Peter Koenig is an economist and geopolitical analyst. He is also a former World Bank staff and worked extensively around the world in the fields of environment and water resources. He writes regularly for Global Research, ICH, RT, Sputnik, PressTV, CounterPunch, TeleSur, The Vineyard of The Saker Blog, and other internet sites. He is the author of Implosion – An Economic Thriller about War, Environmental Destruction and Corporate Greed – fiction based on facts and on 30 years of World Bank experience around the globe. He is also a co-author of The World Order and Revolution! – Essays from the Resistance.
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Copyright © Peter Koenig, Global Research, 2016
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On 19 April 2016, China was rolling out its new gold-backed yuan. Russia’s ruble has been fully supported by gold for the last couple of years. Nobody in the western media talks about it. Why would they? – A western reader may start wondering why he is constantly stressed by a US dollar based fiat monetary systems that is manipulated at will by a small elite of financial oligarchs for their benefit and to the detriment of the common people.
by Peter Koenig, Global Research:
In a recent Russia Insider article, Sergey Glaziev, one of Russia’s top economists and advisor to President Putin said about Russia’s currency, “The ruble Is the most gold-backed currency in the world”. He went on explaining that the amount of rubles circulating is covered by about twice the amount of gold in Russia’s Treasury.
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