Yes, but look at all the Russian millionaires that Putin has created.
Sorocide?
I thought Putin was dead and all the Russian soldiers had driven their tanks of cliffs?
The gazzlight keeps changing and changing and changing and changing and...
The story is a lie because, according to you, Putin’s has died at least 100 times from cancer!
Russia has everything their Citizens need.
Russia will now earn more Rubles per barrel of oil
Russia had a bumper wheat crop. More Rubles for Russia
The Ruble, or as its now known, the Rubble is headed to 130 by the Fall.
The ruble has weakened by the Russian government to make it easier to sell grain on the world market.
Alexander Mercouris explains:
EU pressures Russia to rejoin grain deal.
Mercouris: "The second thing that is really worrying the Europeans is, of course, that there is on big grain exporter, food exporter, that is able to step in which is Russia. They had another bumper harvest. The ruble is soft, INTENTIONALLY SO. Russia's food is now extremely cheap on world markets. Russia is a strong position to exploit Ukraine's disappearance from the food scene and takeover Ukraine's market."
But arrogant people here told me the Russian economy is stronger than ever.
It is not.
Putin is a disaster.
And after all the money we’ve printed...
But . . .
But . . .
Isn’t he going to back his new currency with Gold?
Or is it bytes?
The focus on Russia and the ruble is standard neocon gas-lighting and telling only a small part of the story. All the hallmarks of cheap propaganda.
Look at USD vs. all world currencies so far.
There is long-term USD strength, due to Fed tightening and especially shrinking USD money supply. Its clearly affecting BRICS currencies equally, but also is similar vs. other G-7 countries. Russia is not an outlier.
USD vs. Brazil Real - US Dollar within 10% of 30 year high
USD vs. Indian Rupee - US dollar at 25 year high
USD vs. Chinese Yuan - US dollar close to 15 year high
USD vs. Euro - US dollar within 10% of 20 year high
USD vs. Japan yen - US Dollar within 2 yen of a 30 year high
But I read on the posts that the Russian economy was doing great. Why do they lie to us?
The award-winning head of the Bank of Russia, Elvira Nabiullina, is very competent, but she is not a magician.
My guess is that the weight of western sanctions plus the loss of productivity from the almost a million young educated Russians who have emigrated, is negatively affecting the Russian economy. Russia has less of value to export, so the ruble is falling against the currencies of the countries they are still trading with, such as India, China, and Hungary. Here’s the chart for the Hungarian Forint:
https://www.xe.com/currencycharts/?from=HUF&to=RUB
But it’s just my guess, and I could always be mistaken. Trends can change!
False.
It’s largely irrelevant if Russia is planning to use commodities instead of currencies for international trade in the long term. The value of the Ruble becomes largely irrelevant if the only part of the world using it is Russia.
That’s why Russia bent over backwards to get the EU paying in roubles. To a western economy that might’ve seemed like a retarded move because if Germany had been paying for oil in Euros, Russia would now be able to spend those euros globally, or convert them to roubles and print a trillion.
But Russia thinks it can be self sufficient. It’s got eleven time zones and has had 30 years to prove it can be self sufficient. But what does it make that doesn’t need imports?
Before the millennium we used to joke about the Albania state washing machine company; the Yugo Zastava, Lada Riva, and Skoda. Soviet era products were a mixed bag but the better stuff was made in the Warsaw Pact region, Belarus and Ukraine. Pretty much nothing came out of Muscovy until it started exporting propaganda and ransomware.