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To: KarlInOhio

This want last long. See Gresham’s law of money.

CC


25 posted on 12/27/2012 9:29:27 PM PST by Captain Compassion
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To: Captain Compassion
This want last long. See Gresham’s law of money.

The "bad" paper rubles will drive out the "good" gold rubles. Which is exactly what happens with the US Mint's gold and silver collectors coins - they are never circulated unless some kid breaks into his dad's coin collection to buy candy.

I had originally thought it was Russia's attempt to move their money back to the gold standard. After looking at the numbers it is just the Russian treasury selling collectible gold, probably at above the spot rate for gold and to be able to coin it they have to give it some nominal value in rubles.

27 posted on 12/27/2012 10:14:42 PM PST by KarlInOhio (I'm tired of being beaten like a malcontent elf so Obama can pretend to be Santa.)
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