Witte’s monetary reform: the gold standard of the ruble

Thanks to the monetary reform of 1897, carried out by the statesman of the German-Baltic family, Sergei Yulievich Witte, the Russian ruble became one of the stable currencies of the world economy. Witte s monetary reform, which established ruble gold monometallism or the free exchange of the ruble for gold (the gold standard of the … Read moreWitte’s monetary reform: the gold standard of the ruble

The gold standard against money printing

Some economists argue that a monetary system based on the gold standard will not be stable enough, since in this case gold mining companies, and not central banks, will control the money supply (gold). As a result, prices will fluctuate constantly, and this will influence the discovery of new gold deposits. That is why, according … Read moreThe gold standard against money printing