“Great. The Kremlin confirms its intention to support the ruble with gold!” Published by Charles SANNAT

"Great. The Kremlin confirms its intention to support the ruble with gold!" Published by Charles SANNAT

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My cheeky ones, my cheeky ones,

Your Strategy Letter for April is finally online and available in your readers’ areas thanks to the efforts of the IT expert who just managed to fix a persistent error after updating the site … I’m sorry for that late.

This article is very important. I am translating this interview, the comments of which shed light on the stakes of the current war, in which the conflict in Ukraine is only one of the most violent.

The Kremlin confirms its intention to support the ruble with gold and commodities

In an interview with the Rossiyskaya Gazeta (RG) newspaper on Tuesday, April 26, Russian Federation Security Council Secretary Nikolai Patrushev said Russian experts were working on a project to link the Russian ruble to gold, gold and other goods.

The interview, which is in Russian, can be viewed on RG’s website here.

For those who do not know the name of Nikolai Patrushev (which is normal!), The latter is one of the most powerful security and intelligence agents in Russia and a close ally of Putin. After serving as director of the Russian Federal Security Service (FSB) (the successor to the KGB) from 1999 to 2008, Patrushev became secretary of the Russian Security Council in 2008.

In fact, Mr. Patrushev succeeded the previous holder of the position, Vladimir Putin, as director of the FSB in 1999.

The Security Council requested that in addition to the International Atomic Energy Agency’s ongoing inspections in Russia, that it monitor Russia’s compliance with “the steps required by the IAEA Board”. Vice President of the Security Council is Dmitry Medvedev, former President and Prime Minister of Russia.

Other members of the Security Council include incumbent Russian Prime Minister Mikhail Misustin and Russian Foreign Minister Sergei Lavrov.

So when Nikolai Patrushev says that Russia is working on a plan to support the ruble with gold and commodities, it is not just someone who says that, but the highest levels of the Russian government.

Intrinsic value

Here’s the gist of the debate.

Question from RG: And what do we need to do to ensure the ruble’s dominance?

Nikolai Patrushev: “In order for a national financial system to be sovereign, its means of payment must have intrinsic value and price stability, without being tied to the dollar.

Today, experts are working on a project proposed by the scientific community to create a two-circuit monetary and financial system.

In particular, it is proposed to determine the value of the ruble, which should be supported by both gold and a group of goods that are monetary values, and to align the exchange rate of the ruble with the real market exchange rate. power. »

So this is it. The Russian government is actively working to create a Russian ruble backed by gold and commodities, with intrinsic value outside the US dollar.

A new orthodoxy

Following Patrushev’s remarks on a ruble with gold and commodities, RG’s interview proceeds as follows:

Question by RG: Similar ideas have been expressed in the past. However, some experts have said that they contradict the conclusions of economic theory…?

To which Nikolai Patrushev replies:

“They do not contradict the conclusions of economics, but rather the conclusions of Western economic manuals.

The West has unilaterally appropriated a spiritual monopoly on the optimal structure of society and has been using it for decades.

We are not opposed to a market economy and participation in global production chains, but we know very well that the West allows other countries to be its partners only when it is profitable to do so.

Therefore, the most important condition for ensuring Russia’s financial security is to rely on the country’s internal potential, a structural adaptation of the national economy to a modern technological base. »

Penalties.

As for the real economic sanctions and the freezing of Russia’s foreign exchange reserves held abroad, Patrushev said that by imposing sanctions on Russia, “the West is hitting not only Russia but also itself” and undermined confidence in Russia. US dollar as a de facto world reserve currency:

“The current global financial system is based solely on trust, including the United States as the issuer of the world reserve currency. Half a century ago, the gold factor was present, but in 1971 the United States released its currency from its prices, which allowed money to be issued virtually out of control. »

The West against the rest of the worldmi!

Elsewhere in the interview, Patrushev drops some bomb-making comments about how Russia is stepping up cooperation with the non-Western world, comments that have not yet been appreciated by the mainstream Western media.

“I am convinced that we will solve all the problems that have arisen as a result of the reduction of sanctions.

Today, Russia is moving from the European market to the markets of Africa, Asia and Latin America.

We give priority to the WAEU, whose importance is growing significantly in the current circumstances.

We are strengthening cooperation with the BRICS and SCO countries, which bring together about three and a half billion people on the planet. »

Note – EAEU stands for Eurasian Economic Union. The EAEU, established in 2015, is a free trade area and customs union comprising Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan. See the EAEU website here.

The SCO refers to the Shanghai Cooperation Organization. The SCO, established in 2001, is an international intergovernmental group comprising the eight Member States of China, Russia, India, Kazakhstan, Pakistan, Uzbekistan, Kyrgyzstan and Tajikistan, as well as four observers, Belarus, Iran, Afghanistan and Mongolia. other dialogue partners, namely Turkey, Azerbaijan, Armenia, Cambodia, Nepal and Sri Lanka.

The BRICS refer to the five largest emerging economies in the world and include Brazil, Russia, India, China and South Africa. BRICS was founded in 2006 and is now an official group, with BRICS countries formally cooperating and meeting on an annual basis. The 2022 BRICS summit will be held in China.

EAEU. OCS. BRICS. Three and a half billion people. And now a ruble backed by gold and commodities. Something to worry about in the western media.

CONCLUSION – Towards a new gold standard?

Well not only!

What we are seeing now is Nikolai Patrushev and the Kremlin confirming this simple equation of linking the Russian ruble to gold and commodities. In other words, it is the beginning of a multilateral monetary system backed by gold and commodities.

So we have a terrible fight, a fight to the death for the monetary domination of the world.

Russia wants to propose an alternative system that will be, say, clearly in its favor.

Why ?

Because in a world where raw materials are scarce, those who have them have a competitive advantage that is both monstrous and obvious.

However, Russia is also the largest country on the planet and the richest subsoil.

In this sense, China needs more of China’s natural resources than Western customers who pay with monkey money!

You can clearly see that we are in a total war for the definition of the new world order, for the division of wealth, for the division of the world, for the domination of this world and of course we have very important monetary implications, since here we are talking neither more nor for a new international monetary system.

It will occur at the end of this war.

We are only at the beginning and two months after the assassination of an Archduke in Sarajevo, no one in 1914 believed that the war would last for years and take the lives of tens of millions of men.

There is no small war in Europe.

It’s already too late, but not everything is lost.

Prepare!

Charles Sunnat

“Insolentiae” means “insolence” in Latin
Write to me charles@insolentiae.com
To write to my wife helene@insolentiae.com

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