Russian Central Bank Announces More Gold Purchases as Move Signals a Gold Backed Ruble!
In order to become more independent of the US dollar and the western SWIFT system of the banks, the Russian central bank is forcing further gold purchases at a fixed rate. Last but not least, this could also increase the value of the ruble.
The Central Bank of Russia has told German business news on Sunday that it intends to start buying physical gold from Russian banks at a fixed price from Monday, creating a sort of new gold standard.
For the country’s financial institutions, which have also been separated from the Swift network by the massive Western sanctions, this should create an opportunity to open up more financial leeway. At the same time, the central bank is increasing its gold reserves. That could further weaken the US dollar’s already ailing dominance as the world’s number one currency.
In the Explanation The Bank of Russia specifically states:
“The Bank of Russia will start buying gold from credit institutions at a fixed price from March 28, 2022 in order to balance supply and demand in the domestic precious metals market. From March 28 to June 30, 2022 inclusive, the price will be 5,000 RUB per 1 gram . The set price level makes it possible to ensure a stable supply of gold and the uninterrupted functioning of the gold mining industry in the current year. After this period, the gold purchase price can be adjusted taking into account the emerging balance between supply and demand on the domestic market.”
Interesting: The purchase price of 5,000 rubles per gram corresponds to around 50 dollars per gram or around 1,600 dollars per troy ounce at the current exchange rates. The price is thus well below the current world market price of $1,960 per ounce. However, if 5,000 rubles per gram corresponds to the market price, the sale would be worthwhile for Russian banks and would result in further appreciation of the ruble against the dollar or the euro.
The ruble has already gained some value in the past week after President Vladimir Putin announced that future Russian gas sales will have to be transacted in rubles or gold instead of euros or dollars. This could soon be extended to other Russian raw materials.
Russian President Vladimir Putin has made a public statement on video about what has taken place with binding the Ruble to Gold.
In that statement, he points out that Western Nations have simply STOLEN Russia’s foreign currency reserves and Gold Bullion Reserves, and by doing so, worldwide trust in so-called “First-Class” safety of investing in the West, has been smashed.
He goes on to predict that people will now dump their holdings of Dollars and EUROS to safer investments like land, food, and raw materials. Here is that video from Twitter.
It appears that the days of the US dollar being the worlds reserve currency are at an end. When the USA decided to STEAL over 300 BILLION Dollars of Russian reserve dollars it was game over the the US dollar. How can you trust a country to hold onto your nations money when it just stole 300 billion from a nuclear power??? This wasn’t even done against Nazi Germany during WW2.
These kinds of sanctions are an act of war against the people of Russia. The oligarchs and politicians are just fine. This will help collapse the US dollar which was part of the plan all along. It is over for the USA and the EU. Russia and China have taken over the reigns of the NWO and the shift began decades ago, shortly after WW2 in fact. Keep praying and keep prepping! Time is very short!
Sources for the article are below.
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