NeonRevolt: “I don’t think people realized what just happened over the past few days, so I’m going to try to explain what I’m seeing:

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@NeonRevolt

I don’t think people realized what just happened over
the past few days, so I’m going to try to explain what
I’m seeing:

The Russian central bank pegged 1 gram of gold to
5000 Rubles (currently, about 50 bucks).

At the same time, Putin made it so that Russian gas and
oil can only be purchased in Rubles.

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Meaning: Putin basically just pegged Russian oil and
gas to gold, using paper rubles as a proxy.

Meaning: Europe will need to either buy Rubles from
Putin in gold, in order to buy gas and oil, or they will
have to buy directly in gold. Which means, there will
soon be a lot more demand for rubles.

Currently, the forex rate for rubles to dollars is about
100:1.

h/t dr0id

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