Russia’s: Gold Ruble… (Rouble)
Filed Under (Russia) by admin on 07-04-2011
Tagged Under : Central Bank of Russia, Global Reserve, Gold holdings, Russia
It is well known that Russia has made it clear that they are going to increase their Gold holdings by at least – 100 metric tons a year. Last year alone, the Central Bank of Russia expanded its gold holdings by 23.9 percent to 790 tons. (Link)
What is not well known and thought of is that the main reason they are doing this is to set the ground work for the Ruble to be a Global Reserve Currency…
Whether that will happen or not time will tell but the fact is that Russia is trying to make the Ruble a “Gold Ruble”. Backed 100% by gold just as the dollar was until it was decoupled by Nixon in August of 1971…
The start of this process was instigated recently when the Customs Union treaty was signed between Russia, Belarus, and Kazakhstan and it established a free-trade zone between these countries…
The Ruble it seems is in line to be the main currency for this situation. So as I have been watching the news in Russia. I see that gold is being mined at a furious pace and I see that rules regarding gold holdings and production have changed to the better. I would say that gold will increase faster than stated. Just as the holdings of American dollars has dropped faster than stated…
Read: Coffee and Chinese Bailouts and Russian Gold…
Windows to Russia!
