https://theconversation.com/why-rus...gold-standard-but-its-unlikely-to-last-180632
Who again said RUB is done and russia bankrupt ?
Who again said RUB is done and russia bankrupt ?
Russia adds gold standard to RUB
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It's not done yet...oh, and by the way, that bilateral trade with India in 'apparently' Rupees...now it appears that they are discussing the use of a third counterparty currency, a one US Dollar.
In this FAKE war, there is a lot of misinformation and a lot of (I thought) intelligent people falling for it. Don't be one.
NVO
In this FAKE war, there is a lot of misinformation and a lot of (I thought) intelligent people falling for it. Don't be one.
NVO
No - chinise RMB. As a means to calculate the exchange rate - not to trade via it.
I red on Bloomberg they were mulling it to be the USD, anyway, it'd be as a means to calculate the exchange rate, as you pointed out.
NVO
The scales on the two graphs are quite dissimilar. So, you need to compare the actual increases, not look at the lines.
If you look carefully and actually run the numbers, you will notice that gold rose against both currencies by about 20% since last May. Gold actually gained a bit more against the Ruble. The big difference between the two currencies is that the Ruble experienced a giant shock. Such instability is never good for a currency.
I agree both currencies have increased about the same over time but the Euro clearly has larger ripples for the most part up until the spike. I don't agree that the giant shock suggests the Ruble is instable since it managed to bounce back.
IMO the larger the ripples, the more volatile a currency is against gold.
Hence I suspect Russia has been planning this for a long time to peg their currency against gold.
IMO the larger the ripples, the more volatile a currency is against gold.
Hence I suspect Russia has been planning this for a long time to peg their currency against gold.
I think that you missed my point. If the chart of the Russian Ruble was similar to the one for the Euro (e.g., 100,000 to 160,000 without the giant price spike), the increase would appear very similar for both.
But the vastly higher volatility of the Ruble results in chart that is twice as vertical, thereby skewing the visual comparison. In short, the gains by gold were roughly the same for both currencies over the same time period but the Ruble is vastly more volatile.
Stated another way, you cannot remove a giant price spike in order to claim that one currency is less volatile than another. Price spikes are the very essence of volatility.
Below shows a graph 30 days after the Ruble was pegged to gold.
To me it suggest that the Euro is not doing as well since it's not following the same projection.
It also suggest to me if you own Rubles you probably won't feel the need to buy gold right now even if the currency is as good as gold.
Having said that I'm curious if I were in Russia would get the price of gold that was used on the 1st of April and receive 1000 more Rubles than what the graph shows today?
I would also note as an example the Hong Kong dollar is following a similar projection to the Ruble. I.e. Getting stronger over the last 30 days
To me it suggest that the Euro is not doing as well since it's not following the same projection.
It also suggest to me if you own Rubles you probably won't feel the need to buy gold right now even if the currency is as good as gold.
Having said that I'm curious if I were in Russia would get the price of gold that was used on the 1st of April and receive 1000 more Rubles than what the graph shows today?
I would also note as an example the Hong Kong dollar is following a similar projection to the Ruble. I.e. Getting stronger over the last 30 days
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