The end of the gold standard was not a single event. It happened in stages. The beginning of the end was in 1914, with the outbreak of World War One. The European powers ended convertibility of paper money into gold in order to finance the war through the printing press. This concluded the international monetary […]
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The Moscow World Standard is a proposal by Russia to create a new precious metals pricing standard to rival the London Bullion Market Association (LBMA) and the Commodity Exchange (COMEX). The argument is that the LBMA and COMEX are using leveraged shorts to suppress the price of gold. As a major exporter of gold, Russia
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Is Russia currently on the gold standard? Despite a lot of speculation to the contrary, the answer is no. In early 2022, in an attempt to defend the value of the rouble, the Russian Central Bank said that it would buy gold at 5000 roubles per gram. However all this meant was that the bank
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The classical gold standard was the monetary system of the 1870s to 1914. The world’s industrial powers defined their national currencies as a fixed weight of gold and paper money was freely convertible into gold by government and private citizens alike. It was a golden age in many ways as the world experienced a sustained
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Gold is important to the economy and the monetary system because its existence on central bank balance sheets gives fiat currency the credibility that it has. Governments and central banks like to pretend that gold is unimportant and is a relic of the past. This is wrong. While we no longer operate on the gold
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