The Truth about Russia’s Golden Ruble & the Dollar’s Demise

Alasdair of Goldmoney and Ewan Downie, the CEO of i-80 Gold, return as this week’s guests.

When the U.S. sanctioned Russia and removed them from the international SWIFT trading system, Russia in order to ensure its national survival had to find another way to transact cross border trade. For European countries that desperately need Russia’s gas, Russia offered to sell gas to hostile countries in exchange for payment in Russian Rubles or gold. That was a first step toward surviving outside of the international U.S. dollar-based fiat money system. But it would be only the first step in a much larger threat to America’s dollar hegemony, bolstered by the other four members of the BRICS group plus many more nations sensing that the future lies with powers in the east rather than in the western world.

The fact is that the U.S. has abused its reserve status in a way that has not only angered and threatened the survival of foreign powers, but its own economy is literally choking on debt that cannot be repaid. Nations seeking to retain their own sovereignty are reacting against a fiat money system and are choosing to obey the laws of nature that have designed gold as money for the sake of their own survival. As J.P. Morgan noted some time in the past, “Only gold is money. Everything else is credit.” Recently eastern nations have been gearing up for a transformation toward a future in which money, not credit, is used for international trade.

Alasdair walks us  through a bit of post-1971 history that appears to be enormously bullish for gold and Ewan Downie talks about how i-80 Gold is developing this little known gold producer into one of the fastest growing large scale gold miners in gold-rich Nevada and how you can profit from that company’s fortunes.  

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Alasdair Macleod has a background as a stockbroker, banker and economist. He is a Senior Fellow at the GoldMoney Foundation and Head of Research at Goldmoney.  His experience encompasses equity and bond markets, fund management, corporate finance and investment strategy. His weekly articles written for GoldMoney are posted on his blog at Because of his deep insights into underlying market dynamics, Alasdair is one of the most frequent guests on Turning Hard Times into Good Times.

Ewan Downie is an accomplished company builder and entrepreneur with more 25 years experience in the mining sector. Mr. Downie served as President and Chief Executive Officer of Premier from May 2006 to April 7, 2021. Mr. Downie is also Non-Executive Chairman and a director of Wolfden Resources Corporation and a director of Clean Air Metals Inc. In his extensive career Mr. Downie has participated in several gold and base metal discoveries and has been awarded accolades to reflect this success including the 2003 recipient of the Prospectors and Developers Association of Canada, Bill Dennis Prospector of The Year and several Exploration, and Development acknowledgements from the Northwestern Ontario Prospectors Association.

About Jay Taylor

Jay Taylor is editor of J Taylor's Gold, Energy & Tech Stocks newsletter. His interest in the role gold has played in U.S. monetary history led him to research gold and into analyzing and investing in junior gold shares. Currently he also hosts his own one-hour weekly radio show Turning Hard Times Into Good Times,” which features high profile guests who discuss leading economic issues of our day. The show also discusses investment opportunities primarily in the precious metals mining sector. He has been a guest on CNBC, Fox, Bloomberg and BNN and many mining conferences.