If citizens can't go to a bank to trade Ruble for oil/gold, then it's a worthless paper currency like all the rest.
Also, the only "pegging" Russia has done so far, is "pegging" BUY price of gold to US$1450/oz, while the market price is US$1900 (aka. in Putin's favor).
So they are willing to pay you 75% of market rate using a worthless paper currency that no one wants. Wooow, what a deal! /s
Even if Russian GDP does well this year -- and they might, considering they won't have an oil and food shortage like NATO countries -- Ruble will still be SHIT.
If citizens can't go to a bank to trade Ruble for oil/gold, then it's a worthless paper currency like all the rest.
Also, the only "pegging" Russia has done so far, is "pegging" BUY price of gold to US$1450/oz, while the market price is US$1900 (aka. in Putin's favor).
So they are willing to pay you 75% of market rate using a worthless paper currency that no one wants. Wooow, what a deal! /s
Even if Russian GDP does well this year -- and they might, considering they won't have an oil and food shortage like NATO countries -- Ruble will still be SHIT.
They are also forcing countries to buy oil using the Ruble, or purchase from accounts in Russian banks.