The following message is making the rounds in Telegram:
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The Central Bank of Russia has officially announced that the Russian currency, the ruble, will be pegged to gold from March 28, 2022. The rate is 5.000 rubles per gram of gold bullion.
One ounce is 28 grams. 28 grams times 5.000 rubles per gram is 140.000 rubles. can you follow me up to here
The exchange rate from rubles to US dollars is 100 rubles, 90 kopecks for each US dollar.
If rubles are pegged to gold at 5000 rubles per gram and there are 28 grams per ounce, meaning that an ounce of gold would cost 140.000 rubles, then converting to US dollars means that gold in rubles is 1400 dollars per ounce instead of 1,92 $.8 costs XNUMX dollars an ounce in it.
Russia has just wiped out approximately thirty percent (30%) of the value of the US dollar in gold barion globally.
People all over the world will literally throw their money on the ruble, throwing away dollars and euros.
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We're talking about 28 grams per ounce. However, this is the ROMAN measure of ounces. If you buy an ounce of gold today, it's 31,1 grams, which is about a 10% difference. So the question is: why is the Roman measure used here?
Who wants to invest in gold:
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