Offshore Banking― Looking Forward to the Gold-Backed Ruble?
A New Sense Of Optimism In Offshore Finance (Coupled) With The Decline Of American Power
Working in Geneva, I walked into my office on Friday and my employees seemed to have an infectious spring in their step―coupled with being in a state of optimism.
Something I always like to see
It soon became clear that what had everybody buzzing was the possibility of a gold-backed Ruble. Of course, this is not the first time this subject has been brought up in our industry. What was different this time was the radical changes in the geopolitical reality and the weakening grip of US power.
And quite honestly a new system of money is tantalizing
The prospect of a hegemonic competing monetary system is long overdue and the idea of holding gold-backed Rubles sounds far better than the unknown risks of the US dollar. Even better is a new money movement system that is outside SWIFT that gives multi-jurisdictional fund managers more than one option.
It is no joke, that all of us within multi-jurisdictional finance have existed within this system under the iron grip of the United States; at the same time bowing to its interests. Now it seems that the American money system is…
