1g Gold : 5000Rubles

[HKSLIVER]

The Russian Central Bank pegged 1 gram of gold to 5000 Rubles.

https://gab.com/NeonRevolt/posts/108026435751497428

 

Edited March 30, 2022 by HKSLIVER

[LawrenceChard]

2 minutes ago, HKSLIVER said:

The Russian Central Bank pegged 1 gram of gold to 5000 Rubles.

Https://gab.com/MNeonRevolt/posts/108026435751497428 

To save everyone working that out, (equivalent in £, $, €, per ounce, etc, do you fancy doing the calculations, and posting them here?

😎

[HKSLIVER]

3 minutes ago, LawrenceChard said:

To save everyone working that out, (equivalent in £, $, €, per ounce, etc, do you fancy doing the calculations, and posting them here?

😎

I dont think i have the ability to do this 

[LawrenceChard]

To lend some historical perspective:

A gold Imperial 10 Roubles was very similar in specifications to a British gold sovereign.

https://taxfreegold.co.uk/russian10roubles.html

The current intrinsic value of a sovereign is about £340.

The current intrinsic value of a 10 ruble coin would be about the same.

It's intrinsic value in rubles would at the above exchange rate works out at 38,700 rubles.

Since 1899, the pound sterling has therefore devalued by a factor of 340, while the ruble has devalued by a factor of 3,870.

It would also be interesting to do a similar comparison from about 1991 to now.

😎

 

Edited March 29, 2022 by LawrenceChard

[Mox]

Can't see that link @HKSLIVER, I was just reading about this here:

https://tomluongo.me/2022/03/28/got-gold-rubles-russia-just-broke-the-back-of-the-west/

[LawrenceChard]

1 hour ago, Mox said:

Can't see that link @HKSLIVER, I was just reading about this here:

https://tomluongo.me/2022/03/28/got-gold-rubles-russia-just-broke-the-back-of-the-west/

The link says:

RUB5000 to the ounce at an exchange rate of 100 RUB/USD implies a $1550 per ounce gold price.

Current spot is $1917.10 https://www.chards.co.uk/gold-price/ounce/usd/year

So $1550 is a bargain buying price, and if the ruble goes down even more, it will be even more of a bargain.

Now, if they were offering to sell their gold at $1550, their gold reserves would be cleared out in minutes.

 

[papi1980]

17 minutes ago, LawrenceChard said:

The link says:

RUB5000 to the ounce at an exchange rate of 100 RUB/USD implies a $1550 per ounce gold price.

Current spot is $1917.10 https://www.chards.co.uk/gold-price/ounce/usd/year

So $1550 is a bargain buying price, and if the ruble goes down even more, it will be even more of a bargain.

Now, if they were offering to sell their gold at $1550, their gold reserves would be cleared out in minutes.

 

I agree, I think they are betting that West does not have enough gold to cover its demand for gas / oil. Premise is, "We will offer you as much oil and gas you would like, even at a bargain price compared to gold, so you can not complain. If you don't have gold, we even offer you in roubles, if you can find them"...;) Even if the rouble falls, it will be still hard for EU to source roubles and even if they do, they will support the currency. In the other way, if EU decides to pay in gold, it will increase demand for gold....If EU decides to boycott, gas stops.....in chess that is called zugzwang (a situation in which the obligation to make a move in one's turn is a serious, often decisive, disadvantage)    

[dicker]

A great word of the day.  Not one I have come across before!

[Abyss]

Sorry maybe bit off topic

BREAKING: Russia Makes Case For GOLD...But Nobody Noticed

GoldSilver (w/ Mike Maloney)

https://www.youtube.com/watch?v=nFTc5mBGJWY

[HKSLIVER]

15 hours ago, Mox said:

Can't see that link @HKSLIVER, I was just reading about this here:

https://tomluongo.me/2022/03/28/got-gold-rubles-russia-just-broke-the-back-of-the-west/

Oh...no. The link is dead now.

But I found below from my friend. This time I post the text not the link.

 

The Central Bank of Russia has officially announced that, as of March 28, 2022, the Russian Ruble currency is BOUND to Gold.  The rate is 5,000 Rubles per gram of gold bullion.

 

There are 28 grams in each ounce.  28 grams times 5,000 rubles per Gram is 140,000 Rubles.   Ya with me so far?

 

The conversion rate of Rubles to U.S. Dollars is 100 Rubles, 90 Kopecs, to each US Dollar.

 

If Rubles are bound to Gold at 5000 Rubles per gram, and there are 28 grams per ounce, meaning one ounce of gold would cost 140,000 Rubles, then converting that to US Dollars means Gold is $1400 per ounce when using Rubles, instead of $1,928 per ounce using Dollars.

 

Russia just wiped out about thirty percent (30%) of the value of the US Dollar, worldwide, when it comes to Gold Bullion.

 

People around the world will be literally THROWING their money at the Ruble and DUMPING Dollars and EUROS to do it.

 

What Russia just did is the financial equivalent of detonating a nuclear bomb

Edited March 30, 2022 by HKSLIVER

[Happypanda88]

The way of measuring gold and silver can be confusing to new collectors. The troy ounce is used to measure bullion whereas the regular ounce is used to measure other goods, such as food. A regular ounce is 28.35 grams, while a troy ounce is 31.1 grams. One kilogram is equal to 32.1507 troy ounces.

Edit: As in the article:

 The Bank of Russia is now a buyer of gold at 5000 rubles to the gram, or 155,500 rubles to the troy ounce.  At a Friday March 25th closing price of RUB96.62 vs. the USD that implies a gold price of $1610 per ounce.

Edited March 30, 2022 by Happypanda88

[CollectForFun]

4 hours ago, HKSLIVER said:

People around the world will be literally THROWING their money at the Ruble and DUMPING Dollars and EUROS to do it.

So... how much of your dollars and euros have you and your friend already THROWN at the ruble..???😃

[Toshunya86]

Not an expert , but the fixed peg can change . 

which means that if the rubles strengthens (which will be the case) , they can change the fixed ratio gold/ruble.

Great to see a "dedollarization" happening.

Edited March 30, 2022 by Toshunya86

[SilverStorm]

On 29/03/2022 at 11:10, LawrenceChard said:

The link says:

Now, if they were offering to sell their gold at $1550, their gold reserves would be cleared out in minutes.

 

This is where the phrase "backup the truck" is applicable!  😀

[SilverStorm]

7 hours ago, Toshunya86 said:

Not an expert , but the fixed peg can change . 

which means that if the rubles strengthens (which will be the case) , they can change the fixed ratio gold/ruble.

Great to see a "dedollarization" happening.

Umm...be careful what you wish for.   It might come and bite you.  

Dedollarization = collapse of US dollar as global reserve currency = global SHTF.  Dedollarization will happen, but I hope not in my lifetime.  Because if you think economic conditions are bad now, you ain't seen nothing yet.   

 

[HKSLIVER]

14 hours ago, SilverStorm said:

Umm...be careful what you wish for.   It might come and bite you.  

Dedollarization = collapse of US dollar as global reserve currency = global SHTF.  Dedollarization will happen, but I hope not in my lifetime.  Because if you think economic conditions are bad now, you ain't seen nothing yet.   

 

the world is monopoly by USD for a long time.

If dedollarization is happened, the economics must be panic. But I dont think it is bad for the future.

Edited March 31, 2022 by HKSLIVER

[Toshunya86]

14 hours ago, SilverStorm said:

Umm...be careful what you wish for.   It might come and bite you.  

Dedollarization = collapse of US dollar as global reserve currency = global SHTF.  Dedollarization will happen, but I hope not in my lifetime.  Because if you think economic conditions are bad now, you ain't seen nothing yet.   

 

I am not necessarily wishing it , i know it will backfire at us , but maybe better to be poor and restart on a  good basis where nations and sovereign currencies are respected , than this big house of cards which leads us to WW III