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Russia Is Returning To The Gold Standard And China Is Going To Be Next

Russia Is Returning To The Gold Standard And China Is Going To Be Next thumbnail

No sooner was it that I wrote an article talking about how Russia was going to back the ruble with gold than “one of the Russia’s most powerful security/intelligence officers and a close ally of Putin” has admitted the country’s intentions to do just that.

And I’m predicting that no sooner will the gravity of this decision finally sink in with the West that China will follow closely in Russia’s footsteps and do the same.

Russia backing its currency with gold represents one of the most drastic changes to the foreign currency market in decades. As of 2022, precisely zero countries still adhere to a gold standard, though many countries still hold gold in reserve.

Gold reserves of largest gold holding countries worldwide as of March 2022(in metric tons) / Statista

The new global monetary system is likely going to look like Russia, China, India, Saudi Arabia and other countries with commodity-backed, sound money on one side – and the west and our allies, with our “infinite” fiat, under the tutelage of rocket surgeon Neel Kashkari, on the other.

Despite the enormity of the situation, the news hasn’t really been digested by global markets yet. The FX market has been relatively calm, but for the ruble strengthening, and gold prices have crashed so far this week, with front month futures falling nearly $50/oz. on Monday, back down to about $1,860/oz.

Image
Ruble vs. Euro chart from Zero Hedge

Today’s content is free, but if you enjoy it and have the means to support the blog, I’d be humbled by your subscription:


Aside from the FX market, the news also hasn’t been digested by US politicians or financial “thought leaders” yet.

However, there are underground rumblings starting to catch the ears of those who are actively listening. Ronan Manly wrote for BullionStar.com last week:

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.

Manly was kind enough to translate the interview with RG, which stated Russia’s intentions to back the ruble with gold in crystal clear fashion:

RG Question: And what do we need to do to ensure the ruble’s sovereignty?

Nikolai Patrushev: “For any national financial system to be sovereignized, its means of payment must have intrinsic value and price stability, without being pegged to the dollar.

Now experts are working on a project proposed by the scientific community to create a two-circuit monetary and financial system.

In particular, it is proposed to determine the value of the ruble, which should be backed by both gold and a group of goods that are currency values, and to put the ruble exchange rate in line with the real purchasing power parity.”

Manly concludes, matter-of-factly:

So there you have it. The Russian Government is actively working on creating a gold and commodity backed Russian ruble with intrinsic value which is outside the orbit of the US dollar.

What we are seeing now is Nikolai Patrushev and the Kremlin confirming this simple equation of linking the Russian ruble to gold and commodities. In other words, the beginning of a multilateral gold and commodity backed monetary system, i.e. Bretton Woods III.

Just days ago I published an in-depth analysis by my friend Lawrence Lepard, about what Bretton Woods III might look like. For anyone concerned about the future of the monetary system, it is a must-read.

QTR’s Fringe Finance
Putin Knows The Monetary System Is A Credit Based Ponzi Scheme: Lawrence Lepard
Friend of Fringe Finance Lawrence Lepard released his most recent investor letter a few days ago with his updated take on the seismic changes occurring in monetary policy globally as a result of the Russia/Ukraine conflict. He takes us through history as to how this landscape has changed in the past, and what could be coming in years ahead…

Read more

Finally, to take Manly’s analysis one step further, I think China isn’t going to be far behind Russia in adopting a gold standard.

How much can — and will — China help Russia as its economy crumbles?

Going back to last summer, before the invasion of Ukraine happened and before inflation was an issue, I wrote an article arguing that it was the most common sense scenario for China to affix its new digital currency to gold.

That was before Russia decided they were ready to take a stand against the west’s monetary policies and before China became interested in buying distressed strategic oil assets from Russia while the rest of the globe tries to shut the country down economically.

Now, Russia and China are closer than they’ve ever been and arguably more unified in their interests of keeping the U.S., the west and NATO in check than they’ve ever been.

China has also kept one eye on Taiwan, as I noted in an article last month exploring whether or not President Xi is actively entertaining the idea of catalyzing World War III. For now, those concerns have taken a back seat to the country’s bizarre recent reaction to a Covid “outbreak” that it is fruitlessly trying to control.

Meanwhile, as Russia accepts payment for oil only in rubles or gold, “the digital yuan has already been piloted in various Chinese cities and was used in more than $8 billion worth of transactions in the second half of 2021,” CNN reported earlier this year. In other words, the rubber is starting to hit the road for China’s digital currency.

And, with everyone locked in their homes once again, it’s extremely convenient timing.

Is the picture becoming clear yet, or do I need to spell it out for you?

If you haven’t read them yet, numerous articles that explain my position on Russia and China creating their own monetary system include:



38 Comments on "Russia Is Returning To The Gold Standard And China Is Going To Be Next"

  1. dissident on Tue, 3rd May 2022 10:04 am 

    It’s not gold that matters. It is commodities. The US dollar is oil backed and has become the global trade currency. Russia can leverage its commodities (which are not optional for the global economy) to back up its currency. The NATO west made an epic mistake when it grabbed the 300 billion dollar equivalent Russian reserves. Russia will no longer accept dollars on a string for its commodities. Pay in rubles or GTFO.

  2. Biden's hairplug on Tue, 3rd May 2022 11:09 am 

    Indeed. The US sold its reserve currency, worth about 40% of 20 trillion $ GDP = 8 trillion $ PER YEAR, for the jew tip of 300 billion.

    It’s worth it, Vlad.

    The Chinese, no fools, saw what happened to Russia’s hard-earned reserves and are looking a way out from the dollar economy:

    https://www.dailymail.co.uk/news/article-10774819/Beijing-looks-save-3-2tln-foreign-reserves-sanctions-event-military-conflict.html

    “Is China preparing to invade Taiwan? Beijing orders officials to find ways to protect the nation from western sanctions like those used against Russia”

    There is no way to achieve this without major cost. But remember China man, the cost for the US is infinitely higher. The geopolitical gains for Russia and China are worth it.

  3. JewsNeedAnExtraLessonOfHumility on Wed, 4th May 2022 7:08 am 

    I still stand with the new kings and Gods of earth. Since I am a powerful person because I can change the reality earth, not the Jews, maybe I should teach the Jews and extra lesson of humility. Maybe I could make their waters supply disappear because of excessive heat. Let me think How I can torture all the Jews of Israel even more then the rest of none human on earth,

    https://www.zerohedge.com/geopolitical/angry-diplomatic-row-between-israel-russia-over-hitlers-jewish-blood-remarks

  4. FemaleInsectoid on Wed, 4th May 2022 11:08 am 

    Female insectoid looking for love: 5:12 to 5:24. Why do you grap my butt, he said,

    https://www.youtube.com/watch?v=MLiMjP1EDMU

  5. EasyToTurnInsectoidIntoReptiloid on Wed, 4th May 2022 12:49 pm 

    There are easy modifications that could be done to turn the insectoid into reptiloid. The face has moved forward so much, that you now have room to move the eyes by the side of the head. You move the eyes from the front of the face to the side of the head and keep them at the same level.

    https://www.youtube.com/watch?v=PmNyNJFCugo

    1:10 show what I am talking about. You have plenty of room to move the eyes by the side of head because you move that face forward by I would 2 inch forward. By moving the face forward, you give yourself some room to move the eyes by the side of the face.

  6. EasyToTurnInsectoidIntoReptiloid on Wed, 4th May 2022 12:53 pm 

    So you could have a reality made of both: insectoids and reptiloids living together, and having reptiloids eating insectoids for survival. I told you that I am a really evil man. You are nothing compare to me in term of evilness.

  7. EasyToTurnInsectoidIntoReptiloid on Wed, 4th May 2022 1:00 pm 

    At the same time you move the eyes by the side of the face, you move only the mouth forward. That should give you some kind of reptiloid.

  8. EasyToTurnInsectoidIntoReptiloid on Wed, 4th May 2022 2:14 pm 

    It is not me that has created this shit earth. We are told on earth to we have to eat, and the only to eat is to kill: either living animals or living green plant potatoes, broccoli, …

    You are the ones that has created earth and created the design requirement that we have to kill to stay alive.

    Let’s have insectoid and reptiloid kill and eat each other to stay alive. I am just conforming to earth design principle by having insectoid and reptiloid killing and eating each other. You created earth, not me. It is all your fault.

  9. Biden’s hairplug on Wed, 4th May 2022 4:11 pm 

    Pope accuses NATO in matters Ukraine:

    https://www.youtube.com/watch?v=OFHMJ71vf0o

    https://www.politico.eu/article/pope-francis-nato-cause-ukraine-invasion-russia/

  10. Cricut Setup Windows on Thu, 5th May 2022 2:16 am 

    I wish to show thanks to you just for bailing me out of this particular trouble.As a result of checking through the net and meeting techniques that were not productive, I thought my life was done.

  11. Cricut.com/Setup on Thu, 5th May 2022 2:20 am 

    I wish to show thanks to you just for bailing me out of this particular trouble.As a result of checking through the net and meeting techniques that were not productive, I thought my life was done.

  12. Ted Wilson on Thu, 5th May 2022 7:59 am 

    In USA for last 7 consecutive days, diesel prices were setting record prices on top of the record that was set on 2022-03-12 which for sure could cause economic crisis.

    I guess the ban on Russian ESPO blend which yields more diesel is causing this issue.

    By all means diesel cars should be replaced with hybrid petrol cars which get more km-age on petrol which has 15% lesser energy than diesel.

    For MY-2022, Ford dropped diesel truck and now started making electric version. Hope other automakers also follow suit.

  13. EnjoyYourPainAndMisery on Thu, 5th May 2022 11:09 am 

    On top of everything I said to torture the none humans: facial skin cancer, nuclear missile, killing all vegetarian by turning it yellow and brown, I will add another element of torture, hand to hand combat between 2 different species: insectoid and reptiloid.

    Insectoid will have a flat face, eyes in the front and small mouth. The flat face should have insectoid characteristics.

    Reptiloid will have an extended mouth, between 2 to 4 inch long, flat noise resting of top of the elongated mouth and eyes by side of the head.

    I hear all my life that life is a survival contest where only7 the most intelligent and strongest survive and prospers.

    I want the zero point field to create two species, insectoid and reptiloid (see paragraph above for the physical detail of both new species). We will have them fight together to see who is fit for survival. This is one of the rule of evolution, only the best adapted to their environment survive. Let’s see who deserve to survive: insectoid or reptiloid.

    You created all the rules of earth. I am working within the design rules of earth, I am not doing anything illegal in regard to the design rule of earth.

    Enjoy your pain and misery

  14. EnjoyYourPainAndMisery on Thu, 5th May 2022 11:19 am 

    0:24 women in orange bathing suit. This is insectoid transforming into an reptiloid. I want a 50% insectoid reptiloid population. Her mouth need to be pushed forward by another 2 to 4 inches and the eyes need to move by the side of the head.

    https://www.youtube.com/watch?v=UNXBgPO3_zk

  15. EnjoyYourPainAndMisery on Thu, 5th May 2022 11:22 am 

    Made a mistake it is 0:28 for the reptiloid transformation. Once the mouth is pushed forward we will flatten the mouth and nose together to something like one inches.

    0:28 women in orange bathing suit. This is insectoid transforming into an reptiloid. I want a 50% insectoid reptiloid population. Her mouth need to be pushed forward by another 2 to 4 inches and the eyes need to move by the side of the head.

    https://www.youtube.com/watch?v=UNXBgPO3_zk

  16. EnjoyYourPainAndMisery on Thu, 5th May 2022 11:24 am 

    I forgot to say that. A reptiloid should have a long mouth, something like 4 to 6 inch long when the lips are closed.

  17. IWantANewBody on Thu, 5th May 2022 11:35 am 

    Can I order the zero point field to change my own body. I hate this ugly human body. Any advice about this.

  18. CestParfait on Thu, 5th May 2022 12:41 pm 

    J’adore ca, c’est l’équivalent d’isoler les femmes pour toujours. Plus jamais une femme au Québec pourra compter sur l’aide d’un homme. Elles devront ouvrir leur portefeuille large si elles veulent un homme pour faire des travaux manuel pour elles. C’est l’équivalant de dire aux hommes du Québec d’abandonner le system et juste faire le minimum pour rester en vie. Ca indique que c’est une civilisation ou la femme contrôle tous. C’est parfait.

    Création d’un tribunal pour les victimes de violence conjugale à Québec

    https://www.youtube.com/watch?v=nMAZvR5WGgw

  19. Biden’s hairplug on Thu, 5th May 2022 11:50 pm 

    Trump far from finished:

    https://www.infowars.com/posts/clean-sweep-all-22-trump-backed-candidates-win-primaries-in-ohio-indiana/

    “Clean Sweep: All 22 Trump-Backed Candidates Win Primaries in Ohio, Indiana“

    Biden makes fun of his own terrible approval ratings.

  20. Biden’s hairplug on Fri, 6th May 2022 12:31 am 

    Black and gay, the new WH press speaker:

    https://www.spiegel.de/ausland/karine-jean-pierre-wird-neue-sprecherin-von-joe-biden-a-a6d89aaf-766e-4240-adc9-6622cf984a2e

    They couldn’t find something who is a trans as well.
    Well, at least she probably had 21 abortions.

    The NYT openly brags about the US helping the sinking of the Moskwa and killing of US generals. Are the US and Russia going to wipe each other out? Some tacit approval for such a scenario from Brussels and Beijijng does exist.

    Anyway, it’s only a matter of time before the nukes will fly. My tip for the first one: Lvov.

    Meanwhile in the UK, a country that could unravel before the US does, Boris Johnson gets hammered. Anti-Brexit parties Libs and Greens do great:

    https://www.dailymail.co.uk/news/article-10787381/Cabinet-rally-round-Boris-Johnson-local-elections-test.html

    The results for Northern Ireland are not yet in, the country is a little backward, but it is clear that Sinn Fein will win bigly over the Unionist, spelling the end of the British Union, that creation of the Dutch army in 169x. We’re going to miss all these provocative Orange Marches through Belfast, commemorating the Dutch Protestang King Wim3, who laid the foundation for the creation of Anglosphere (and the rise of the jews):

    https://www.amazon.com/Anglo-Dutch-Moment-Glorious-Revolution/dp/0521544068

    “The Anglo-Dutch Moment: Essays on the Glorious Revolution and its World Impact“ – Jonathan Israel.

    But today, the WASP is being hammered out of existance as a result of his judeophilia. Gratitude is a nonexisting category in geopolitics and any “philia” is seen as a weakness.

    Hitler was right, albeit in the grave.
    Perhaps Vlad will volunteer to drag ZOG with him into his grave. NYC, Washington and LA would suffice to terminate the US and break it up.

    Interesting times.

  21. Dredd on Fri, 6th May 2022 9:30 am 

    They blew the trumpets … “It is forbidden to kill therefore all murderers are punished unless they kill in large numbers and to the sound of trumpets.” -Voltaire

  22. Duncan Idaho on Fri, 6th May 2022 1:16 pm 

    GOP Candidate Accused Of Murdering His Wife Wins Primary Election From Jail

    Defiantly a Repug up comer.

    https://www.huffpost.com/entry/gop-candidate-wins-primary-from-jail_n_6274d2d6e4b046ad0d7a418f

    The Fat Boy could give him a cabinet post

  23. ModificationsOfEarthPopulationConfiguration on Fri, 6th May 2022 1:41 pm 

    One design criteria of earth, is the one unique race is not allowed, we must have multiples race: Asian, Black Arab and the must speak different languages in order to create conflicts and tension within the earth.

    So I decide to respect this design rule of earth be creating two new species that will fight each other to death for the control of earth: insectoid and reptiloids.

    Insectoids will have a flat face small mount, eyes in the front of the face.

    Reptiloids will have a big mouth, a mouth moving forward and 4 to 6 inch mouth opening with only pointy teeth.

    They earth will now have only threes species. White angelic humans, insectoids and reptiloids

  24. ModificationsOfEarthPopulationConfiguration on Fri, 6th May 2022 1:46 pm 

    Reptiloids will also have their eyes by the side of head with a mouth pushing forward.

    One design criteria of earth, is one unique race is not allowed, we must have multiples races: Asian, Black Arab and the must speak different languages in order to create conflicts and tension within the earth.

    So I decided to respect this design rule of earth by creating two new species that will fight each other to death for the control of earth: insectoids and reptiloids.

    Insectoids will have a flat face small mount, eyes in the front of the face.

    Reptiloids will have a big mouth, eyes by the side of the head, a mouth moving forward and 4 to 6 inch mouth opening with only pointy teeth.

    They earth will now have only threes species. White angelic humans, insectoids and reptiloids

  25. ModificationsOfEarthPopulationConfiguration on Fri, 6th May 2022 2:03 pm 

    1:27 on the left, insectoids slowly morphing into a reptiloid. Notice the long mouth, mouth moving forward and the eyes moving slowly by the side of the head. I want the following population composition: 49% insectoids, 50% reptiloids and the rest white angelic humains.

    https://www.youtube.com/watch?v=MGVRnETC9gM

  26. ModificationsOfEarthPopulationConfiguration on Fri, 6th May 2022 2:14 pm 

    0:00 to 0:05 man morphing from insectoid to reptiloid. Mouth forward, big mouth, eyes slowly moving by the side of the head.

    I respected the design criteria of earth, that one unique race is not allowed, we must have multiples races. I am respectful of earth designs rules.

    https://www.youtube.com/watch?v=aRgqsNsB7Ig

  27. ModificationsOfEarthPopulationConfiguration on Fri, 6th May 2022 6:29 pm 

    I will deal with all the Jews eventually the same way that I am changing earth population configuration, killing all vegetation and giving none human deadly facial cancer.

    I need to find a proper torture technic for the jews only,that the zero point field will easily understand.

    https://www.zerohedge.com/geopolitical/putin-issued-rare-apology-israel-ukraine-focused-phone-call

    According to The Saker no apology happened.

    This is a Kremlin released transcript of the phone call.

    http://en.kremlin.ru/events/president/news/68356

  28. IRemoveMyConsentForALightBody on Sat, 7th May 2022 12:44 am 

    I remove my consent to receive a body upgrade. I don’t want to receive a light body and I am not consent to eternal life. I want to die as an human on this dumb ass earth and never reincarnate. My soul energetic should be destroyed at the moment of the dead of my flesh body.

  29. DyingGreenVegatationAllAroundTheWorld on Sat, 7th May 2022 10:15 am 

    Interesting, brown and yellow, the color of death for green vegetation.

    6:47 brown, yellow and dying green vegetation.

    https://www.youtube.com/watch?v=ISXMyAKBUUo

  30. ExecutionList on Sat, 7th May 2022 4:29 pm 

    I demanded that my neighbor that has two cars of brand Toyota be executed. Does not matter how the zero point field do it, as long as they suffer a lot. I want the mentally challenge boy, the daughter, the wife and husband dead.

  31. ExecutionList on Sat, 7th May 2022 4:34 pm 

    I demanded that my neighbor that has Toyota and Volkswagen cars parked in their driveway be executed. Does not matter how the zero point field do it, as long as they suffer a lot. I want the son, daughter, the wife and husband dead.

    Apparently, the world knows who I am. So you know who is killing you now.

  32. ExecutionList on Sat, 7th May 2022 4:37 pm 

    I will also get all the Jews tortured to death. I don’t know how to present me demand to the zero point field so he can understand it easily. Give me some time fucking useless, liar Jews.

  33. InsectoidMorphingIntoReptiloid on Sat, 7th May 2022 7:42 pm 

    Insectoid morphing into a reptiloid. Profile 0:47. You flatten the on top of the elongated mouth and keep only two breathing hole. You move the mouth forward. This should give you a bigger mouth. Move the mouth forward by another 2 inch. You should have some kind of TRX humanoid.

    https://www.youtube.com/watch?v=8zT_GK24qfk

  34. InsectoidMorphingIntoReptiloid on Sat, 7th May 2022 7:45 pm 

    Insectoid morphing into a reptiloid. Profile 0:47. You flatten the nose on top of the elongated mouth and keep only two breathing hole. You move the mouth forward. This should give you a bigger mouth. Move the mouth forward by another 2 inch. You should have some kind of TRX humanoid. Finally move the eyes by the side of the head. The forget to change the flat teeth to pointy teeth.

    https://www.youtube.com/watch?v=8zT_GK24qfk

  35. InsectoidMorphingIntoReptiloid on Sat, 7th May 2022 8:31 pm 

    Insectoids eyes morphing or moving by the side of the head to create a reptiloid specie. 2:25

    The goal of creating two specie is to watch them fight to death for the control of earth.

    https://www.youtube.com/watch?v=3hRteoQUC94

  36. Biden's hairplug on Sun, 8th May 2022 1:51 am 

    “Megalopolis x Russia: Total War”

    https://thesaker.is/megalopolis-x-russia-total-war/

    The micro-picture is also clear. The U.S. Deep State is milking to Kingdom Come its planned Ukraine gambit to cloak a strategic attack on Russia. The “secret” was to force Moscow into an intra-Slav war in Ukraine to break Nord Stream 2 – and thus German reliance on Russian natural resources. That ends – at least for the foreseeable future – the prospect of a Bismarckian Russo-German connection that would ultimately cause the U.S. to lose control of the Eurasian landmass from the English Channel to the Pacific to an emerging China-Russia-Germany pact.

    The American strategic gambit, so far, has worked wonders. But the battle is far from over. Psycho neo-con/neoliberalcon silos inside the Deep State consider Russia such a serious threat to the “rules-based international order” that they are ready to risk if not incur a “limited” nuclear war out of their gambit. What’s at stake is nothing less than the loss of Ruling the World by the Anglo-Saxons.

    Escobar probably means the owners of the Anglo-Saxons, but the children aren’t in bed yet.

    And the Chinese are in an extremely comfortable position: they can pick their moment of war entry when it suits them. No need to rush. Let these whites thin each other out a little before that happens, you hear them think.

  37. Biden's hairplug on Sun, 8th May 2022 4:02 am 

    There is now going to be a prestige battle about who will manage first to escape from black hole UK: Scotland or Northern Ireland? And then there is runners-up Wales.

    https://www.thenational.scot/politics/20122352.scotland-northern-ireland-election-earthquakes-signal-end-union/

    “From Scotland to Northern Ireland, election earthquakes signal end for Union”

    As we all remember, the UK was a creation of the Dutch army, more than 300 years ago. It lasted long, but many a Rembrandt will survive this geopolitical masterpiece, that once owned 25% of the world’s land mass, until it decided to wage war against Germany, which they almost lost and forced them to bring in the US, their future overlord.

    https://documents1940.wordpress.com/2020/02/16/great-britain-is-a-creation-of-the-netherlands/

    “Great-Britain is a Creation of the Netherlands”

    R.I.P. Britain.

    According to Dutch beer tycoon Freddy Heineken, the UK could fall apart into 10 pieces. The dismemberment of the UK could very well trigger a similar development in continental European states. Prime candidates: Belgium, Spain, Italy. But in Germany and France, this potential exists too:

    https://parisberlinmoscow.wordpress.com/2021/05/03/the-united-statelets-of-europe/

    “The United Statelets of Europe”

  38. Duncan Idaho on Sun, 8th May 2022 11:13 am 

    “A secret question hovers over us, a sense of disappointment, a broken promise we were given as children about what our adult world was supposed to be like. I am referring not to the standard false promises that children are always given (about how the world is fair, or how those who work hard shall be rewarded), but to a particular generational promise—given to those who were children in the fifties, sixties, seventies, or eighties—one that was never quite articulated as a promise but rather as a set of assumptions about what our adult world would be like. And since it was never quite promised, now that it has failed to come true, we’re left confused: indignant, but at the same time, embarrassed at our own indignation, ashamed we were ever so silly to believe our elders to begin with.

    Where, in short, are the flying cars? Where are the force fields, tractor beams, teleportation pods, antigravity sleds, tricorders, immortality drugs, colonies on Mars, and all the other technological wonders any child growing up in the mid-to-late twentieth century assumed would exist by now? Even those inventions that seemed ready to emerge—like cloning or cryogenics—ended up betraying their lofty promises. What happened to them?”

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