RSX - Russian Stocks A Bargain With Ruble On De Facto Gold Standard

It’s not being widely reported, but the gold standard is back, at least in Russia. Since the last financial crisis, Russia has more than quadrupled its gold reserves, at least according to official data. See the chart below from the World Gold Council:

There has long been a buzz, especially within the gold investing community, that the Russians are slowly but surely backing the ruble with gold in a quest to dedollarize. Putin has come out against the dollar as the international currency reserve for quite some time, most recently earlier this month:

“Deep

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