On New Years Eve, I gave 3 predictions for 2015. One of them was that Russia would tie the Rouble to gold and partially back it with physical gold. A long shot, I must admit, but I explain here why I think Russia should consider it: peterlewis.hk/golden-ruble/ However, Im now wondering if it is such a long shot after all. Data just out shows that in December 2014 Russias gold reserves rose by their fastest amount in 6 months to US$46 billion, the highest since April 2013. Furthermore, Russia is selling its holdings of US treasuries at a very fast pace. Is de-dollarisation going on? Peter Lewis
Posted on: Mon, 19 Jan 2015 00:33:47 +0000
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