If I can choose to buy an ounce of gold for $2000 or trade $1600 for enough rubles to buy an ounce of gold, then the price of gold is $1600.
More importantly, it sets the value of a dollar at 1/1600 of an ounce of gold, which it is not worth on its own without being backed by oil as a default global currency, which Russia also put a stop to during this same process.
Since it is not worth that amount on its own, nations will be dumping their dollars and hyperinflation slaps us in the dick when we now have trillions more dollars whose IOU is being called.
which is functionally the same thing.
If I can choose to buy an ounce of gold for $2000 or trade $1600 for enough rubles to buy an ounce of gold, then the price of gold is $1600.
More importantly, it sets the value of a dollar at 1/1600 of an ounce of gold, which it is not worth on its own without being backed by oil as a default global currency, which Russia also put a stop to during this same process.
Since it is not worth that amount on its own, nations will be dumping their dollars and hyperinflation slaps us in the dick when we now have trillions more dollars whose IOU is being called.