My Russian friends say no way the ruble is gold backed, nor is it likely to be.
Seems like it’s a ‘never-ending-tale’ where folks will ‘believe’ what they either hope for , or fear …
Apparently the Ruskies can easily out-Psy-Op their competitors.
Question - how much gold are the Russian mining companies digging out of the ground these days?
The real question is, whenever we hear anything at all about gold, how much ( verifiable) real gold are we at any time or in any place talking about?? Who actually, verifiably, holds what and owes to whom???
Like no-one EVER finishes counting/accounting for amounts of gold in any one place.
Gold is akin to a ghost economy…
Perhaps you are understanding what is 'going-on, but here is the real ‘kicker’, and one question you have no ‘answer’ for, i.e. “Where can a person ever ‘recover’ lots, and lots of gold from?”
It’s a place where the largest store of gold can be found on the Earth. Think! It is a place where the most gold can be found, and it’s all around us. The Ruskies can not ‘get-it’, nor can anyone else, but it is ‘there for the taking’.
if u would be half the mystery, the understanding would double 
Gold: Will the Moscow World Standard (MWS) Lead the New World Order?
Great article @bluefalken. Couple of thoughts after reading it.
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Another “star” of alternative news media has fallen for me. Namely Zero Hedge. Looks like for click bites they will do anything including completely falsified articles that later just disappear from their website without explanation. I am done with them; I consider anything that comes from them as a part of “fake news” media corp.
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While ago on this forum people often linked interviews with D. Estulin. Not anymore, he has disappeared behind a paywall with his analyses.
For some reason I tend to give his opinions a lot of credence. Maybe because he admits freely that he is “former” counterintelligence agent for Russian intel communities. Mr. Estulin in his talks often alluded that Russia does not own its Central Bank, but IMF does, thru people who are beholden to that institution, and are always in upper echelons of RCB to run things according to what’s best for globaloneys not what’s best for Russia.
If that’s the case, I see a RCB tactic of buying up gold for rubles as a thing to strip Russian people from their security and savings. There are though times there, many people lost jobs and their livelihoods. Now CB is so “conveniently” buying up their “emergency” stash?
That’s how I see it as another scheme of CB to strip people of their independence and wealth.
So, “… the G7 countries impose a ban against any Russia-produced gold entering the UK, Canada, US, or Japan.” Can we imagine the arbitrage opportunity for astute traders to make large fortunes trading gold? Arbitrage exists as a result of market inefficiencies. It exploits those inefficiencies and resolves them. Arbitrage is the simultaneous purchase and sale of the same asset in different markets in order to profit from differences in the asset’s price. It easily exploits variations in the price of identical commodities in different markets, by way of example think of the price of GOLD! So, just need a few persons clever enough to find ways to circumvent the sanctions.
Sanctions are for us peasants. Big boys always find a way. 20mln in gold was stolen during Bolshevik revolution in first few years. It ended up in Western Banks mainly NYC. Bolsheviks allowed it. I wonder who sold out their country(Russia) this time around.
JPF explored the stories about gold years ago. Fascinating subject… Give me some Time to develop another post on GOLD, and I will reference some of them in a future post.
- Yes I have followed Zero Hedge for long time, but -of late- seems Taylor Durden (an agglomeration of writers) has been compromised.
- Agreed on D Estulin. Interesting connection of Russia’s CB to IMF - could this gold buying also lead to the BIS?
Advertisers have the ability to exert enormous pressure on content, regardless of the Durden’s claim-to-integrity. So, I think they are, hopefully at least, still human.