Putin Just ’Pegged’ the Ruble to Gold

The central bank in Russia just announced they will buy gold at a specified rate from its banks for the next three months. While this rate is under the current price of gold, it effectively pegs the ruble to gold and sets a floor underneath the gold price. The real fun starts if Russia decides to price oil in rubles or gold after this move. They could effectively force the world onto a new gold exchange standard.   Join my private community on Locals https://heresyfinancial.locals.com