The only idiots are the western nations burning money in Ukraine while the Russian ruble is raising and backed by gold
The ruble is at 66 to the American fiat vapordollar.
“the Russian ruble is raising and backed by gold”
The ruble is only rising on the Russian government controlled domestic market. Starting on June 6th the Trade Association for the Emerging Markets will be using international pricing data as a primary settlement rate option for currency trades and contracts.
In short, the onshore and offshore trading rates for the ruble will resume their Soviet-era posture where the rate within Russia was held up by dictatorial fiat and the international rate was delineated by trading volumes.
Translation: You might want to ditch your ruble holdings while you can.
So the old "this is just making Russia stronger" argument. Then great! If everything we're doing is just making Russia stronger, then Russia has no reason to be upset at us, nor any reason to expand the war. After all, the war is great for Russia! In fact, Putin has no cause to complain unless we stop supporting Ukraine!
Putin is just digging his hole deeper.
At this point, especially if the Baltics get hot during this war, there is no positive way out for Russia.
I bet China is salivating at the opportunity to conquer Siberia and Eastern Russia.
Backed by Gold?
Really never could understand mans attachment to some shiney metal used mostly to make trinkets...
That said, if I cant go to a Russian bank and exchange my rubble for gold,then its not really backed by gold