The Russia Ruble is now gold-backed

Re:The Russia Ruble is now gold-backed by rurban on Monday March 28, 2022 @01:09PM (#30832817)

but they didn't say where the gold is parked. it is in London and Switzerland, not in Moskow! so it's not safe of sanctions at all.

[ Parent | on HN ]

Re:The Russia Ruble is now gold-backed by neo_spike on Tuesday March 29, 2022 @08:25AM (#30841586)

Isn't Russia a major producer of gold? Couldn't they use gold they mine to help them work around these sanctions?

[ Parent | on HN ]

Re:The Russia Ruble is now gold-backed by iLemming on Tuesday March 29, 2022 @11:27AM (#30843864)

Potentially, they may struggle to sell that gold later. Russian gold has specific composition - it's relatively not that difficult to identify its provenance. What's the point of hoarding treasure if you can't sell or exchange it?

[ Parent | on HN ]