Russia Pegs Ruble to Gold: What Does that Mean for the World Order?

It’s no secret that the Kremlin has been a proponent of a gold-backed ruble. Now it appears they’re set to make it happen—but how? The central bank in Russia has fixed the value of the ruble to gold. This action follows the unwelcomed interventions by the U.S., the U.K., and Europe. Their imposed sanctions lead to the ruble’s value plummeting thereby crushing the Russian economy. Q4 2021 hedge fund letters, conferences and more The Central Bank in Russia has Fixed the Value of the Ruble to GoldRussia’s central bank announced in March that it will pay a fixed price of 5,000 rubles ($52) per gra…

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