The Russian central bank is attempting to put a floor under the price of gold and the exchange value of the Russian ruble. From Ronan Manly at bullionstar.com:
With Russia’s central bank having just profoundly altered the international trade and monetary system by linking the Russian ruble to both gold and commodities, the journalists at in Moscow asked me to write a Q and A article on what these developments mean, and the ramifications of these changes on the Russian ruble, the US dollar, the gold price and the global system of currencies. This article has been published on the RT.com website.
Regular readers will recall that I have contributed to quite a few RT.com articles before, such as about Australian gold (see BullionStar), US Treasury gold (see BullionStar ), Poland’s gold (see RT site ), China’s gold (see RT’s Spanish site ), why buy physical gold (see RT site ), and gold price manipulation (see RT site).
However, since RT.com is now blocked and censored in many Western locations such as the EU, UK, US and Canada, and since many readers may not be able to access the RT.com website (unless using a VPN), my Questions and Answers that are in the new RT.com article are now published here in their entirety.