Russia, a gold backed currency?

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investorzzo's picture
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Russia, a gold backed currency?

Which brings us to the point. We think there is a greater chance than many that gold will be a factor in currency backing in the not too distant future.

Why a gold backed currency is more likely than you think:

1- Russia and Germany are working towards forming an alternative to the dollar as medium for exchange between their two economies. Most likely this will have some weighting of commodities in it. Natural Gas would be an obvious choice, since Russia exports to western Europe through the region.

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