There are contradictory statements coming out of Russia at present regarding whether or not Russian authorities are planning on creating a Gold Standard for the Ruble.
As I reported in a recent video, Secretary for the Security Council of Russia, Nik…
There are contradictory statements coming out of Russia at present regarding whether or not Russian authorities are planning on creating a Gold Standard for the Ruble.
As I reported in a recent video, Secretary for the Security Council of Russia, Nikolai Patrushev, announced on Tuesday 26th April that the Russian authorities are working on plans to create a Gold Standard for the Ruble.
As far as I was concerned this was an official public announcement regarding the intentions of the Russian authorities. Patrushev is part of the Kremlin power structure and so I took it as bona fide.
Moreover, President Putin’s spokesman, Dmitry Peskov echoed this statement, saying that backing the Ruble with Gold was being discussed.
However, the Governor of the Central Bank of Russia, Elvira Nabiullina, has dismissed the idea that the Ruble would be backed by Gold, saying that the Ruble would remain a free-floating currency.
Who should we believe?
Honestly, who knows?
One thing that strikes me as very odd is that these disagreements are being carried out in the public domain rather than behind closed doors, especially given that Russia is engaged in a conflict in Ukraine and I would have thought they would have wanted to present a united front.
It makes me wonder about the nature the Central Bank of Russia – whether it has autonomy in terms of monetary policy and the like. If it is anything like the Central Banks in most other countries and if it is an integral part of the wider Central Banking system which comes under the aegis of the Bank of International Settlements, the Central Bank of Central Banks, based in Basel, Switzerland, we might see some very, very interesting developments - by which I mean that the Kremlin might first expose and then dissolve the Central Bank of Russia. If this happens, all kinds of havoc will ensue in the world. We will see the death of an old order and the birth of a new order. Hopefully, not the “New World Order” as pushed for by Klaus Schwab and his accomplices.
Other than that, I’m not sure what else to say.
We just have to wait and see what transpires.
Wise up and rise up.
