![Ellabee (@Lizzie59293400): "💥BREAKING💥 🚨Russia returns to Gold standard🚨 The government will abolish the VAT (tax) on bullion. [784x763 - 307KB]](https://pic8.co/sh/fwFzxK.png){kind=link}
So, it looks like Russia isn't switching to a gold-backed currency, which is what people usually mean when they say "gold standard". They're instead no longer treating gold as a pure commodity, allowing it to be used as its own currency. At least for the moment, it will still have a floating value compared to the ruble.
I did a quick analysis of whether Russia could switch to a real gold standard something like 3-4 years ago and concluded they were only halfway there. I don't think they've made a huge amount of headway since then, maybe up to 60% or so, it'd require a heck of a lot of gold to do it. I could be wrong though.
I do predict, however, that if any major nation does switch to a gold-backed currency, the price of gold in other currencies will roughly double.
There's so much disinfo and misinfo that we plebs don't really know, absolutely for sure positively, who has gold and how much.
Russia publishes (or published) their gold stock statistics. They could be lying about it, I'm sure... They could also be lying about their money stock statistics. IDK.
Edit: Looks like they stopped adding to their reserves in early 2020. https://tradingeconomics.com/russia/gold-reserves
Yes. I appreciate your insight (your comment), I just wanted to say what we already know (about confusion).
If anybody has gold it's Russia (and the jew cartels). They've never relinquished their mantra that "only gold is money" and the golden rule "he that has the gold makes the rules."
Very scary times right now.
I bet Russia has tons of unmined gold reserves. What I wouldn't give to have $4-5million for equipment and free reign to pick a mining plot.
Problem is though that it's incredibly difficult if not impossible to mine in permafrost ground conditions.
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