Either way, raising Interest serves just one purpose, to Remove that one Currency, so maybe they're trying to get people OFF of the central Banks Currency and moved over to the NEw stuff.....
I am not sure what the difference is neither. If Russia is backing its currency with gold, announced earlier in the year, by implication they have returned to a gold standard, it should be the same across the board. A gold backed currency cannot be manipulated by speculators which is more or less all that exists of so-called investors in Wall Street these days.
I saw someone mention, this is the central banking backed ruble, not the BRICS backed ruble. I'm not sure the difference
Either way, raising Interest serves just one purpose, to Remove that one Currency, so maybe they're trying to get people OFF of the central Banks Currency and moved over to the NEw stuff.....
Raising interest rates are intended to get investors to support the ruble, is it not?
12% interest is a way of mitigating the risk. If the ruble is shaky you may not put your money there at 3%. At 12% it's a different calculation.
What is a "BRICS backed ruble"? I can't seem to find any information on such a thing.
Just did a quick search on GAW, might not be the best info
https://greatawakening.win/p/16c1uh3rhV/gold-backed-brics/c/
I am not sure what the difference is neither. If Russia is backing its currency with gold, announced earlier in the year, by implication they have returned to a gold standard, it should be the same across the board. A gold backed currency cannot be manipulated by speculators which is more or less all that exists of so-called investors in Wall Street these days.