Russia just wiped out about 30 percent (30%) of the US dollar worldwide when it comes to gold ingots.... another day of ruining America by obiden inc.

[WVU82]

@AussieAnne

10h·
It's official! Russian Central Bank announces that the ruble is tied to gold!

5000 rubles per gram.

The Central Bank of Russia has officially announced that the Russian ruble will be tied to gold as of March 28, 2022, The rate is 5,000 rubles per gram of gold ingots.

There are 28 grams in each ounce. 28 grams for 5,000 rubles per gram is 140,000 rubles.

Are you following me this far?

The conversion rate of rubles into US dollar is 100 rubles, 90 pounds, for each US dollar.

If the rubles are tied to gold at 5000 rubles per gram, and there are 28 grams per ounce, which means that an ounce of gold would cost 140,000 rubles, then the conversion into US dollars means that gold costs 1400 dollars per ounce when used the rubles, instead of 1,928 dollars by ounce using the dollars.

Russia just wiped out about 30 percent (30%) of the US dollar worldwide when it comes to gold ingots.

People all over the world are literally throwing their money on the ruble and throwing away dollars and euros to do it.

What Russia just did is the financial equivalent of detonating a nuclear bomb.

 

[Gold-n-Blue]

Very pro Russia take. Overall this is a massive risk for Russia, especially once the Rouble falls. It will fall, will Russia actually exchange Gold for Roubles, and potentially run out of gold? This seems like a miscalculation to me, by Russia.

 

[dave]

Very pro Russia take. Overall this is a massive risk for Russia, especially once the Rouble falls. It will fall, will Russia actually exchange Gold for Roubles, and potentially run out of gold? This seems like a miscalculation to me, by Russia.

I keep reading that the Ruble will fail. Right now it's not failing. That isn't pro Russia or con Russia it is just a fact.

 

[ThePunish-EER]

So basically, we sanctioned ourselves.

 

[dave]

So basically, we sanctioned ourselves.

I guess I don't understand why someone would sell their gold for Rubles instead of Dollars under that scenario. Maybe I have it backward in my head?

 

[Gold-n-Blue]

I keep reading that the Ruble will fail. Right now it's not failing. That isn't pro Russia or con Russia it is just a fact.

It was pro Russia from the post headline. I don't see this as a blunder by the administration, even though I am not a fan of Biden. I think this will come back to bite Russia, personally. When it comes to currency and global influence, Russia is out of their class.

 

[dave]

It was pro Russia from the post headline. I don't see this as a blunder by the administration, even though I am not a fan of Biden. I think this will come back to bite Russia, personally. When it comes to currency and global influence, Russia is out of their class.

The problem isn't Russia but the problem is using Russia to hurt the US.

 

[DvlDog4WVU]

It was pro Russia from the post headline. I don't see this as a blunder by the administration, even though I am not a fan of Biden. I think this will come back to bite Russia, personally. When it comes to currency and global influence, Russia is out of their class.

None of us here are Pro-Russia, stop with that nonsense. Your assertion is a Democratic Party, Biden administration, and Liberal media deflection tactic against a critical and factual accounting of their handling of the current geopolitical situation.

Their stated position was sanctions were meant as a deterrent - Failed

Sanctions would cripple Russia’s currency (The administration touted when the ruble fell, initially) - failed

Sanctions will cripple Russia’s economy - Saudi, Iran, India, Pakistan, and China are aiding Russia.