Commentary
The Russian central bank recently announced that it will stop buying gold at a fixed rate and will instead buy it at the negotiated rate from banks. Following the numerous sanctions imposed on Russia, the ruble had fallen tremendously against the U.S. dollar, to get out of such a situation it had announced that it would buy gold at a fixed price of 5,000 rubles a gram until June 30.
An economics and a libertarian scholar with research interests in capital theory, monetary theory, and business cycles, Vibhu Vikramaditya writes about events in the economy from a legal and economic standpoint with a proliberty outlook and believes that safeguarding the liberty and rights of each individual is the most important act toward peace, prosperity, and growth. His other works can be found at the Austrian Economics Center, the Libertarian Institute, and BeingLibertarian.com. He can be reached at [email protected] and on Twitter @vibhu3333
