The first Russian multi-billionaire, a Russian political and public figure, German Sterligov offered to start production of gold and silver coins. In his opinion, it would allow Russia to withdraw from the „crisis pit.“ His words are televised by channel „360“.
„In order to not depend on the dollar and the euro as well as other exchange games, we need to enter the gold and silver coins. Then there will be no inflation, gold and silver has no inflation – there is only deflation, and there can not be bank rates. Then the banking system is dying; the national treasury operates and people get a loan in gold and silver, “ Sterligov said.
In 2009, he created the „Anti-Crisis Center“, where he introduced a system of calculation by using coins. Monetary unit was put into circulation among members of the company to pay for goods and services to each other. Now, the system should become real.
„It will be very beneficial for the country. There are no cons – only pros. Cons only for those whose system will come down. For Putin and his allies it is only an advantage; only his entourage may fear because they keep their monetary reserves in dollars,“ the billionaire German Sterligov said.
According to experts, Russia does not have so big foreign exchange reserves to establish coinage, especially in times of crisis. Besides, the coins are not insured against inflation.
„There is a theory – the quantity theory of money. It does not matter what to make money from: gold or silver or wrappers. There should be so many money as manufactured goods. [Gold] also does not protect against fluctuations [rate],“ said economist Victor Borisov.
Sergey Mavrodi (the founder of the largest financial pyramide “MMM” in the history of country) also did not support German Sterligov’s offer.
„We do not have our own industry, we all purchase for dollars and euro. How can we get free? It is possible; there are two ways – to create our own industry, but it is a long way. The second one – to drive into Russia so many dollars and euros that the exchange rate will not care,“ said Mavrodi.
Russian Central Bank has lowered the official exchange rates of foreign currencies on November 26, despite the slump of the ruble which occurred on Monday on the Moscow Stock Exchange. According to the data at 17:26, at the auction the US currency had increased 1 ruble 69 kopecks to 79 rubles 71 kopecks. The euro gained 2 rubles 12 kopecks, transactions for that currency held at the level of 86 rubles 36 kopecks per euro.
You can find Russian version of this article on
See also one of the former German Sterligov`s Live Interview for CNBC Channel interview in English on