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  • Duma Deputy Chair Insists Gold-Backed Stablecoins & Crypto-Mining Be Allowed In Russia 'To Circumvent Sanctions'

    From zerohedge.com

    First there was Tether; the controversial dollar-backed cryptocurrency that so many of the US establishment are fearmongering about. Then the Chinese launched a gold-backed, yuan-denominated oil futures contract. After that came Petro, the industry's first oil-backed crypto issued by the Venezuelan government. And now we might be about to see the first gold-backed cryptocurrency - by a central bank, no less. As Putin advisor Sergey Glazyev has said in the past, "the ruble is the most gold-backed currency in the world," and judging by reports from the RIA Novosti news agency tonight, the days of a digital, ... (full story)

Russia should instead demand payment in gold for energy and food exports.That would end this charade with US dollar.It would help if investors massively demand gold deliveries for their contracts at Comex and thus make a "bank run" on these fraudulent bullion banks and their manipulated paper prices.
Quote: "...the ruble is the most gold-backed currency in the world,"
Take a look at Gold prices and then the rouble exchange rate against all major fiat currencies in last 20 years and tell me that has mattered a damn in the last 20 years?
Quoting Jugoslavija
Russia should instead demand payment in gold for energy and food exports.That would end this charade with US dollar.It would help if investors massively demand gold deliveries for their contracts at Comex and thus make a "bank run" on these fraudulent bullion banks and their manipulated paper prices.
Problem is that such demands got people killed in the past. Ask Gadaffi and Sadam Hussein.
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  • Posted: Jan 24, 2022 12:56am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 3  /  Views: 1,959
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