Looks like Russia may be the first nation in the world to back their currency with the gold standard.....this defies the laws of current world. A new type of war has emerged perhaps ?
The gold standard was a tool of imperial control setup by london
designed to control the worlds currencies through london.
When london got broken by ww1 ww2 the us took over with a modified
gold standard called bretton woods after vietnam led to a leakage of gold from the us.
nixon dropped the gold peg and created the petrodollar.
since 1971 the us dollar was backed noy by gold but the reputation of its economy and its military power alone.
this is no longer the case today.
putin is not using a gold standard he is simply exchanging nearly useless dollars for gold.
this is helped by the fact thatthe US has been artificially setting the world gold price too low to hike up thr value of tge dollar
Russia sells oil and gas and other goods for dollars but instead of buying us treasury bills they are buying physical gold for their reserves to prepare for future change in direction of the economy.
currently the whole world is forced to cater to foriegn investors I.e western financial institutions that will use your own reserves to invest in your economy. You cannot use your reserves of currency yourself you have to allow them to do it for you.
this is how the system is setup.
what if you replace your useless foreign reserved for gold and the currency of your main trade partners.
you can then create your own money and invest in your own economy.
only china has been doing this and you can see the results.
the asian tigers also did it too while at the same time opening up to foreign investors.
but after 1997 crisis they were brought back in to line and today they depend on western investors.
