Significance of setting a Fixed Price for Gold in Roubles Part 2

 

The rouble’s link to gold via the Bank of Russia’s fixed price has now put a floor under the RUB/USD rate, stabilising and strengthening the rouble. Demanding that natural gas exports be paid for in roubles (and possibly oil and other commodities later on) will act as a stabilisation and support mechanism once more. If the majority of the international trading system begins to accept these roubles for commodity payments, the Russian rouble has the potential to become a major global currency. Simultaneously, any move by Russia to accept direct gold payments for oil will result in more international gold flowing into Russian reserves, strengthening the Bank of Russia’s balance sheet and, as a result, the rouble. 

By connecting the rouble to gold and afterward to energy installments, the Bank of Russia and the Kremlin are on a very basic level adjusting the whole working suspicions of the worldwide exchange framework while additionally speeding up change in the worldwide money related framework. This wall of buyers looking for physical gold to pay for real commodities has the potential to torpedo and blow up the LBMA and COMEX paper gold markets. 

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#edgeforex #forextrading #forexsignals #forex #trading #russia #gold #ukraine #oil #energy #roubles #kremlin #rate #cryptocurrency #bitcoin 

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