Edging Towards a Gold Standard - LewRockwell LewRockwell.com

Edging Towards a Gold Standard - LewRockwell LewRockwell.com: Commentators are trying to make sense of Russian moves. However, there is a back story which differs from much of the speculation, which this article addresses. The Russians have not put the rouble on some sort of gold standard. Instead, they have repeated the Nixon/Kissinger strategy which created the petrodollar in 1973 by getting the Saudis to agree to accept only dollars for oil. This time, nations deemed by Russia to be unfriendly will be forced to buy roubles – roughly 2 trillion by the EU alone based on last year’s natural gas and oil imports from Russia — driving up the … Continue reading →