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It's Official! Russia Central bank Announces Ruble Bound to Gold! 5000 Rubles per Gram

serfserf Member Posts: 9,225 ✭✭✭✭
edited March 28 in Politics


I wonder if this is going to become a trend soon over The World? More value than a US dollar when converted? Bingo! No wonder Biden wants him taken down. This has not be verified by me.

serf

https://halturnerradioshow.com/index.php/en/news-page/world/it-s-official-russia-central-bank-announced-ruble-bond-to-gold-5000-rubles-per-gram

If Rubles are bound to Gold at 5000 Rubles per gram, and there are 32 grams per TROY ounce, meaning one ounce of gold would cost 160,000 Rubles, then converting that to US Dollars means Gold is $1600 per ounce when using Rubles, instead of $1,928 per ounce using Dollars.

Comments

  • Ricci.WrightRicci.Wright Member Posts: 4,507 ✭✭✭✭
    edited March 28

    No. Nobody that matters is going to stop taking good old U.S dollars. It will remain the most desired currency in the world. Just more stirring crap. Buy gold. Buy silver. Buy yen. Buy rubles. Buy a cup of coffee and relax cause it will be just fine. Even with President Budden running amuck,

  • BobJudyBobJudy Member Posts: 5,384 ✭✭✭✭

    So what you are saying is that we should all convert our dollars into rubles and buy Russian gold at $1600/ounce and then sell it here for dollars at $1928/ ounce. Sounds like a plan - I'm in!

    Sounds to me like someone didn't think this through. If the Russians are actually going to do this and will redeem their currency for gold at that rate, soon they will have zero gold. If they won't redeem currency for gold then it is just another form of, Serfs favorite term, fiat currency and nothing in effect has changed. Bob

  • serfserf Member Posts: 9,225 ✭✭✭✭

    Yep but it works well when you are shopping in China,Iran,India or I bet even Israel.

    serf

    Israel’s statements reflect actions, or, rather, inactions. On Friday, the Times of Israel reported that the Lapid-Bennett government had rejected the Biden Administration’s request to co-sponsor a United Nations Security Council resolution condemning Russia’s actions. On Monday, Lapid issued a statement saying that Israel would vote with the United States in the General Assembly in favor of the resolution, while holding off on supporting sanctions against Russia.

  • mike55mike55 Member Posts: 2,259 ✭✭✭✭

    "Buy a cup of coffee and relax cause it will be just fine. Even with President Budden running amuck."

    ^^I ONE HUNDRED PERCENT DISAGREE!^^

    One man can and HAS brought this country to it's knees. If we don't get him out, and his cronies, then it very well will NOT be just fine!

  • Ricci.WrightRicci.Wright Member Posts: 4,507 ✭✭✭✭

    Well, my friend there isn't much that can be done before Jan. 2025 when a new president is sworn in. Maybe the repubs take control of the congress in the midterm but either bidden or harris will still be there.

  • mike55mike55 Member Posts: 2,259 ✭✭✭✭

    I agree, but republicans taking the house AND senate would be a good START!

  • serfserf Member Posts: 9,225 ✭✭✭✭

    Yep and they know it however with the nuclear option they could raise the tax rates on the super rich and have few more trillions of dollars of more debt for the progressive Democrats to buy votes in November.

    Rents are very high now and millions of people are on welfare and depend on more and more free handouts. The great reset with digital programmable Fed Coins could bypass the Banks involvement with The Helicopter money with higher energy costs for hydrocarbons to boot. It's not looking good for the middle class in America anymore. I know I will be saving every penny now with higher interest rates.

    serf

  • Don McManusDon McManus Member Posts: 23,125 ✭✭✭✭

    While history tells that a GOP Congress and Democrat POTUS is the most fiscally restrained mix we can have, casting our lot with the GOP has always resulted in Federal Spending growing faster than the rate of inflation.

    At least the Democrats are honest about spending us into oblivion.

    Freedom and a submissive populace cannot co-exist.

    Brad Steele
  • serfserf Member Posts: 9,225 ✭✭✭✭

    That's not what I see.I see The GOP give huge tax cuts to the rich corporations ,However they love to give the military what ever they want so this may be why you say they spend more. Personally both political parties are Budget Busters and with the inflation rising fast they have both made The USA dollar worth much less over time.

    The U.S. dollar only has one thing going for it. The Military might it may use in future warfare scenarios.

    serf

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