You are here
Alasdair Macleod: Edging toward a gold standard
By Alasdair Macleod
GoldMoney, Toronto
Thursday, March 31, 2022
Commentators are trying to make sense of Russian moves. However, there is a back story that differs from much of the speculation, which this article addresses.
The Russians have not put the rouble on some sort of gold standard. Instead, they have repeated the Nixon/Kissinger strategy that created the petrodollar in 1973 by getting the Saudis to agree to accept only dollars for oil.
This time, nations deemed by Russia to be unfriendly will be forced to buy rubles -- roughly 2 trillion by the European Union alone based on last year's natural gas and oil imports from Russia -- driving up the exchange rate. The ruble has now doubled against the dollar from its low point of 150 to 75 yesterday in just over three weeks.
... Dispatch continues below ...
... ADVERTISEMENT ...
Storage and Withdrawal of Gold
with Bullion Star in Singapore
Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.
Bullion Star's solution for storing bullion in Singapore is called My Vault Storage.
With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.
Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage online around the clock. Storage rates are competitive.
For more information, please visit Bullion Star here:
The Russian central bank will soon be able to normalise the domestic economy by reducing interest rates and removing exchange controls.
The Russians and Chinese will be acutely aware that Western currencies, particularly the yen and euro, are likely to be undermined by recent developments.
The financial war, which has always been in the background, is emerging into plain sight and becoming a battlefield between fiat currencies, and it is full on.
The winner by default is almost certainly gold, now the only reliable reserve asset for those not aligned with Russia's "unfriendlies." But it is still a long way from backing any currency. ...
... For the remainder of the analysis:
https://www.goldmoney.com/research/goldmoney-insights/edging-towards-a-gold-standard?gmrefcode=gata
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at: bagman1236@aol.com
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
