Actually so was I and all we hear is; “The ruble is backed by gold”…
Sorry, but the ruble is not backed by gold. It is backed, but not actually by gold, as in a “GoldenRuble”…
What Russia is actually doing is supporting gold with the ruble. Thus, to prevent the ruble from rising faster than gold in value…
In a move that borders upon amazing in this fake fiat paper world. The ruble is actually backed by and tied to oil, gas, lumber, minerals and or just call it resources. This makes it a PetroRuble….I myself like RR short for Resources Ruble. Like the double headed Russian Eagle, use double R for the ruble…
Which by the way, here is the kicker up the wazoo…
The resources of Russia are anchored by gold. Gold is money, ruble is resources and money is supported by resources and ruble is the exchange method, between money and resources…
Now let that sink in…
WtR