Russia gold and currency

Perhaps Russia could sell its gold; after all, war costs a lot of money. However, possible buyers are likely to exercise restraint, because the purchase of Russian gold could be subject to sanctions by the USA. The ruble is no longer worth much, that’s for sure. Heavy economic sanctions are causing the Russian currency to roll downhill. Experts at the major bank JP Morgan, for example, believe that the Russian economy will slump significantly and that a recession is imminent. The raising of interest rates by the Russian central bank will have unpleasant consequences. Demand for credit will collapse, inflation will rise, perhaps even to the point of hyperinflation, and purchasing power will decline in the country.

Should a new ruble come into being, Russia could introduce a kind of gold standard, as it once existed, and underpin the currency with it. And Moscow is already planning to eliminate the 20 percent tax on the purchase of precious metals for private individuals. Gold could thus help citizens preserve their wealth. That would at least be a new form of gold standard. Since the gold standard was laid to rest by the U.S. in 1971, it has not been introduced anywhere. The idea behind it, to hedge the currency with the precious metal, is to provide protection against inflation and thus preserve purchasing power. In any case, the decline in the value of the Russian currency is driving residents to take their money out of the bank.

Since gold provides security and purchasing power around the world, the values of mining companies that own the precious metal in their projects are not to be sneezed at either.

There’s OceanaGold – https://www.youtube.com/watch?v=5wOeuqus6WY -, an established gold producer, with properties in New Zealand, the Philippines and the US.

Revival Gold – https://www.youtube.com/watch?v=adyprQlTlwg – owns a prospective early producing property, the Beartrack-Arnett project in Idaho.

Current corporate information and press releases from OceanaGold (- https://www.resource-capital.ch/en/companies/oceanagold-corp/ -).

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