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RT — Russia bringing back the gold standard may kill US dollar & solve main problem of cryptocurrencies

Summary:
The headline is a bit sensational (clickbait) but the head of the Central Bank of Russia is positive about considering it, although she doesn't see it as the priority. The Central Bank of Russia (CBR) is studying a proposal to create a gold-backed cryptocurrency, which could be used for cross-border settlements with other countries.The bold proposal was made by Russia’s State Duma member Vladimir Gutenev. He has suggested initiating discussion to set up national cryptocurrency, denominated in gold. Commenting on Gutenev’s proposal, the head of CBR Elvira Nabiullina said: “As for mutual settlements, we will consider, of course, a proposal on a cryptocurrency that is tied to gold. But, in my opinion, it is more important to develop settlements in national currencies.” RTRussia bringing

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The headline is a bit sensational (clickbait) but the head of the Central Bank of Russia is positive about considering it, although she doesn't see it as the priority.
The Central Bank of Russia (CBR) is studying a proposal to create a gold-backed cryptocurrency, which could be used for cross-border settlements with other countries.

The bold proposal was made by Russia’s State Duma member Vladimir Gutenev. He has suggested initiating discussion to set up national cryptocurrency, denominated in gold.
Commenting on Gutenev’s proposal, the head of CBR Elvira Nabiullina said: “As for mutual settlements, we will consider, of course, a proposal on a cryptocurrency that is tied to gold. But, in my opinion, it is more important to develop settlements in national currencies.”
RT
Russia bringing back the gold standard may kill US dollar & solve main problem of cryptocurrencies
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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