News: August 17, 2022. Russia is Proposing a New Standard as an Alternative to the London Bullion Market Association (LBMA)

Russia’s Finance Ministry is proposing a new international structure for trading in precious metals. This would be called the Moscow World Standard (MWS). It would be an alternative to the London Bullion Market Association (LBMA). It is felt that the LBMA manipulates the prices of precious metals so that they are artificially depressed.

The Russian Finance Ministry says that the prices of precious metals will be fixed either in the national currencies of main member-countries or using a new monetary system based on a basket of national currencies.

The Finance Ministry's goal is to end the monopoly of LBMA and to provide for stable development of the precious metals sector, with prices that are not artificially depressed..

For further information, read this article

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.