Posted on 03/30/2022 4:31:12 PM PDT by PK1991
How much gold is mined per annum in Russia?
“March 28, 2022”
Old News....
i spotted a math error.
There are 31.1 grams in an ounce, not 28.
You probably don’t believe me until you realize gold is measured in troy ounce
I could get you a number but it probably is wildly inaccurate. We don’t even really know how much gold is in Fort Knox. How do you tie it in though?
I wish Nixon hadn’t removed us from it.
Our nation would be much more healthy financially at this
moment.
Seems like Putin tried to call people’s bluff, and not many
are buying in.k
Europe told him to stuff his Rubles.
I would be more impressed if they were buying rubles and paying in gold rather than buying gold by paying in rubles.
5,000,000 rubles per kilo of gold.
Seems like I remember Gaddafi going to the gold standard before we killed him. The central banks don’t like that.
“The ruble was trading at roughly 85 to the U.S. dollar, roughly where it was before Russia started its invasion a month ago. The ruble had fallen as low as roughly 150 to the dollar on March 7, when news emerged that the Biden administration would ban U.S. imports of Russian oil and gas.”
“gold is measured in troy ounce[s]”
Units DO matter. [At least that’s what the Physics Profs used to say before they went Woke...]
Well, it would seem to be a part of “assaying” the Money Supply.
A worthless proclamation without redemption.
Why not just declare $100 dollars to be worth an ounce of gold to address inflation?
CBs have a contract out on Pooty?
The author is using the wrong ounce. Troy ounces are used for precious metals which have 31.1 grams each.
I understand that they are number three worldwide.
The USA is number four.
The thing is...Russia is vast. They most likely dont know how much is there.
GD this pig faced as@hole that infests the white house.
I knew they were going to do this. Wrote about it a week ago.
I hadn’t known what the Rubble status was prior to the
sanctions, but it doesn’t surprise me. Currencies seem
pretty robust generally. If something big happens, they
rebound rather quickly.
That won’t stop a drop because of runaway inflation though.
Should that happen to us, ouch!
Wouldnt they use the meteric system instead?
Or is the troy ounce standard across the globe?
Mining has much to do with longer term “sustainability” of Au pegging.
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