Can someone help me understand ..., page-4

On 19 April 2016, China was rolling out its new gold-backed yuan. Russia’s ruble has been fully supported by gold for the last couple of years. Nobody in the western media talks about it. A western reader may start wondering why he is constantly stressed by a US dollar based fiat monetary systems that is manipulated at will by a small elite of financial oligarchs for their benefit and to the detriment of the common people.

In a recent Russia Insider article, Sergey Glaziev, one of Russia’s top economists and advisor to President Putin said about Russia’s currency, “The ruble Is the most gold-backed currency in the world”. He went on explaining that the amount of rubles circulating is covered by about twice the amount of gold in Russia’s Treasury.

Yes it now gold-backed.

Cheers!