What the Hell Is a “Conventional Currency Unit?” (Russia)

Vocatix ^ | December 16, 2014 | Sarah Kaufman

[C19fan]

Russians are saying “ooh yeh” to the collapse of their currency, but it’s not as positive as it might sound to Western ears. As the value of the ruble goes into free fall, Russians are preparing for a return to the economic chaos of the ’90s. At a retail level, it means that store managers across Russia are rewriting their price tags in a currency Russians call a “conventional currency unit.” In Russian, the phrase for “conventional currency unit” is uslovnaya yedinitsa—abbreviated to an acronym pronounced ooh yeh.

[C19fan]

It is a sure sign of hyperinflation when the local currency is worthless as a unit of account and prices are quoted in a more stable currency.

[Gaffer]

I’m sure Freepers here can recount similar Democrat redefinitions and repurposing of words that apply.

A standard tactic. “Don’t call it what it is; call it what you want them to believe it is.”

[Don Corleone]

Just a reminder as to how a currency can be debased by a self-serving vote buying government...cigarettes used to be 10 cents a pack not ten cents a puff and gasoline 15 cents a gallon. A two bedroom all brick home in Chicago, middle class, was $6000. That same home 70 years LATER sold for $275000. Ask yourself why? The proper measure is ‘how many hours do I have to work to pay for it?’ In the ‘30’s average income was about 3 or 4 thousand per year. You paid NO income tax. Two full years salary would pay off the house. Today average salary maybe $60,000. Four and 1/2 years would pay off the house but of course factor in the income tax and ...???
A new car maybe $900-$1000. Go back to newspapers of the ‘30’s and ‘40’s and see what socialist big government caused inflation has done. You are peddling faster but going slower to the tune of an 18 trillion dollar debt, which when it all collapses will take down the entire world economy and make Zimbabwe look attractive.

[Gaffer]

I fully realize about inflation and value. My comment was primarily on redefinition of words, not the cause.

[Red Badger]

PERHAPS THEY COULD USE THE ZIMBABWE CURRENCY.............

[vette6387]

“A two bedroom all brick home in Chicago, middle class, was $6000. That same home 70 years LATER sold for $275000. Ask yourself why? “

And the kicker is that unless you live in it until you die (and you have heirs to inherit it), the government will collect a huge “capital gains” tax on the sale. With capital gains on personal real estate, the government is admitting that it has a vested interest in inflation. They get a big chunk of your money which they have devalued.

[Sawdring]

I’m not saying the government hasn’t inflated the US dollar but a house built in the 1930’s is very different from a house that is built today. New technologies and access to different materials. Same with a new car.