Russia returns to Gold standard
COMEDY GOLD
https://gettr.com/post/pxya2e29ae
The government will abolish the VAT (tax) on bullion. This Bill will go to the State Duma on March 4. Going forward - when purchasing gold bars or other precious metals from a bank, the 20% current tax on top of its value will not apply.
This is a way to ensure people can invest securely in something other than the dollar (usually people hold their cash in dollars as the ruble is volatile.)
- Counter sanctions commission. t.me/Whiplash347/94331
UPDATE: Links added
https://mobile.twitter.com/KingKong9888/status/1499010224744644609
I don't think removing a tax on retail gold purchases exactly means that a country has changed to a gold standard. A gold standard means there is gold backing the national currency. Arizona and other states do not charge sales tax on gold purchases.
Having visited Russia about 13-14 times, I can tell you that they have currency exchanges at every metro station and in each neighborhood, even in areas where there may not be a lot of tourists. My fees at Russian language schools were noted in EUR and I was asked to pay the equivalent at the time in RUB. There is a mindset of not trusting the ruble, and many people either kept USD or EUR bank accounts, or simply held foreign currency. Now that physical transport of USD and EUR to Russia may be difficult or impossible, removing sales tax simply makes it easier for the average person to keep wealth in gold, but by no means does this imply the existence of a gold standard.
ItS hAbBeNiNg