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The Russian Ruble - The Gold Standard - Fiat Currencies
It would seem that Russia has returned to the Gold Standard. I’ve yet to confirm this, but I believe it to be bona fide.
The Russian authorities have abolished VAT on purchases of Gold Bullion. This tax stood at 20%.
If this is true, then it is momentous news and it will have major ramifications for us all.
But, it comes as no great surprise to me. I was expecting it. It was a move that had to be made.
In a video I published yesterday, entitled “Russia vs The Western Powers – War and Sanctions” I forecast something of this nature would occur.
I quote, “Russia has substantial gold reserves, apparently some 2,300 tons – the 5th largest holdings in the world. And this could come into play in some way shape or form and if they do anything related to gold in support of the ruble, this could have enormous implications for Gold. We could see Gold finally break free. And silver too.”
For those of you who don’t know, the Gold Standard is the name given to the backing of a currency with Gold.
With a Gold Standard, a currency can become money – or rather, I should say, a currency can assume the status of money.
Most people, myself included, use the terms “money” and “currency” more or less interchangeably, but technically they are different, and so, shouldn’t really be confused.
Backing a currency with gold gives the currency a value than it would otherwise not have. After all, currencies don’t have any real intrinsic value. In and of themselves, they aren’t worth much. They are just paper - pretty, printed pieces of paper. Or with regard to coins, shining bits of metal.
Precious metals such as Gold and Silver are monetary metals. They are considered as being money, real money, not the currency that masquerades as money these days.
All major currencies of the world – except the Ruble now - are “fiat currencies”. Fiat currencies are not real money. Fiat currencies are “fake money”, “false money”, “phoney money”, “funny money”, or however, you want to describe it. They pretend to be money, but they aren’t actually money.
So, I expect this measure will force other nations to follow suit. I don’t know when this will occur, but at a guess, I would say before the end of this year.
Putin has become the child in the town who shouts out, “the Emperor has no clothes!”
If the currencies don’t go on the Gold Standard, then the currencies will parade around town naked.
Anyway, I was delighted to hear this news. For me, it’s very welcome indeed for it signals the beginning of the end of the fiat currencies – the scourge of our societies.
When all nations return to the Gold Standard, we will all be a whole lot better off.
Expect the price of Gold to rise and silver too.
Wise up and rise up.
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Sensitivity | Normal - Content that is suitable for ages 16 and over |
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