CEF - Russia's 3-Step Program To Put The Ruble On A Gold Standard

• Step 1: Offer a premium fixed price for gold to domestic Russian banks who can't sell their gold internationally due to sanctions, encouraging domestic gold flows into Bank of Russia.
• Step 2: Strengthen the Ruble internationally by insisting on energy payments in Rubles, turning fixed price into a premium internationally as well, encouraging international gold flows into Russia.
• Step 3: Turn the Ruble into a credible gold substitute at a fixed rate.
• The 5000RUB window closes June 30. Does Russia declare the Ruble convertible to gold after that? At what rate? Rather than speculate on the Ruble, just buy the gold.

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