@LCR34 BUT he is right we don't negotiate with NaZX terrorist...lol
Ukrainian War Developments
- Thread starter james smith esq
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Has anyone done the math? Does Russia have enough gold to support Ruble at it's current exchange rate?
From the sources I read, apparently they are buying gold from their domestic gold producers to support their operations, not buying gold from civilians. I'm guessing this is to resupply the gold in their banks, to then sell them back to their citizens/business entities.
Gold, Oil and Gas to begin with. What exactly do you think you need to secure a a currency? Its a promise to pay afterall and these are all things that people would be happy to paid in.
If your no longer playing the loaded dollar game, you can make your own rules, just a long as you have the wherewithal to back it up, which is exactly what Russia has.
If your no longer playing the loaded dollar game, you can make your own rules, just a long as you have the wherewithal to back it up, which is exactly what Russia has.
@SampanViking Sir you're so correct and in terms of capacity to pay Russia had in abundance, Its huge resources alone can be used as collateral and those resources are critical and are in high demand. For me the Russian Ruble should be part of an International basket foreign currency equal in pegging with the Dollar and Euro.
Kadyrov said that they will taking care of denazification, no needs for politics.
Right now 1 gram of gold priced at 63usd, 5000 Ruble = 57.2usd, so actually a slight appreciation of values in Rubles if this is the case.
Don't know the total amount of Rubles in circulation though
Edit: wrong values
Banking, currency, and economics people on this forum, can you please explain the significance of this?
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