, the Russian Ruble currency is BOUND to Gold. The rate is 5,000 Rubles per gram of gold bullion.

If Rubles are bound to Gold at 5000 Rubles per gram, and there are 28 grams per ounce, meaning one ounce of gold would cost 140,000 Rubles, then converting that to US Dollars means Gold is $1400 per ounce when using Rubles, instead of $1,928 per ounce using Dollars. Russia just wiped out about thirty percent (30%) of the value of the US Dollar, worldwide, when it comes to Gold Bullion. People around the world will be literally THROWING their money at the Ruble and DUMPING Dollars and EUROS to do it. What Russia just did is the financial equivalent of detonating a nuclear bomb. [...] The last guy on this planet who tried to back a currency with Gold, was Muammar Quadaffi of Libya.

Ruble flexes muscle as Russia trailblazes new economic path (RT.com)
India about to switch to domestic currencies in trade with Russia (RT.com)

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