Posted on 03/07/2022 5:28:04 AM PST by marcusmaximus
Russia’s currency sank to a record low Monday as traders struggled to get access to the ruble.
The ruble fell to 137 to a dollar, a decline of more than 10% from Friday’s close, as traders say that the ability to buy and sell the Russian currency has become more limited as fewer banks want to settle transactions against it in the offshore market.
(Excerpt) Read more at wsj.com ...
“The ruble fell to 137 to a dollar.”
Pretty much transparent to Russians unless China makes them pay for goods at that rate.
By the way, Russia is now taking in around $2B to $3B per day due to the price of oil and especially gas, and plenty of markets are still open to them to meet their needs.
or 1 Ruble = $0.0076
Converting Petrodollars into Rubles will net more Rubles. When the value of the Ruble rebounds after the Ukraine crisis is over, and it will rebound, then those Rubles will be worth more.
“Converting Petrodollars into Rubles will net more Rubles.”
And just how that is that done when sanctions are in place?
As Trump said as president, nationalism is the best arrangement for states. If Russia produces it’s own food and fuel, what other nations do shouldn’t be able to destroy them.
Sanctions exclude petroleum export payments.
But you were not referencing that but this - “Putin or the Oligarchs because most of their wealth is in Dollars or Euros”
Will eventually cross 200 to the dollar.
Russia defaults on their sovereign debt on March 16th.
No, you made the assumption that Petrodollars and Putin's and the Oligarch's personal wealth were one and the same.
Petrodollars belong (ostensibly) to the State, and converting Petrodollars into Rubles now will actually help the State once the value of the Ruble bounces back. You know, buy low, sell high?
Given the price of oil and gas (now bringing in $2B+ per day) as Europe and the US try to ‘punish’ him, he’s probably wondering why he didn’t invade sooner.
The conspiracy nut inside me thinks that Biden purposely killed Keystone XL, ANWAR leases, and approved Nordstream II all to raise prices to help both Putin and the Iranians.
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