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Russia gold and currency





 

Russia has significant gold reserves. Various things could happen with it.

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/ -).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 – 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/





Posted by on 9. March 2022. Filed under Internet, Picture Gallery. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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