Russia Moving Closer to a Gold Standard – Official

• Russia Moving Closer to a Gold Standard – Official
  by https://www.rt.com/
  Moscow is working on linking the price of the ruble to bullion and other commodities, security council says
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  Russian experts are working on a project to create a two-loop monetary and financial system in the country, Secretary of the Security Council Nikolay Patrushev said on Tuesday, in an interview with Rossiyskaya Gazeta.
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  He explained that the project involves the provision of the Russian currency with both gold and a range of goods representing a currency value. As a result, the ruble exchange rate would correspond to its real purchasing power parity, he said.
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  To ensure the sovereignty of any national financial system, it is necessary that its means of payment have intrinsic value and price stability, and is not tied to the dollar, Patrushev said. Another important condition for Russian economic security is the restructuring of its economy based on modern technologies, he added.
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