[Event] Transition to the Gold Standard Begins

The relevance of a gold standard has become increasing important, and the Eurasian Federation holds one of the largest reserves in the world. Before the formation of the Eurasian Federation, Putin held plans to bring Russia to the gold standard, but it was never realized in full.

With looming sanctions, the transition to a gold standard must be realized. The importance of the gold standard is seen in two areas. Firstly, price stability of goods. Money supply can only grow at a rate in which gold reserves increase. Second, fixed international exchange rates. Uncertainty in international trade would no longer be a problem. Those who begin with the gold standard are those who benefit from it when the world economy eventually collapses. The Philippines, Papa New Guinea, and Cambodia are all on the gold standard and have held successful economic conditions since then, following in their initiative the EF will begin the transition to the gold standard.

Eurasia's Current Reserves (In Tonnes)

[M] I've done the numbers myself, so many might be wrong. Please let me know if you see any retarded mistakes. Thanks. [M]

• Russia's Reserves (2017) - 1,655.4
• Kazakhstan's Reserves (2017) - 258.05
• Mongolia (2017) - 1.7

Monetary Base - Monetary base is the total amount of a currency that is either circulated in the hands of the public or in the commercial bank deposits held in the central bank's reserves.

Adjusting for tonnes mined and bought since 2017 would bring the estimated total amount of reserves up to 2,138. In order to sustain and provide for a gold standard, 40% of total monetary base must be in physical gold reserves. With 2,138 tonnes in total Reserve, the Eurasian Federation's current gold reserve covers $80,475,389,000 (multiplying tonnes by kilos, which is roughly 1 to 907, then multiplying the amount of kilos by the current price of gold per kilo in 2017, which is $41,442.28, and rounding up to 41,500 even though the price would've only gone up higher by now) easily surpassing the 40% total of Eurasia Monetary Base, which I've estimated at around $150 Billion in total (by taking Russia's Monetary Base in April 2017: 8,697.7 Billion, factoring in Russia's economic growth before federalization, then adding 19% when the EF was formed as it absorbed the the other countries. It works out to around $143 to 150 Billion in total monetary base throughout the Federation).

With over 50% of total monetary base in physical gold reserves, the Eurasian Federation is ready for a transition to a Gold Standard today. However, the Eurasian Government will be making the transition to the gold standard one-year long, stemming from now until the middle of 2040. During this time, the Kuril Islands will be depleted of their 2,000 tonnes gold reserves, Kazakhstan and Mongolia will receive massive funding to expand gold mining operations to extract their combined un-mined gold reserves of nearly 3,000 tonnes. The Province of Russia holds the most significant un-mined reserves in the Federation, with an estimated 500,000 tonnes of un-mined gold.