by Vikrant Thardak
\nTFIGlobal<\/p>\n
Trump said that Putin is a really smart leader. Well, he said this for a reason! Even before invading Ukraine, Putin had prepared himself to deal with the imminent sanctions. But it was the dumb leaders of the West who couldn\u2019t match Putin\u2019s shrewdness. Biden imposed, what he termed as \u201ccrippling\u201d sanctions on Moscow and excitingly waited for the Russian economy to \u201cblow up.\u201d<\/p>\n
But much to Biden\u2019s chagrin, that delusion never saw the light of the day. Now, consider Russia\u2019s steps to shore up its currency\u2014the Ruble. Russia, with\u00a0three major steps<\/a>, has effectively recovered the lost valuation of its currency. And now market experts say that the Russian Ruble is now more stable than the US dollar!<\/p>\n Recently, the Russian central bank announced that it will put the ruble on a gold standard. The bank pegged 1 gram of gold to 5,000 rubles. Now that means, one troy ounce of gold or 32 grams of Gold would now cost 1,60,000 rubles in Russia. At the current exchange rate, 32 grams of gold would cost roughly $1,600 in Russia.<\/p>\n But wait, in the US, the same quantity of gold would cost you $1,928. That means Russia has effectively ratcheted up its currency\u2019s value against the dollar by pegging it to gold. If, 1 gram of gold is bound to 5000 rubles, then according to Western standards, the ruble must be valued at 70-75 units against 1 dollar.<\/p>\nRussian puts the ruble on the gold standard<\/strong><\/h4>\n