For the Benefits of Others
Leaders will take initiatives and strategy to ensure their country is protected. 1998 - Mahathir pegged the ringgit at 3.8 to the dollar, blaming speculators for attacks on Asian currencies that cast the region in crisis. The peg lasted until 2005, and was widely credited with protecting Malaysia from the Asian economic crisis and the speculators. 2022 - Putin’s enforce ONLY ruble payments for his energy products. Namely oil and gas. He issued a decree on March 5, which allowed Russia to pay creditors from “unfriendly countries” using rubles instead of US dollars, Euros or Pound. Then he linked ruble to gold at 5,000 rubles per gram. By pegging the currency to gold, strengthen the ruble with a gold standard. Meaning he has set a floor price for the ruble in terms of the U.S. dollar since gold trades in U.S. dollar. Gold traded at about US$62 per gram, it translates to (5,000/62) about 80.6 rubles per dollar. By demanding that buyers of Russian gas pay using rubles, the count