by Hal Turner
27 March 2022
Information sent by CFGO
UPDATED 10:39 AM EDT
The Central Bank of Russia has
officially announced that, as of March 28, 2022, the Russian Ruble
currency is BOUND to Gold.
The rate is 5,000 Rubles per gram of gold
This story has been corrected to report "TROY" ounces as
opposed to 'dry' ounces, and the values recomputed to reflect there
are more grams per TROY ounce than in a dry ounce.
There are 32 grams in each TROY ounce. 32 grams times 5,000 rubles
per Gram is 160,000 Rubles.
Are you with me so far?
The conversion rate of Rubles to U.S. Dollars is 100 Rubles, 90
Kopecs, to each U.S. Dollar.
If Rubles are bound to Gold at 5000 Rubles per gram, and there are
32 grams per TROY ounce, meaning one ounce of gold would cost
160,000 Rubles, then converting that to U.S. Dollars means Gold is
$1600 per ounce when using Rubles, instead of $1,928 per ounce using
Russia just wiped out about thirty percent (30%) of the value of the
U.S. Dollar, worldwide, when it comes to Gold Bullion.
Worse, because Russia will only sell its oil and gas in Rubles, and
Rubles are now fixed at 5,000 Rubles per gram, anyone wishing to buy
Oil or Gas will need to either pay in Rubles or pay in Gold, and
they won't get
the U.S. Dollar value for the gold they tender as
People around the world will be literally THROWING their money at
the Ruble and DUMPING Dollars and EUROS to do it.
What Russia just did is the financial equivalent of detonating a
FWIW, the last guy on this planet who tried to back a currency with
Gold, was Muammar Kaddafi of Libya.
NATO went into Libya, bombed the shit out of it, until the people of
Libya grabbed Kaddafi on the street, beat him bloody, and put a
bullet in his head.
As of this hour, 10:39 PM EDT, I suspect
Bankers all over the world
are on the phones with each other and with heads of state,
instructing them that what Russia has done will totally smash both
the U.S. Dollar and the EURO, and those Bankers will be telling the
heads of State that World War 3 must commence 'immediately'...
Let me explain why.
Today, the Russian Central Bank pegged Rubles to Gold.
Last week, Russia declared they would only sell OIL and GAS in... Rubles.
This means Russian OIL and GAS are pegged to Gold with Rubles as the
proxy for Gold.
Europe (that needs Russian Gas and Oil) will now have to buy
Rubles from Putin using Gold, or pay for the Oil and Gas with Gold
Currently, the FOREX Rate for Rubles to Dollars is about 100:1
BUT... with 5,000 Rubles now equaling one gram of Gold, and oil
being priced directly in Gold, we are going to see a MASSIVE price
disruption in FOREX markets, in terms of how much Gold a Dollar can
Foreign countries holding our Dollar Debt Notes in Reserve, will see
an immediate, and far less use for them and will want to start
dumping them in favor of something more stable; something which
holds its value.
Basically, any currency pegged to Gold will fit the bill, which
means countries like that - like Japan - will start dumping their
Dollar Debt as fast as they can - they are NOT going to go down
with the ship!
They will move into more stable currencies, like... the Ruble.
This will have a DE-flationary effect on the Ruble, making it more
valuable over time.
This also means Putin can re-peg the Ruble any time he wants, to
like 500, or 50, or 10. IT just keeps getting more valuable for him.
The instant result is that all those foreign countries dumping their
Dollar Reserves will cause all those excess Dollars to start coming
home, triggering worse hyper-inflation than we already have now in
Is it any wonder why
Biden was on stage last week calling for
change in Russia...?
He is about to have masses of angry and literally
starving Americans marching through the streets here at home
UPDATE 10:39 AM
Russian President Vladimir Putin has made a public statement on
video about what has taken place with binding the Ruble to Gold.
In that statement, he points out that Western Nations have simply
STOLEN Russia's foreign currency reserves and Gold Bullion Reserves,
and by doing so, worldwide trust in so-called "First-Class" safety
of investing in the West, has been smashed.
He goes on to predict that people will now dump their holdings of
Dollars and EUROS to safer investments like,
land, food, and
Here is the video with English language caption:
Putin is correct.
The impact of what Russia has just done is a literal dagger to the
heart of the U.S. Dollar and to the EURO.
No one will want those
currencies anymore, and since the U.S. barely manufactures anything
domestically, when foreign countries cease accepting the dollar for
payment, shortages of everything will slam the U.S. and Europe.