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 ruble), … 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