The backstopping of the Ruble with gold can come in many forms and doesn’t have to be a direct peg from the Ruble to gold - it can include accepting payment for oil in gold.
If the USD “value” is considered in terms of purchasing power of commodities it has collapsed in recent time whereas the Ruble has soared in “value”.
The tell is in, but not yet fully manifest.
Has Russia also then gained solvency?
As the USD fiat currency world backed only by debt and political power begins to fail - the empire falls. History repeats.
The forces that cause this transition has been building for many years now, there may be a sudden event coming. Best to be positioned in advance, there may be little to no time to act when the audience realizes the theatre is burning and all rush for the exits.
We’re there already:
“ If they want to buy, let them pay either in hard currency, and this is gold for us, or pay as it is convenient for us, this is the national currency. As for friendly countries, China or Turkey, which are not involved in the sanctions pressure. We have been proposing to China for a long time to switch to settlements in national currencies for rubles and yuan. With Turkey, it will be lira and rubles. The set of currencies can be different and this is normal practice. You can also trade bitcoins,” Zavalny commented at a press conference at the Rossiya Segodnya MIA multimedia center.
As predicted and recommended by this guy. The goldenruble to beat the petrodollar.
Preparing for the end of the Petrodollar: a case for Russia settling energy prices in RUB
In this paper we discuss why and how Russia needs to shield herself from the negative consequences of the US dollar’s worldwide financial domination. The apparent political will of the Russian regime to transform the ruble into a reserve currency has to cope with the objective reality of a ruble perceived as a nonreliable store of value. The proposition of starting to settle energy exports in rubles is explored. The paper is organized around a series of chapters dealing with political, economic and financial matters pertinent to the actual Russian predicament, including an analysis of the ruble’s weaknesses and strengths. In the conclusion the author argues that the ruble in its present form is way too weak to become a hard currency and therefore a reserve currency. The case for linking the ruble to gold is proposed in parallel with a cautious increment of the ruble’s use in Russia’s energy contracts, bearing in mind that the Russian economic reality is partially that of a petrostate.
Gold isn't a sound money, but Bitcoin is. The hardest money always wins and Bitcoin is the hardest money that mankind has ever known in the history of civilization. What you're witnessing is the beginning of Bitcoin as the new global reserve asset. It's silly that you keep talking about gold when nobody cares about it anymore and its an archaic relic that serves no useful purpose in the modern world.
meanwhile, Brandon said he sees food shortages in europe and the us....
We have been seeing food shortages since Thanksgiving 2021, it grows weekly, as does the prices, blamed on the now discredited China Flu. Made worse by Fauci's killer vaccines and drugs. For farmers/ranchers/truckers, Seniors, it can mean bankruptcy. Retirement taxes to increase, Digital Money. I saw it in action this past week, I don't like or believe it is CONSTITUTIONAL TO VIDEO RECORD, ME USING MY OWN CREDIT CARD. NO CASH, JUST CARD, NO CASH BACK, Cash will be obselete, To many Christians that equals 666 THE MARK OF THE BEAST PROPHECY. Tracking is what I do best. This morning it led me here. THANK YOU RAVEN for making it a Free article.
https://kanekoa.substack.com/p/how-obama-and-biden-installed-neo?s=r I've been told he's wrong, not from my reading, I'll let you judge.
ROFLOL, A semi takes 125-300 gals of fuel, tires, oil, transmission fluid, brakes, At Cali prices over $2,300 a fill https://www.breitbart.com/politics/2022/03/24/democrats-propose-cash-rebates-counter-bidens-soaring-gas-prices/
I believe a global trend is in motion - a trend toward greater resiliency. For sovereign nations and their reserves. For countries and their supply chains. This will produce a reshuffling and the best way individuals can hedge themselves is to build resilient lives.
We may already be at that point now.
Yep, I bet the European countries are stockpiling rubles so they can continue to buy Russian oil and gas. Not. Only desperate energy buyers will pay gold for oil. They will do everything they can to find a supplier that takes USD. I think gold priced oil would need to be sold at a tremendous discount to USD priced oil, which would not be a positive for gold. I am long-term positive about gold, but I don't think Russia trying to save the ruble with some gold pricing scheme will be the catalyst.
We've almost come full circle. Nixon will be chuckling in his grave at all the damage he enabled.