Russia Hints At Ushering In A New Gold Backed Ruble

india-gold-etfThe Silver Bug: The Central Bank of Russia has made a subtle, yet serious threat against the lynch-pin of the American Economy, the US dollar.

According to Russian media,  Russia’s RIA Novosti Bank Rossiya has just released a new logo, which is a gold ruble.

This action comes in response to JPMorgan entering the economic battlefield and blocking Russian wire transfers.

Putin has made it quite clear that any attacks on the Russian economy will be answered in with retaliations of their own.

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This latest threat has the potential to derail the American economy.

If Russia decides to use its vast gold reserves to back the Ruble, the ramifications for the global economy would be huge.

Already the US Dollar, which has had the luxury of being the reserve currency of the World for far too long, was skating on thin ice.

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