Is Russia Going To Back Their Currency Rubles with Gold?

Sharing is Caring!

The central bank in Russia just announced they will buy gold at a specified rate from its banks for the next three months. While this rate is under the current price of gold, it effectively pegs the ruble to gold and sets a floor underneath the gold price. The real fun starts if Russia decides to price oil in rubles or gold after this move. They could effectively force the world onto a new gold exchange standard.

The story is not confirmed yet…

See also  Diesel Prices just hit another record high, which means Milk is going to $10 per gallon
Help Support Independent Media, Please Donate or Subscribe:
Trending:
See also  New Russia/China Gold Backed Currency Imminent

Views: 52

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.