March 24, 2022 Originally published by QTR's Fringe Finance Russia Will Backstop The Ruble With Gold. The backstopping of the Ruble with gold can come in many forms and doesn’t have to be a direct peg from the Ruble to gold - it can include accepting payment for oil in gold. Now that Russia has come right out and said it will only transact in Rubles when selling oil to[...]
Tag: ruble
China Prepares To Bailout Russia – East Continues to Break Away from West
Earlier this evening China's State Administration of Foreign Exchange's (SAFE) Wang Yungui noted "the impact of the Russian Ruble depreciation was unclear yet, and, as Bloomberg reported, "SAFE is closely watching Ruble's depreciation and encouraging companies to hedge Ruble risks." His comments also echoed the ongoing FX reform agenda aimed at increasing Yuan flexibility which The South China[...]
This Is What Gold Does In a Currency Crisis – Real World Example Playing Out Now
by John Rubino on December 16, 2014 To say that gold is in a bear market is to misunderstand both gold and markets. Gold isn’t an investment that goes up and down. It is money in the most basic store-of-value sense. Most of the time it just sits there, and when its price changes in local currency terms that says more about the local currency than about gold. But when currencies collapse, gold[...]