Russia’s view on gold

Published in Vedomosti, the Moscow business paper in December 2022, Glazyev’s views are very relevant today given Russia’s presidency of BRICS. There follows a translation of his article.

It is now eighteen months since Sergei Glazyev, Commissioner for Integration and Macroeconomics within the Eurasian Economic Commission, disclosed his views on gold and its economic value. Undoubtedly, his opinion carries weight not only with President Putin to whom he is very close, but he also influenced Russian proposals for a new trade settlement currency for BRICS which failed to make the Johannesburg agenda last August.

Published in Vedomosti, the Moscow business paper on 27 December 2022, Glazyev’s views are very relevant today given Russia’s presidency of BRICS which commenced on 1 January. We should regard it as the background behind the formulation of a new BRICS and SCO trade settlement currency which will almost certainly make the agenda at the major BRICS meeting scheduled for 22—24 October in Kazan. Glazyev clearly understands the importance of securing the rouble’s value to gold, which is bound to inform his thinking with respect to the trade settlement currency proposal. I shall be writing about this and other geopolitical factors for my Substack subscribers later this week.

There follows an English translation of Glazyev’s article in its entirety.