Ronan Manly — Russia’s Central Bank Is Buying up so Much Gold Its Huge Mines Can No Longer Keep Up

This is fiscal injection using the books of the Central Bank of Russia rather than the government budget. The central bank is acquiring assets for its own liabilities denominated in the currency it issues, while if fiscal spending were used to inject currency into the economy, the fiscal balance would be show increasing government liabilities.

A declining fiscal balance would be interpreted as a negative signal, whereas the central bank acquiring gold reserves ("hard assets") is considered positive. This not only increases the domestic money stock, providing purchasing power in an economy that is suffers from lagging demand, resulting in idling of available resources, but it also makes the ruble look stronger.

Someone knows what they are doing?

Russia Insider
Russia’s Central Bank Is Buying up so Much Gold Its Huge Mines Can No Longer Keep Up

Ronan Manly

Rusvesna — Russian Central Bank buys 100% of the gold mined in Russia

This not only adds to gold reserves but it also pumps rubles into the economy without "debt financing" or taxation to "balance the budget."

Fort Russ
Russian Central Bank buys 100% of the gold mined in Russia
Rusvesna - translated by Inessa Sinchougova

Sputnik — Gold Rush: Russia Stockpiling Bullion Like There's no Tomorrow

Russia is rather drastically reducing its percentage of foreign reserves and increasing gold reserves in response to economic warfare aimed at destabilizing Russia.

Sputnik
Gold Rush: Russia Stockpiling Bullion Like There's no Tomorrow

Zero Hedge — Russian Gold Reserves Hit Putin-Era High, Buying Frenzy Accelerate

Gold fever.

Actually, the Central Bank of Russia injects roubles into the domestic economy by buying up domestic gold production. This is a monetary operation conducted on the books of the central bank and it therefore does not affect the government's fiscal balance.

Zero Hedge
Russian Gold Reserves Hit Putin-Era High, Buying Frenzy Accelerates
Tyler Durden

Ellis Winningham — Finding Cuts to Pay For Federal Spending is Obsolete

Ellis Winningham explains the difference between the pre-1971 international gold standard regime and the present monetary system with respect to fiscal space and fiscal stance.

Ellis Winningham — MMT and Modern Macroeconomics
Finding Cuts to Pay For Federal Spending is Obsolete
Ellis Winningham