Will RUSSIA Announce a GOLD STANDARD?

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Russia is a perfect example of how gold holds value and paper currencies do not. 

Russia was the world’s largest producer of crude oil andnatural gas  for 2014.

Because the price of crude oil and natural gas have both plummeted about 50% in recent months, it has caused a currency devaluation on par with the drop in oil price.

Golden facts about Russia (all verifiable as of 2014 year end):
 

• The Ruble vs the US$ has devalued by about 50% during the last 8 months.

 

• Gold’s price in Rubles has soared nearly 100% in the past 8 months.

 

• Since 2001 to December 12, 2014 the Russian Ruble price of gold has soared nearly +800%.

 

• The Russian Central Bank in 2014 bought more gold than any other country Central Bank (+177 metric tons)….and is up +210% in the past 8 years.

 

• Russia was the second biggest gold producer in 2014. Last year it extracted 272 tons of gold, outstripped only by China with 466 tons, and just ahead of Australia producing 269 tons.

 

• Russia has the third largest (mine) deposits of gold (5,000 metric tons) in the world…after Australia (9,800 metric tons)  and South Africa (6,000 metric tons).

 

Apparently the decline in oil prices has not dampened Russia’s appetite for gold accumulation.

 It is quite possible Russia has additional gold to the 1,207 tonnes declared so far. If so a first step would be to declare the full position, which may trigger a similar declaration from China, there then being no point in China continuing to conceal Russia’s true position. The more gold Russia actually has, the more likely it is to want to announce its intentions sooner rather than later.

To a large extent timing will be down to NATO. If NATO escalates its involvement in Ukraine, with or without more financial sanctions, Russia might respond to stabilise the rouble by announcing a gold standard.”
 

Alister Macloed of Gold-Eagle writes, “…it could be in Russia’s interest………..

 

Read the rest of the story at GramsGold.com