The U.S. dollar can expect to take a pounding if Russian President Vladimir Putin carries out what appears to be a conversion of Russian currency to a gold-based standard.
Just this past September, Russia added another 1.1 million ounces of gold to it’s reserves, increasing the total amount of gold it possesses to a whopping 43.5 million ounces.
This theory is given even more credence by the fact that the massive country has added a combined total of 2.51 million ounces of gold to it’s holdings, marking the biggest gold reserve increase within a three-month timeframe in Russian history.
Check out the next page to see the increase in Russian gold reserves for yourself:
Nixon took us off the gold standard on August 15th, 1971 by abandoning a set conversion price. On June 5, 1933 Roosevelt confiscated all privately owned gold and set a $35.00 per troy ounce set price price.
Well he should feed his people if he is so rich. Lousy Dictator.
why doesn,t he pay us back for the money we gave him in wwii
…believe none of what you hear-half of what you see-and all of what you do…the one ounce federal coin is stamped $50…question that cannot be answered; WHAT IS A DOLLAR?
thank richard nixon for this
Since the Federal Reserve was created in 1913, our currency has dropped over 95% in value. THERE YOU HAVE IT. The reason our founders told us to never turn the treasury over to anyone else.
http://www.history.com/this-day-in-history/fdr-takes-united-states-off-gold-standard
Mark D. Sands http://www.history.com/this-day-in-history/fdr-takes-united-states-off-gold-standard
Mark D. Sands Glad you believe them, I don’t.
This is a look into the near future, and