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The New Golden Rouble

Apr 08, 2014

Symbols and logos always have meaning, especially when it comes to monetary symbols. It appears that Russia’s President Putin has announced a new logo to represent the Central Bank of Russia and its currency, the rouble (or ruble).


It has been in the works for quite a while, but it appears that JP Morgan’s recent refusal to allow a small check to go through the Fed has given Putin the perfect reason to announce this now. It is a strong hint that the rouble is to be backed by gold in the new Eastern system that is now being implemented.

Perhaps it also hints that Russia willing to accept payment for oil and gas in gold, rather than in dollars.

Thanks to the US sanctions, Putin is able to speed up the death spiral of the US dollar.

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Category: Financial
Blog Author: Dr. Stephen Jones