Austin wrote:kvs or some one can tell me what happens if Rouble currently pegged against USD/Euro moves to pegging against Yuan/Gold ?
Is that something possible and can be tried as long term solution ?
In few years Russia will have their own gold backing for Ruble without the rest of reserves. The only thing we are actually waiting is Chinese show of real size of Chinese gold reserves and provoking of US to show their real reserves, which are most probably at 0 tons as China buy them all. Than USD and Euro will fall against gold, while Ruble and Yuan will keep their value against gold as they will have gold backing. This will bring an opposite situation, when you will have to pay a lot of USD or Euros for 1 Ruble or Yuan.