That automatically resets the value ratio between the rouble and the dollar. Nobody will pay $68 when they can convert to roubles and pay the equivalent of $52.
It also prevents the West from sleight of hand value manipulations of the rouble on international markets.
I still don't understand why a bank would sell gold at $52- per gram when the current price is $68- per gram.
That automatically resets the value ratio between the rouble and the dollar. Nobody will pay $68 when they can convert to roubles and pay the equivalent of $52.
It also prevents the West from sleight of hand value manipulations of the rouble on international markets.
TY. Now I get it.
Banks don’t sell gold. Banks sell paper.