A New Gold Standard? Kremlin Intends To Back Ruble With Gold And Commodities

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Zero Hedge: On Tuesday 26 April in an interview with newspaper Rossiyskaya Gazeta (RG), the Secretary of the Russian Federation’s Security Council, Nikolai Patrushev, said that Russian experts are working on a project to back the Russian ruble with gold and other commodities.

The interview, which is in Russian, can be seen on the RG website here.

For those who don’t know the name Nikolai Patrushev, Patrushev is one of Russia’s most powerful security / intelligence officers and a close ally of Putin. After serving between 1999 and 2008 as Director of the Russian Federal Security Service (FSB) (the successor organization to the KGB), Patrushev moved to being Secretary of the Russian Security Council since 2008. In fact, Patrushev took over as Director of the FSB in 1999 from the previous incumbent, Vladimir Putin.

The Security Council of the Russian Federation is chaired by Putin, with Patrushev as Secretary, overseeing the Security Council and answering directly to Putin. The deputy chairman of the Security Council is Medvedev Dmitry, the former Russian president and prime minister. Among the other member of the Security Council are current Russian prime minister Mikhail Mishustin, and Russian foreign minister Sergei Lavrov.

So when Nikolai Patrushev says that Russia is working on a plan to back the ruble with gold and commodities, it is not just anyone saying this, it is being said by the highest echelons of the Russian Government.

(Putin and Patrushev)

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Opinion: I usually avoid posts that start with “Russian experts are working on a project…”. ‘Working on’ projects most of the time never happen.

But this one is different. The world economy is being run on fiat currency.

Text book definition: Fiat money is a type of currency that is not backed by any commodity such as gold or silver, and typically declared by a decree from the government to be legal tender.

Real life definition: The global economy is based on IOU’s. The most powerful countries IOU’s rule the less powerful ones, but at the end of day, the world is not only bankrupt, it is in debt for $226,000,000,000,000 (trillion), not counting off-balance sheet unfunded liabilities that in the US alone is over $100 trillion.

Enter Russia and China who seem to have planned how to bring the West into submission.

Both Vladimir Putin and Xi Jinping knew from before Joe Biden’s first day in office that he was going to pander to his leftist green energy base: shut down the Keystone pipeline, choke off existing drilling and fracking with onerous regulation, while inexplicably strengthening Russia’s Nord Stream II pipeline bringing oil and gas to Europe.

As an added bonus to Russia, on January 22, 2022, Biden withdrew support for the EastMed pipeline that could have provided natural gas from Israel’s Levant basin to Europe.

Russia and China also knew that after the Ukraine invasion, the only weapon the west could use against Russia is sanctions. And true to form, a weak US administration more concerned with woke and climate issues than leading the world in energy, froze 10 billion in Russian international reserves.

In retaliation, Russia blackmailed Europe by forcing payment for much needed oil to be paid in rubles instead of US dollars, and here is where it gets tricky. You see the Russian ruble is too small in scope to be a world reserve currency, but China’s yuan, already in the IMF basket of possible back up reserve currencies, may be.

Keep in mind there is no lone superpower resembling the US in Bible prophecy.

A change in world reserve currency or even the addition of a second reserve currency would be a devastating blow to US prestige as an economic superpower.

A senior White House official said Russia has up to 2300 tonnes of gold, while China actually has more gold than the United States, which according the current official figures is the world’s largest holder with 8,133 tonnes, begging the question will the Yuan be backed by Gold next?

An emerging bloc bloc of nations (Russia, China, Iran and India) with currencies backed by gold could be the next nail in the coffin of the US and Europe. A yuan as a second world reserve currency would officially end the US as the economic engine of the world forcing nations to sell dollars to buy Yuan to purchase Oil and wheat.

On March 22, 2022 Federal Reserve Chairman Jay Powell said ‘it is possible for the world to have more than one reserve currency’. 

See our paper: The 1% and Revelation: Do not Harm the Oil and Wine HERE

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