Logo of Central Bank of Russia
Russia Moving to Gold Standard?
Christian Gomez | The New American
28 January 2011
Russia announces that it will increase its gold reserve by 100 tons every year, alluding a to a new Russian gold standard ruble as a new global reserve currency to replace the U.S. dollar.
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Just for comparison, the 775 tonnes of gold are less than ten percent of the US gold reserves which are 8,100 tonnes.
Where? In Fort Knox? The Stock Market?
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Originally Posted by Zippyjuan
Their currency design is unappealing tho. As much as I love Rodina..
assuming we truly do own it all, and there aren't elaborate swap agreements in place.
Can't see it ever hAppening
I dunno, it might. Putin is ex-KGB, and the regime in the Kremlin might be going for currency hegemony now that the US regime is buried in debt. We'll see.
They could use another , less valuable metal as well ...
I'd say US reserves are exaggerated until proof otherwise
"Rebellion to tyrants is obedience to God."--Thomas Jefferson
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