Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks Bull Market End Game Bear Start Strategy - 20th Mar 25
Gold and System Collapse: Charting the Bank Run of the Mighty US Dollar - 20th Mar 25
Tesla's Troubles — Is it Musk or is it More? - 20th Mar 25
The Stock Market Bear / Crash indicator Window - 9th Mar 25
Big US Tech Stocks Fundamentals - 9th Mar 25
No Winners When The Inflation Balloon Pops - 9th Mar 25
Stocks, Crypto and Housing Market Waiting for Trump to Shut His Mouth! - 27th Feb 25
PepeCoin (PEPE): Anticipating Crypto Reversals using Elliott Waves - 27th Feb 25
Audit the Fed, Audit Fort Knox, Audit Everything - 27th Feb 25
There Are Some Bullish Indicators in the Silver Market - 27th Feb 25
These Metrics Identify Only 10 AI Related Stocks That Are Undervalued - 27th Feb 25
Stocks, Bitcoin, Gold and Silver Markets Brief - 18th Feb 25
Harnessing Market Insights to Drive Financial Success - 18th Feb 25
Stock Market Bubble 2025 - 11th Feb 25
Fed Interest Rate Cut Probability - 11th Feb 25
Global Liquidity Prepares to Fire Bull Market Booster Rockets - 11th Feb 25
Stock Market Sentiment Speaks: A Long-Term Bear Market Is Simply Impossible Today - 11th Feb 25
A Stock Market Chart That’s Out of This World - 11th Feb 25
These Are The Banks The Fed Believes Will Fail - 11th Feb 25
S&P 500: Dangerous Fragility Near Record High - 11th Feb 25
Stocks, Bitcoin and Crypto Markets Get High on Donald Trump Pump - 10th Feb 25
Bitcoin Break Out, MSTR Rocket to the Moon! AI Tech Stocks Earnings Season - 10th Feb 25
Liquidity and Inflation - 10th Feb 25
Gold Stocks Valuation Anomaly - 10th Feb 25

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Russian Ruble to be made from Palladium

Currencies / Russia Jun 05, 2009 - 02:08 AM GMT

By: Pravda

Currencies

Boris Gryzlov, the speaker of the Russian Parliament, the State Duma, said that the participants of the Economic Forum in St. Petersburg would discuss a possibility of making ruble coins from precious metals.


“We could offer the world the Russian ruble made of palladium. It would be a very strong currency. One may recollect the golden ruble, which Russia had during the tsarist times. It was a freely convertible currency and was circulating very well,” Gryzlov told reporters Thursday.

The President of the Association of Russian Banks, Garegin Tosunyan said that the coins made of precious and semi-precious metals would obviously be in demand on the market. “It has little to do with convertibility, but it would be quite normal as a measure against inflation and devaluation. Why not?” he said.

State Duma deputy Anatoly Aksakov believes that such a measure would not be effective.

“Such coins will become a numismatic rarity, a must-have for private collectors. Golden ten-ruble coins used to play a positive role in domestic and international settlements indeed, although it was the period of hyperinflation. The Russian economy should be modernized to make the ruble attractive.

Palladium is a rare and lustrous silvery-white metal that was discovered in 1803 by William Hyde Wollaston, who named it after the asteroid Pallas, which in turn, was named after the epithet of the Greek goddess Athena, acquired by her when she slew Pallas.

Palladium, along with platinum, rhodium, ruthenium, iridium and osmium form a group of elements referred to as the platinum group metals (PGMs). Platinum group metals share similar chemical properties, but palladium has the lowest melting point and is the least dense of these precious metals. The cost of one gram of palladium makes up about $8.

Pravda.ru

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Pravda Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Adrian Peirson
13 Jun 09, 13:52
Russian Ruble

Great Idea, but the International Banking Cartels wont like it, they like to be able to conjure worthless paper money up out of thin air.


tappantoby
17 Jun 09, 09:42
ANO going down fast

Why is ANO leading the gold/silver pact down ?

ANO is down 75% in less than 10 days.

Are the MM's manipulating this stock or is there an underlying reason for this fall ?


Allayna
08 Mar 11, 12:58
I have one

I found one of these coins in the pocket of an old jacket. It is in mint condition and I can't help but wonder what the value is. I'd never get rid of it but it's a good thing to know.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in